CMO Survey Finds Marketers More Optimistic About Revenue Prospects
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Firms continue to emphasize social media, which is forecasted to grow from 6% to 18% of marketing budgets within five years. B2C companies are making the most significant investments in social media, while service companies plan to scale back growth in social media spending.
"Consumer goods companies like Unilever and Procter & Gamble have been very effective at connecting with customers through social media," Moorman said. "However, these results indicate that social media may be more difficult to apply in the service sector environment, where there isn't a tangible product for customers to relate to."
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