UK marketing budgets grew at their strongest rates since 2014 in the first quarter of this year, thanks to increasing confidence on the back of pandemic-related restrictions being lifted, according to the latest IPA Bellwether Report.
See the full article in New Digital Age here.
Richard Williams, Commercial Director at A Million Ads:
“Advertisers should go beyond a tick-box approach to regulatory compliance, and integrate an ethical approach to data collection into their core functions. The privacy-first future will benefit the publisher, advertiser, and the consumers as these trusted and transparent partnerships create a privacy-centric ecosystem to provide a mutually beneficial environment.
“It’s great to see marketing budget growth close to an eight-year high. The industry is certainly bouncing back from the pandemic with marketing budgets looking optimistic for 2022/23. As advertisers navigate this new landscape, we have seen audio content rise in popularity, especially with Gen Z audiences.
“With the rising cost of living having a huge impact on consumer behaviour, advertisers need to find creative ways to connect with audiences moving forward – and audio may well be the answer. Dynamic audio, for example, allows brands to tap into contextual data points such as time of day, weather or the listener’s personal preferences. For instance, with Easter approaching, a supermarket might want to promote chocolate for an Easter Egg hunt to drive consumers to their stores. This helps to increase relevancy, thus driving purchase intent.
“As the ad industry continues to recover, advertisers and brands have plenty of opportunities to take advantage of audio advertising, and it is vital that they connect with audiences on a more personal level.”
