Research: advertising spend reaps tangible net return
A new report by Core Media and the AAIreland has revealed the tangible benefits of advertising in Ireland
3 February 2017 | 0
A new report by Core Media and the Association of Advertisers in Ireland has revealed that every €1 invested in advertising in Ireland delivers a net return on investment of €5.44 for marketers. Marketing Multiplied outlines the importnace of marketing for economic activity as it provides jobs and boosts growth in an unambiguously positive way,
In particular, advertising is a major engine of growth, contributing 6m jobs across the EU and driving 4.6% of total EU GDP.
Marketing is a major driver of economic growth, the report says, as it provides consumers with information, encourages innovation, promotes competition and leads to lower prices. These elements all contribute to increased sales, higher employment and stronger economic activity.
Jim Power, economist and co-author of the Marketing Multiplied report, says the evidence is clear about the impact advertising has on economic growth.
“Since the 19th century, economists have analysed and argued about advertising. But the position is clear – advertising is good for growth, promotes competition, helps innovation and leads to lower prices. It oils the wheels of economies, provides jobs and boosts growth in an unambiguously positive way.
“The evidence is clear,” he added. “The influence advertising has on economic growth is extremely positive.”