Business Insider – Marketing is typically the first expense companies cut in economic downturns or times of uncertainty. A Gartner study found that marketing budgets dropped to their lowest level in recent history following the pandemic and have yet to fully recover. 2020 was also a brutal year in human terms, with 50,000 advertising jobs shed.
“Predicting agency growth strategies has never been more challenging as marketers continue to make knee-jerk post-COVID reactions,” said Greg Paull, cofounder and principal of consulting firm R3.
