November 20, 2008
2008 Survey Results: 10%-20% Budget Cuts Expected…But Will Cutbacks Be Deeper?
In late October 2008, SwanDog Strategic Marketing and FRC refielded elements of last year’s ground-breaking marketing research “Beyond the Collateral.”
Losses in revenue to the investment industry alone will run well into the billions of dollars. One of our goals with the survey was to learn how much of those losses Marketing is planning to absorb. Via the survey, two-thirds of marketing executives told us that they expect 10%-20% 2009 budget cuts while one-third expect cuts to exceed 20%.
As deep as even 10%-20% cuts can feel, we suspect that many chief marketing officers (CMOs) are underestimating the crisis’ impact.
The survey also asked marketers how priorities were being reset in the current environment and how they were aligning with business goals.
Please complete the form below to access Dave Swanson’s 10-minute video presentation with more about the survey findings.
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