Marketing leaders in the UK are expected for a “bullish” year, with over 70% planning on boosting digital budgets, new data has revealed.

According to findings by content agency No Brainer, 2024 is expected to see a resurgence in industry optimism, with further investments in AI, websites, SEO, broadcast and podcasts.

Subscribe to Mobile Marketing Magazine

Click here to get the latest marketing news free in your inbox every Thursday

The research found that 64% of marketing leaders are to increase spending on AI by as much as 60%, compared with 64% increasing spend on websites, SEO 62% and influencer marketing 56%, respectively.

Some 57% added they were going to increase spend on content marketing by 60%.

No Brainer, Director, Gary Jenkins said: ” Four years of rising costs, inflationary pressures, and squeezed budgets has made life tough for UK marketing leaders tasked with delivering growth, but we’re expecting to see that turnaround in 2024 with many taking a more bullish approach in terms of spending power.

“This is great to see, and not just because we play in this space, but because if businesses of all sizes are serious about recovery and growth, then investing strategically in the right areas of marketing is crucial. Sadly, in challenging times, these are the things that can often be the first cut.”

He added: “When every penny matters, as it has in recent years, then there’s a laser focus on marketing leaders proving the value of every pound they spend, and quite rightly. It’s got everyone challenging the ROI of their spending across every marketing sector, and the same rule should apply to these increased budgets.

“It’s about putting them to best use. A solid, strategically planned marketing strategy can unlock new audiences, drive more revenue from existing ones, and drive more brand loyalty and advocacy, so it’s still a case of spending smart, even if spending more.”

The news follows predictions by Dentsu’s December Global Ad Spend Forecast revealing global advertising spending in 2024 is set to grow by 4.6%.

The data revealed ad spending will grow by $33 billion to $752.8 billion, thanks to digital, CTV and retail media.