We’re in the midst of a summer of sport and this year’s Q2 Bellwether report indicates that – while the weather itself is not consistently sunny – things are looking bright, with businesses upping their total marketing budgets by an average of 15.9%.

Despite uncertainty around the snap election, now it’s done there is a sense of stability ahead.

“In line with the brightening economy, decreasing levels of inflation and a new Government, this quarter’s Bellwether Report reveals real vim and vigour regarding UK companies’ marketing spend intentions,” IPA director general Paul Bainsfair said.

“As we know, advertising is a real lever for growth for companies and so it is great to see them capitalising on these developments.”

However he added a note of caution: “While we welcome this positivity, it is worth noting that while inflation levels have come down, this hasn’t yet translated into prices, and as such strains on many household finances prevail.”

“This is something we’ve seen in our recently launched 2024 IPA TouchPoints data where more than a third of consumers say they are struggling to cope on their current income.”

But what do marketers across the UK think of the latest Bellwether report? Marketing Beat gathers some key reactions.

Yahoo managing director, Steve McHenry

“It’s no surprise to see events once again seeing a big increase in advertising spend. The lead-up to large-scale events – from Glastonbury to the Euros and the rest of the Summer of Sport – would have no doubt seen marketing budgets increase as advertisers look to make the most of captivated audiences both inside and outside of the home.

“It’s the same for TV and radio spend too, as the millions of people following such events from the comforts of their homes was another big opportunity to engage with them – either through traditional media or streaming platforms. Overall, better economic conditions and growing consumer confidence, as well as the UK general election and the prospect of a new government, have helped spending levels bounce back to much more positive levels.

It might be too soon to say that we’ve turned the corner just yet, but it certainly seems that confidence is back to a much better place than it has been over the past few years.”

Uber head of international advertising, Paul Wright

“The more upbeat outlook of the latest IPA Bellwether report is certainly cause for celebration. But brands should not forget the persistent economic pressures still weighing on UK households.

“Marketers must keep this in mind when planning their media, delivering ads to those most likely to spend. The key to this is quality, first-party data, which reflects audience buying intent and interests. When paired with relevant environments and exciting creatives, the right consumer can be served the right ad at the right time. The result for brands is better media and brand performance

“This approach will serve marketers well during 2024’s big cultural moments, including the Bellwether’s highlighted ‘Summer of Sport.’ Brands can unlock strong returns by investing in solutions to gain insights into specific audiences attending these events.”

Kantar UK managing director, Dom Boyd

“The leap in promotional spending sets some alarm bells ringing for me.  It’s a common tactic during major sports events like the men’s Euros, but brands should be careful not to get addicted to deals.

“While cutting prices can provide a short, sharp sales boost, it rarely delivers long-term profitability and growth. Marketers should protect their brands’ pricing power at all costs and use budgets to enhance, not chop away at it. With main media and events spend on the up, brands are clearly – and rightly – piggybacking on the attention and positivity surrounding sports tournaments.

“With plenty of sport still to come this summer, the businesses that will win gold and really grow will be those which can get it right on marketing effectiveness – balancing a campaign’s ability to entertain and lift sales in the short term with the need for consistent, lasting brand building.”

Joan London managing director, Tom Ghiden

“After stagnation and crisis politically, the country is now embracing change and it feels like UK business is mirroring the nation’s mindset. With budgets for TV on the rise, we see brands investing in longer term brand building to boost their profiles, attract a wider customer base and ensure business stability going forward.

“Brands are also looking to better connect with their customers be that by interacting with them through in-person activations or expanding their customer knowledge with better insight.

“As the industry grows and becomes increasingly adaptive to the changing economic conditions, brands must capitalise on their whole marketing toolkit old and new – to connect with  people in ways that matter most to them, creating memorable moments for lasting brand impact.”

Tripadviser senior director of global partnerships, Justin Reid

“The latest IPA Bellwether report is a welcome sign that the economy, and the advertising industry, may be showing signs of improvement. With growth comes opportunity, however, the cost-of-living crisis still has a lingering impact on consumer spending.

“As cited in the report, it is hard work to get people through the doors, meaning marketers have a huge job on their hands. On the flip side, the summer of sports is a reason for optimism for the travel sector. England’s final in the UEFA Euros 2024 is an example; Google searches for “flights to Berlin” shot up 712% ahead of the big game.

“People are willing to travel for sport which presents a major brand opportunity. To capitalise on this, you need to know your audience and gaining insight into who they are and how to reach them is essential. Despite the challenging macro environment, for travel marketers, investment in understanding your audience will lead to more effective campaigns.”

Cedara co-founder and CEO, David Shaw

“It’s encouraging that the Q2 2024 report cites opportunities in digitalisation and sustainability, as they should complement each other and not be implemented in isolation. It’s well-known that the digital marketing industry has a massive impact on the environment, so marketers must plan accordingly to ensure they partner with vendors that reduce their emissions.

“If we want marketing budgets to remain healthy, we must ensure the overall health of the industry for generations to come.”