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16 November 2022
CMOs feel the heat
Marketing in a recessionManaging the marketing functionMarketing budgets
As businesses around the world financially prepare for the tough times ahead, CMOs are being pushed to do more with less and to prove short-term ROMI, finds research* by LinkedIn.
Why it matters
The majority (78%) of B2B marketing leaders believe companies that maintain or increase marketing spend during periods of uncertainty recover faster. The challenge is to persuade their CFOs of that.
As business leaders look at reducing investment in marketing and advertising, along with technology and talent, 90% say improving CFO understanding of ROMI is key to bolstering future budgets.
Three-quarters (77%) of B2B CMOs globally feel under pressure to prove their marketing campaigns have greater short-term return on investment (ROI).
CMOs in general are concerned that uncertainty will force them to operate more reactively (30%) and curb creative campaigns (31%).
When advertisers paused advertising for a year or more, sales for brands of all sizes – whether small, medium or large – dropped by nearly 50%.
To stay top of mind, B2B marketers are keen to continue focusing on brand building, with more than two-thirds (67%) planning to maintain or increase spend in this area over the next six months.
“Maintaining existing budgets and strengthening future ones is dependent on marketers’ ability to speak the language of the CFO, ask the right questions, and pull the right strategic levers that ladder up to business objectives” – Tom Pepper, Senior Director, EMEA and LATAM, LinkedIn Marketing Solutions.
*LinkedIn surveyed 2,929 C-level executives, including 494 CMOs, from organisations with 1,000+ employees and annual turnover of £250m+. A separate LinkedIn’s B2B Marketer Sentiment study involved polling 1,703 senior B2B marketing leaders around the world.Both took place in September/October.