Gartner Says CMOs Remain Optimistic About Budgets Post-COVID19, Despite Bleak Outlook from C-Suite Colleagues
Gartner, Inc. (IT)
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Source: Business Wire
Survey of 432 CMOs Reveals Marketing Must Prepare for Further Budgets Cuts as a Result of COVID-19 STAMFORD, Conn.--(BUSINESS WIRE)--While companies have cut back on marketing budgets due to COVID-19, 73% of CMOs expect the pandemic’s negative impact to be short lived, with a positive outlook for business performance in the 18-24 months, according to Gartner’s CMO Spend Survey 2020. In fact, CMOs report they expect to increase investments across major channels and resource areas in 2021. Gartner warns that this outlook may be overly optimistic.This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200701005139/en/“Marketers remain stoic in the face of adversity and are significantly out of step with other members of the C-suite,” said Ewan McIntyre, vice president analyst for Gartner for Marketers. “We are seeing a significant number of CEOs and CFOs building scenario plans that include a second wave of the COVID-19 pandemic. As
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