Warc, 19 August 2014
SAN JOSE, CA: A majority of senior global marketers are
confident they can drive growth and improve market share, according to a new
study which also shows widespread optimism regarding staff levels and budgets.
The CMO Council surveyed 525 global marketers for its State
of Marketing report and found that a "surprising" 81% believed their
targets for top-line revenue growth and market share in 2014 were realistic and
attainable.
Having said that, however, only one quarter (26%) were
halfway to achieving those goals.
Twice as many top marketers expected to increase budgets and
headcounts as expected them to remain the same or reduce. Some 55% planned to
increase recruitment, for example, while just 22% were contemplating
reductions.
And a similar proportion (54%) anticipated budget increases,
compared to 27% who thought they would remain unchanged. But whatever the
outcome, many felt it still wasn't enough – 41% reported feeling challenged by
insufficient budgets.
Marketing Week highlighted a significant change in the
allocation of spending, as just over half (52%) planned either no change or a
decrease to their mobile marketing budgets.
Liz Miller, senior vice president at the CMO Council,
suggested that an "excited spending spree" was giving way to a more
sober period of reassessment.
"Everyone raced out to try and develop their own app
before realising that mobile's power is in the mobile web, banners and
search," she said. "Now they are trying to figure out their strategy
again."
"This is a positive thing," she added.
"Marketers are redefining what they mean by mobile."
Another area where senior marketers are reassessing their
options is their agencies. Despite the fact that 63% rated the contributions of
their agency partners as extremely valuable or pretty good, 66% were planning
to make one or more changes to their agency roster in 2014.
Lack of business results, value-added thinking and
uninspired creative topped the list of reasons for these changes.
Data sourced from CMO Council, Marketing Week; additional
content by Warc staff
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