IPA Bellwether Report Q4: Jeremy Reacts

As the IPA Bellwether report announces the seventh consecutive quarter of budget growth, Campaign asked industry leaders for their reactions, including our CEO Jeremy Hine.

Originally posted in Campaign, below is a cutting of Jeremy’s comment.

“Despite economic headwinds, the findings of this quarter’s IPA Bellwether offer us a number of reasons to be cheerful. Spending growth across multiple categories is a highly encouraging sign that digital advertising is continuing to become a crucial part of brands’ advertising strategy.

As wider marketing budgets contract, however, and brands increasingly focus on their critical operations, agencies will need to work hard to prove their value to their clients. The likely result of this will be a move towards short-term, project-based work, where results will be directly measurable, as opposed to retainers, which can often have more nebulous outcomes.

Particularly heartening is the positive long-term outlook for marketing budgets which is fuelled by predictions of a short, shallow recession, instead of something more damaging to wider economic prospects.

I’ll be approaching 2023 with a hearty dose of realism, but it’s heartening to hear that a large number of my peers are optimistic about the future of our industry.”