Marketers do have reasons to be cheerful, says Bellwether author

Marketers can find reasons to be optimistic in the Bellwether report, according to its author, with marketing budgets for 2011 still on course to be up on last year.

/m/v/k/HappyMarketersPeople.jpg

Today’s (14 July) quarterly survey of marketing budgets and confidence found that spend had been revised down in the second quarter for the third successive three month block.

Marketers’ confidence in their own companies and their industry’s business prospects were also in the red.

Budgets were set higher year on year at the start of 2011, explains Chris Williamson, chief economist at Markit and author of the Bellwether, and although that initial optimism was tempered in the first-half, budgets are still set to increase this year, the first annual increase in four years.

Budgets were set higher at the start of 2011, he adds, because of better economic news in the final quarter of 2010. A subsequent drop in disposable income, increase in commodity prices and the Japanese earthquake knocked confidence, he adds, leading to budgets being trimmed.

It is likely, however, that commodity prices could fall in the second half, driving inflation down and providing consumers with the confidence to spend more.

“There is caution in that some are revising budgets down but optimism as a whole is up in the hope that things will turn around in the second half”.

Williamson adds that the 2012 Olympic Games also offer marketers are a “glimmer of hope” that budgets will pick up next year.

“There are some worrying signs but all is not lost”, he adds.

Latest from Marketing Week

PLEASE SIGN IN OR REGISTER. IT'S FREE, QUICK AND EASY!

Access Marketing Week’s wealth of insight, analysis and inspiration that will help you develop as a marketer and leader.

Register and receive the best content from the only title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work, so we can make Marketing Week more relevant to you.

Register now

THE BEST CONTENT

Our award winning editorial team and columnists will ask the biggest questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.

THE BIGGEST ISSUES

From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we will be your guide.

PERSONAL AND PROFESSIONAL DEVELOPMENT

Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Dedicated to developing your skills and helping you achieve marketing excellence. Find guidance on leadership, professional development and the latest industry jobs.

Having problems?

Contact us on +44 (0)20 7292 3711 or email subscriptions@marketingweek.com

If you are looking for our Jobs site, please click here