While the C-Suite’s Post-Pandemic Outlook Is Bleak, CMOs Remain Optimistic
Survey finds 55% of CMOs expect their budgets to increase in 2021
Gartner analysts warn that CMOs might be too overly optimistic about post-Covid-19 recovery.
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Key insights:
- Despite nearly half of CMOs seeing budget cuts in 2020, 68% expect to increase their investments.
- Every crisis has its opportunities, but Covid-19's economic impact is expected to hurt long-term prospects.
How long the economic impact of Covid-19 will last has chief marketing officers at odds with the rest of their C-Suite. In April, one survey found that 72% of CFOs expected the pandemic to have a significant impact on their businesses; however, CMOs are much more bullish about the economy and how the pandemic will impact it.
