Despite cutbacks, CMOs remain more optimistic than CEOs

The Gartner 2020 CMO Spend Survey found that 73% of the respondents expect the short-term negative impact of COVID-19 to be short-lived whereas the World Economic Forum survey of CEOS, found that 60% believe there will be a U-shaped recession.

Forty-four percent of CMOs say they faced midyear budget cuts due to the pandemic and 11 percent say they expect to face significant cuts of more than 15 percent, according to the Gartner 2020 CMO Spend Survey. Taking the pulse of 432 CMOs, the surve