ANA survey finds marketers focused on cutting costs

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New York—The vast majority of marketers are still focused on reducing costs as a result of the slumping economy, according to a new survey by the Association of National Advertisers.

The study, which was based on an online survey of 128 marketers in July and August, found that 87% of marketers are pursuing cost savings and reductions.

The top four areas being cut are travel (81%), advertising media (74%), agency internal costs (71%) and advertising production (64%).

Agency compensation is also being affected, with 56% of marketers planning to reduce agency compensation, compared with 32% a year ago.

Looking ahead to next year, 44% of marketers believe their budgets will remain the same, 39% said they will see reductions and 17% are hopeful their budgets will increase.

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