A recent survey conducted by the World Federation of Advertisers (WFA) and consultancy firm The Intangibles reveals a heightened sense of risk and unpredictability in the current marketing landscape. The survey, which gathered insights from 29 Chief Marketing Officers (CMOs) and senior policy leads representing $65 billion in annual marketing expenditure, indicates that 83% of marketers find the current times more unpredictable than a year ago, with 81% agreeing that the operating environment is riskier.

The research highlights the geopolitical environment and economic outlook as primary concerns, scoring 8.4 and 8.1 out of 10, respectively. These are followed by tightening regulations (6.9), fast-moving technology (6.3), and social media platform policies (6.1). The findings suggest that these factors are influencing brand behaviour and decision-making processes.

Increased scrutiny from boards and CEOs is also noted, with 50% of marketers reporting more attention from boards and 52% stating that CEOs are closely monitoring marketing campaigns. Furthermore, 82% of marketers agree that budgets are under heavier scrutiny compared to a year ago.

The survey shows a shift in focus towards short-term objectives and risk management, with 81% of marketers taking more time to review brand positions and values. Half of the respondents are concentrating more on short-term goals. Additionally, 93% of marketers agree that the operating environment is less predictable than 12 months ago, and 78% say it no longer feels like 'business as usual'.

A retreat from globalization is also noted, with 82% of marketers feeling this shift and 68% changing the markets they prioritize for investment. Despite the challenges, 60% of marketers disagree with the statement that there are 'more opportunities than challenges'.

The survey results indicate a trend towards greater due diligence in marketing communications, with 74% of marketers applying more rigorous checks. There is also an increase in cross-functional collaboration, reported by 74% of respondents, to mitigate risk. Additionally, 61% of marketers are developing responsibility frameworks to address marketing risks, and 53% are taking steps to reduce risks associated with influencer collaborations.

WFA CEO Stephan Loerke commented on the findings: "Brand executives clearly sense a more unpredictable and volatile market. They are being asked to manage risk while also delivering on growth objectives. Greater due diligence, enhanced cross-functional collaboration and risk mitigation frameworks are all demonstrating their value in an operating environment where stakeholder scrutiny is at a record high."

Jon Wilkins, Founding Partner of The Intangibles, stated: "There’s no doubt the waters are choppier than they have been before. There is risk in most aspects of strategy and planning for businesses and brands. What we have noticed is that clients who have invested in longer term thinking, platforms, frameworks and scenario planning, clients who are consistently monitoring against their specific risk profile, are making better decisions. Having a compass in a storm is not a nice to have it's a mandatory."