UK marketing budgets rose during 3Q18 but at a much slower rate than previous quarters, according to the latest data from the IPA Bellwether Report.
Although it’s six years since the survey recorded negative growth, the latest quarter’s figure is the lowest since before the EU Referendum.
21% of the IPA Bellwether panel’s members revised total marketing budgets upwards in Q3, and around 18% downwards, giving an overall net balance of 2.5%.
This translates into the lowest figure since Q4 of 2015, and down significantly on the 6.5% recorded in Q2.
While Internet marketing showed a positive net balance at 13.6% mobile marketing budgets showed very little growth, with a net gain of 1.9%.
Interestingly, more ‘traditional’ marketing spend was more robust, with the net balance for ‘main media advertising’ at 4.9%, (up slightly from 4.8% in Q218).
Net contractions were recorded for events marketing (-1.1%), market research (-3.7%), direct marketing (-7.4%) and ‘other’ marketing (-9.9%).
For more report insight, check out www.ipa.co.uk/page/ipa-bellwether-report .