Some encouraging news for the marketing industry: Expecting to find more budgets would be cut, according to a CMO Council’s report, marketers still plan to maintain or increase marketing budgets this year. The report, “Marketing Outlook ’09” surveyed more than 650 global marketing execs in 1Q and found only 50% marketers planned to cut their budgets, while 29% planned increases and 21% planned on keeping budgets flat.
When it came to budget allocations, the largest programs were in the areas of database and direct marketing (16%), followed by literature and sales collateral (15%) trade shows and conferences (11%), print advertising (8%) online advertising )8%), search marketing (8%) and social media/viral marketing 7%. As expected, marketing programs that would see an increase were in the areas of interactive/web, search marketing and social media.
What camp is your company in? Cutting, keeping or increasing your budget? We know which half will come out on top when with the cloud clears. Research has proven that smart marketers advertise aggressively during recessions realize increased sales and profits.
It’s a good time to make the investment. There’s a lot less noise, clutter and competition, and good deals to be found. Importantly, how can your customers buy from you if they don’t know about you?
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