Underground Recession: The Hidden Strain on B2B CMOs

Despite robust macroeconomic indicators, a survey conducted with 121 B2B CMOs unveils a starkly different reality: an "underground recession" that significantly impacts marketing departments worldwide.

Key findings include:

• A large majority of CMOs (69%) perceive their industry to be in a recession that is not reflected in broader economic data.
• Budget cuts, longer deal cycles, staffing reductions, and an increased demand to deliver more with less are pervasive trends, making the last year one of the most challenging for these leaders.
• Despite these hurdles, opportunities for adaptation and resilience are highlighted, such as embracing digital transformation and strategic realignment to focus on critical areas like customer experience and operational efficiency.

The report advocates for CMOs to adopt new strategies to navigate these turbulent times, including expanding their roles and metrics to better reflect the full value they deliver to their organizations. It's not only a reflection on the current state but also a forward-looking guide, urging CMOs to lead with innovation and strength in the face of ongoing economic pressures.