UK: IPA Bellwether Survey Shows Events Budgets Up 8 Percent
Events budgets have increased by almost 8 per cent, according to the latest data from the Institute of Practitioners in Advertising.
The IPA Bellwether survey, which polls 300 UK companies on marketing activity and trends, for Q3 2014 reports a 7.8 per cent upward revision in event spend as part of marketing budgets.
That’s the same as the figures revealed in July for Q2, as confidence returns to the economy and events industry.
It also means marketing budgets have now been revised upwards consistently for the two years. A quarter of those surveyed said budgets were increased relative to the original planned figure, while 13 per cent indicated a reduction – leaving a net figure of 12.6 per cent.
Although down for a second quarter running, which was reflective of an increased awareness among companies to maintain cost control and seek increased value from their marketing spend the report says, the headline reading from the survey was still the third highest in nearly 15 years of data collection.