Marketing West, the Dorset based marketing and business events specialist are part of a selected panel that contributes to a quarterly nationwide marketing survey known as the Bellweather Report. The results for the last quarter of 2019 have just been released.
During the last quarter of 2019 total marketing budgets increased for first time since Q1 2019. This trend is expected to continue into 2020 with initial budget plans for 2020/21 showing bullish expectations.
Said Nigel Reeve of Marketing West (pictured), “The feedback we are getting from clients shows that the south-west is following the national trend. Strong growth in total marketing budgets is expected as uncertainties diminish post the general election. Before the election uncertainty was causing clients to hold back, but the picture is now much clearer.
Overall 2020 budgets are expected to increase by 15.7%. Business events are predicted to have the highest year on year growth at 11.9%. Alongside this internet, advertising continues to surge ahead as businesses invest in online marketing. There are also signs that the continued resurgence of traditional media will continue. The south-west follows all of these trends which are in line with what we submitted to the report.”
Commenting on the latest survey results, Paul Bainsfair, IPA Director General, says: “With the clear result of December’s General Election, we are seeing a return to positivity in terms of UK companies’ confidence regarding their own financial prospects and in terms of their budgeting plans – up marginally in qtr. four 2019 and significantly for 2020/21. With Brexit still looming, I’m sure it won’t be plain sailing, but these forecasts provide an upbeat outlook for the year ahead for UK plc.”
The Bellwether report is based on a questionnaire survey completed by around 300 UK-based companies who provide regular quarterly information on trends in their marketing activities. The survey panel has been carefully selected to ensure that the survey data provides an accurate indication of actual marketing trends in the whole economy. Respondents are primarily marketing directors or similar.
