CMO Council's Marketing Outlook Reveals Budgets Holding Up
The majority of marketers are sticking to old online measures like page views and registrations (64.6 percent), site traffic and volume (58.4 percent) and search prominence (45.2). However, a growing number are measured customer engagements including translating online traction to the acquisition of new accounts and customers, tracking content consumption transactions or subscriptions and measuring word-of-mouth advocacy.
• Digital marketing and new media dominates demand generation and advertising spend allocation priorities for the coming year, with budgets aimed at online and Web 2.0 initiatives almost 50 percent higher than spend earmarked for traditional media.
• Just 9.3 percent of marketers rate their e-metrics and measurement capabilities as excellent. 35.6 percent of marketers are questioning spend, struggling to quantify value or are simply not doing a good job of converting visitors to leads or to customers.
“The positive news is that marketers will be investing in connecting with key influencers through social communities, even as 32 percent are struggling to gain a full understanding of these new solutions,” said Kevin Akeroyd, Chief Operating Officer of Jigsaw. “However, considering that 45 percent of marketers are also saying that their key goal is to reach out to advance customer insight, their intended increased investment – some allocating an increase of 5 percent over 2008 – in social media will be an exciting step into new customer engagements.”
Overall the picture looks positive for marketing in 2009, yet the broad outlook for the role of the CMO continues to be clouded by performance and bottom line driving issues and a general lack of validation by the C-Suite continuum.
The Marketing Outlook report is available for download through the CMO Council (www.cmocouncil.org) including a complimentary executive summary along with a comprehensive findings report ($99), an expanded findings report that highlights key markers by size, type and region of company ($199) and a Marketing Trend report that highlights a 3-year historical background of marketing outlook and intentions data ($299).