In a recent article we reported on the fourth biggest quarter ever for Outdoor Advertising. We also mentioned how Outdoor was a bellwether for the vigorous state of advertising in general.

 

Don’t just take our word for it though. The IPA Bellwether Q2 2014 report shows how it isn’t just OOH that is looking healthy at the moment; the entire industry is looking as lively as it has in a long time.

 

Here are some of the headline grabbers from the report:

 

  • This is the second fastest growth in marketing budgets since the report began in 2000.
  • This is the longest period of growth (seventh consecutive quarter) since records began.
  • The reports predictive model expects the economy to grow by at least 3%, translating into an adspend increase of 6.1% for the year.

 

This reads to us like confirmation that marketers and brands are extremely confident about the economic outlook and are willing to take advantage of it.

 

Almost all sectors looked at in the report performed well. Internet marketing achieved the best results, with spend on Search in particular performing well (and a 5th successive quarterly growth rate). Elsewhere, Main media advertising (which recorded an upwards revision of +11.5%), Events (+7.8%) and PR (+3.9%) all showed strongly.

 

Nothing is certain, but confidence breeds confidence. When brands are multilaterally giving the green light to their marketing departments to get creative, they are themselves reflecting overall consumer confidence. This is an exciting time for brands but also one where there will be winners and losers.

 

For us, the bottom line is this: Increased overall marketing budgets means brands that aren’t also spending (wisely!) will lose out on market share to those that do. Deciding where would be the most effective place/s to spend a marketing budget is what we do best. Get in touch to find out how we can get started doing just that for your organisation right away.

 

We want to know how the improving economy is impacting your brand and associated marketing budget. If you have a spare moment, please take part in our quick poll – we’ll get back to you next month with an insight into current marketing attitudes amongst our Wales and South West based audience.

 

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