The study was based on an online survey of 108 client-side marketers, conducted in January and February. It found that 77% of marketers said they are being challenged to reduce costs across their marketing and advertising efforts as the nation emerges from recession. This is down from 83% that were challenged to cut costs last year and 93% in 2009.
The top areas for budget cuts include travel and expenses (70%), ad agency internal expenses (67%), production costs (55%) and media budgets (49%).
Twenty-two percent of marketers said they are expecting to see midyear budget increases this year, compared with 19% that expected midyear budget increases last year.
Only 37% of marketers said they expect to see their marketing budgets decrease this year, compared with 46% last year and 71% in 2009.