Marketers in the financial sector are fearful for their own positions and the health of the UK economy over the next 12 months, a survey by the Chartered Institute of Marketing has revealed.

The research found that 71% of financial marketers believe the economy will worsen over the next year, more than any other sector. But 12% thought it would improve, compared to 9% in Spring 2008.

Just 28% of respondents said business would improve in their own company in the next 12 months, down from 42% in Spring, while 30% expected conditions to deteriorate further and 36% said they feared for their job.

"Marketers in the financial sector should focus on the key role they have to play in helping their organisations identify and exploit the opportunities an economic downturn brings," said David Thorp, director of research and information at The Chartered Institute of Marketing.

"By creating real value for their organisations and measuring the effectiveness of their marketing activities, marketers can demonstrate clearly how indispensable they are to their organisation."