3-29-23

How marketers are navigating current times...

March 29, 2023

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What's Happening

Elon Musk says Twitter will only show verified accounts on its algorithmic timeline
Zoom is adding new features to compete with Slack, Calendly, Google and Microsoft
Michelob Ultra strikes sponsor deal with new Women’s Sports Network

3 Ways Marketers are Navigating a Potential RecessionThere's a lot of talk about a recession these days. Whether we're in it or it's coming, marketers are paying close attention.Hubspot surveyed 300 marketers to find out exactly how they are being impacted by the recession.Here's what they found out: 47% of marketers said that the economy was already having a negative impact on their work. Consumers are spending less and exercising more caution/discretion: No major surprise here. "From inflation to geopolitical uncertainty and lingering COVID-19 concerns, consumers simply have no idea what to expect from the future." Inflation has made everything more expensive across businesses: Raising prices while consumers spend less is creating a major misalignment. 37% of marketers have already seen budget cuts: Marketers are having to spend more to get similar results from months ago while budgets are being cut. Takeaway: Whether you've been impacted or not, it's always important to have a backup or pivot plan in place. Marketers are being forced to get creative and make more happen with less.