By on July 7, 2009

Of CMOs Cutting Ad Budgets: 67% Reduce Traditional, 47% Increase Social Media Spend

5



A new Forrester report (Marketing Budgets Suffer Significant Cuts) suggests 71% of CMOs have seen their marketing budgets reduced–of those, 51% saw a reduction of at least 20%!

It’s enough to send any marketer running for the hills, but really it’s only those knee-deep in old school channels that need to worry. As the chart below indicates, online advertising, email marketing, and social media are the least hit, with TV, print and radio seeing a whopping 67% decrease!

Scratching below the surface, we see even more good news for new media marketers. While 7% of CMOs plan to spend less on social media, 47% plan on increasing their spend in this area! The same goes for web site development, online advertising, and email marketing–all seeing more budget increases than decreases.

Regardless of where the money is being spent, marketers are feeling more pressure than ever to deliver results.

Of those who responded, 51% said marketing has a key role in enhancing revenue while 41% agreed that marketing’s efforts are being watched at all levels of the company.

Yep, that sounds like the daily grind for us marketers. You reduce our budgets but expect us to do more with what little you give us! ;-)

Want all the data? You can buy a copy of the report here.


Similar Stories in: Display, Research | Forward: Email This Post

Similar posts you may like...

5 comments on “Of CMOs Cutting Ad Budgets: 67% Reduce Traditional, 47% Increase Social Media Spend”

  1. April Says:

    July 7th, 2009 at 12:37 pm

    More troubling in these statistics is the drop in marketing headcount.
    I’d be interested to see if CMO’s think that managing social media takes less headcount than traditional media or are they simply looking to consultants to run social media initiatives (a recipe for failure in my opinion)?
    A

    April’s last blog post..VC Pitch Template

  2. jlbraaten Says:

    July 7th, 2009 at 2:34 pm

    This great news for Internet marketers everywhere. Now, if there was only a sure-fire way to open the offline community’s eyes to the world of online….

    jlbraaten’s last blog post..New Website ROI Tips: Online Goal Setting

  3. Dean Says:

    July 7th, 2009 at 3:18 pm

    Considering that most companies have probably spent close to nothing on Social Media I would take the “47% plan on increasing their spend in this area!” with a grain of salt.

  4. Forrester: 71% of CMO Budgets Falter, Social Media on the Rise « Real-Time: Sales Leads, Advertising, Research Says:

    July 15th, 2009 at 1:57 pm

    [...] channels have seen the most significant cuts, writes Marketing Pilgrim. Of CMOs who have had their budgets cut, 61% have reduced spending on TV, radio, [...]

  5. George Says:

    July 24th, 2009 at 12:49 pm

    Wondering how the survey has missed out on mobile advertising.. This area of marketing is steadily increasing and one of the most targetted veapons of modern day marketeers!

    And the ad spend is increasing day by day in this channel.

    George’s last blog post..Benefits of Sending Bulk SMS