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FD's project an increase in marketing spend

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Finance directors project an increase in marketing spend in 2015

Marketers across the board look set to reap the benefits of an upturn in business confidence after a new UK-wide survey found that half of company finance directors are planning to increase their budgets for 2015.

The FD Recruit 2015 Forecast found that around two-thirds (68%) of finance directors will either match last year’s marketing spend or increase it over the year ahead. The four biggest areas are expected to be public relations, online advertising including pay-per-click, and traditional offline advertising.

The statistics were revealed following a wide-ranging UK study conducted by FD Recruit, which specialises in the recruitment and career development of finance directors. As part of its service, FD Recruit surveys hundreds of industry professionals about hot industry topics.

Heading into 2015, FD Recruit quizzed its finance directors about spending projections for the coming year, finding that 80% of finance directors are either ‘optimistic’ or ‘very optimistic’ about 2015 - and that figure will translate into increased marketing spend both internally and with external agencies.

In more general terms, the FD Recruit 2015 Forecast found that about a quarter (26%) of finance directors reported that business in 2014 had exceeded their expectations; 58% are expecting growth in 2015, with a further 18% were preparing for ‘significant’ growth.

Phil Scott, director of FD Recruit, said: “The survey shows that UK businesses are optimistic heading into 2015, and in great news for marketing services providers, this is going to translate into an increase in spend across the industry.

“Finance directors obviously recognise the importance of marketing and this survey shows that now there is more money available - from SMEs through to multinationals - marketing budgets are amongst the first to benefit.”

Scott added: “The economy has been tough for a number of years, but what the 2015 Forecast reveals is that there is renewed confidence of an upturn in business and finance directors are planning to spend more in 2015.”

In preparation for this success, finance directors are predicting to increase their spend in a number of areas:

Recruitment and staff
45% of respondents expect to increase their spend
30% expect to match the previous year’s spend

Property, offices and buildings
52% of respondents expect to increase their spend
28% expect to match the previous year’s spend

Equipment and machinery
64% of respondents expect to increase their spend
22% expect to match the previous year’s spend

IT and technology
57% of respondents expect to increase their spend
30% expect to match the previous year’s spend

Date Posted: January 21st 2015

Posted By: Jo Howarth