58% of Marketers Are Increasing Budgets Despite Inflation Concerns

Inflation has wreaked havoc with the various industries of the world, but in spite of the fact that this is the case, marketers appear to be rather optimistic about the future. 55% of marketers who responded to a recent survey conducted by TheCommsCo stated that they are more stressed out than they were last year, but 58% stated that they are still planning to increase their marketing budgets in the upcoming year.

With all of that having been said and now out of the way, it is important to note that 45% of the marketers that responded to this survey stated that AI will be driving much of this growth. However, 34% believe that AI will have the opposite effect because of the fact that this is the sort of thing that could potentially end up boosting efficiency.

This might make marketers able to do more with less than might have been the case otherwise, but it still points to a huge gap in their perceptions with all things having been considered and taken into account. 65% of marketers are of the opinion that their productivity will see a huge boost thanks to the rise of AI, with just 13% stating that they are worried about the negative affects it might bring.

As for the biggest challenges that they are facing, 53% of marketers cited that inflation was starting to get serious for them. Despite the issues being caused by inflation, 69% claimed that things will start to look up by the time 2024 rolls around, and 70% went so far as to say that they are looking to hire more people.

Overall, marketers appear to be largely positive about how things are going to turn out. Economic conditions are improving, inflation is starting to subside, and we may be looking at a marketing sector that has a lot more momentum in the near future. 17% of marketers are treating the industry as if it is in a boom cycle, although 18% stated that they feel like times are harder than they have ever been before this present inflationary period.

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