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Marketing Investment Through an Economic Downturn
February 08, 2023 | Article
A Deep Dive into the C-suite's Intentions
Despite the challenges of a slowing global economy, our C-Suite Outlook 2023, a global survey of over 1,100 CEOs and C-suite executives from across the world, shows that CEOs are focused on driving revenue and profit growth in 2023 to counter headwinds. Almost half of CEOs and C-suite executives (47 percent) pick an economic downturn/recession as one of their top-three concerns for 2023, followed by inflation (34 percent). A proven driver of growth in previous recessions has been marketing, and the CMO and their teams will be expected to deliver once again in the year ahead. The tactics and tools used will draw on the lessons of the past but utilize the possibilities of the present, as the pressure of the economy fuels innovation and experimentation.
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