Around this time last year when commenting on the Q4 2021 Bellwether report, I noted that the findings gave Hunterlodge good cause to be optimistic going into 2022. It turned out to be a record-breaking year for us, the most successful in our 35-year history!
So, when I read the latest Bellwether Report from the IPA it gave me some perspective over the current financial climate – amongst the mix of high inflation, high interest rates, and weak consumer confidence we’re all aware of, was some light… Research in the final quarter of 2022 delivered some cautiously optimistic news for our industry.
While the news that marketing budgets had been increasing could be seen as a surprise to some in the industry, we at Hunterlodge know why. If businesses can hold their nerve as we approach a downturn and invest in more long-term brand-building strategies, market share is there for the taking – particularly as some competitors pull back spend.
The other interesting news is that businesses are investing more in events. We’re seeing this play out right now with many of our clients moving away from the forced virtual trend of recent years, to investing fully in live face-to-face events. The figures speak for themselves as we are seeing conversions rocket from this change in tack.
So, we wish you the best of luck in 2023 and hope you will wish us luck as we continue driving towards our vision of being the best agency our clients and our people have ever worked with.