Economy Shrinking 65% of CMO Ad Budgets, Money Shifts toward Digital

Nearly two-thirds (65%) of CMOs and marketing execs say their ad budgets will decrease because of the troubled economy, but more of their money will go toward digital/interactive marketing than before, according to a survey (pdf) from Epsilon.

Roughly the same percentage (63%) of the 175 CMOs and marketing execs surveyed report that their spending on interactive/digital marketing has risen, while 59% report a decrease in traditional marketing spend.

The study also finds that though CMOs are facing tough challenges in the current economic climate, 94% of those surveyed agreed with the statement, “A tough economic period is precisely the time when marketing plays a key role.”