Executive Summary (This is a document excerpt)

Forrester interviewed more than 100 marketing leaders about their response to the looming recession. On aggregate, they expect to reduce by 3% their total budgets and cut branding, advertising, and traditional media. To reduce the impact of these cuts, agencies will accelerate the integration of new media — an element few CMOs economize on. The TV industry will speed up offering addressable ads to increase the returns on traditional media budgets. Small brands will benefit most from these changes. Large advertisers will gain in the long run if they start to compete on consumer knowledge, by investing in social media, marketing analytics, and a leaner go-to-market process.

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