‘We have to adapt and change’: How will marketers manage marcom spend in 2024?
Optimism is in short supply as marketers face up to another year of constrained spend – but where that spend will be directed is ever-evolving.
Over three years on from the start of the pandemic, we’ve reached the end of another challenging year for brands. The dark cloud of Covid-19 still hangs over the marketing industry, raining down persistent inflationary pressures, high interest rates and a generally deteriorating economic outlook.
That said, in the UK at least, 2023 hasn’t quite matched the volatility of 2022. Inflation has slowed considerably, and the government has almost managed to keep its prime minister for an entire calendar year. But conditions have still been less than ideal, which weighed on marketing spend going into the year’s final six months.
