The way budgets are set needs to reflect the turbulent times marketing finds itself in. Old tools are no longer equipped to do the job.
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| Maria Iu
Effectiveness was also considered crucial by The Future 100 Club.
GroupM’s global president of business intelligence Kate Scott-Dawkins spoke with Jack Benjamin about the state of the global and UK ad markets.
WPP’s GroupM has maintained its global ad-revenue growth estimate at 5.8% to $889bn in 2023 but predicts a slight growth slowdown next year.
A net balance of more than 10% of firms surveyed expanded their budgets in sales promotions in the last quarter, according to the latest IPA Bellwether report.
The latest Advertising Association/WARC Expenditure Report finds that UK adspend in the last quarter of 2022 decreased by 5.8% – the first time Q4 spend has fallen since 2009.
Main media marketing recorded its strongest expansion in spending in over a year, even as advertisers worry over how the cost-of-living crisis will impact bottom lines.
The UK ad market will grow by 3.8% to a total of £36.1bn in 2022, according to the latest quarterly Advertising Association/Warc Expenditure Report.
Total marketing budgets were revised upward 2.2% in the IPA’s latest Bellwether report, led by a return to growth for main media marketing.
Dentsu expects global ad spend to grow by 3.8% in 2023, a slowdown compared to +8.0% in 2022. Much of that growth will be driven by price inflation.