Marketing budgets grew at the slowest rate in nearly two years in the final quarter of 2017, reveals the Q4 2017 IPA Bellwether Report released this Wednesday (17 January). Although growth in marketing budgets is maintained, uncertainty and cost pressures are weighing on budgets.
– Internet remains the best performing subcategory, but main media underperforms
– UK ad spend growth showed resilience in 2017, but set to slow markedly in 2018
– Company financial prospects positive, but concerns over wider industry performance
The Report, which has been conducted on a quarterly basis since Q1 2000, shows that 23.9% of marketing executives raised their budgets during the latest survey period. However, there were reports of client caution and ongoing economic uncertainty weighing on sales; and these factors led to 15.2% of panelists reporting a cut to their total marketing budgets. The resulting net balance of +8.6% was down from +9.9% in the previous quarter and the lowest since the start of 2016.
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