When Marketers Expect the Economy to ImproveClick here to see larger, printable version of this chart
Our first Chart of the Week for 2009 looks at the recession. To start off the New Year, we compiled recent data on when marketers expect the economy to begin a turnaround.
To get the most relevant data, we used a sub-group of VP and C-level respondents. Tasked with long-term budgeting, they were more likely to have a stronger and more educated opinion than most. We also split out executives at small businesses versus large companies. The latter tend to have more resources focused on financial projection.
Remember, our respondents have financial responsibilities, but they’re marketers – not CFOs. We’re interested in their responses for exactly that reason. Marketers spend money, and their collective psychology will be an essential element of the revival of all industries – especially those related to marketing and advertising. So, what did they say?
Regardless of company size, most marketers look at 2010 as the year we emerge from the recession and start to see significant growth. Small businesses are more optimistic; nearly 40% predict some improvement in 2009, and another 35% look at the first half of 2010 for signs of positive change. Large organizations are bearish; 21% suggest 2009, and 60% identify 2010 or 2011 for a reversal of fortune.
A key thing to know about mass economic psychology? It can turn quickly. As the first signs of growth emerge, we can expect to see a powerful shift in opinion. In the meantime, we’ll focus on data that explores inexpensive and high-return methods to improve the performance of your marketing programs.Useful links related to this articleNot a Subscriber to Sherpa's Chart of the Week? Click Here to Get a New Chart Delivered to Your Inbox Every Tuesday!
More Research Data from Sherpa:
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