According to a recent study, most of the global population feels that the world is heading towards economic recession in 2023 and one of the major professions affected by this is going to be marketing.
The question here was if the marketers were worried about their budgets being reduced due to the upcoming or ongoing recession.
Barry Schwartz conducted a survey on Twitter to see how marketers feel about the upcoming recession.
Among the marketers who responded, 23% were quite worried, 36.6% were moderately worried and the rest 40.4% percent weren’t worried at all.
This makes the ratio nearly half-and-half. While half of the marketers are worried, and the other half do not care. The ones who are worried feel that their search marketing budgets are going to get compromised. This includes SEO and PCC.
When being rational, one of the fronts that can be easily budgeted is search marketing which includes SEO and PCC. Limiting the marketing budget does not seem like a huge opportunity cost to the company but it is a big blow for the marketers.
For those respondents that did not care, they might belong to the class that does marketing for fun or the class that has enough money to spare. Or they might simply believe that their marketing skills are good enough to not need the money generated from search marketing.
When the same poll was posted on another platform, the results were pretty much the same. 59% of the individuals believed that their marketing budgets would not be affected.
We also believe that the recession will not affect the marketing budget but maybe we’re just being optimistic. Whatever the future might be, we refuse to be skeptical and hope that no one suffers from the upcoming recession.
Read next: This Survey Highlights Tips and Tricks for the New Marketing Landscape
by Arooj Ahmed via Digital Information World
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