A breakdown of the IPA's Q4 2022 Bellwether Report

Today, the IPA released Q4 2022’s Bellwether Report. The Report is researched and published by S&P Global on behalf of the IPA. It  features original data drawn from a panel of around 300 UK marketing professionals and provides a key indicator of the health of the economy. The report also helps us, as an industry, look to the near future and aids us in what to expect.

The survey panel has been carefully selected to represent all key business sectors, drawn primarily from the nation’s top 1000 companies.

So what were the key findings of the report? And how should we react? Well, I spoke to three of my colleagues about specific areas of the report.

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Team MAG: 2023 Industry Predictions

The past couple of years have been unpredictable to say the least, but here at MAG, we are  interested in how unpredictably shapes our industry and how we overcome challenges and utilise opportunities to push the best campaigns out into the world, despite everything. With that being said, I sat down with three of Team MAG, all with the very best expertise in their field to find out their predictions and projections for the advertising industry in 2023.

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Understanding your consumer: psychographics

Psychographics is the qualitative methodology of studying consumers based on psychological characteristics and traits such as values, desires, goals, interests and lifestyle choices. 

In Marketing we’re used to demographics, which explain who your buyer is, includes objective data like gender, age, income and marital status.  However, psychographics in marketing  delves deeper and focuses on understanding the consumer’s emotions and values, so you can market more accurately. 

Psychographic information explains why they buy , and subjective data like belief systems, values, goals and attitudes. 

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Are young people still watching TV?

Earlier this year, Ofcom released their Communications Market Report, in which they stated: ‘Younger adults (aged 16-24) now watch almost seven times less scheduled TV than those aged 65 and over’ and ‘TV broadcasters' share of TV and video viewing had fallen to 59% in 2021, down from 67% in 2019.’ 

However, whilst these figures are true- we as an agency know that young people are actually still watching TV, but they ways in which they are watching has changed. 

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