UK marketers revised their internet budgets up to the joint-strongest levels in 11 years during the second quarter of 2018, according to the IPA’s latest Bellwether report, marking nine years of consecutive upward revisions to this category and boosting overall growth to marketing budgets.
Marketers displayed a noticeable drive towards digital-based advertising in Q2, with the net balance of firms (+22.7%) reporting upward revisions to their internet marketing budgets – a significant increase on Q1’s +8.7%.
It is the 35th consecutive quarter (since Q3 2009) that marketers have made upward revisions to their internet budgets. Within the broad internet category, spending plans for search/SEO marketing also rose from +5.6% in Q1 to +11% this quarter.
These strong upward revisions have had a slight positive impact on the overall figures for UK companies’ marketing budgets; however, the pace remains slow.
Nearly a quarter (23%) of panellists indicated higher spending plans for overall marketing activity during Q2, while just 17% pointed to lower budgets, resulting in a score of +6.5%. This is up from Q1’s two-year low of +5% but it is still the second lowest reading since Q1 2016.
Meanwhile, main media advertising, which includes big-ticket campaigns related to TV, radio and cinema, moved back into positive territory after slipping into the red last quarter for only the second time in five years, with a net balance of +4.9% in…