Well revered as a barometer not only for the marketing fraternity’s fortunes and so those in marketing services like ourselves, but also for the economy in general.  For the first time in a few quarters a little good news is emerging.  As an IPA member agency we’re delighted to summarise directly findings from this important report;

Bellwether claims that Clients/brands are setting 2010 budgets higher than the previous year in terms of marketing spend and that they are the most optimistic about industry prospects in almost 5 years!

We’re all aware the last year in particular has seen budgets squeezed, with little let-up on expected results.  So leaving us all having to work harder, faster and more effectively, of course no bad thing in any type of economy. But it’s good to see preliminary data reporting 2010 budgets have been set higher on average than 2009 actuals, with some particular areas featuring. Sharpest was “internet” with realtime budgets revised up vs. a decline in more traditional media and less accountable categories like perhaps sales promotion (albeit less sharply trimmed than previously).  Direct marketing budgets were also scaled up.  Clearly both disciplines providing a more measurable ROI than perhaps traditional media which is potentially why they’re enjoying growth, and both of which we at Oi are proud to pioneer significant expertise in for our Clients.

So it seems confidence is building and Bellwether even suggests it is likely we officially ‘exited’ recession in Q4 2009.  Phew, please don’t tell the wife though, she still thinks my credit card is embargoed – ‘until further notice’!  Keep checking back, we’ll post each quarter’s latest Bellwether findings as we get them – so you read it here first.

About the Bellwether report – for those of you who may not know what it’s all about;
The Bellwether report is based on a questionnaire survey of around 300 UK-based companies that provide regular quarterly information on trends in their marketing activities.  The survey panel has  been carefully selected to ensure that the survey data provide an accurate indication of actual marketing trends in the whole economy.  Participating companies therefore include a broad variety of advertisers in terms of market sector and geographical location.  The survey panel has been recruited from the nation’s top 1000 companies.  Respondents are primarily marketing directors or similar.

Source : findings reproduced directly from the IPA/BDO Bellwether Report – 2009 Q4 as compiled by markit.  Additional opinions expressed those of Oi.