Everyone is being asked to make do with less, one way or another. Layoffs are back, and hiring freezes are even more back. And even if growth is strong, folks are getting more conservative. They want less spend for more output.
And what often gets cut first, and what investors especially push on, is to cut back marketing. Unless it can get us more deals right now, this month.
And indeed, that’s what we’re seeing in one of the latest SaaStr polls:
- 20% of you are really cutting your market budgets hard, 30% or more
- 17% of you are cutting them a bit, 10%-20%. This seems pretty common where cash is an issue.
- 29% of you are keeping it flat. Which sometimes really is down, if you have to add more pipeline in 2023 with the same budget.
- 34% of you are increasing your marketing budget. This isn’t the majority, but importantly, it is the largest category.
So look, a lot of the theme of SaaStr these days is yes, things are harder than a year ago. But so they should be. And Cloud and SaaS are still growing. So you have to play to your strengths, and your pockets of strengths.
If you sell marketing tools, well, 34% of folks are still increasing their budgets. Go find them. Sell better. Write better outbound emails. Adjust your pitch. Really, truly prove your ROI to markets. Because the customers aren’t gone. In fact, many are doing better than ever. It’s just harder.
See also, sales productivity tools, and many other categories.
Budgets aren’t gone. They’re just under a lot more scrutiny, from a lot more stakeholders. And perhaps, that’s how it should be. And every category of buyers has a segment still growing quickly. Go find them.