2009 Budgets Slashed 15% or More Say Agency CEOs
In New Worldwide Partners CEO Survey
DENVER—Seventy percent of the chief executive officers taking part in the latest “Worldwide Partners Inc. Agency CEO Survey” said that their clients will cut their 2009 budgets, with over 83% of that global group saying those cuts were at least by 15%, and separately 48% of the global respondents say it will take at least 18 months for business conditions in their respective markets to improve. The CEOʼs surveyed also said that the vibe that they are picking up from clients about their outlook for 2009 is gloomy. Of the global respondents asked if their clients were more or less optimistic about 2009, 95% of agency CEOʼs said their clients were less optimistic. Among North American CEOʼs said that 94% of their clients were less optimistic about the 2009 business climate, and for non-North American CEOs that figure was an overwhelming 96%. Digital was one of the few bright spots in the survey, with half of the global CEOs citing it as a growth area in 2009. Among North American CEOs, 62% said that they think digital will grow this year, while 39% of non-North American CEOs cited it as a growth area. Traditional print and broadcast were cited as growth areas by a minute section of the sample in any region. Those are some of the findings of the most-recent “Worldwide Partners CEO Survey” which was conducted during the week of January 12 2009.
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