The marketing and advertising industry is going through a “structural change”, an expert has said.
Mike Hughes, director general of the Incorporated Society of British Advertisers, said that advertising expenditure may recover from the global economic slump, but it will be “slower and lower”.
He added that the reduction and speed of advertising expenditure changes have surprised many industry insiders, with manufacturers and advertisers waiting later before spending their marketing pounds.
“One overall reduction [is] in media spend on traditional media – most people would put that at the 12 to 15 per cent level,” Mr Hughes said.
“The view on the recession and therefore the behaviour in advertising and other areas by advertisers is very different.”
A recent YouGov and Deloitte survey commissioned by the Media Guardian Edinburgh International Television Festival found that just 12 per cent of respondents chose search advertising as one of the top three marketing platforms, despite high expectations of the channel.