Marketing Spending and Hiring Growth Slows Amidst Economic Uncertainty
Mar 28, 2023 |
Results from the 30th edition of The CMO Survey indicate that inflation and economic uncertainty are harming marketing spending as the C-suite retrenches and cuts costs. While more than half of marketers reported a 10.4 percent increase over the previous year in the September 2022 survey, this group is reporting just 2.9 percent growth over the last 12 months, on average. Survey respondents included 314 marketing leaders at for-profit U.S. companies, 97 percent of whom are VP-level or higher.