Imagine walking into your boss's office, being told your 2025 targets are up and your budget is down, and to drop a revised plan on their desk by next week. This would normally come as a shock, except you probably heard the same words hastily uttered this time last year.
Brand managers have been staring into a perfect storm hovering over the economic horizon all year and appear no closer to predicting future consumer habits with any certainty. Escalating global unrest, a prolonged high cost of living and a rapidly changing employment paradigm have challenged even the best product developers, strategists and marketing mavens.
Doing more with less has become more than just a recurring theme, it’s become a marching order brought about by the rising cost of labor and paid media, combined with increased competition and shrinking marketing budgets. As a result, growing brand awareness and generating leads has never been harder and more costly, especially when you factor in the shiny new entrants joining the market.