Survey: Advertisers To Slash Ad Budgets
August 25, 2008 at 5:16 AM (PT)
Not great news for Sales Managers looking for a better quarter ahead, as advertisers from a broad cross-section of categories and industries are looking to trim their advertising budgets in the face of the ongoing economic downturn, according to a new survey from the ASSOCIATION OF NATIONAL ADVERTISERS. BIZJOURNALS.COM reports more than half of the 100 marketing executives surveyed -- about 53% -- expect their ad budgets to be reduced over the next six months as a result of the tough economic climate, according to the survey.
Also, 87% of those polled said they are already being challenged with identifying cost savings or reductions with current advertising efforts.
The NEW YORK-based ASSOCIATION OF NATIONAL ADVERTISERS conducted the survey this summer, in light of the economic downturn, and asked ANA members if they thought their marketing budgets were going to be reduced -- 53% said that they thought their marketing budgets would be reduced by between 1 and 10%; 27% thought their budgets would be reduced by between 11 and 20%; and 10% of those surveyed said budget cuts would be more than 30%.