82% of marketers agree that with the current economic conditions, they’re challenged with identifying cost savings and reductions in their marketing and advertising efforts, per results from an Association of National Advertisers (ANA) survey. That’s down slightly from 84% last year and a high of 93% at the beginning of 2009, but remains above 2011′s 77%. The ANA conclues that “there will always be pressures on budgets, even in the best of times.”
Among the respondents who said they’re challenged with identifying cost-saving mechanisms, two-thirds said they are planning to reduce their budgets by 10% or less, virtually on par with the proportion who said the same last year. The top ways in which these marketers plan to reduce costs are by restricting department travel and expenses (58%), challenging agencies to reduct expenses and identify cost reductions (55%), reducing advertising campaign media budgets (46%) and eliminating or delaying new projects (44%). Read the rest at MarketingCharts.