Results of Latest ANA Recession SurveyApril 3, 2013
By Bill Duggan, Group EVP, ANA
ANA has just released the results of our latest Recession Survey, a survey initiated in the depths of the recession in 2009 (hence the name!) and repeated annually since. The objective of the survey is to understand how the current economic atmosphere is affecting client-side marketers.
Here are topline findings:
- Marketing budgets continue to be under pressure. The great majority of marketers surveyed (82 percent) agreed that with the current economic conditions, they are challenged with identifying cost savings and reductions within their marketing and advertising efforts. The economic outlook for marketers appears to have entered a “new normal” period. There will always be pressures on budgets, even in the best of times. Marketers will continually be challenged with identifying cost savings and reductions in their marketing and advertising efforts.
- The top strategies for reducing costs of marketing and advertising efforts are departmental travel/expense restrictions followed by challenging agencies to reduce internal expenses and/or identify cost reductions. That was the focus of my last blog.
- Marketers are not overly optimistic about the future, as stable or decreasing budgets are expected. Over half (56 percent) of those surveyed say their advertising budgets will remain the same in the next six months. Just over one-quarter (27 percent) said their budgets will decrease, and the remaining 17 percent of marketers think that their advertising budgets will increase.
In this new normal period there is a short-term focus and higher levels of uncertainly — and that affects budgets. Those budgets must work harder and incremental dollars will be more difficult to come by. This will put a spotlight on marketing accountability. The “winners” in this new normal environment will be those companies that relentlessly optimize their marketing investments and media budgets to drive even greater accountability.
The complete Recession Survey results are available to ANA members.
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