Advertisers in the UK are feeling pretty optimistic about market conditions if Q1 stats are any indication.
In fact, more marketers there revised ad budgets upward in Q1 2017 than cut back. That tidbit comes from the latest edition of the Institute of Practitioners in Advertising’s quarterly “Bellwether Report.”
“Internet advertising was the media type mentioned most when it came to expanded spending, recording a net balance of 16.9 percent toward greater investment, up from Q4 2016’s 12.1 percent,” reports eMarketer.
Spending related to search or search engine optimization enjoyed the biggest surge in spending, with a net balance of 15.1 percent in favor of more investment, up from a 7.1 percent positive swing in Q4 2016.
Mobile-based advertising was also popular for upward revision; Q1 2017 boasts the highest figure recorded in the three-quarter history of tracking mobile ad spending plans.
Traditional advertising—digital advertising, TV, print, radio, cinema, outdoor, and directory spending—showed a net positive balance of 10.7 percent during Q1 — the most positive result recorded by the survey in three years.
“Once again the Bellwether shows that while the impact of Brexit remains uncertain, marketers are continuing to invest in marketing,” said Paul Bainsfair, the director general of the IPA. “Furthermore, despite the current, turbulent digital ecosphere, it is clear that marketers are attracted to the cost-effectiveness of digital advertising and its ability to reach and accurately target their consumers.”