PR grows as marketing budgets increase
Recent research from the UK suggests that marketing budgets will continue to rise in the coming months, while public relations experiences strong overall growth. The Bellwether Report, from the Institute of Practitioners in Advertising (IPA), the UK’s professional body for the marketing, advertising and communications sector, reported that public relations spending increased by 6.6 per cent in the final quarter…
Recent research from the UK suggests that marketing budgets will continue to rise in the coming months, while public relations experiences strong overall growth.
The Bellwether Report, from the Institute of Practitioners in Advertising (IPA), the UK’s professional body for the marketing, advertising and communications sector, reported that public relations spending increased by 6.6 per cent in the final quarter of 2014.
This puts the public relations sector in third place for average growth. First and second place were claimed by internet marketing (15 per cent) and main market advertising (6.7 per cent).
Public relations as a sector has also managed to grow faster than the average for the marketing and communications sector. Across all of the categories included in the research, spending grew by 6.1 per cent.
Paul Bainsfair, the IPA’s director general, highlighted that this growth was one of the highest results the study has seen in recent years.
“According to the latest Bellwether, 2014 was the best year for growth of marketing spend in the survey’s 15-year history and budgets have been revised up for a ninth successive quarter,” he said.
“This gives the industry real cause for celebration.”
Budgets across the board are also expected to see considerable increases in 2015, with the report’s authors forecasting the next 12 months will record even greater levels of investment in marketing and public relations initiatives.
Similar trends are also at work in Australia, which will likely contribute to continued growth in the country’s PR sector. According to the Holmes Report, Australian PR firms recorded above average levels of positivity about the future of the industry. At the same time, the research reported that PR firms around the world are feeling more optimistic about market conditions heading into 2015.
With such positive signs from recent studies, the coming year is likely to see a number of major developments within the public relations and communications space.
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