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.
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.
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%).
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.
Enter your email address to keep reading ...
Marketing Strategy Articles
You may like these other MarketingProfs articles related to Marketing Strategy:
- The New Customer Journey: How to Reach B2B Buyers in 2023
- In the Age of Automation, Focus on Strategy: Agency Best-Practices
- B2B Influencer Marketing—The Good, the Bad, and the Ugly: Mike Allton on Marketing Smarts [Podcast]
- How to Recognize When It's Time to Expand Into New Digital Marketing Channels
- Direct Mail Marketing in 2023: Top Challenges and Trends
- The Top Priorities of CMOs at Enterprise B2B Firms