CMO Survey: Optimism Down Overall But Social’s Star Continues to Rise
Twice a year we have the pleasure of sharing the results of The CMO Survey which is directed by Prof. Christine Moorman of Duke University’s Fuqua School of Business. The results come out in February and August each year and are always full of useful data to see what’s on the minds of C-level marketers.
From an overall economic position, the CMO’s surveyed are displaying a pattern of starting the year strong then readjusting their stance as the year wears on. This chart shows that pattern a bit over the past two years.
This somewhat pessimistic view of growth overall is impacting just how much marketing budgets are increasing. Of course, the good news is that they are increasing still albeit at a lower rate.
The increases however are not coming across the board. Traditional ad spend continues to contract as it did in February’s survey as well. Companies are moving away from some offline options.
This is likely to continue especially if the next trend / forecast is accurate. It’s about spending on social media. If this is correct it looks like the social movement is gaining more momentum with those who are in control of the marketing budget pursestrings.
As the survey does twice a year every year it delivers a lot of information that marketers can use to take the temperature of the C-suite marketers. I highly recommend you at least glance through the entire report to learn more about the environment and even glean what can be expected as we move toward 2013.