CMO Marketing Outlook: Increased Budgets, Increased Emphasis on Digital

 

Improving economic conditions are reflected in 2010 marketing budget projections from the just-released CMO (Chief Marketing Officer) Council’s annual Marketing Outlook study,  and once again plans for online marketing are on the rise.

The planned marketing mix reported by these marketers points to another tough year for print and another growth year for social media, SEO and web portals.

Overall, nearly half of the marketers surveyed anticipate an increased marketing budget. On the digital side, 11% of respondents plan to allocate more than 30% of their marketing budget to digital channels and programs, another 37% will spend 10 – 30%. Here’s where all of those digital marketing dollars will go:

• 65% of respondents are looking at investments in new social media and online communities
• 44% in Internet media channels
• 33% in mobile messaging
• 31% in new methods of online content delivery

Interestingly, many corporate marketers plan to improve their internal digital marketing departments and to bring in digital media talent. The CMO Council thinks this means traditional ad agencies will get less budget and less influence as marketers take more of the digital functions in-house.

Source: 2010 “State of Marketing” report, www.cmocouncil.org.