Tighter marketing and advertising budgets

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The combined effect of inflation and the upcoming recession will cause many companies to reduce their budgets in 2023. 42.3% of the CMO survey4 respondents said they’re decreasing spending due to inflation. The study also found that 64.9% of companies surveyed have already increased prices to cope with inflation.


Marketers are in a tough spot. They have to prove the value of new and existing marketing india mobile database channels, as well as their strategic value to business leadership in order to secure departmental funding. At the same time, they must find ways to reaffirm their brand’s value to customers who are facing new price hikes and supply chain shortage frustrations.


The digital channels many marketers are investing in are also expensive. Survey respondents report that 57.9% of their marketing budgets went toward digital modes like SEO, influencer marketing, and content marketing in 2022. And these channels often don’t come with instant KPIs you can take to leadership to justify increased spend. Take SEO content campaigns. While it’s a powerful tool, it often takes months–if not longer–to see tangible results.