Companies who continued investing in marketing during the credit crisis are now seeing rewards, according to the executive director of the Director Marketing Association, Chris Combemale.
By maintaining their commitment to spending on advertising during the recession, these companies can now capitalise on expanding markets, he said. Additionally, they increased their share of the market, which has led to increased turnover.
Digital marketing, such as mobile marketing and social media, provides a particularly strong ROI because it is both measurable and accountable.
Umbrella company contractors who work in the marketing sector could also be encouraged by Combemale’s remarks. A sector in such good health could bring plenty of new opportunities for freelancers and contractors.
Recruitment in marketing continued to increase despite the economic downturn as companies realised the benefits of investing in measurable communications.
The Advertising Association recently revised its growth forecast for 2010 to 6.6%. If correct this would make 2010 the strongest year since 2004 for adspend growth.
The sector performed better than predicted in the third quarter as investment levels rose by 7.3%. The top performers in the quarter were TV at 15.8%, out of home – 12.4% and Internet – 11%. Direct mail recorded a 7% increase, the first time it has grown since the first quarter of 2006.
The chief executive of the Advertising Association, Tim Lefroy, said it was great to see such strong results on quarter three, which were boosted by the football world cup and popular TV programmes like the X Factor.
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