Ipsos Mori interviewed 1,198 marketers for the survey, and found that 51% of respondents said they thought business would improve over the next 12 months, compared to 16% who thought conditions would deteriorate.

There was good news for CRM, which topped the list of marketing activities by ROI, with 21% of respondents saying it delivered the best return, followed by 12% for online advertising, and email and public relations with 11% each. Advertising (excluding online) topped the list of activities seen to offer the least ROI.

Thirty-six per cent of respondents said that the economic downturn had created new business opportunities for their company – up from 28% from six months ago.

David Thorp, director of research and professional development at CIM, said: “2010 will certainly be an interesting year for marketers, with the continuing uncertainty about an economic recovery, the UK general election and an ever-growing presence of digital and social media… For now, marketers are wisely concentrating their spend in the most effective activities, and still see the need to invest in training.”