State of Marketing 2014 Report: Social Media and Video Ads up, Mobile down, Programmatic low at 1%
Compared to some previous study, this years CMO Council’s „State of Marketing“ (sponsored by NetBase and Infor) shows that confidence to be a trusted source for the C-level is back with marketers. The online study that asked 525 global marketers in the first quarter 2014 shows that 69% of senior marketers see themselves as a trusted, strategic member of the C-suite and/or are increasing their credibility with the main business decision makers inside their companies. Furthermore, 81% of senior marketers responded that they’re confident to meet management expectations and goals for top-line revenue growth and market share in the next 12 months.
„The level of confidence and optimism is very high. We are seeing the CMO role being elevated to a much larger degree.“ Donovan Neale-May, Executive Director, CMO Council
From a budget perspective, the main areas of marketing spending growth for this year will be social advertising (71%), online video (71%), social engagement campaigns (69%), retargeting (67%) and search engine marketing (66%). However, mobile will go down in the attention of marketing spendings this year. Only 62% said they plan to increases and just 25% project increases of over 5% for 2014. 45% said they expect no change for mobile banners. The report makes no commments on reasons for this stagnating mobile budget growth. In general, 54% of marketers plan to increase their marketing budgets over the next 12 months, 27% will keep budgets stable. The most funding will go into new products and program launches (54%), corporate branding and identity building (53%), lead generation and qualification (50%), and customer retention and monetization (44%).
When asked to identify where marketers will allocate marketing budget across
From an operational and process point of view 12% of the responding marketers said they will invest in product marketing, 12% said in strategy and branding, almost 7% in marketing and planning, 7% in sales and lead management, and 5% in market research, among other areas. It seems that programmatic buying has still not reached the marketing department. Only 1% sees programmatic advertising technology systems an interesting topic to invest in. Maybe they just do not have the right arguments for their C-Suite on programmatic yet.
The senior management expects from their CMOs over the next 12 months to drive top-line growth (56%), grow or retain market share (52%), better define the brand and value proposition (44%), and further customer insights and analytics (37%). As the leading areas of responsibility the marketers see for themselves strategic planning and forecasting (74%), branding (71%), digital (68%), budgeting and mix modeling (68%) and market research (67%). from a C-level perspective the marketers state that their main tasks from the business leaders are driving top-line growth (56%); growing or retaining market share (52%); better defining the brand and value proposition (44%); and furthering customer insights and analytics (37%).
The challenge for marketers as of the cloud technology evolution is to connect with other departments inside the company. Interesting to see from the report to which people marketers are reaching out these days for partnerships. The marketers responded that the CFO (58%), CIO (53%) and chief sales officer (51%) are their main three touchpoints inside the organization to form partnerships with.
The report also states that 55% of marketers want to hire in 2014. Their main focus of reecruiting people or getting knowledge will be on customer analytics (40%), social media (36%) and content development (27%). Interestingly enough, a trend that we also experience with our clients is that B2B marketers (60%) are very active finding new staff. Their main interest is in people on topics like customer analytics (33%), product marketing support (33%), content development (32%) and social media (32%).