Marketing executives have regained confidence in their companies’ prospects, according to this morning’s IPA Bellwether report which suggests business buoyancy is at a two-year high.
The report, which examines data from marketing professionals and provides an insight into the health of the economy, said executives’ confidence on their own companies leaped to 19.1 per cent in the first quarter from -12.4 per cent in the preceding period.
Executives’ views of their industry have returned to positive figures, growing to 1 per cent from -44.9 per cent last quarter, making a six-quarter high.
Bellwether author Chris Willliamson pointed out that this increase in confidence led to the first rise in annual marketing spend in four years, with Internet advertising budgets getting the biggest boost with a 7.8 per cent average upwards revision.
While marketing budgets for the year are higher on average, the first quarter of 2012 has seen “the most cautious approach to spending for three years”. But the upcoming Olympics, Jubilee and Euro 2012 are set to boost UK marketing.