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Right now, some people will absolutely, 100% say that we’re in, without a doubt, a recession. Others will say that we’re absolutely, positively not in a recession. I think those people should argue with a brick wall. Regardless of where you might personally stand, there’s a lot of ambiguity about what’s actually going on; I’m here to clear it up.
When a recession happens, typically, marketers are the first to see budget cuts, so it’s no surprise that folks (perhaps yourself included) are starting to raise eyebrows at the brands and companies that they work for about what’s to come, whether or not their roles will be impacted, and how priorities might genuinely, quickly shift.
To help you (and other marketers) recognize that these sentiments aren’t felt in isolation, the HubSpot Blog surveyed 150 marketing and advertising professionals to find out exactly how (i.e., through staffing investments, budget reductions, etc.) you’ll be impacted by a recession, how consumer behavior is changing because of financial uncertainties, and finally, in turn, what marketing strategies folks are leaning on to make marketing thrive — even despite constraints.
I’ll also offer tips and resources (with lots of perspective) to help you navigate this transitional time.
Let’s get to it.
Table of Contents:
Though not surprising, the biggest impact marketers are seeing is that consumers are cutting costs back due to — and you probably guessed this already — a genuine fear of what’s to come.
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