Oh no! Looks like your marketing budget needs to work harder or get bigger!

Keep your Technical PR, Engineering PR, Industrial PR, Manufacturing PR & Electronics PR budget in a piggy bank. Sorted.We all know that marketing is the first thing to be hit in a recession; with this being particularly true of advertising, which is perceived as the expensive guest at the party. However, Sir Martin Sorrell's Group M has dramatically raised its forecast for the UK advertising market in 2010, from flat to 4.2% year-on-year growth, with TV advertising expected to show an increase of almost 12%.

Interestingly, TV's gain has not been everyone else’s loss, with national newspaper and radio advertising also expected to show significant growth. The increases are ascribed to the return to the market of dormant advertisers and the release of budgets held back during the downturn.

So what to make of this if you are holding a marketing budget? The immediate response might be ‘hurrah, it’s time to spend money again’. But before we all throw our hats into the air, let’s look a little deeper.

Everyone will now be spending their budgets again. This means that while your advertising dollar might buy a little more space from media outlets, everyone else will be buying more as well. You will need to work harder to gain the same amount of attention – buying more to achieve the same effect. This applies to pretty much every marketing outlet, including technical PR, not just advertising by the way.

Unfortunately, it doesn’t take a genius to tell that the time when you should have spent the money was during the recession. You were standing in a silent room; if you had started shouting you would have seen some effect. So, is it too late?

Well no, the room isn't quiet anymore but it’s definitely not at peak volume yet. The marketing party isn’t quite back in full swing. So there’s still time for savvy marketers to take advantage.

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Richard Stone

Stone Junction is a cool technical PR agency based in Stafford. We work for all sorts of businesses, with a particular focus on technology, technical and engineering companies. We like being sent cake and biscuits by clients, journalists and prospects.

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