Marketing executives plan to increase spending across all forms of marketing despite economic concerns, finds biannual CMO Survey conducted in August 2011; CMOs at 249 companies expect 9.1% increase marketing budgets
September 6, 2011
– According to a biannual CMO Survey conducted in August 2011, marketing executives plan to increase spending across all forms of marketing, Printinthemix.com reported Sept. 6, 2012.
Chief Marketing Officers at 249 of the U.S. who participated in the survey said that they expected to see 9.1% increase marketing budgets. They expected that the budget for Internet see an 11.2% increase, while traditional advertising would see a 1.3% increase.
Over the next year, marketers planned to increase the percentage of the overall marketing budget directed to social media from 7.1%—its current level—to 10.1%.
Over the next five years, marketers expected that the percentage of the overall marketing budget directed to social media would increase to 17.5%.
Across the difference sectors, there were differences in the expected increase to the marketing budget.
Business-to-consumer product marketing had the greatest expected increase, with its percentage of the overall marketing budget expected to rise from its current level of 10.5% to 24% over the next five years.
When asked to rate their optimism concerning the U.S. recovery on a scale of 1-100, with 100 being the most optimists, marketing executives reported an average optimism level of 52.2, the lowest score in 2 years.
In February 2009, marketing executives who were asked the same question as part of the CMO survey reported an average optimism score of 47.6.
The primary source of this article is Printinthemix.com, Rochester, New York, on Sept. 6, 2011.