In a new CMO Survey by Duke University and Marketing Association of America, Marketers were asked about their spending plans in the next 12 months.
Here’s the PowerPoint summary:
Here are some key highlights:
Biggest change in spending will be in new service introductions, which echoes what our Future of Work experts have discussed. New services — whether they are focused on enhancing a physical product or service – will be a a major area of focus. Spending in this area is expected to increase 52%.
- Social Media spending as a percentage of the overall marketing budget is expected to increase from 7% to 12% in the next twelve months (Word of caution: It’s always good to figure out what’s really making up that 12%)
- 20-40% of marketers surveyed don’t believe that social media is really integrated into companies’ overall marketing plan or budget. Some of the causes of this include:
- Many companies split up Corporate Communications and Marketing, and sometimes the two groups don’t always work together. This is especially true when social media marketing is driven in a business unit or product group that often is not integrated with central marketing or corporate communications overall plan
- There still digital cowboys out there who tend do implement their own programs. Sometimes this is the result of them being the only early adopters of social media technology, sometimes it is the result of just ‘cowboy behavior. (Social Media training is one way to get everyone on the same page)
- Here you can see how marketing is spread out across an organization
- Another trend we have discussed here is that companies are not integrating customer information very well into their overall marketing efforts
I just highlighted a small sample of all the great data from the Duke University survey. Check out and read more.