Marketers Upbeat About 2024, But Still Worry About Inflation: Study

Marketers and PR people are in a wary mood, judging by a new study from CommsCo PR. 

Of those polled, 55% are more stressed than they were this time last year, and 63% now say they are expected to do more with less. 

But they are pushing ahead — 58% are increasing their budgets, versus 26% who are reducing them. Another 16% are keeping their budgets the same.  

Meanwhile, 45% believe AI will drive more investment in marketing, while 34% believe it will lead to reductions.  

In addition, 65% say AI will drive a wave of productivity. Only 13% are nervous about AI.  

In general, 65% say they are “ticking over but could use more investment or new business,” the study found. Of the remaining group, 18% feel times are more difficult, while 17% are in boom mode.

That said, 53% feel inflation is the biggest negative they face. But 69% feel business will pick up in 2024, and 70% are in a hiring mode.  

“Marcomms professionals are clearly coming under pressure, and feel like a lot of us, the need to do more with less,” says Leah Jones, deputy managing director at CommsCo PR. 

But Jones adds: “After a lot of negative–or at least anxious–news about AI, it’s great to see the marketing profession embracing technology and seeing the benefits, rather than viewing it as a threat. Ultimately, it’s encouraging to see so many optimists looking ahead to 2024.”

CommsCo PR surveyed 250 marketing and communications professionals. 


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