Written by Mathew Broughton, originally posted on ExchangeWire
The IPA Bellwether Q4 2019 Report, released 15th January 2020, has revealed a 4% overall increase in marketing budgets, the first such increase since the first quarter of the year. Growth is anticipated to accelerate through 2020 as the business cycle recovers from its current soft spell.
– Bullish expectations for marketing in 2020-2021 as a result of diminishing political and business uncertainties.
– Internet advertising again cited as the primary driver of overall growth in marketing spend, with budgets increasing by 7.9% in Q4 2019 alone.
– Own-company financial forecasts move into positive growth for the first time since Q3 2018.
Focus on data optimisation
The latest Bellwether report shows marketers are feeling more optimistic about 2020 as we move on from the last 12 months of political and economic uncertainty. With budgets increasing for the first time since Q1 2019 and ad spend set to improve in 2020, it’s more important than ever for marketers to look at how they’re optimising data in a market where data, especially first party data, is becoming more important.
As advertisers, data – it’s quality, validity and purpose – has historically been questioned. Reality is that properly sourced data can be good and can serve a multitude of roles. What’s bad is unrealised consumer engagement. Brands need to evolve along with consumers, who are embracing new digital technologies every day, including new devices. The proliferation of devices will continue to disrupt the digital landscape, and marketers will have to keep up with the changing tide. It’s no mean feat, but marketers should be able to capitalise on their new-found confidence heading into 2020 to assess their strategy so its focused on optimising data and is executed across all channels.
Tom Rolph, VP EMEA, Tapad
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