Commenting on the Q4 IPA Bellwether for Mediatel, the main headline is that marketers are shrugging off ongoing uncertainty by raising marketing budgets.
It is encouraging that companies again increased budgets last quarter, reflecting an air of consumer and market optimism while we've awaited further comment on Brexit. With Mrs May indicating the government's stance just yesterday and forecasts of increased inflation, further market and economic reaction will continue to develop. Meaning that while there is optimism, there remains uncertainty, which is reflected in the 2017 forecast adspend decrease.
It is therefore likely marketers will continue to focus on measurable activity to ensure budget is committed wisely. What's more, the marketing and media landscape continues to advance so it's crucial that marketers have their finger on the pulse of all the latest developments and the infrastructure to respond.
Advances in data science, machine learning and AI all continue apace with the need for a solid data asset, advanced cross-channel analytics and programmatic delivery of engaging creative increasingly a necessity to remain in the game. This approach will eventually become a widespread MO across digital and traditional channels.
We particularly note the increase in both search and mobile advertising, which is an important reflection of both consumer behaviour and industry shifts, such as Google's most recent algorithmic reward for good mobile customer experiences. There is little doubt we are increasingly mobile-centric, particularly among demographics that are becoming the biggest spenders.