The marketing industry is constantly changing, with no yearly quarter ever being the same. The optimistic marketing figures that came out of 2023 indicate that there is a positive outlook for the marketing industry in 2024. 

With projected increases in marketing budgets and advertising spending, the outlook for marketing in 2024 is promising. In the fourth quarter of 2023, 26% of businesses raised their marketing budgets, compared to just 11.3% that made cuts (source: IPA Bellwether). Despite economic uncertainty, it is clear that many companies have decided to spend more on marketing. Events, such as the Olympics and government elections, are likely causes for advertising spending to be increased in 2024 in order to reach target audiences, ranging from print to television. Stephen Woodford, CEO of the Advertising Association (AA), highlighted that advertising spending is anticipated to reach £39 billion in 2024 and the advertising sector is one of the best performing within the UK economy (source: AA/WARC). 

The optimistic outlook for marketing in 2024, fueled by increased marketing budgets and advertising spending, paints a vibrant picture of resilience and adaptability within the marketing industry. Despite economic uncertainties, businesses are recognising the strategic importance of investing in marketing to maintain visibility, engage consumers, and capitalise on key events.

Claire White, Agency Partner at Why Media, expects 2024 to not only be positive for the marketing industry but also for Why Media: “The excitement for 2024 stems from the successful onboarding of new clients who bring fresh challenges and opportunities to the table, allowing us to showcase our innovative strategies and creativity. Our expansion initiatives, both in the UK and Spain, have fortified our presence in key markets, fostering a collaborative and diverse team culture. The current growth of Why Media promises exciting projects but also underlines our commitment to staying ahead of the curve and delivering exceptional results. With new clients, advanced technology, and an expanded team, the positive vibes resonate. 2024 is sure to be full of achievements and groundbreaking campaigns”.

Why Media is expecting 2024 to be a successful year.

With projections pointing towards positivity in 2024, the stage is set for a year of growth and innovation in the ever-evolving landscape of marketing. Businesses are embracing change, recognising the strategic significance of marketing in maintaining a competitive edge.

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Why Media Press Department
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