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Optimism for the US economy has plummeted among senior marketers, according to recent research from The CMO Survey.

The report was based on data from a survey conducted in July and August, 2022, among 273 marketing leaders at companies in the United States.

Respondents give their optimism for the US economy an average score of 57 (on a 1-100 scale), a significant drop from the average score of 70 they gave the US economy in August 2021.

B2B marketers are somewhat more optimistic for the US economy compared with B2C marketers, the researchers found.

Optimism for the US economy CMO survey results

Some 42% of marketing leaders say inflation is making them decrease their marketing spend, 17% say it is making them increase their spend, and 41% say it is having no impact.

How inflation is influencing marketing spend survey results

Despite concerns about the US economy, senior marketers still expect their teams to grow in the next year.

Marketers who work for B2B services firms expect to see the biggest increase in hiring (+12%, on average) and respondents who work for B2C services firms expect to see the smallest increase (+5%).

Hiring growth in the next year CMO survey results

About the research: The report was based on data from a survey conducted in July and August, 2022, among 273 marketing leaders at US companies.

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ABOUT THE AUTHOR

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