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Recession Planning: Should You Cut Your Marketing Budget?

Zoominfo

Record-high consumer spending followed by record-high inflation. We surveyed nearly 250 marketers , and while 59% of respondents said they either were not adjusting their budgets or weren’t making significant changes, almost 40% said they were cutting back on marketing spend in anticipation of a recession. You get it.

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7 Digital Trends Defining B2B Social Media Marketing in 2024

sagefrog

According to the Gartner 2023 CMO Spend and Strategy Survey, marketing budgets have remained flat year-over-year at 9.1% According to the Gartner 2023 CMO Spend and Strategy Survey, marketing budgets have remained flat year-over-year at 9.1% However, in 2024, there’s a shift towards targeting the upper funnel.

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Customer Lifecycle: How to Make Upsells and Renewals a No-Brainer [+Action Tips]

Zoominfo

For instance, according to Gartner, B2B buyers spend only 17% of the total purchase journey with sales reps. Like the buyer’s journey , which is more flywheel than a traditional funnel, the customer might touch each stage multiple times. And 44% of millennials prefer no sales rep interaction at all in a B2B setting.

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Customer Lifecycle: How to Make Upsells and Renewals a No-Brainer [+Action Tips]

Zoominfo

For instance, according to Gartner, B2B buyers spend only 17% of the total purchase journey with sales reps. Like the buyer’s journey, which is more flywheel than a traditional funnel, the customer might touch each stage multiple times. And 44% of millennials prefer no sales rep interaction at all in a B2B setting.

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Five Impacts of CMO Budget Cuts – Gartner 2021 CMO Spend Survey

Webbiquity

According to Gartner’s annual CMO Spend Survey, as reported by Laurie Sullivan in MediaPost , “Marketing budgets as a percentage of revenue fell to their lowest level in recent history…Marketing budgets as a proportion of company revenue fell from 11% in 2020 to 6.4% Online Advertising Will Take a Hit.

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Buying group marketing: The next evolution of ABM

Martech

According to Gartner, the average buying team size is between 14 and 23 people, and that depends on the size of the spend,” she said. This approach allowed us to extend our marketing efforts and connect the top-of-funnel to the bottom-of-funnel and drive measurable results,” she added. And, the data backs this up.

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What Brand Marketing and Anchovies Have in Common

B2B Marketing Directions

The CEB Research For example, a 2013 study by CEB (now part of Gartner) compared the behaviors of high brand consideration customers with those of no brand consideration customers. The analysis found that consistent brand advertising increased consideration performance by 25%, while non-advertisers saw consideration decline 10% - 15%.