2023 is already on the horizon and does not predict a very promising future for marketers. The economic recession is an increasingly palpable reality and will probably hit marketers fiercely over the next twelve months. According to WARC’s “Marketer’s Toolkit 2023: Global Trends Report” , 95% of marketers predict that the imminent global economic recession will fully impact them over the next year. To conduct its study, WARC interviewed more than 1,700 marketing executives around the world and also conducted in-depth interviews with 13 marketing leaders.
The recession blows its icy breath down the necks of marketers
In line with the gloomy panorama that brands will foreseeably top industry data have to deal with in the coming months, 36% of marketers will snip their marketing budgets, although 31% will choose to give them a boost . And at a time when the consumer is more ready than ever to look at cheaper alternatives, brands must ensure that they remain leveraged in the “top of mind” of their target (and to do so they must continue investing necessarily in advertising). To connect with the consumer in the current tumultuous and uncertain economic context, brands must carefully analyze the elasticity of their pricing policy and rely on humor (well used) in their messages , recommends WARC.
Big Tech will see its power diminished
On the other hand, 62% of marketers agree that “Big Tech” will have no choice but to force a change in their strategies to adequately deal with changes in the market. After all, growth (once rapid) is slowing in the technology sector (including digital advertising and e-commerce) and the duopoly formed by Alphabet and Meta is threatened. For the first time in six years, 30% of marketers DJ USA plan to cut their investment in Meta, compared to 23% who plan to increase their marketing budgets there. In the eyes of brands, and for the third consecutive year, artificial intelligence continues to be the most relevant emerging technology in the marketing universe.
