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IPA Bellwether Q3: Budget pressures continue, but recovery predicted for 2021

What's New in Publishing 23 Oct 2020 01:10

The ongoing dip in business revenue continued to impact marketing budgets in Q3 2020, according to the latest IPA Bellwether report. The marketing sector is still feeling the consequences of the pandemic with budget allocations remaining on the decline, placing pressure on publishers and advertisers alike, but the downturn appears to be slowing. As a result, forecasts predict spend to bounce back in 2021.

WNIP touched base with ten industry experts, to gain insight into how heightened consumer understanding, savvy media investments, and pursuing innovation can boost the recovery of even the most affected marketing categories.

A glimmer of hope for events

Social distancing measures have caused severe repercussions for live events – more than 64% of all companies cited downward revisions to their event budgets. The pressure on spend, however, is sparking a digital revolution in a traditional space. Rayhan Perera, CEO and Founder at OneDash commented: “It’s no surprise events remain the hardest-hit type of advertising. However, it’s unwise for brands to completely pull back their marketing investments in this area, particularly when the shift to digital is likely to become a permanent feature of expos, conferences, and shows.

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Rayhan PereraOneDashAlvaro MegiasAudiencerateChris Hogg
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