As concerns about the U.S. economy grow, marketing budgets are feeling strained.
Some have already shown signs of shrinking. During recent quarterly earnings calls, for example, executives at Keurig Dr Pepper, Procter & Gamble and The Campbell Soup Company mentioned decreases in ad spend.
“Brand owners are under pressure to find cost savings,” said Tom Morton, global chief strategy officer at design and consulting agency R/GA.
Amid this period of uncertainty punctuated by layoffs big and small, marketers are making sure every ad dollar is hard at work.
WORK SMARTER - LEARN, GROW AND BE INSPIRED.
Spring Special
Save 30% Off an ADWEEK Subscription Today!
Already a member? Sign in