“The bounce back from Covid lows has reached new highs, reflected in the IPA Bellwether third quarter 2021 report that showed total UK marketing budgets had increased by 12.8 per cent, the strongest rate since the second quarter of 2017.
However market growth on this scale comes with its issues. As Tina Fegent, the experienced marketing procurement consultant, explains, in terms of new business opportunities it’s firmly a “seller’s market” at the moment, “with so much activity out there and limited capacity at agencies”. Some agencies, under pressure to deliver against ambitious business development targets, while also satisfying rising demand from their existing roster of advertisers, are confidentially indicating that they’re fatigued, saturated with constant demands to pitch.” …. read more