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Marketing Execs: Agency Use Unaffected by Economic Climate - for Now
Although 77% of marketing executives say the slowing economy in the past six months has moderately or greatly affected their business, most say their agency usage has not changed - yet - according to a Reardon Smith Whittaker study (via AdWeek).
The study, ”2008 Client’s Perspective on Economic Conditions,” found that most marketers don’t seem ready to make major adjustments to the level of their marketing activity, at least for now:
- 69% of respondents said there has been no change in their use of outside marketing services over the past six months:
- 76% do not foresee the number of agencies they use in 2008 changing (more than half use three or more agencies to satisfy their marketing needs):
- 60% say they are generally unlikely to look for a new agency in 2008, and 28% say they are very unlikely to do so:
About the survey: Reardon Smith Whittaker interviewed 202 marketing executives from different-sized companies ($50MM-$2B) in March ‘08. Among the largest industries represented were packaged goods (15%), manufacturing/distribution (18%), healthcare (9%), retail (9%), and travel and tourism (6%).
