Budgets up as marketers grow in confidence
Posted by: FindGood
Date added: Wed 02 May 2012
The most comprehensive ever survey of the UK marketing sector shows growing confidence and increasing budgets according to FindGood, the London-based Marketing Agency Search & Selection Company which conducted the survey of 4,300 client-side marketers in the first quarter of 2012.
Kimberly Mears, FindGood's Managing Director says, "The purpose of the survey was to predict marketing spend trends for the year and to determine how client-side marketers currently make agency selection decisions. Of particular note is that marketers are still saying very clearly they prefer to work with smaller agencies - in an entrepreneurial sector that's good news indeed. It's very reassuring to see that budgets are once more on the march, suggesting that marketers see investment in marketing activity as the best way of growing sales whilst the economy remains becalmed."
Against a background of the stagnating economy, the survey highlights some keys trends:
58% of respondents were optimistic about their businesses’ prospects in 2012
48% also felt that their profitability would improve
Marketing budgets will increase across all disciplines - with advertising leading the way, and surprisingly digital expected to show the least growth.
There is particularly good news for small, independent marketing agencies in the UK, as a majority of respondents (64%) would prefer to work with owner-managed firms. Only a minority (10%) of respondents wished to work with an international agency network. Likewise, a majority of respondents (74%) would prefer to work with small agencies with 0-35 employees.
The role of procurement is likely to increase - 34% use procurement already, and a further 8% will do so this year. That suggests that in 2013, over 50% of agency appointments will involve procurement for the first time.
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