According to the August 2010 CMO Survey, conducted by the Fuqua School of Business at Duke University and the American Marketing Association, Marketing executives are more optimistic about their own company’s revenue prospects than they are about the state of the overall U.S. economy.
This optimism is being translated into spending, with companies planning to increase their marketing budgets by an average of 9.2% over the next year, compared to a 1.1% percent forecast a year ago.
Spending on Internet marketing is expected to be up an average of 13.6% over the next year, spending on brand building is projected to increase by 8.3% and spending on new services is expected to rise 7.2%. All of those projections are higher than those made in the study last year. The survey also found that social media spending will grow from 9.9% of total marketing budgets to 17.7% in the next five years.
It’s encouraging to find marketers more positive about their companies’ futures, and good news for the industry.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment