Trends Report

The 2020 COVID-19 Crisis Will Stun US Marketing

CMOs: Apply An Adaptive Approach To Manage The Downturn

May 6th, 2020
With contributors:
Keith Johnston , Collin Colburn , Lori Wizdo , Nick Monroe , Sam Karpinski , Jim Nail , Bret Sanford-Chung , Lexie Lawhon , Rachel Birrell

Summary

The next two years will be difficult, no matter how quickly the COVID-19 crisis ends. In our most optimistic scenario, Forrester projects a 28% drop in US marketing spend — including media, services, technology, and internal headcount — by the end of 2021. Offline media, agency services, and staff payroll will suffer most. But today's dire situation will also force the pivot to more adaptive planning and operations that many CMOs had delayed during better days. Read this report to understand the expected marketing budget cuts and how to remain agile as the situation unfolds.

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