Danny Donovan, CEO of Mediahub UK gave his opinion on the IPA’s Bellweather report.
Danny’s comment, alongside others from within the industry, originally posted in Mediatel
This quarter’s IPA Bellwether report shows that marketing budgets are increasing for the first time since Q1 2019, despite the ONS finding this week that GDP fell by 0.3% in November. The report indicates that marketers are taking the advice of their agency partners and recognising that brands that invest in marketing during difficult economic times are those that succeed.
However, the future isn’t all positive and the industry isn’t out of the woods just yet. While the ad industry will undoubtedly welcome the return to growth in budgets, and hope that the touted “Boris Bounce” emerges, there is a long way to go on trade negotiations, which will mean continued uncertainty.
To ensure continuing budget increases, agencies must prove themselves to their clients. This means building trust by focusing outcomes. Work that builds brands, has creativity at its heart, and drives business value for clients as its goal, both now and long term.