Financial prospects at company and industry level have remained positive, with advertising and comms spend forecasts now higher for 2021 as businesses prepare for economic recovery. Within main media communications, video saw the highest spend growth, with a +4.2% increase compared to +1.1% in audio.

Industry wide optimism is evident with +45.9% of panel members expressing positivity for the future of their business. Events budgets continue to experience the most drastic decline after lockdown restrictions in Q2 saw cuts of -24.7%.

Phil Duffield, VP UK at the Trade Desk, says, “If the last five quarters have taught us anything, it’s to expect the unexpected. Consumer behaviours may never return to the predictable patterns we once knew, so decision-makers will need to remain agile in their approach.”

With the Covid-19 vaccination rollout picking up pace, and the lifting of lockdown restrictions in the UK, the Bellwether report is encouraging for companies considering a return to investment in comms. Yet, the pandemic has changed the way creative communications teams can strategize, as planning months in advance became counterproductive. This is where the beauty of data-driven communications truly lies - in its ability to allow marketers to remain nimble and flex campaigns as needed, says Duffield.

Data driven decision-making allows communications teams to remain flexible and adapt to changes in consumer demand, if and when restrictions or circumstances change. Duffield adds, “Marketers who invest in data no longer have to fear that months’ worth of planning has been thrown down the drain, as adaptability is baked into strategies from the outset.”

The recent upsurge in new Covid-19 cases is a legitimate cause of concern for many businesses as fears of another nationwide lockdown threaten the speed of economic recovery. Andrew Stephenson, director of marketing EMEA at Treasure Data, says, “The need for a solid data management strategy has never been so important. Brands are operating in a fundamentally different landscape following the pandemic, and connecting online and offline data will be critical to delivering a quality experience that keeps customers coming back.”

“With consumer spending expected to boom and marketers regaining the floor to do what they do best, there’s rarely been a better opportunity for brands to unlock that deeper understanding with data and set themselves up for success,” adds Stephenson.