Marketing through a crisis — insights from experienced marketing professionals
One minute insights:
Over half of marketers believe that the primary focus during a financial crisis should be a focus on existing customers.
Over half of marketers believe that the primary focus during a financial crisis should be a focus on existing customers.
Justifying marketing budget and ROI is a leading challenge when marketing through a disruption. 
Marketers are split on whether organizations should increase, decrease or leave marketing budgets the same when facing a financial crisis.
Most marketers believe providing data-driven insights about marketing ROI is the most effective way to communicate the value of marketing investments to senior leaders during times of financial disruption.
Most marketers are concerned about a potential recession within the next 12 months, and most believe prioritizing existing customers should be marketers primary focus
80% of surveyed marketing professionals are concerned about the possibility of their organization encountering a financial disruption within the next 12 months.
How concerned are you about the possibility of your organization encountering a financial disruption within the next 12 months?
n = 100
51% of marketers believe prioritizing existing customers should be the primary focus when adjusting their marketing strategy because of a financial disruption. Just 10% of marketers believed acquiring new customers should be the primary focus.
What should the primary focus for marketers be when adjusting their marketing strategy because of a financial disruption?
Developing the marketing team (i.e., restructuring, reskilling, etc.) 0% | Focusing on brand awareness 0%
n = 100
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Question: Any final thoughts you would like to share about marketing during a financial crisis?
Being honest and integral to someone's needs is a very effective way to communicate to your current or prospective customers during a crisis. Positioning as a partner rather than supplier to a customer, as well as being the empathetic voice, can really bring customers closer to your brand during these times.
A crisis is always a moment of opportunity, not only to connect in a meaningful (and different) and authentic way with customers, but also to create new bonds with new customers for the future.
Emphasizing the value of their products and services, and leaning into online paid advertising, are the strategies of choice for marketing through a financial crisis
Experienced marketing professionals ranked online paid advertising, email marketing, and a ffiliate marketing as their top three most reliable marketing channels when marketing through a crisis.
What top three marketing channels do you feel are most reliable when marketing through a financial disruption. Rank three.
#4 Print marketing (e.g., newspapers, journals, magazines, etc.) | #5 Traditional display marketing (e.g., billboards) #6 Event marketing | #7 PR communications | #8 Content advertising (e.g., t.v. ads, YouTube ads, etc.)
n = 100
When asked what change in marketing messaging is most effective at enabling growth during a financial disruption, over a quarter of respondents selected emphasizing the value of product/services (29%). A close second was focusing on innovation and problem solving (24%).
What change in marketing messaging is most effective at enabling growth during a financial disruption?
n = 100
Question: Any final thoughts you would like to share about marketing during a financial crisis?
It is important to focus on ROI for every campaign and not on total costs of marketing.
Marketing during a financial crisis should be to showcase best practices by which customers can use your services. Need is to be in constant touch with the customers so that they should not feel neglected and be taken care [of] in case of any adverse conditions. This gives customer's confidence in your services and they don't think of migrating to some other providers. Communication plays an important role even if the company is going through a tough phase.
Marketers are split on whether to focus on short or long-term goals, but most believe providing data-driven insights on ROI is the most effective way to align with senior leaders in a financial crisis
27% of respondents believe organizations should decrease the budget somewhat, while 27% believe organizations shouldn’t change their budget at all. An additional 25% believe organizations should increase their budget somewhat.
In your opinion, how should organizations change their marketing budgets during a financial disruption?
n = 100
Although slightly more marketers feel the focus should be long-term goals (31%) compared to short-term (29%), most marketers feel the focus should be equal across both (40%).
What should marketers focus on most during a financial crisis?
n = 100
Over half of respondents selected justifying marketing budget (59%), changes to marketing team structure (56%) and justifying ROI (55%) when asked what challenges they’ve faced marketing through a financial disruption.
What are the most significant challenges you have faced marketing through a financial disruption? Select all that apply.
Adapting to changes in customer behavior 44% | Aligning marketing with shifting business objectives 38% | Changes to marketing team leadership 37% | Maintaining leadership buy-in 23% | Collaborating with other departments 21% | Collaborating with other leadership 18% | Adjusting to changes in supply chains 16% | None of these 0% | Other (fill in) 1%
Other text: New forms of communication
n = 100
The majority of respondents feel the most effective way to communicate the value of marketing investments to senior leaders during a financial crisis is to provide data-driven insights about marketing ROI (55%)
What is the most effective way to communicate the value of marketing investments to senior leaders during a financial disruption?
n = 100
Question: Can you provide an example of a time you persuaded senior leadership to maintain or increase marketing budget during a financial disruption?
Question: Can you provide an example of a time you persuaded senior leadership to maintain or increase marketing budget during a financial disruption?
Most recently during inflation when it was heating up. We focused on the value play to maintain ARPU in an effort to stop any top line duress. I was able to communicate that the investment in an increased marketing budget early on would be effective at keeping revenue locked at higher levels when people were thinking about reducing spend.
At one time, when our company leadership wanted to significantly cut down the marketing budget, we created [a] three point marketing budget focused on customer retention, cross and upsell opportunities in potential accounts, and new logo addition through affiliate and other channels. It helped us persuade the management as the best way to retain and expand our topline.
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Respondent Breakdown
Note: May not add up to 100% due to rounding
Respondents: 100 marketing professionals with over 10 years of experience and who have marketed through a crisis