Marketers are changing their plans due to economy
Marketers are gloomier than ever about the UK's economic outlook, according to new research from the Chartered Institute of Marketing reports Marketing magazine. The CIM's latest Marketing Trends Survey (Autumn 2008) reveals that that 73% of marketers believe the UK will be in recession in 2009, and 70% believe conditions for the UK economy will worsen in the year ahead - the highest figure since the survey began, and up 30% on this time last year.The economic downturn has meant that marketing plans have already been significantly altered by half of marketers (49%), rising to 60% of marketers in the retail, distribution and leisure sector, and 57% in the financial and other service sector.Despite the coming challenges, 47% of marketers are not worried about their job prospects in the year ahead - although a third of marketers are. Those most concerned are those in organisations with turnover of under £1m, where 42% are worried about their job, and those working in the B2C sector (37%). Only 17% of marketers expect their organisation to be expanding the size of their marketing department, down sharply from the 30% cent in the preceding Spring 2008 survey. Those anticipating cuts in the number of marketing staff have risen from 10% last time to 15% cent now.Commenting on the findings, David Thorp, director of research and information at The Chartered Institute of Marketing said: 'Despite deep concern about the prospects for the UK economy, today's professional marketers recognise that they have a key role to play in helping their organisations identify and exploit the opportunities an economic downturn brings. By creating real value for their organisations and measuring the effectiveness of their marketing activities, marketers can demonstrate clearly how indispensable they are to their organisation.'Contact DQ Global to see how they can help you increase your ROI and ensure marketing retain the stature they deserve.