In the State of Marketing 2012 study, CMO attitudes about the future are largely positive. These execs see themselves playing an expanded role in the C‑suite as the era of Big Data allows them to point to results of their investment in digital campaigns. They also believe that while a digital makeover is in order, traditional media remains an important part of the mix.
The CMO study focuses on larger enterprises with 60% having external spending programs of over $1 million. At least half of these businesses are seeing increased marketing budgets this year with a significant minority, 40%, spending up to 2% more than last year. The top beneficiaries of increased ad spending are online advertising and trade shows and conferences with 10% and 9% of marketers, respectively, spending more in these areas. However, print advertising isn’t far behind with 8% saying they’re spending more on this format. Overall, these businesses plan to spend 27% of marketing budgets on digital (including social and mobile) and 23% on traditional formats such as TV, radio and print. The study also revealed that print newspaper will suffer the deepest cuts but print magazines can expect more stability in 2013.
While there may be disagreement about the extent of digital’s encroachment on the traditional media budget, the typical marketer will be spending more on marketing automation over the next year:
- Email marketing 41%
- Website performance optimization 34%
- Mobile applications 33%
In addition, digital has sprawled over multiple silos in many organizations. There might be one department handling the website while another takes care of social media and still another is developing the mobile presence. To unify their online presence and message, more marketers will focus on how digital is working in their organization. About half plan a makeover that will involve platforms, programs and people. At least 39% will improve their marketing performance measurement dashboards.
CMOs overall feel upbeat about their prospects in 2013 and are proclaiming it will become the year of the marketer.[Source: State of Marketing 2012. CMO Council. 2012. Web. 4 Dec. 2012]