Latest Bellwether report reveals key events to ensure marketing spend increases for 2012

The latest IPA Bellwether report shows marketing budgets have been revised up for the third successive quarter, which in part is due to the major events that are happening this year.

Bellwether report reveals a rise in marketing spend
Bellwether report reveals a rise in marketing spend

This increase was marginal, however, with 22% of companies reporting an upward revision of budgets during the first quarter of 2012, compared with 21% that reported a reduction.

Nicola Mendelsohn, the IPA president, said: "There is no doubt that key events such as the London 2012 Games and the Queen’s Diamond Jubilee will do much to ensure that marketing spend continues to rise."

Media spend trends continued with traditional media budgets cut by 2.7 per cent, while internet adspend grew by 7.8 per cent.

Client confidence in their own company prospects jumped dramatically to the highest levels in two years, with around 38 per cent of marketers more upbeat than they were three months earlier.

Despite the rise in confidence, companies remain cautious, planning to increase their budgets by seven per cent for the new accounting year, the lowest predicted rise in three years.

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