Marketers are reaching into their pockets—some, anyway: 47% expect to spend more this year, although 45% say their budgets will remain flat, according to The State of Marketing, a new global study from HubSpot, based on multiple surveys and sources. Only 7% expect a decrease.
But email teams shouldn’t start spending the money: The same marketers expect to make strategic budget cuts in these channels:
Why these cuts? For one thing, email open rates went down across the board by over 12% in 2022. It’s not clear if this reflects the impact of Apple’s MPP.
Web traffic was overall down over 6% in 2022 compared to 2021.
It’s not all bad news: web conversions rose by nearly 11% increase, and inbound leads by 6.66%.
And even in a recession, marketers expect to keep spending on:
What can an email marketer do to keep pace?
As part of the study, Litmus offers these suggestions for maintaining email engagement:
In a more general way, it advises marketers to:
Finally, to boost retention, marketers should:
It’s not clear how an email unit will achieve all this with a reduced budget. Perhaps the answer is ChatGPT.
HubSpot conducted several surveys of 1,200 global B2B and B2C marketers.