Eighty-one percent of marketing leaders have established a contingency plan to respond to disruptions, according to a survey by Gartner, but just 21% of respondents said they follow these plans, as marketers weather the storm of continued economic and geopolitical uncertainty.
A Gartner survey of nearly 400 marketing leaders conducted in November and December 2022 revealed that 44% of digital marketing leaders who enacted a contingency plan during an economic disruption event exceeded organization year-over-year profit growth.
“With ongoing economic and geopolitical disruption, contingency plans are more important than ever,” said Greg Carlucci, Senior Director Analyst in the Gartner Marketing practice. “Having a plan is a good first step, but following through on that plan when disruption occurs is what really matters.”
Nearly all respondents reported adjusting their marketing budgets in response to the current economic environment.
Positive budget adjustments are an effective way to counter disruption: Respondents who increased spending relative to their contingency plan were nearly two times more likely to achieve year-over-year profit growth than those who decreased spending or did nothing.
In contrast, just 5% of respondents decreased their spend, reflecting marketing leaders’ increased appetite for budget to deliver against their organizational objectives.
The three most utilized digital channels for B2B marketing organisations executing their 2022 marketing strategy were email marketing, social advertising and SEO, highlighting the effectiveness of these channels during times of disruption.