Marketing budgets fall under heavy scrutiny as risk of prolonged slowdown in 2023 rises (digiday.com)

Come next year things are going to go from bad to worse. Senior marketers know it and are already making contingency plans. Read: rationalizing ad dollars.

Less than a third (29%) of the world’s largest advertisers plan to slash ad dollars next year, according to a study of 43 multinational companies from the World Federation of Advertisers (WFA) and Ebiquity. Three quarters of the sample “agree strongly” or “agree” that 2023 budgets are under heavy scrutiny.

Marketers are already being required to justify their investments. For many of them, 2023 will feel a lot like a recession.

It’s not all doom and gloom. Some of those marketers surveyed (28%) claim they will invest more next year, per the study.
more at: https://digiday.com/marketing/marketing-budgets-fall-under-heavy-scrutiny-as-risk-of-prolonged-slowdown-in-2023-rises/

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