Business leaders are rethinking their plans for 2023 in light of the economic challenges such as 40-year high inflation, talent shortages and disruption in global supply chains. In fact, 66% of CFOs plan to increase investment in digital acceleration to build resilience and efficiency. This is welcoming news to software marketers looking to capitalize on existing demand, and those working for established brands tend to benefit when buying committees are more risk-averse.
However, innovative competitors have an opportunity to earn mindshare when larger enterprises react slowly to shifting customer needs. Research shows that the companies that bounced back strongly from previous recessions did not cut their marketing spend, and in many cases increased it. They did, however, change how they were spending and when they chose to adapt to the changing tides.
With complex marketing programs, software enterprises should start looking for fast answers to improve budget efficiency and campaign execution. Some insight can be found by using the Now, Near, Next framework.