Decline in marketing spend slows

By

The decline in marketing spend slowed in the first quarter of 2009, according to the Institute of Practitioners in Advertising (IPA), latest Bellwether survey.

The net balance of the marketing professionals surveyed reporting an increase in the first three months of the year was -34%, still the second steepest decline in the survey’s nine-year history but less than the -42% dip in the fourth quarter of last year.

It also reveals that 45% of companies surveyed revised their marketing budgets down for the current financial year in Q1 while 11% reported an increase. This compares to 49% of companies reporting a decrease in spend and 7% an increase in the last three months of this year.

Moray MacLennan, IPA president, says the data shows the “bottom of the market has been reached”
“It will be a long road to full recovery, but this maybe the turning point. It’s good to see a graph going in the right direction for a change,” he says.

The report shows that internet advertising suffered a record reduction in spend, down by 10% in the first quarter.

Recommended

Orange brand chief to move to Saatchi & Saatchi

Marketing Week

Orange brand director, Justin Billingsley, is set to depart the mobile operator to the take on a chief role at Saatchi & Saatchi, Asia. He is due to join the agency network in June. It is understood that he will take on the position of chief executive. He will be replaced by Orange head of […]

AB InBev names Hilger marketing chief

Marketing Week

Andreas Hilger has been named UK marketing director for the recently merged Anheuser-Busch and InBev businesses. Hilger, who joined last year as Inbev’s UK marketing director, will report to Stuart MacFarlane, who was named president of the UK AB InBev business last month. Vicky Kipling, AB UK marketing director, is to leave the business.   […]

Latest from Marketing Week