This morning the latest AA/WARC Expenditure Report revealed that UK ad spend remained flat in Q1 2023, with year-on-year growth of 0.1 per cent, to reach a total of £9bn.
Susan McKay, International CMO at Dun & Bradstreet said: “As spend on search and online display rises, it’s clear that businesses are prioritising immediate discoverability, rather than wider brand building, to drive sales. And while it’s great to see growth in the UK advertising market as businesses fight back against the economic downturn, businesses must make sure they balance their marketing strategies to meet the changing needs of their customers without sacrificing brand identity.
“It’s vital that businesses use data-driven insights to adapt quickly to changing buyer conditions, re-balancing budgets to invest in channels and promotions that are converting best to ensure resilience. In fact, 82% of sales and market leaders we surveyed are already using data to assess business risk, meaning better insight into market opportunities, customer acquisition and retention. Ultimately these are the businesses who will be better equipped to navigate the current economic landscape while also future-proofing for growth.”