Most B2B companies around the world have already reduced their marketing spend because of the COVID-19 pandemic, according to recent research from McKinsey & Company.

The report was based on data from a survey conducted between April 20 and 27, 2020, among more than 3,700 B2B decision-makers in 11 countries. The researchers included respondents who work for enterprises and SMBs in a wide range of industries.

Some 62% of B2B decision-makers said their firm reduced its marketing budget because of the COVID-19 pandemic (57% of US respondents).

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image of Ayaz Nanji

Ayaz Nanji is a digital strategist and a co-founder of ICW Media, a marketing agency specializing in content and social media services for tech firms. He is also a research writer for MarketingProfs. He has worked for Google/YouTube, the Travel Channel, AOL, and the New York Times.

LinkedIn: Ayaz Nanji

Twitter: @ayaznanji