Marketers eye growth as key economies grow

Marketing budgets are inching higher across the world as better news on the prospects for key economies and improving local trading conditions persuade companies to invest more in marketing, according to a study.

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The recovery is being led by companies from the Americas buoyed by the recovering US economy, according to Warc. The marketing intelligence service’s “global marketing index” (GMI) score for the region – a net balance of how marketers rate trading conditions, budget and staffing levels – is currently at 62.9, up from 56.5 in January (see table below).

Marketers in Asia Pacific and key developing countries such as China and India, grouped as “global” by Warc, also reported improved sentiment with GMI scores rising month-on-month to 56 and 56.2 respectively.

Despite a notable lag because of continuing concerns over the impact of the sovereign debt crises in the Eurozone, European marketers also reported improved trading conditions and budget levels. The region’s GMI score is currently at 52, up from 50.4.

Evidence of greater optimism among European marketers chimes with a separate poll of UK marketers that found a net balance of 39% were planning to increase marketing spend in 2012. The research by MindMetre had reported a 0% balance a year earlier as those cutting spend matched those increasing.

Hopes have risen that the UK economy is improving in the wake of a trickle of more positive news stories in recent weeks. Bank of England governor Mervyn King said recently that the UK economy would avoid a double-dip recession, while official figures showed that inflation was coming down.

Warc data was collected from a panel of marketers, media owners, creative and media agencies. MindMetre polled 2,000 small, medium and large companies.

GMI Chart

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