Event budgets hardest hit of all marketing spend

IPA Bellwether Report 2009 Q2 finds budgets revised down by 23.8%

IPA Bellwether Report 2009 Q2
IPA Bellwether Report 2009 Q2

Event budgets were among the hardest hit of all marketing expenditure in the second quarter of 2009, according to the latest Bellwether Report.

The IPA Bellwether Report - 2009 Q2 found that the "All Other" category of marketing spend - which includes conferences, exhibitions, corporate hospitality, live product launches and experiential, as well as PR and market research - was revised down by 23.8% for the quarter.

This was the hardest hit of all the other categories, including media, sales promotion, direct marketing and the internet.

Overall, all marketing budgets were revised down in the second quarter of 2009 for the seventh consecutive quarter.

The report, however, found that the scale of budget downward revision of budgets had eased for the second consecutive quarter from the nine-year record scaling back  in the fourth quarter of last year.

Bellwether report author Chris Williamson said: "This report indicates that marketing budgets are being cut at a slower rate in the two quarters that followed the collapse of Lehmans, linked to a welcome recovery in business confidence regarding financial prospects. But pressure on companies to control costs clearly remains intense, suggesting that any recoveries in GDP and marketing spend will be fragile and subdued."

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