Advertising is an integral part of our daily lives, from the billboards we see on our commute to the commercials we watch during our favourite TV shows. And while it may seem like a nuisance at times, advertising plays a vital role in our economy. In fact, every £1 spent on advertising generates £6 for the UK economy.

The advertising industry is a significant contributor to the UK economy, generating £148Bn and supporting almost a million jobs. But it’s not just about the money – advertising also provides valuable information about products and services that can make our lives easier and better.
Advertising has become even more critical in a world where we’re constantly on the go.

The average UK adult spends over 3 hours a day out and about, and that’s where out-of-home (OOH) advertising comes in. OOH advertising includes billboards, bus shelters, and digital screens in public spaces, and it’s a great way for brands to reach people where they live, work and play.

And the good news is that OOH advertising is on the rise. In fact, it’s predicted that there will be a 28% growth in roadside OOH exposure in the UK in 2023. That means we can expect to see even more innovative and creative campaigns that catch our attention and leave a lasting impression.

But what about when times are tough, like during the current cost of living crisis in the UK? It may be tempting for businesses to cut back on advertising spend, but history has shown that this can actually harm businesses in the long run.

During the 2008-2009 recession, companies that increased their advertising spend saw a 1.5 times increase in sales compared to companies that decreased their ad spend. And research from McKinsey & Company found that companies that maintained or increased their marketing spend during a recession experienced higher sales growth in the years following the recession compared to companies that cut their marketing spend.

So instead of reducing advertising spend during challenging times, businesses should focus on spending smarter by targeting their audience more effectively. By understanding their audience’s needs and preferences, companies can tailor their marketing messages to resonate with them and improve the effectiveness of their campaigns.

So the next time you see a billboard on your commute or a commercial during your favourite TV show, remember that advertising isn’t just about selling products – it’s a vital part of our economy and our daily lives. And with the right approach, it can be a powerful tool for businesses to drive growth and success.