Despite many companies facing financial constraints and fierce competition, to achieve better results and greater return on investment, many brands are willing to invest more in marketing in 2012, according to a recent study from market research firm MindMetre.
The research reveals that over 57% of UK companies intend to increase spending on advertising in 2012, whereas less than 19% have plans to cut down on their marketing budget. These findings indicate a significant change of sentiment for brands, as a similar poll from 2011 showed more firms being pessimistic, with as many as 42% of those surveyed saying they were reducing marketing spend back then.
Not surprisingly, small businesses were more wary of increasing advertising spend than large companies. Among firms with more than 1,000 workers, those that plan to hike budgets number 46% higher than those who ponder cuts, while the difference stands at 36% among firms employing under 250 staff.
Commenting on the findings, Paul Lindsell, managing director at MindMetre, said that if the tendency of increased marketing spend is taken as indicative of the development of business in general, then 2012 may see the UK economy start to bounce back to previous levels.
The survey from MindMetre mirrors a previous survey, the Global Marketing Index survey, which revealed positive predictions from marketers for the current year.