Q4 of 2008 reported a record breaking all time high in marketing budget cuts. According to the Bellwether report, 42% of the companies in the survey reported a reduction of their marketing budget. The Q1/2009 survey reported a number of 34%, the Q2/2009 showed 28%.

The Bellwether report raises the question; are marketing executives and their managers becoming more optimistic (less pessimistic?) about the financial prospects of their company, or is their simply no marking budget left to cut? Since the trend in the budget cuts is slowing down for two quarters since the Q4/2008 survey, Bellwether is optimistic the bottom is in reach. However, companies will remain under pressure to cut marketing costs end become more efficient. More for less is no longer a desire but a necessity.

According to the marketing supply chain, 52% of marketers are already making changes to plans and budgets as a result of the economic crisis. The Aberdeen Group reports that 64% are instituting regular collaboration between procurement and marketing.

In July of 2008 we reported that is was time to tackle the trend and rationalize -and possibly reduce- marketing expenses. Marketing was already under growing pressure and the crisis has accelerated the need for marketing operation excellence even further. So we wonder, will the crisis help to create a new mindset, resulting in marketing to become more relevant? There is no need to wait silently for the crisis to pass by and hope marketing budgets will increase. By becoming more accountable it is possible to have better arguments in budget discussions and bring relieve to the performance pressure of the marketing department.