- Kenneth Hein

NEW YORK When it comes to the current economy, chief marketing officers are starting to feel a lot more optimistic. They expect an increase in customer activity over the next year and plan to shift more dollars toward Internet marketing, per a study released this week by Duke University's Fuqua School of Business in conjunction with the American Marketing Association.

The study, which surveyed 511 top marketing executives of U.S. companies during the last two weeks of July, found that 59 percent of marketers are more optimistic about the economy than they were in Q2. Forty-seven percent said they're more optimistic about generating revenue from customers, and 39 percent are more optimistic about revenue from channel partners.

Additionally, CMOs are anticipating accelerated customer activity over the next year, with 48 percent citing an increase in purchase volume, 44 percent expecting customers to buy more products and services, and 35 percent predicting an increase in new customers.

When it comes to their areas of focus over the next five years, marketers expect to more than triple spending on social-media efforts. Marketing budget allocations for social networking, video/photo sharing and blogging will all rise. Respondents said social media plays a key role in brand building, customer acquisition, product introductions, customer retention and market research.

Meanwhile, spending on traditional advertising is expected to decrease 8 percent.

When asked to identify companies that have "exceptional marketing capabilities" across all business sectors, CMOs most frequently cited Apple and Procter & Gamble.

Overall, the study's outlook is positive, particularly when it comes to turnover in CMO positions this year. Top marketers reported holding their positions for an average of 4.3 years, which is unchanged from February.


Nielsen Business Media