A survey from the Association of National Advertisers (ANA) shows that within the last 6 months, things have gone from bad to worse for marketers.
The latest survey found that:
87% of marketers surveyed plan to restrict travel and expenses (versus 63% 6 months ago)
77% are reducing ad campaign media budgets (versus 69%)
72% are reducing ad campaign production budgets ( versus 63%)
ANA president Bob Liodice said in a statement that there is a "need for brand building ... that acknowledges consumers' financial circumstances, and offers them products, services and solutions that meet their needs.
"For some marketers, that will mean skewing their media mix towards promotional spending and direct marketing. For others, it will mean framing a new, relevant and timely brand message."
More stats and details available at MediaPost's Marketing Daily.
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