Marketing Confidence Monitor
The new study, which tests the sentiment of the marketing industry produced an overall confidence score from over 1,200 participants of +4.12 on an industry-weighted scale of +/-100 that takes the average across 4 key questions. This indicates some cautious optimism amid widespread uncertainty about the next 12 months.
However, it seems the outlook for UK marketers is far from uniform - while small and medium enterprises are planning strong investment and expecting increases in headcount in the coming year, larger companies are setting cautious marketing targets, reining in budgets and expecting reductions in staff numbers.
Nick Turner, Partner for the Marketing & Insight Practice at Deloitte says, “The view of the marketing community on business confidence is particularly enlightening given it is this group that are charged with fuelling economic growth. It’s encouraging to see that small businesses are pressing forward with marketing investment and jobs - critical for fuelling growth - but it’s worrying that so many large companies are still expressing such uncertainty.
It is, though, fair to say that the neutral overall confidence score is in itself not that surprising. However, if you dig a little deeper, the underlying sentiment within different industry sectors varies significantly. Of particular interest was the positivity shared amongst the manufacturing and construction industries that are so important for UK exports and our trade balance. This insight was perhaps the most unexpected of wave one and we look forward to seeing if the trend continues in next quarter’s update.”
If you’re interested to understand more about the sentiment of the UK’s marketing professionals, please feel free to contact us for a copy of the summary page of the key findings.
Alex is a Manager at Deloitte with over seven years of consulting experience and has gained cross-industry experience defining and delivering customer related strategies, with a particular focus on marketing. Alex leads the brand management proposition and provides wide ranging marketing expertise for clients. Alex also has experience designing marketing target operating models, evaluating agency models and understands end-to-end technology implementation lifecycles.