The WARC Global Marketing Index (GMI) provides a unique monthly indicator of the state of the global marketing industry.
This is done by tracking the rate of growth or decline across current trading conditions, marketing budgets and staffing levels polled monthly from a panel of more than 1000 marketing executives.
Key insights from June 2022 show the Global Marketing Index continues to decrease in the rate of growth at 56.6 from 59.8.
This comes as the possibility of a global recession has become apparent, leading to some companies cutting marketing budgets.
However, analysis by Analytic Partners shows that brands that cut their marketing budgets during a recession leave themselves at a long-term disadvantage.
Although all regions remain in growth, global marketing budgets see a notable fall in rate of growth. OOH budgets continue to see an increased rate of growth.
The index value in European marketing budgets and trading conditions deepen in rate of decline, showing the lowest rate at 52.0 from 53.6 in May.
Despite the decrease in growth, the index value in APAC shows the highest rate of growth at 63.9 from 66.8 in May.
The Americas saw a notable decrease rate of growth in marketing budgets and trading conditions from 59.6 in May to 54.7 in June.
The WARC global panel consists of experienced executives working for brand owners, media owners, creative and media agencies and other organisations serving the marketing industry.
The panel has been carefully selected to reflect trends in the three main global regions: Americas, Asia Pacific and Europe.
Last month, WARC released its 2022 update of its highly successful Anatomy of Effectiveness report at Cannes Lions.
Three years on from the initial launch, the updated WARC paper aims to give brand marketers, advertising agencies and media owners a fresh perspective on the five key building blocks of effective marketing