Study: 60% Of Large Companies Cutting Marketing Budgets

Marketing execs polled by MarketingSherpa for its “Marketing During An Economic Downturn (pdf)” report are giving a version of a theme we’ve heard a lot of, lately. The storyline: big marketers are cutting back overall budgets this year, but not not online spending, which is being largely left intact or getting a small increase in 2008.

Total budgets down: 60% of large companies had either cut or are planning to cut marketing budgets 2008, the survey says, compared to 29% of midsized marketers and only 13% of small ones. Only 16% of big marketers said they were increasing budgets, and 19% reported no change.

Online budgets flat, or up slightly: 38% said they planned to increase online spending, while 45% said online spending would stay the same in 2008. Only 17% said they expected to reduce online marketing, compared to 36% for offline media.

That fits with what the ad holding companies have been telling us about 2008: slower growth for digital ad spending than projected last year, but still healthy growth, compared to offline.

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