With unemployment rates dropping and the rate of inflation back at the Bank of England’s target of 2%, there is a renewed sense of optimism in the UK. Although its early days, the ‘green shoots’ of recovery do finally appear to be making themselves known. Marketers, in particular, are looking forward to a promising 2014.
A recent report has suggested that both confidence and budgets are likely to increase significantly this year for marketers. Studies have found that, between October and December in 2013, 11% of firms increased their marketing budgets and more money was ploughed into digital and email marketing than earlier that year. Experts believe that figure will increase by a further 3.3% in 2014.
Whats more, the same 3.3 percent increase is set to remain in place during 2015 before hitting 4% in 2016 (a rate it will continue to rise at until 2018).
Confidence is clearly high, and not least because of the varied ways in which marketers can reach potential customers. Mobile’s rise to the top of the most common platform on which users receive emails (it now stands at 51%) has no doubt contributed to this. Marketing is suddenly cheaper to perform and more effective than ever before. As a result, digital marketing has risen by an impressive 9.2%.
Marketing budgets have now risen for five consecutive quarters, which is the longest spell of month-by-month increases since the year 2000.
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