The Chartered Institute of Marketing’s latest Marketing Trends Survey reveals that many marketers believe the worst of the recession is over, although the rest of 2009 will remain extremely challenging.
The survey, conducted by Ipsos MORI, reveals that the number of marketers who believe the UK economy will worsen in the next 12 months has halved to 34% (down from 70% in the Autumn 2008 survey).
Likewise, those believing the UK economy will improve in the next 12 months has risen sharply to 26% (up from 11% in the Autumn 2008 survey).
When questioned about the prospects for their own organisation in the year ahead, more marketers believe business will improve (35%) than believe it will get worse (24%).
However, marketers remain gloomy about the prospects for the rest of 2009. Almost three quarters (72%) of marketers surveyed said they did not think the UK economy would pull out of recession in 2009.
David Thorp, director of research and information at the CIM, said: “Despite fears over the economy and job prospects for the rest of 2009, it is clear that we are turning a corner in marketers’ confidence about the future.
“For now, marketers are wisely concentrating their spend in the most effective activities, and as we move into 2010, I’m convinced this more professional approach will stand them in good stead when the economy recovers.”
GroupM released its latest UK adspend forecast today, predicting a year on year fall of 14% in 2009 and a 3% fall next year (see GroupM forecasts 14% drop in UK adspend).
In April, ZenithOptimedia forecast that UK adspend will fall 8.7% this year, with global spend predicted to shrink by 6.9% (see UK adspend forecast to fall 8.7% in 2009)
