Latest IPA Bellwether Report Reveals Flatlining Marketing Spend
The IPA released its latest Bellwether report on 16 January, with headline news that the growth of UK marketing budget flatlined in Q4 2018, amidst heightened business uncertainty, following six years of consecutive growth. Is this being caused by Brexit and a general lack of economic certainty, or is it purely cyclical? Experts share their views on the findings.
Media agencies will need to integrate brands’ tech-first approach
“Although last quarter saw a slower growth rate for main media advertising, it is promising to see anticipated budget growth as we begin 2019, despite the political turmoil and economic uncertainty caused by the ongoing Brexit negotiations.
“Indeed, this slower uptake was manifested in the recent 2018 Christmas campaigns, which saw retailers and established brands take a more cross-channel approach, spreading their budget across online and TV.
“Interestingly, with digital transformation emerging as a key focus point, we predict that clients will still be keen to adopt a tech-first approach as part of their main media marketing spend, and it will be imperative for media agencies to integrate this to bring greater growth opportunities.
“Nevertheless, brands should ensure that they consider the audience first when exploring digital transformation opportunities. Mindshare’s latest 2019 Trends report found that this year, in contrast to previous years, consumers will be less concerned with the shiny and new, but rather how existing technology such as voice can add value to their lives.”
Joanna Lyall, Managing Director, Mindshare UK
Read the full article in Exchange Wire here.