The latest IPA Bellwether report has seen marketing budgets, outwith online budgets, forecast down for the second consecutive quarter as a result of continued global economic uncertainly. The Drum approached some of those involved in the marketing industry for their reaction to the latest figures. Among those commenting is Dan Todaro, MD of Gekko.
“Today’s findings don’t come as a massive surprise – we are, after all, in tight times financially and the gut reaction for many brands is to focus spend on rapidly developing areas such as online and search. However, recent Gekko research shows that despite the decrease in spend shown here in the Bellwether, FM in particular still has huge value, and indeed can boost and increase sales for brands if executed correctly, even with limited budgets in place.”
“The survey revealed that 44% of consumers would be more likely to buy tech products and gadgets if they’d had a product demonstration or other brand interaction in-store, and a third (32%) said that this activity would tempt them to spend an additional 20% on products and accessories. Surely this is an argument for brands to re-think their spending strategy and reap the clear rewards that FM activity has to offer? It’s true that marketing budgets will continue to be squeezed, but listening to what consumers want and what makes them buy is ultimately the best way to predict and achieve success.”