IPA Bellwether: industry reaction
The latest IPA Bellwether survey, published on Thursday, shows that marketing spend was revised higher in Q3 at the strongest rate in nearly 13 years. Respondents to the survey have sighted improved economic conditions and business revenues that in turn offered a platform for increased marketing investment.
Here, Newsline presents industry reaction to the findings, with opinion from Geometry Global UK, Uncommon Knowledge and Newcast.
Sarah Todd, CEO, Geometry Global UK
“Like consumers, who are faced with quite an overwhelming choice of brands, products and experiences, marketers too are now faced with an overwhelming choice of media. As budgets rise, so does the pressure on brands to spend that money effectively, navigating this new landscape in order to communicate brand messages to consumers.
“With confidence growing quickly, it’s more important than ever that brands are able to find ways to address their audiences, be they trade, consumer or shopper, with targeted messages and creativity that motivates people to act.
“As we uncover new consumer archetypes and insights with each passing week, we need to use the full range of tools available to us, fusing data analytics, strategic planning and predictive modelling to map out the purchase decision journey.
“Some would still claim that data and creativity make for curious bedfellows, but more than ever it is crucial to deliver focused creativity, higher engagement and true cut-through, particularly considering the constantly shifting consumer mindset and ever-evolving consumption habits.”
Simon Lawrence, founder of Uncommon Knowledge
“The increase in confidence is a clear response to the latest positive growth within the economy and hopefully signals a real and sustainable recovery.
“However, the clear trend from today’s report is that much of the increase can be attributed to digital activity, and at some cost to traditional direct marketing.
“Cause for celebration as it may be, increase in digital spend is still a comparatively cautious one, founded in accountability and performance metrics rather than true worth.
“Spend in direct marketing – specifically in data – will need to be sustained as businesses realise that effectiveness is not equivalent to ability to measure performance. It will take a more dedicated shift in mindset for marketers to start using insight to help drive what they do, rather than just to evaluate what they have done. It is only then that confidence and spend will return across all channels, not just those from which ROI is easily attainable.”
Matt Davies, head of social content and mobile, Newcast
“It’s an exciting time and the latest Bellwether results further confirm what we’ve been observing for some time now – that we’re reaching a tipping point as brands shift investment from paid media towards earned media. The uplift in ‘internet’ and new media illustrate this, as marketers are finding new platforms to target their audience with relevant, engaging, social content.
“However, as exciting as these new platforms may be, brands need to ensure that authenticity lies at the heart of any approach – and this means choosing the platform or channel that’s right for the consumer, not simply where the brand wants to be.
“For the modern marketer, everything has to begin with a desire to truly understand the target audience – mapping and targeting specific demographics through social listening tools and analysis. Content has to be relevant and the brand needs a real reason to have a voice in that space.”