Events budgets return to steady growth, Bellwether Report finds

UK companies increased their marketing spend in Q1 2019, in contrast to flatlining budgets at the end of last year.

Events budgets across the UK have grown steadily during the first quarter (Q1) of 2019, according to the latest IPA Bellwether Report.

The quarterly report, which surveys marketing spend among a range of companies and sectors, found that events budgets grew 3.4% in Q1 2019.

Overall marketing budgets (which include categories such as main media advertising, internet SEO and mobile advertising) increased 8.7% in Q1, up markedly from a stagnating 0% at the end of 2018.

"This sharp increase, following Q4 2018’s flatlining, signals that UK marketing budgets have received a much-needed kiss of life in an economy gripped by Brexit uncertainty," said Paul Bainsfair, IPA’s director general.

"The smart marketers realise that to grow their businesses, they must invest in them, particularly in mass reach, long-term media.

"While the forecast for the year ahead remains uncertain given the seemingly endless Brexit negotiations, those that want real competitive advantage should follow the proven rule that if you increase your share of voice above your share of market, you should expect to experience growth."

The report also found plenty of companies that are wary of competitive pressure, leading them to diversify product offerings to enter new markets and attract new clients.

Around 21.6% of panel members observed spending growth in marketing budgets, compared to 12.8% registering budget cuts.

For more features and breaking news sign up to C&IT Magazine's daily Newstracker.

Have you registered with us yet?

Register now to enjoy more articles
and free email bulletins.

Register now
Already registered?
Sign in
Kimpton Blythswood Square Hotel opens in Glasgow

Kimpton Blythswood Square Hotel opens in Glasgow

Luxury hotel has 113 rooms, a Bo & Birdy restaurant and bar and private roof garden with views of the city.

'I'm fortunate to work on events that you sometimes have to pinch yourself at'

'I'm fortunate to work on events that you sometimes have to pinch yourself at'

A-List 2019: Michael Charles, creative director, Julia Charles Event Management.

Why an acquisition is a bit like a first date

Why an acquisition is a bit like a first date

Co-founder of FIRST, Mark Riches, explained why not all M&A activity is a success at the C&IT Breakfast Briefing.

C&IT Wellness Report hub is now live

C&IT Wellness Report hub is now live

Subscribers can read the entire report online now, which has been created in partnership with Stress Matters.

Dublin: A serious place to do business and a great place to relax

Accessibility, good value for money, excellent service, top-notch hotels and venues, history and culture and quality food are all key factors for event planners when deciding on where to host their event. And Dublin is a destination that ticks not just one or two, but all of those boxes and more.

Who are the fastest growing event agencies?

Who are the fastest growing event agencies?

Based on our annual Top 50 of UK agencies, we've crunched the numbers to see whose event-based turnover is growing rapidly.

'Young people bring new energy and thinking, and are in touch with what's going on'

'Young people bring new energy and thinking, and are in touch with what's going on'

A-List 2019: Steve Catling is the director of Hippo Events.

Strata appoints client services director and head of incentives

Strata appoints client services director and head of incentives

Agency makes three further hires including a junior designer, event operator and warehouse manager.

New business development director for Set Creative

New business development director for Set Creative

Nick Tether joins the agency from Exterion Media and will focus on growing the business.

Download the full State of the Industry: Corporate Report

Download the full State of the Industry: Corporate Report

Topics from the 2018 report include how events budgets are changing and what corporates want from event agencies.

LATEST JOBS