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How 3 CMOs Grapple With Budget Changes Due to COVID-19

June 2, 2020

Via: CMSWire

Here’s a non-shocker: U.S. marketing spend is falling and will continue to do so. And hundreds of thousands of marketers will be out of jobs. US jobless claims passed the 40 million mark last week, after all.

Just how bad is it out there for marketers with the COVID-19 health pandemic still far from over? Forrester predicted in a May report (fee required) the U.S., in the most optimistic scenario, will see a 28% drop in marketing spend by the end of 2021, with media, services, technology and internal headcount all taking a hit.

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