As many as 12 of Ireland’s top 20 advertisers among the 40 leading brands that account for €160 million of media spend plan to reduce their budgets for the rest of the year, a report for Ebiquity Marsh, in line with the group’s recent global survey. Local budgets are due to drop by 22 per cent across the year versus the 28 per cent in the agency’s global study.
Brands in Ireland are likely to spend less on advertising – especially on brand building – while investing more in ecommerce and tech, with 60 per cent of marketers placing more value on maintaining share of voice (SOV). Ebiquity Marsh says 80 per cent believe data insights are “very or extremely important” and are generally satisfied with their data quality.
Ebiquity’s CEO for Ireland, Frances Mary (FM) Marsh, said a small number of brands rated brand performance, customer interaction and media performance data slightly lower. In Ireland, companies tend to be more satisfied with the role of their key partners in helping adjust to today’s market conditions, the report also indicated.