New State of Marketing Budget Survey Reports on Need for Precision in Marketing
- John Follett
- Dec 1, 2022
- 1 min read
Two-Thirds of UK B2B Marketers Expected to Achieve Same or More Despite Inflation and Recession Driving Current Budget Cuts
Integrate, the leader in B2B Precision Demand Marketing (PDM), today announced new research on “The State of Marketing Budgets 2022” that reveals insights on how marketers are responding to economic headwinds. The research was conducted with Demand Metric, a global research and advisory firm. The report found that nearly 60% of UK B2B marketers report current budgets being cut or staying flat and two-thirds of marketers are expected to accomplish more with fewer resources. However, despite those challenges, 74% of UK B2B marketers surveyed report having a neutral to optimistic outlook for 2023.
According to the September 2022 report from the Organization for Economic Cooperation and Development (OECD), the forecast for global economic activity will remain subdued for the rest of the year before declining in 2023. The UK has implemented multiple interest rate hikes over the course of 2022, and are now at their highest level since December 2008 in an attempt to slow inflation.
“B2B marketing has always been hard, but today, marketers are tasked with the impossible: They’re expected to do more with less,” said Colby Cavanaugh, SVP of Marketing at Integrate. “There’s never been a better time to invest in greater precision, reduce redundancies, and focus on adopting a more powerful, buyer-driven, cross-channel Precision Demand Marketing approach to maximise your marketing efforts.”
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