Eighty-one percent of marketing leaders have established a contingency plan to respond to disruptions, according to a survey by Gartner, Inc. However, just 21% of respondents said they follow these plans, as marketers weather the storm of continued economic and geopolitical uncertainty.
A Gartner survey of nearly 400 marketing leaders conducted in November and December 2022 revealed that 44% of digital marketing leaders who enacted a contingency plan during an economic disruption event exceeded organization year-over-year profit growth.
“With ongoing economic and geopolitical disruption, contingency plans are more important than ever,” said Greg Carlucci, Senior Director Analyst in the Gartner Marketing practice. “Having a plan is a good first step, but following through on that plan when disruption occurs is what really matters.”
Marketers Fight Disruption With Budget Agility
Nearly all respondents reported adjusting their marketing budgets in response to the current economic environment.
Positive budget adjustments are an effective way to counter disruption: Respondents who increased spending relative to their contingency plan were nearly two times more likely to achieve year-over-year profit growth than those who decreased spending or did nothing.
In contrast, just 5% of respondents decreased their spend, reflecting marketing leaders’ increased appetite for budget to deliver against their organizational objectives.
The three most utilized digital channels for B2B marketing organizations executing their 2022 marketing strategy were email marketing, social advertising and SEO, highlighting the effectiveness of these channels during times of disruption.
Gartner clients can read more in “2023 Multichannel Marketing Survey: How Proactive Plans Help Leaders During Challenging Times.” More information is available in the complimentary Gartner webinar, “Rethink Your Multichannel Marketing Strategy To Be Best-in-class.”
About the Gartner Marketing Symposium/Xpo
Gartner analysts will discuss the key issues facing CMOs during the Gartner Marketing Symposium/Xpo, taking place in Denver, CO May 22-24, 2023. This conference provides marketing leaders actionable advice about the trends, tools and emerging technologies they need to deliver business results. Follow news and updates for the conference on the Gartner Newsroom and on Twitter and LinkedIn using #GartnerMKTG.
About Gartner for Marketers
Gartner for Marketers provides the objective, expert advice, and proven tools that CMOs and other marketing leaders need to seize the right opportunities with clarity and confidence, and to stay ahead of the trends that matter. With in-depth research and analysis, Gartner for Marketers helps you focus on the opportunities with the greatest potential to deliver results. More information on Gartner for Marketers is available online at www.gartner.com/marketing. Follow news and updates from the Gartner Marketing practice on Twitter and LinkedIn using #GartnerMKTG. Members of the media can find additional information and insights in the Gartner Marketing Newsroom.