The latest IPA/BDO Bellwether survey was published today. It reveals that marketing spend fell for the eighth quarter running in Q3 but with the smallest reduction in budgets in over a year. Due to a strong rebound in business confidence — 47 per cent of companies surveyed are seeing improved prospects, consistent with the economy returning to growth.
Jim Marshall, Consultant, Starcom, Chairman, IPA Media Futures Group said: “This suggests there is the prospect both for cautious optimism and of a slightly more stable and stabilising media market. There is still the fact that the main media category has been more marked down than the internet (not surprisingly), as well as areas such as price promotion, so we are still seeing a high level of caution in the market.
Therefore, while the economy and prospects look improved I think manufactures are reluctant to make significant investment in advertising until they feel more confident for the longer term.”