Marketing Execs: Agency Use Unaffected by Economic Climate - for Now

Although 77 percent of marketing executives say the slowing economy in the past six months has moderately or greatly affected their business, most say their agency usage has not changed - yet - according to a Reardon Smith Whittaker study (via AdWeek), writes MarketingCharts.

The study, “2008 Client’s Perspective on Economic Conditions,” found that most marketers don’t seem ready to make major adjustments to the level of their marketing activity, at least for now:

• 69 percent of respondents (see chart) said there has been no change in their use of outside marketing services over the past six months.
• 76 percent (see chart) do not foresee the number of agencies they use in 2008 changing (more than half use three or more agencies to satisfy their marketing needs).
• 60 percent (see chart) say they are generally unlikely to look for a new agency in 2008, and 28 percent say they are very unlikely to do so.

About the survey: Reardon Smith Whittaker interviewed 202 marketing executives from different-sized companies ($50MM-$2B) in March ‘08. Among the largest industries represented were packaged goods (15 percent), manufacturing/distribution (18 percent), healthcare (9 percent), retail (9 percent), and travel and tourism (6 percent).