Today’s release of the Q4 2023 IPA Bellwether Report has brought many revelations. Events and direct marketing are thriving, while PR lags behind. Sales promotions have seen growth and UK marketing budgets are the strongest they’ve been since 2014.
Despite some declines, the report’s overall tone is optimistic. Let’s crack into some of the key findings, break them down, and look at how they impact partnership marketing.
A triumphant total
We’re seeing positive movement for total UK marketing budgets. So positive in fact, that Q4 2023 displayed the strongest upward revisions since Q2 2014.
Over a quarter (26%) of the surveyed companies reported an increase in their marketing budgets during this period, while just 11.3% experienced cuts. Moreover, the net balance stood at an impressive +14.7% – the best it’s been in nearly a decade.
The report also notes that this positive trend extends a sequence of expansion to 11 consecutive quarters, representing the longest uninterrupted period of sustained growth since 2018.
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