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18 Jan 10 - Confidence Returns as 2010 Marketing Budgets Set Higher

A leading Business Marketing Consultancy in Plymouth has reacted positively to a report from IPA/BDO Bellwether today claiming that business optimism and confidence is growing.

The report found that marketing budgets for 2010 have been set higher in comparison to 2009 and that companies are the most optimistic they have been in the past five years with 35% of businesses surveyed seeing improved prospects.

The report shows the ninth consecutive quarter of declining marketing spends but the rate of decline is slowing. Spend is down only 7% compared to being down 15% in the previous quarter. Online advertising budgets, including search marketing, were revised upwards for the second quarter running while direct marketing budgets have been increased by 2.2%, the first rise since 2007.

Martyn King, Director at Fuel Communications said; “This latest report confirms what we are seeing from our clients across Devon & Cornwall who are planning ahead and attempting to grab more market share in what are still difficult trading conditions. Digital marketing activities are certainly leading the recovery and it is encouraging to see more traditional activities coming back into the mix.”

Chris Williamson author of the report and chief economist at Markit says the report suggests that the UK emerged from the recession during the final quarter of 2009; “He adds that while budgets are being set higher and confidence is returning, it remains less buoyant than prior to the financial crisis.”