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Highlights and Insights
                    August 2012




www.cmosurvey.org                 © Christine Moorman
About The CMO Survey

         Mission
             - The CMO Survey collects and disseminates the opinions of top marketers in order to
               predict the future of markets, track marketing excellence, and improve the value of
               marketing in firms and society.

         Survey Operation
             - Founded in August 2008, The CMO Survey is administered twice a year via an Internet
               survey. Questions repeat to observe trends. Special topics are introduced for each survey.
             - The August 2012 survey was the ninth administration of The CMO Survey.

         Sponsoring Organizations

         Founder and Director
             - Professor Christine Moorman, T. Austin Finch, Sr. Professor of Business Administration,
               Fuqua School of Business, Duke University

© Christine Moorman                                                                                         2
Survey Methodology

         Survey Sample
             - 4674 Top U.S. Marketers at Fortune 1000, Forbes Top 200, and Top Marketers who
               are AMA Members or Duke University Alumni and Friends
             - 531 responded for a 11.3% response rate

         Survey Administration
             - Email contact with three follow-up reminders
             - Survey in field from July 17-August 3, 2012
             - 86% of respondents VP-level or above

         Results Interpretation
             - M = sample mean; SD = sample standard deviation
             - B2B = Business-to-Business firms; B2C = Business-to-Consumer firms


© Christine Moorman                                                                             3
Overview of Results

      Topic 1: Marketplace Dynamics                  5-12

      Topic 2: Firm Growth Strategies                13-19

      Topic 3: Marketing Spending                    20-26

      Topic 4: Financial and Marketing Performance   27-32

      Topic 5: Marketing and Social Media            33-38

      Topic 6: Marketing Jobs                        39-41

      Topic 7: Marketing Organization                42-44

      Topic 8: Marketing Leadership                  45-49

      Topic 9: Marketing Analytics                   50-54

      Preview of Next Survey                          55

© Christine Moorman                                          4
Topic 1:
Marketplace Dynamics




                       55
Marketer optimism for U.S. economy slumps
again; B2B sectors show greatest pessimism
  Marketplace          Growth             Spending            Performance           Social Media      Jobs          Organization           Leadership            Analytics


 Figure 1.1. How optimistic are you about the overall U.S.                               Figure 1.2. Optimism for U.S. economy by sector
 economy on a 0-100 scale with 0 being the least optimistic                                        B2B-Product      B2B-Service            B2C-Product          B2C-Service
 and 100 the most optimistic?                                                                                                     64.1
                                                                                            65

                        Marketer Optimism about Overall Economy                                                           63.5                                  62.3
100.00                                                                                                                                   62.1
                                                                                                                                                                       60.8
                                                                                            60
 90.00
                                                                                                                           58.3

 80.00
                                                                                                     54.5                                                              55.4
                                                                                            55
 70.00
                                                                       63.4                        53.3      53.1
                                                  63.30
                                                                                58.40                                                                    51.9
 60.00                        57.78
                    56.45               55.60
                                                            52.20                           50

 50.00    47.69
                                                                                                             48


 40.00
         February   August   February   August   February   August   February   August      45
           2009      2009      2010      2010      2011      2011      2012      2012               August 2011            February 2012                 August 2012


© Christine Moorman                                                                                                                                                           6
Uncertainty abounds:
Optimists decrease and Pessimists increase
  Marketplace         Growth            Spending             Performance              Social Media        Jobs            Organization         Leadership      Analytics

                  Figure 1.3. Are you more or less optimistic about the overall U.S. economy compared to last quarter?
                                                              Less Optimistic             No Change          More Optimistic
                       80.0


                                                                                                           68.8
                       70.0
                                                                        62.1                                                                   63.3
                                                    59.0
                       60.0
                                                                                                                                      57.4

                       50.0             50.7


          % of                                                                             38.9
                   40.0
       Respondents                                                                                                                                           35.2
                                 32.0                                                                                                                               35.8
                                                                        28.9              35.2                                 27.7            28.3
                       30.0                         26.0                                                   25.5
                                                                                                  26.0                                                         29

                       20.0      17.3
                                                                                                                               14.9
                                                           15.0
                       10.0                                                     9.0                                                                   8.5
                                                                                                                  5.7

                        0.0
                               February            August             February            August         February          August            February       August
                                 2009               2009                2010               2010            2011             2011               2012          2012
© Christine Moorman                                                                                                                                                        7
Marketer optimism for own companies
  exceeds expectations for overall economy
  Marketplace         Growth     Spending       Performance               Social Media         Jobs            Organization        Leadership       Analytics



       Figure 1.4. How optimistic are you on a 0-100 scale with 0 being the least optimistic and 100 the most optimistic?
                                               Overall Economy                Own Company Revenue Growth
      100.00



       90.00



       80.00
                                                                                     73.20                                72.8
                                                                                                                                            69.6
       70.00                                                     66.70                                67.80
                                             66.44

                               59.64
       60.00                                                                         63.30                                63.4
                  52.92                                                                                                                     58.4
                                             57.78
                               56.45                             55.60
       50.00                                                                                          52.20
                  47.69
       40.00
                 February      August       February             August             February          August            February           August
                   2009         2009          2010                2010                2011             2011               2012              2012


© Christine Moorman                                                                                                                                         8
Customer metrics forecast bleak:
   Marketers expect decreases in purchase volume, likelihood of buying
   related offerings, retention, acquisition, and price paid
  Marketplace         Growth          Spending      Performance         Social Media               Jobs                 Organization       Leadership             Analytics


       Figure 1.5. Forecasted customer outcomes in next 12 months
                  80
                                                      74
                                                                                                                                 Increased customer purchase volume

                  70
                               66                                                                                                Increased customer price per unit
                                                                                       64
                                           62
                                                                                            62.1                                 Customer will buy more related products and
                  60                                                                                                             services from my firm
                                                           59      56                                     56.1
                               54
                                                      53                           52.8                                          My firm's ability to retain current customers has
                                          52                       52
                                                                                                                 52.9            increased
         % of
                  50           47                                                                                                Increased entry of new customers into the market
      Respondents                                                                                         45.4
                                               50                                  49.8
                                                      49

                               45                                 41
                  40                       43                                      37.4                   43
                                                                   39
                                                      31                                                  30.4
                                                                        33
                  30
                               26
                                           25


                  20
                           February      August     February      August         February             August
                             2010         2010        2011         2011            2012                2012

© Christine Moorman                                                                                                                                                         9
Customer priorities shift toward low price
  Marketplace         Growth             Spending    Performance        Social Media   Jobs       Organization          Leadership           Analytics



         Figure 1.6. Customers’ top priority in next 12 months
        30.0%

                                                                     26.3%
                                                                                                  24.7%
        25.0%                     24.1%

                                                                                                       23.2%
                                 24.1%                                 21.4%
                                                                                                                                Low Price          Quality
        20.0%
                          19.3%                                        18.9%                           18.8%
                                                                                                                                Innovation         Service
                                                                                                       17.3%
                                                                         16.4%
        15.0%                                                                                                                   Trust              Brand
                               13.7%     13.7%

                                                                       10.0%
        10.0%
                                                                                                       9.4%
                                       6.8%
                                                                                                       6.8%
                                                                       7.5%
          5.0%
                       August                 2011        February             2012      August                  2012




© Christine Moorman                                                                                                                                 10
Channel partner metrics to soften
  in next 12 months
  Marketplace         Growth               Spending      Performance               Social Media        Jobs             Organization        Leadership            Analytics



          Figure 1.7. Channel metrics in next 12 months
                     Increased partner purchase volume    Increased partner price per unit        Increased partner purchase of related products and services from my firm
                50
                                                                              47
                45
                                                                                                                   42
                40
                                                                                                                                                           38.6
                                      36
                35
                                                                              33
                                                                                                              30
                30                                                                                                                                         30.4
                                                                                                                30
  Percentage of
                25
  Respondents                               24
                                                                                                                                                           21.4
                20                                                       18

                                       14
                15

                10

                 5

                 0
                                    August                             August                                 August                                 August
                                     2009                               2010                                   2011                                   2012

© Christine Moorman                                                                                                                                                          11
Competitor metrics show increased intensity:
  More competitors, more rivalry, more innovation
  Marketplace         Growth            Spending          Performance         Social Media         Jobs              Organization         Leadership   Analytics



                      Figure 1.8. Competitor metrics in next 12 months
                      6
                                                                                                            Exception is increased willingness to
                  5.5                                                                                       cooperate on non-price strategies
                                                                                  5.4
                                       5.3

                      5
                                                                                  4.9
                                       4.8                                                                More intense rivalry for customers
                                                                                  4.7
                  4.5
                                                   4.5                                                    More competitor price-cutting

                      4
                                                                                  3.8                     More competitor innovation
                                             3.5
                  3.5                                                                                     More cooperation on non-price
                                                                            3.5                           strategies
                                             3.4
                                                                                                          Emergence of new domestic
                      3                                                                                   competitors


                  2.5


                      2
                                         August                           August
                                          2011                             2012

                          *Measured on 7-point scale where 1=not at all likely and 7=very likely
© Christine Moorman                                                                                                                                           12
Topic 2:
Firm Growth Strategies




                         13
                          13
Growth strategies expected to take on
 more risk in next year
  Marketplace         Growth         Spending             Performance   Social Media          Jobs       Organization     Leadership        Analytics



       Types of Growth Strategies                                       Table 2.1. How growth spending is expected to change*
                            Existing               New                                                 Actual        Expected
                           Products/             Products/                                                                              Percent
                                                                                                     Spending in    Spending in
                           Services              Services                         Strategy                                              Change
                                                                                                       Past 12        Next 12
                                                                                                                                       Expected
                                                                                                       Months         Months
                             Market         Product/Service
          Existing                                                                Market
                           Penetration       Development
          Markets                                                               Penetration            51.7%            45.7%          -11.6%
                            Strategy           Strategy
                                                                                 Strategy
                                                                                  Market
                                                                               Development             15.7%            18.1%          +15.3%
                             Market                                              Strategy
           New                                  Diversification
          Markets         Development
                                                   Strategy
                            Strategy                                          Product/Service
                                                                               Development             22.8%            25.0%          +9.6%
                                                                                 Strategy

                                                                               Diversification
                                                                                                       9.7%             11.2%          +15.5%
                                                                                  Strategy

                                                                        * % of spending across growth strategies




© Christine Moorman                                                                                                                                14
Growth strategies vary by sector
  Marketplace         Growth      Spending         Performance     Social Media   Jobs       Organization   Leadership   Analytics


    Table 2.2. Expected changes in sector growth spending                          Notable shifts
               in next 12 months relative to prior year
                                                                                   • B2C-Service companies take on most risk
                                 B2B          B2B          B2C        B2C
                               Product       Service     Product     Service       • B2C-Service companies largest focus on new
                                                                                     markets
        Market Penetration
            Strategy           -5.6%         -5.9%        -6.3%      -7.8%         • B2B-Service companies largest focus on new
                                                                                     products/services and diversification

             Market
      Development Strategy     +3.4%         -0.7%       +1.7%      +5.8%

        Product/Service
      Development Strategy     +1.2%         +4.2%       +2.8%        +1%

           Diversification
              Strategy          +1%          +2.2%       +1.7%        +1%




© Christine Moorman                                                                                                             15
Growth from acquisitions & licensing expected
  to increase; sector differences significant
  Marketplace          Growth       Spending             Performance   Social Media             Jobs           Organization    Leadership             Analytics



    Table 2.3. How firms will grow in the next 12 months*                     Table 2.4. Sector use of growth strategies – August 2012*

                                                                                                         B2B        B2B-       B2C-          B2C-
                Strategy        Aug-10         Aug-11         Aug-12              Strategy
                                                                                                       Product     Service    Product       Service
                Organic                                                               Organic
                Growth          69.5%          70.2%           68.9%                                   66.2%       67.6%      76.9%         72.2%
                                                                                      Growth
          Growth from                                                            Growth via
          Acquisitions          10.8%          11.4%           12.2%                                   14.9%       12.3%       7.8%         10.4%
                                                                                 Acquisition
          Growth from                                                           Growth from
          Partnerships          13.9%          13.5%           12.9%                                   12.0%       14.8%       9.6%         12.5%
                                                                                Partnerships
          Growth from                                                           Growth from
           Licensing            5.8%           5.1%            6.1%                                     6.9%        5.3%       5.7%          4.9%
                                                                                 Licensing

     * Percentage of spending across growth strategies




© Christine Moorman                                                                                                                                          16
Canada and China leading international
  growth markets
  Marketplace          Growth           Spending     Performance      Social Media   Jobs          Organization   Leadership    Analytics


     Figure 2.1.       Highest international revenue growth markets                  Table 2.5. Change in highest revenue growth
                       (% respondents)                                                          markets
                                                                                                                  Feb-12       Aug-12
                                                                                            Western Europe         23%         16.3%
                                             Other
                                             20.6%                                              Other              20%         20.6%
                                                                                               Canada              16%         24.2%
                       Western Europe                        Canada                             China              15%         21.5%
                           16.3%                              24.2%
       Russia
                                                                                                Brazil              7%          4.6%
        0.6%                                                                                 Middle East            7%          4.0%
     Korea
      0.6%                                                                                      India               3%          1.8%
          Japan
           1.8%                                                                                Mexico               3%          2.1%
Eastern Europe
     1.8%                                            China
                                                     21.5%                                  Eastern Europe          2%          1.8%
          Mexico
            2.1%     India          Brazil                                                      Japan               2%          1.8%
                     1.8%           4.6%
                Middle East                                                                     Korea               1%          0.6%
                   4.0%
                                                                                                Russia              1%          0.6%

© Christine Moorman                                                                                                                    17
China revenue growth by sector:
  B2C companies sales increase by over 100%
  Marketplace         Growth   Spending      Performance       Social Media     Jobs     Organization   Leadership   Analytics


     Table 2.6. Sector differences in Chinese market (% respondents)

                                    Feb-12                 Aug-12             % Change

            B2B-Product              24.7%                 26.3%                6.5%


            B2B-Service              10.5%                 14.6%               39.0%


            B2C-Product              10.3%                 21.2%               105.8%


            B2C-Service              6.3%                  12.9%               104.8%




© Christine Moorman                                                                                                         18
Top international markets continue to grow
(up 20%+ in the last year)
Marketplace          Growth     Spending             Performance     Social Media      Jobs      Organization         Leadership   Analytics



    Average increase across all top international markets: 23.7%


    Figure 2.2. Average percent increase in sales revenue from top international market in prior 12 months

 80%                                                                            75.0

 70%

 60%
                               51.5
              49.7
 50%

                                                                                                 38.4
 40%

                                                                                                                                   29.0
 30%                                                      26.2
                                                                                                                            20.0
 20%                                                               16.3
                                             13.4                                       12.5
                        10.7                                                                                    9.4
 10%

  0%
          Brazil      Canada   China       Eastern       India     Japan      Korea    Mexico   Middle     Other          Russia Western
                                           Europe                                                East      Market                Europe
Topic 3:
Marketing Spending




                     20
                      20
Growth in marketing budgets drops:
  Consumer industries show positive growth; B2B flat or down

  Marketplace          Growth              Spending              Performance              Social Media    Jobs       Organization       Leadership        Analytics



  Figure 3.1. Percent change in marketing budgets in next 12 months                                      Table 3.1. Sector differences in marketing budgets
                                    Change in Marketing Spending                                                                    Change in Marketing
   25.0%                                                                                                                                Spending

                                                                                                                                    Feb-12           Aug-12
   20.0%
                                                                                                           B2B Product              13.2%            5.7%

                                                                                                            B2B-Service             6.2%             6.2%
   15.0%
                                                                                                           B2C-Product              3.3%             8.6%
                                             9.2%                   9.1%                                    B2C-Service             4.6%             6.8%
   10.0%                                                                        8.1%
                                                       6.7%                                 6.4%
                                 5.9%

    5.0%

                       1.1%
                0.5%
    0.0%
           February    August   February     August   February     August      February     August
             2009       2009      2010        2010      2011        2011         2012        2012



© Christine Moorman                                                                                                                                              21
Marketing spending on traditional advertising
  expected to plummet (-137%)
  Marketplace         Growth            Spending           Performance   Social Media   Jobs       Organization   Leadership    Analytics


        Table 3.2. Percent change in marketing spending in next 12 months
                                                                                                                     % Change,
                                                              Aug-11           Feb-12          Aug-12
                                                                                                                  Feb-12 to Aug-12
          Traditional advertising* spending                    1.3%             -0.8%          -1.9%                  -137.5%

          Internet marketing spending                         11.2%            12.8%           11.5%                   -10.2%

          New product introductions                           10.4%             8.5%           9.4%                    +10.6%

          New service introductions                            6.6%             4.2%           6.4%                    +52.4%

          Customer relationship
                                                               6.5%             7.1%           9.0%                    +26.8%
          management

          Brand building                                       5.7%             7.2%           7.5%                    +4.2%

         *Refers to media advertising not using the web.




© Christine Moorman                                                                                                                    22
Investments in building marketing
  knowledge expected to remain strong
  Marketplace         Growth       Spending   Performance       Social Media       Jobs    Organization   Leadership   Analytics


    Table 3.3. Changes in firm spending on marketing knowledge in next 12 months


                                                            Feb-12             Aug-12     % Change

                      Marketing research
                       and intelligence
                                                            6.2%               8.2%        +32.3%

                   Marketing consulting
                         services
                                                            1.7%               3.3%        +94.1%

                Developing knowledge about
                   how to do marketing
                                                            4.6%               5.8%        +26.1%

                    Integrating what we
                   know about marketing
                                                            6.6%               8.2%        +24.2%

                           Marketing
                            training
                                                            3.7%               7.2%        +94.6%




© Christine Moorman                                                                                                           23
Marketing budgets increase as percentage
   of firm budgets
  Marketplace         Growth              Spending         Performance   Social Media    Jobs     Organization   Leadership   Analytics



                Figure 3.2. Marketing budgets as a percent of firm budgets*
           16.0%


           14.0%


           12.0%                                                                                11.4%
                                                                                10.4%
                                                           10.0%
           10.0%

                               8.1%
            8.0%


            6.0%


            4.0%


            2.0%
                               February                    August             February          August
                                 2011                       2011                2012             2012


           *Question asked in Feb-11 for the first time.

© Christine Moorman                                                                                                                  24
Size of marketing budget varies by
   company sector, sales, and internet sales
  Marketplace          Growth    Spending         Performance       Social Media   Jobs       Organization   Leadership       Analytics

      Table 3.4. Marketing percentage of firm budget by economic sector
                                    B2B              B2B              B2C            B2C
                                  Product          Services         Product        Services
                 August 2011       7.0%             11.1%            11.6%          12.1%
                February 2012      8.7%              8.2%            16.1%          16.8%
                 August 2012       8.5%             11.6%            17.4%          10.7%

      Table 3.5. Marketing percentage of firm budget by company sales revenue
                                   <$25              $26-99          $100-499      $500-999        $1-9.9            >$10
                                   Million           Million          Million       Million        Billion          Billion
                August 2011         11.3%             14.6%             10%         7.8%            3.1%             6.6%
                February 2012      10.7%              12.3%            13.5%        4.7%            6.7%             8.8%
                August 2012         11.9%             10.2%            9.5%         7.7%            9.7%            18.1%


      Table 3.6. Marketing percentage of firm budget by company internet sales
                                      0%             1-10%             >10%
                                Internet Sales   Internet Sales   Internet Sales
                 August 2011        8.7%             7.9%            16.8%
                February 2012       8.4%             9.5%            18.0%
                 August 2012       10.2%            10.2%            16.4%


© Christine Moorman                                                                                                                  25
Marketing spending as a percentage
   of firm revenues
  Marketplace         Growth           Spending         Performance       Social Media    Jobs      Organization   Leadership      Analytics

       • Mean percentage: 11.0% (August-2012) vs. 8.5% (February-2012)

       • 95 percent confidence interval: 9.3%-14.4%

       Table 3.7. Marketing spending as a percentage of firm revenues by economic sector*
                                          B2B             B2B               B2C            B2C
                                        Product         Services          Product        Services
             February 2012                7.3%             4.8%            13.8%          16.6%
              August 2012                11.4%            11.9%             9.8%          16.1%

       Table 3.8. Marketing spending as a percentage of firm revenues by company sales revenue*
                                         <$25              $26-99         $100-499       $500-999       $1-9.9            >$10
                                         Million           Million         Million        Million       Billion          Billion
             February 2012               11.8%              9.0%            14.7%         1.7%           2.8%             5.2%
                August 2012              17.8%             10.7%            10.6%         9.4%           6.1%            13.1%

       Table 3.9. Marketing spending as a percentage of firm revenues by company internet sales*
                                           0%             1-10%             >10%
                                     Internet Sales   Internet Sales   Internet Sales
             February 2012                6.3%            9.0%            14.4%
              August 2012                11.0%            9.3%            18.3%

      *Question asked in Feb-12 for the first time.
© Christine Moorman                                                                                                                       26
Topic 4:
Financial and Marketing
Performance




                          27
                           27
Company performance on financial
  metrics remains positive but weakens
  Marketplace         Growth       Spending        Performance           Social Media          Jobs            Organization        Leadership        Analytics


                                                                                                                                                 % Change
           Figure 4.1. Firm performance in prior 12 months                                                                                      Feb-2012 to
           5.0%                                                                                                                                  Aug-2012
                                                                        4.8%
                                                                                                                              Firm Sales          -16.7%
           4.5%
                                                                                                                          Firm Profits            -15.4%
                                    4.0%                                         4.0%
                                                                 3.9%
           4.0%
                                                3.8%                                                                     Marketing ROI            -8.6%

                                    3.4%        3.4%
           3.5%                                                                  3.3%
                                                                  3.5%                  3.2%
           3.0%
                                         2.7%      3.0%
           2.5%                                                                                       Firm sales
                      2.2%
                                                                                                      Firm profits
                  2.2%
           2.0%                                                                                       Marketing ROI

                            1.8%
           1.5%


           1.0%


           0.5%


           0.0%
                       August      February     August       February           August
                        2010         2010        2011          2012              2012

© Christine Moorman                                                                                                                                           28
Key customer and brand assets follow suit
  Marketplace         Growth            Spending      Performance       Social Media         Jobs            Organization      Leadership      Analytics


                                                                                                                                             % Change
    Figure 4.2. Change in company performance on customer and brand metrics                                                                 Feb-2012 to
                               Customer acquisition       Customer retention            Brand value
                                                                                                                                             Aug-2012
                                                                                                                             Customer
    4.5%                                                                                                                                      -13.2%
                                                                                                                            Acquisition
                                                                                4.1%
                                                                                                                             Customer
                                                                                                                                              -9.1%
    4.0%                                                                                                                     Retention
                                                           3.5%                                                               Brand
                                                                                3.8%                  3.4%                                    -17.1%
    3.5%
                  3.2%                                                                                                        Value
                                           2.9%                                                       3.3%
    3.0%                                                   3.2%

    2.5%                                                                         2.2%
                  2.6%                     2.6%
                                                                                                      2.0%
    2.0%
                                           1.6%           1.7%
                  1.4%
    1.5%


    1.0%


    0.5%


    0.0%
                 August                   August          August               February               August
                  2009                     2010            2011                 2012                   2012

© Christine Moorman                                                                                                                                    29
Company performance by sector
  Marketplace          Growth        Spending    Performance    Social Media    Jobs             Organization      Leadership   Analytics




           Table 4.1. Sector performance metrics for prior 12 months
                                                       B2B-           B2B-              B2C-               B2C-
                                                      Product        Services          Product            Services
                Firm sales                              3.8%           4.7%             3.6%                4.0%
                Marketing return on investment          3.0%           4.0%             1.8%                4.1%
                Firm profits                            3.2%           3.9%             2.5%                3.6%
                Customer acquisition                    3.5%           3.5%             2.6%                3.8%
                Customer retention                      2.1%           1.6%             2.0%                2.7%
                Brand value                             3.4%           3.8%             3.3%                3.1%




© Christine Moorman                                                                                                                    30
Firm performance goals remain strong
  Marketplace         Growth    Spending     Performance     Social Media     Jobs      Organization      Leadership    Analytics


        Table 4.2. Company performance and goals

                                           Actual firm performance            Goal in the              % Increase in goal
                                             in prior 12 months             next 12 months             over performance

         Firm sales                                   4.0%                       6.8%                         70%

         Marketing return on investment               4.6%                       5.4%                        17.4%

         Firm profits                                 3.3%                       6.0%                        81.8%

         Customer acquisition                         3.3%                       5.8%                        75.8%

         Customer retention                           2.0%                       4.8%                         140%

         Brand value                                  3.4%                       5.8%                        70.6%




© Christine Moorman                                                                                                            31
How would you rate your company's
   marketing excellence?
  Marketplace         Growth   Spending      Performance      Social Media   Jobs           Organization       Leadership           Analytics


          • Mean on 7-point scale: 4.4 (SD = 1.4%)                                                      New question
                                                                                                     in The CMO Survey
   Figure 4.3. Ratings of marketing excellence in companies
  35.0%

                                                                                    29.7%
  30.0%


  25.0%                                                           23.2%


  20.0%
                                                                                                       17.5%

                                               14.4%
  15.0%


  10.0%                        8.5%

                                                                                                                                4.8%
   5.0%
                  2.0%

   0.0%
                1=Very Weak    2=Weak           3=Fair            4=Good        5=Strong        6=A leader but not one 7=Excellent, one of the
                                                                                                      of the best        best in the world




© Christine Moorman                                                                                                                        32
Topic 5:
Marketing and Social Media




                             33
                              33
                              33
Social media spending growth continues:
  Expected to be 18.8% of marketing budgets in five years
  Marketplace                                                Growth   Spending         Performance       Social Media      Jobs   Organization      Leadership   Analytics



                                                    Figure 5.1. Social media spending as a percentage of marketing budgets over time
                                                           20.0%
                                                                                                                                           18.8%
                Percentage of Total Marketing Budget (%)




                                                           15.0%




                                                                                                                 10.7%
                                                           10.0%



                                                                              7.6%

                                                           5.0%




                                                           0.0%
                                                                      Current Levels                 Over Next 12 Months          In Next 5 Years


© Christine Moorman                                                                                                                                                     34
Social media spending across sectors
  Marketplace         Growth     Spending       Performance      Social Media   Jobs          Organization    Leadership   Analytics


       Table 5.1. Sector differences in change in social media spending
                                                         August 2011            February 2012                August 2012
                               B2B - Product                  4.2%                     6.2%                      5.0%
                               B2B - Services                 8.6%                     7.4%                      9.4%
         Current Social
             Media             B2C - Product                  10.5%                    9.6%                      9.0%
           Spending            B2C - Services                 5.9%                     8.4%                      9.0%
                                  Overall                     7.1%                     7.4%                      7.6%
                               B2B - Product                  7.0%                     9.4%                      8.4%
          Social Media
                               B2B - Services                 11.5%                10.1%                        12.7%
          Spending in
              the              B2C - Product                  13.6%                15.3%                        11.4%
            next 12            B2C - Services                 9.4%                 11.7%                        12.1%
            months
                                  Overall                     10.1%                10.8%                        10.7%
                               B2B - Product                  13.4%                18.5%                        15.3%
          Social Media         B2B - Services                 18.3%                19.1%                        20.0%
          Spending in          B2C - Product                  24.0%                23.0%                        24.4%
              the
          next 5 years         B2C - Services                 17.3%                19.0%                        19.3%
                                  Overall                     17.5%                19.5%                        18.8%

© Christine Moorman                                                                                                               35
Social media integration gap not closing
  Marketplace         Growth     Spending        Performance         Social Media            Jobs           Organization    Leadership       Analytics


   Question: How effectively is social media                               Figure 5.2. How social media is integrated with strategy
   integrated with your firm’s marketing strategy?
   7-point scale (1=not integrated, 7=very integrated)

   Results: Social media remains poorly integrated                   25%
                                                                                                                           22.2%
   with marketing strategy:
                                                                     20%
                                                                               16.7%
   • Aug, 2012: Mean = 3.8, SD = 1.9                                                                13.9%        13.9%
                                                                     15%                   13.3%                                     13.3%
   • Feb, 2012: Mean = 3.8, SD = 1.9                  Percent of
   • Feb, 2011: Mean = 3.8, SD = 2.0               Respondents (%)
                                                                     10%
                                                                                                                                               6.8%

                                                                     5%

   Table 5.2. Integration scores by sector                           0%
                                                                                  1         2        3             4        5            6        7
                                  Mean (SD)                                   Not at all                                                        Very
                                  Aug-2012                                   Integrated                                                      Integrated

        B2B-Product                3.0 (1.9)
        B2B-Services               4.1 (1.7)
        B2C-Product                4.3 (1.6)
        B2C-Services               4.3 (1.8)

© Christine Moorman                                                                                                                                   36
Poor integration of customer
  information across channels
  Marketplace         Growth   Spending       Performance     Social Media        Jobs   Organization         Leadership   Analytics



                                                                                                     New question
   Question:. How effectively does your company integrate customer
                                                                                                  in The CMO Survey
   information across the following channels (1=not at all, 7=very effectively)

   Results:

   • All purchasing channels (M = 3.9, SD = 1.6)
   • Across all communication and social media channels (M = 3.7, SD = 1.6)

   Table 5.3. Integration scores by sector
                                   Average integration across all             Average integration across all communication
                                      purchasing channels                               & social media channels
                                               Mean                                               Mean
         B2B-Product                             3.7                                                    3.1
          B2B-Service                            4.2                                                    4.0
         B2C-Product                             3.7                                                    3.9
         B2C-Service                             4.1                                                    4.1


© Christine Moorman                                                                                                               37
Social media employment drops off
  Marketplace         Growth            Spending            Performance    Social Media        Jobs            Organization         Leadership   Analytics



         Figure 5.3. Number of employees in-house and outsourced performing social media for company

                                             February                     February                        August
                                             2011                         2012                            2012
       10
                                               9.0
        9

        8

        7

        6
                               5.3
        5
                                                                                                                   4.0
        4                                                      3.6

        3
                                                                                                1.8                                 2.0
        2

        1

        0
                                Number of people employed in-house                        Number of individuals from outside vendors providing
                                  to do social media for company                                social media support for the company


© Christine Moorman                                                                                                                                     38
Topic 6: Marketing Jobs




                          39
                           39
Marketing employment on the rise:
  B2B-Service companies biggest percentage increase
  Marketplace                                                           Growth           Spending            Performance       Social Media    Jobs       Organization        Leadership      Analytics


    Figure 6.1. Percentage change in marketing hires planned                                                                                  Table 6.1. Percentage increase in marketing
                in next 12 months                                                                                                                        hires by sector
                                                               8%
                                                                                                    7.2%
                                                                                                                                                            B2B           B2B         B2C      B2C
    Percentage Increase in Marketing Hires in Next 12 Months




                                                               7%
                                                                                  6.2%                                               6.5%                 Product        Service    Product   Service

                                                               6%
                                                                                                                     5.2%                      February
                                                                                                                                                           2.1%          4.5%        1.9%      4.5%
                                                                                                                                                 2012
                                                               5%

                                                                    4.0%                                                                        August
                                                                                                                                                           4.0%          11.3%       4.1%      5.9%
                                                               4%                                                                                2012

                                                               3%


                                                               2%


                                                               1%


                                                               0%
                                                                    August       February           August          February       August
                                                                     2010          2011              2011             2012          2012




© Christine Moorman                                                                                                                                                                                  40
Outsourcing of marketing flat at 3.1%
  Marketplace                                                                     Growth        Spending      Performance   Social Media    Jobs      Organization   Leadership   Analytics


          Figure 6.2. Percentage of company marketing expected to be outsourced in next 12 months
                                                                               20.0%
           Percent of Companies Outsourcing Marketing Activities Expected to




                                                                               15.0%
                            Change in Next 12 Months (%)




                                                                               10.0%                                        9.3%




                                                                                           4.3%             4.5%
                                                                               5.0%
                                                                                                                                            3.2%             3.1%




                                                                               0.0%
                                                                                           August          February         August         February         August
                                                                                            2010             2011            2011            2012            2012


© Christine Moorman                                                                                                                                                                      41
Topic 7:
Marketing Organization




                         42
                          42
Where marketing is located in companies:
  Drop in corporate and increase in business unit locations
  Marketplace         Growth        Spending          Performance           Social Media          Jobs      Organization       Leadership   Analytics



                      Figure 7.1. Location of marketing in companies*
                                                              August 2011           August 2012
                               90.0%
                                            84.3%
                                                    79.7%
                               80.0%

                               70.0%

                               60.0%

                Percentage     50.0%
                of Firms (%)
                                                                            38.3%
                               40.0%

                               30.0%                                26.5%

                                                                                            16.9% 17.3%
                               20.0%
                                                                                                                  10.8% 9.3%
                               10.0%

                                0.0%
                                               Corporate              Business              Brand/Product          Field Offices
                                                                         Organization Location
                               *May exceed 100% if marketing is in multiple locations
© Christine Moorman                                                                                                                                43
Marketing and sales equal partners in
   most companies
  Marketplace         Growth         Spending             Performance          Social Media                 Jobs            Organization        Leadership             Analytics



           Figure 7.2. The marketing-sales relationship
                                                    August 2012      August 2011        August 2010       August 2009
                      80.0%
                                                            74.0%
                                              71.1%
                                  69.2% 69.7%
                      70.0%


                      60.0%


                      50.0%

  Percentage of
                 40.0%
 Respondents (%)

                      30.0%


                      20.0%
                                                                                   13.0%                        13.1%
                                                                                             10.9%                                  10.3%
                                                                                                       8.2%                                            8.8%     8.3%
                      10.0%                                                                                                                   7.3%


                      0.0%
                               Sales & marketing work on an equal basis            Marketing is within the sales function          Sales is within the marketing function



© Christine Moorman                                                                                                                                                           44
Topic 8:
Marketing Leadership




                       45
                        45
Marketing leadership increases on key
strategic activities
Marketplace          Growth              Spending    Performance   Social Media   Jobs    Organization    Leadership         Analytics


 Table 8.1. Percentage of companies in which marketing leads activity                    Stronger marketing leadership:
                                                                                         • Positioning
              Activity                   Feb-11         Feb-12         Aug-12            • Promotion
          Positioning                      79%           78%             82%             • Marketing research
          Promotion                        81%           79%             84%             • Social media
            Brand                          81%           84%             84%             • Competitive intelligence
     Marketing research                    73%           71%             75%             • Public relations
         Social media                      71%           73%             77%             • Lead generation
   Competitive intelligence                58%           62%             67%             • Market entry strategies
       Public relations                    65%           53%             61%             • CRM
      Lead generation                      53%           53%             57%             • Target/Market selection
   Market entry strategies                 50%           46%             55%             • Pricing
        New products                       44%           52%             51%
             CRM                           38%           41%             45%             Maintaining marketing leadership:
  Targeting/Market selection               31%           35%             40%             • Brand
            Sales                          32%           30%             27%             • New products
            Pricing                        30%           34%             38%
                                                                                         • Stock market performance
          Innovation                       33%           39%             37%
                                                                                         Weaker marketing leadership:
      Customer service                     22%           21%             18%
                                                                                         • Sales
  Stock market performance                 0.4%          1.2%            1.0%
                                                                                         • Innovation
 *Decreases of 1% or less are viewed as no change.                                       • Customer service


                                                                                                                                    46
Slight drop in retention but marketing leaders
  retained 4+ years, on average
  Marketplace         Growth               Spending             Performance             Social Media        Jobs       Organization   Leadership         Analytics


                                                                                                            ), and 2009 (34.7 months).
       Figure 8.1. Marketing leader retention                                                                Table 8.2. Sector differences in retention
                      August 2010       August 2011        February 2012     August 2012                                              Years in current role
           12                                                                                                                            August-2012
                                                                                      10.5                         B2B Product                     3.9
           10
                                                                      9.0     8.8
                                                                                               9.2                 B2B-Service                     4.3
            8
                                                                                                                   B2C-Product                     3.6
                                                                                                                   B2C-Service                     4.6
     Years 6                             5.4
                       4.6      4.3
                                                  4.1
            4



            2



            0
                Top marketer time in current role in the firm   Top marketer time in any role in the firm



© Christine Moorman                                                                                                                                             47
Marketer influence improves
  Marketplace         Growth        Spending     Performance         Social Media         Jobs      Organization   Leadership   Analytics



                Figure 8.2. Number of people reporting to top marketer

                                                    Direct reports         Indirect reports
                               30
                                                                                                   25.4
                                                                                                                     24.6
                               25


                               20
                                                          17
                                                                                15.4
                                        14.4
       Number of Reports 15


                               10

                                                                                                                      8.6
                               5                         7.2                        7.3
                                                                                                   6.0
                                        4.6
                               0
                                       August          August                  August            February           August
                                        2009            2010                    2011               2012              2012



© Christine Moorman                                                                                                                    48
Best Practice from Marketing Leaders:
                                   See full interviews at www.cmosurvey.org/cmo-insights/

  Marketplace         Growth       Spending       Performance      Social Media      Jobs        Organization   Leadership      Analytics


                               Chief Marketing Officer Kim Feil discusses how she built a marketing function. From insights to
                               accountability, she describes the organization, processes, metrics, and talent management strategies
                               important to this effort.


                               Executive Vice President and Chief Marketing Officer Geert van Kuyck shares ideas on building the
                               essential skill set for CMOs and the importance of defining the CMO’s mission. He discusses the use of
                               the Net Promoter Score and other metrics to evaluate business results at Philips, touching on Philips’
                               engagement with LinkedIn and social media metrics.



                               Executive Vice President and Chief Marketing Officer Stephen Quinn describes how Walmart rebuilt its
                               customer focus. Key steps involved harnessing internal support, generating market insight, using
                               customer-focused metrics, living the brand internally, and building marketing talent.



                               Global Marketing Officer Marc Pritchard shares his viewpoints on how marketing contributes to P&G’s
                               performance. He talks about how P&G learns about customers and how it is relentless in its attention to
                               building loyal customers and strong brands in the store, on the web, and around the world.



© Christine Moorman                                                                                                                      49
Topic 9:
Marketing Analytics




                      50
                       50
Spending on marketing analytics to
  increase 60% in three years
  Marketplace         Growth          Spending     Performance       Social Media   Jobs          Organization     Leadership    Analytics


   Figure 9.1. Percent of marketing budget spent on marketing analytics                    Table 9.1. Firm size differences
                                                                                                                                In Next
   16%                                                                                                           Current
                                                                                                                                3 years
   14%                                                                                         <$25M              5.4%          11.6%
                                                                     13.5%
                                                                                              $26-99M             7.1%          13.0%
   12%
                                                                                             $100-499M            8.9%          13.0%
   10%
                                                                                             $500-999M            8.1%          11.4%
    8%
                               8.0%
                                                                                               $1-9.9B           11.0%          18.8%

    6%                                                                                         $10+B              9.8%          11.8%

    4%                                                                                     Table 9.2. Firm internet sales differences
                                                                                                                                In Next
                                                                                                                 Current
    2%                                                                                                                          3 years
                                                                                                 0%               6.9%           12.0%
    0%
                       Current Levels                      In Next 3 Years                      1-10%             7.3%          12.2%
                         Marketing Budget Spent on Marketing Analytics
                                                                                                >10%              11.7%         17.8%


© Christine Moorman                                                                                                                     51
Most projects fail to use marketing analytics
  Marketplace         Growth    Spending             Performance      Social Media          Jobs         Organization         Leadership   Analytics



      Figure 9.2. Percentage of projects using marketing analytics in companies
                                                            February 2012     August 2012
       70%
                                                                                                                        65%
                                                                                                   63%
       60%


       50%


       40%                     37%
                                                     35%

       30%


       20%


       10%


        0%
                                     Use analytics                                                  Do not use analytics

© Christine Moorman                                                                                                                               52
Majority of companies do not evaluate
  marketing analytics
  Marketplace         Growth   Spending         Performance          Social Media           Jobs     Organization      Leadership   Analytics



           Figure 9.3. Does your company formally evaluate the quality of marketing analytics?
                                                              February 2012         August 2012
          80%


          70%                                                                                      67%

          60%
                                                                                                                     53.2%
          50%
                                                 46.8%

          40%
                                33%
          30%


          20%


          10%


           0%
                                   Evaluate quality                                                Do not evaluate quality


© Christine Moorman                                                                                                                        53
Contribution of marketing analytics to
  company performance
  Marketplace         Growth        Spending    Performance   Social Media   Jobs      Organization      Leadership      Analytics


                                                                                                         New question
       • Mean on 7-point scale: 3.9 (SD = 1.9%)                                                       in The CMO Survey


         Figure 9.4. To what degree does the use of marketing analytics contribute to your company's performance?

          25.0%
                                                                             22.7%

          20.0%

                        15.5%                                                              16.2%
          15.0%                                                  13.6%
                                        12.6%       12.0%

          10.0%
                                                                                                              7.4%

           5.0%



           0.0%
                          1               2           3            4           5              6                 7
                       Not at all                                                                          Very Highly




© Christine Moorman                                                                                                             54
Preview
     Next survey:             The CMO Survey will be administered in February 2013


     To participate:            Sign up at http://www.cmosurvey.org/participate/


     Media:           Press releases and coverage will be posted to http://www.cmosurvey.org/category/news/


     Feedback:             Send comments to moorman@duke.edu




© Christine Moorman                                                                                       55

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The cmo survey_highlights_and_insights_august-2012-final

  • 1. Highlights and Insights August 2012 www.cmosurvey.org © Christine Moorman
  • 2. About The CMO Survey Mission - The CMO Survey collects and disseminates the opinions of top marketers in order to predict the future of markets, track marketing excellence, and improve the value of marketing in firms and society. Survey Operation - Founded in August 2008, The CMO Survey is administered twice a year via an Internet survey. Questions repeat to observe trends. Special topics are introduced for each survey. - The August 2012 survey was the ninth administration of The CMO Survey. Sponsoring Organizations Founder and Director - Professor Christine Moorman, T. Austin Finch, Sr. Professor of Business Administration, Fuqua School of Business, Duke University © Christine Moorman 2
  • 3. Survey Methodology Survey Sample - 4674 Top U.S. Marketers at Fortune 1000, Forbes Top 200, and Top Marketers who are AMA Members or Duke University Alumni and Friends - 531 responded for a 11.3% response rate Survey Administration - Email contact with three follow-up reminders - Survey in field from July 17-August 3, 2012 - 86% of respondents VP-level or above Results Interpretation - M = sample mean; SD = sample standard deviation - B2B = Business-to-Business firms; B2C = Business-to-Consumer firms © Christine Moorman 3
  • 4. Overview of Results Topic 1: Marketplace Dynamics 5-12 Topic 2: Firm Growth Strategies 13-19 Topic 3: Marketing Spending 20-26 Topic 4: Financial and Marketing Performance 27-32 Topic 5: Marketing and Social Media 33-38 Topic 6: Marketing Jobs 39-41 Topic 7: Marketing Organization 42-44 Topic 8: Marketing Leadership 45-49 Topic 9: Marketing Analytics 50-54 Preview of Next Survey 55 © Christine Moorman 4
  • 6. Marketer optimism for U.S. economy slumps again; B2B sectors show greatest pessimism Marketplace Growth Spending Performance Social Media Jobs Organization Leadership Analytics Figure 1.1. How optimistic are you about the overall U.S. Figure 1.2. Optimism for U.S. economy by sector economy on a 0-100 scale with 0 being the least optimistic B2B-Product B2B-Service B2C-Product B2C-Service and 100 the most optimistic? 64.1 65 Marketer Optimism about Overall Economy 63.5 62.3 100.00 62.1 60.8 60 90.00 58.3 80.00 54.5 55.4 55 70.00 63.4 53.3 53.1 63.30 58.40 51.9 60.00 57.78 56.45 55.60 52.20 50 50.00 47.69 48 40.00 February August February August February August February August 45 2009 2009 2010 2010 2011 2011 2012 2012 August 2011 February 2012 August 2012 © Christine Moorman 6
  • 7. Uncertainty abounds: Optimists decrease and Pessimists increase Marketplace Growth Spending Performance Social Media Jobs Organization Leadership Analytics Figure 1.3. Are you more or less optimistic about the overall U.S. economy compared to last quarter? Less Optimistic No Change More Optimistic 80.0 68.8 70.0 62.1 63.3 59.0 60.0 57.4 50.0 50.7 % of 38.9 40.0 Respondents 35.2 32.0 35.8 28.9 35.2 27.7 28.3 30.0 26.0 25.5 26.0 29 20.0 17.3 14.9 15.0 10.0 9.0 8.5 5.7 0.0 February August February August February August February August 2009 2009 2010 2010 2011 2011 2012 2012 © Christine Moorman 7
  • 8. Marketer optimism for own companies exceeds expectations for overall economy Marketplace Growth Spending Performance Social Media Jobs Organization Leadership Analytics Figure 1.4. How optimistic are you on a 0-100 scale with 0 being the least optimistic and 100 the most optimistic? Overall Economy Own Company Revenue Growth 100.00 90.00 80.00 73.20 72.8 69.6 70.00 66.70 67.80 66.44 59.64 60.00 63.30 63.4 52.92 58.4 57.78 56.45 55.60 50.00 52.20 47.69 40.00 February August February August February August February August 2009 2009 2010 2010 2011 2011 2012 2012 © Christine Moorman 8
  • 9. Customer metrics forecast bleak: Marketers expect decreases in purchase volume, likelihood of buying related offerings, retention, acquisition, and price paid Marketplace Growth Spending Performance Social Media Jobs Organization Leadership Analytics Figure 1.5. Forecasted customer outcomes in next 12 months 80 74 Increased customer purchase volume 70 66 Increased customer price per unit 64 62 62.1 Customer will buy more related products and 60 services from my firm 59 56 56.1 54 53 52.8 My firm's ability to retain current customers has 52 52 52.9 increased % of 50 47 Increased entry of new customers into the market Respondents 45.4 50 49.8 49 45 41 40 43 37.4 43 39 31 30.4 33 30 26 25 20 February August February August February August 2010 2010 2011 2011 2012 2012 © Christine Moorman 9
  • 10. Customer priorities shift toward low price Marketplace Growth Spending Performance Social Media Jobs Organization Leadership Analytics Figure 1.6. Customers’ top priority in next 12 months 30.0% 26.3% 24.7% 25.0% 24.1% 23.2% 24.1% 21.4% Low Price Quality 20.0% 19.3% 18.9% 18.8% Innovation Service 17.3% 16.4% 15.0% Trust Brand 13.7% 13.7% 10.0% 10.0% 9.4% 6.8% 6.8% 7.5% 5.0% August 2011 February 2012 August 2012 © Christine Moorman 10
  • 11. Channel partner metrics to soften in next 12 months Marketplace Growth Spending Performance Social Media Jobs Organization Leadership Analytics Figure 1.7. Channel metrics in next 12 months Increased partner purchase volume Increased partner price per unit Increased partner purchase of related products and services from my firm 50 47 45 42 40 38.6 36 35 33 30 30 30.4 30 Percentage of 25 Respondents 24 21.4 20 18 14 15 10 5 0 August August August August 2009 2010 2011 2012 © Christine Moorman 11
  • 12. Competitor metrics show increased intensity: More competitors, more rivalry, more innovation Marketplace Growth Spending Performance Social Media Jobs Organization Leadership Analytics Figure 1.8. Competitor metrics in next 12 months 6 Exception is increased willingness to 5.5 cooperate on non-price strategies 5.4 5.3 5 4.9 4.8 More intense rivalry for customers 4.7 4.5 4.5 More competitor price-cutting 4 3.8 More competitor innovation 3.5 3.5 More cooperation on non-price 3.5 strategies 3.4 Emergence of new domestic 3 competitors 2.5 2 August August 2011 2012 *Measured on 7-point scale where 1=not at all likely and 7=very likely © Christine Moorman 12
  • 13. Topic 2: Firm Growth Strategies 13 13
  • 14. Growth strategies expected to take on more risk in next year Marketplace Growth Spending Performance Social Media Jobs Organization Leadership Analytics Types of Growth Strategies Table 2.1. How growth spending is expected to change* Existing New Actual Expected Products/ Products/ Percent Spending in Spending in Services Services Strategy Change Past 12 Next 12 Expected Months Months Market Product/Service Existing Market Penetration Development Markets Penetration 51.7% 45.7% -11.6% Strategy Strategy Strategy Market Development 15.7% 18.1% +15.3% Market Strategy New Diversification Markets Development Strategy Strategy Product/Service Development 22.8% 25.0% +9.6% Strategy Diversification 9.7% 11.2% +15.5% Strategy * % of spending across growth strategies © Christine Moorman 14
  • 15. Growth strategies vary by sector Marketplace Growth Spending Performance Social Media Jobs Organization Leadership Analytics Table 2.2. Expected changes in sector growth spending Notable shifts in next 12 months relative to prior year • B2C-Service companies take on most risk B2B B2B B2C B2C Product Service Product Service • B2C-Service companies largest focus on new markets Market Penetration Strategy -5.6% -5.9% -6.3% -7.8% • B2B-Service companies largest focus on new products/services and diversification Market Development Strategy +3.4% -0.7% +1.7% +5.8% Product/Service Development Strategy +1.2% +4.2% +2.8% +1% Diversification Strategy +1% +2.2% +1.7% +1% © Christine Moorman 15
  • 16. Growth from acquisitions & licensing expected to increase; sector differences significant Marketplace Growth Spending Performance Social Media Jobs Organization Leadership Analytics Table 2.3. How firms will grow in the next 12 months* Table 2.4. Sector use of growth strategies – August 2012* B2B B2B- B2C- B2C- Strategy Aug-10 Aug-11 Aug-12 Strategy Product Service Product Service Organic Organic Growth 69.5% 70.2% 68.9% 66.2% 67.6% 76.9% 72.2% Growth Growth from Growth via Acquisitions 10.8% 11.4% 12.2% 14.9% 12.3% 7.8% 10.4% Acquisition Growth from Growth from Partnerships 13.9% 13.5% 12.9% 12.0% 14.8% 9.6% 12.5% Partnerships Growth from Growth from Licensing 5.8% 5.1% 6.1% 6.9% 5.3% 5.7% 4.9% Licensing * Percentage of spending across growth strategies © Christine Moorman 16
  • 17. Canada and China leading international growth markets Marketplace Growth Spending Performance Social Media Jobs Organization Leadership Analytics Figure 2.1. Highest international revenue growth markets Table 2.5. Change in highest revenue growth (% respondents) markets Feb-12 Aug-12 Western Europe 23% 16.3% Other 20.6% Other 20% 20.6% Canada 16% 24.2% Western Europe Canada China 15% 21.5% 16.3% 24.2% Russia Brazil 7% 4.6% 0.6% Middle East 7% 4.0% Korea 0.6% India 3% 1.8% Japan 1.8% Mexico 3% 2.1% Eastern Europe 1.8% China 21.5% Eastern Europe 2% 1.8% Mexico 2.1% India Brazil Japan 2% 1.8% 1.8% 4.6% Middle East Korea 1% 0.6% 4.0% Russia 1% 0.6% © Christine Moorman 17
  • 18. China revenue growth by sector: B2C companies sales increase by over 100% Marketplace Growth Spending Performance Social Media Jobs Organization Leadership Analytics Table 2.6. Sector differences in Chinese market (% respondents) Feb-12 Aug-12 % Change B2B-Product 24.7% 26.3% 6.5% B2B-Service 10.5% 14.6% 39.0% B2C-Product 10.3% 21.2% 105.8% B2C-Service 6.3% 12.9% 104.8% © Christine Moorman 18
  • 19. Top international markets continue to grow (up 20%+ in the last year) Marketplace Growth Spending Performance Social Media Jobs Organization Leadership Analytics Average increase across all top international markets: 23.7% Figure 2.2. Average percent increase in sales revenue from top international market in prior 12 months 80% 75.0 70% 60% 51.5 49.7 50% 38.4 40% 29.0 30% 26.2 20.0 20% 16.3 13.4 12.5 10.7 9.4 10% 0% Brazil Canada China Eastern India Japan Korea Mexico Middle Other Russia Western Europe East Market Europe
  • 21. Growth in marketing budgets drops: Consumer industries show positive growth; B2B flat or down Marketplace Growth Spending Performance Social Media Jobs Organization Leadership Analytics Figure 3.1. Percent change in marketing budgets in next 12 months Table 3.1. Sector differences in marketing budgets Change in Marketing Spending Change in Marketing 25.0% Spending Feb-12 Aug-12 20.0% B2B Product 13.2% 5.7% B2B-Service 6.2% 6.2% 15.0% B2C-Product 3.3% 8.6% 9.2% 9.1% B2C-Service 4.6% 6.8% 10.0% 8.1% 6.7% 6.4% 5.9% 5.0% 1.1% 0.5% 0.0% February August February August February August February August 2009 2009 2010 2010 2011 2011 2012 2012 © Christine Moorman 21
  • 22. Marketing spending on traditional advertising expected to plummet (-137%) Marketplace Growth Spending Performance Social Media Jobs Organization Leadership Analytics Table 3.2. Percent change in marketing spending in next 12 months % Change, Aug-11 Feb-12 Aug-12 Feb-12 to Aug-12 Traditional advertising* spending 1.3% -0.8% -1.9% -137.5% Internet marketing spending 11.2% 12.8% 11.5% -10.2% New product introductions 10.4% 8.5% 9.4% +10.6% New service introductions 6.6% 4.2% 6.4% +52.4% Customer relationship 6.5% 7.1% 9.0% +26.8% management Brand building 5.7% 7.2% 7.5% +4.2% *Refers to media advertising not using the web. © Christine Moorman 22
  • 23. Investments in building marketing knowledge expected to remain strong Marketplace Growth Spending Performance Social Media Jobs Organization Leadership Analytics Table 3.3. Changes in firm spending on marketing knowledge in next 12 months Feb-12 Aug-12 % Change Marketing research and intelligence 6.2% 8.2% +32.3% Marketing consulting services 1.7% 3.3% +94.1% Developing knowledge about how to do marketing 4.6% 5.8% +26.1% Integrating what we know about marketing 6.6% 8.2% +24.2% Marketing training 3.7% 7.2% +94.6% © Christine Moorman 23
  • 24. Marketing budgets increase as percentage of firm budgets Marketplace Growth Spending Performance Social Media Jobs Organization Leadership Analytics Figure 3.2. Marketing budgets as a percent of firm budgets* 16.0% 14.0% 12.0% 11.4% 10.4% 10.0% 10.0% 8.1% 8.0% 6.0% 4.0% 2.0% February August February August 2011 2011 2012 2012 *Question asked in Feb-11 for the first time. © Christine Moorman 24
  • 25. Size of marketing budget varies by company sector, sales, and internet sales Marketplace Growth Spending Performance Social Media Jobs Organization Leadership Analytics Table 3.4. Marketing percentage of firm budget by economic sector B2B B2B B2C B2C Product Services Product Services August 2011 7.0% 11.1% 11.6% 12.1% February 2012 8.7% 8.2% 16.1% 16.8% August 2012 8.5% 11.6% 17.4% 10.7% Table 3.5. Marketing percentage of firm budget by company sales revenue <$25 $26-99 $100-499 $500-999 $1-9.9 >$10 Million Million Million Million Billion Billion August 2011 11.3% 14.6% 10% 7.8% 3.1% 6.6% February 2012 10.7% 12.3% 13.5% 4.7% 6.7% 8.8% August 2012 11.9% 10.2% 9.5% 7.7% 9.7% 18.1% Table 3.6. Marketing percentage of firm budget by company internet sales 0% 1-10% >10% Internet Sales Internet Sales Internet Sales August 2011 8.7% 7.9% 16.8% February 2012 8.4% 9.5% 18.0% August 2012 10.2% 10.2% 16.4% © Christine Moorman 25
  • 26. Marketing spending as a percentage of firm revenues Marketplace Growth Spending Performance Social Media Jobs Organization Leadership Analytics • Mean percentage: 11.0% (August-2012) vs. 8.5% (February-2012) • 95 percent confidence interval: 9.3%-14.4% Table 3.7. Marketing spending as a percentage of firm revenues by economic sector* B2B B2B B2C B2C Product Services Product Services February 2012 7.3% 4.8% 13.8% 16.6% August 2012 11.4% 11.9% 9.8% 16.1% Table 3.8. Marketing spending as a percentage of firm revenues by company sales revenue* <$25 $26-99 $100-499 $500-999 $1-9.9 >$10 Million Million Million Million Billion Billion February 2012 11.8% 9.0% 14.7% 1.7% 2.8% 5.2% August 2012 17.8% 10.7% 10.6% 9.4% 6.1% 13.1% Table 3.9. Marketing spending as a percentage of firm revenues by company internet sales* 0% 1-10% >10% Internet Sales Internet Sales Internet Sales February 2012 6.3% 9.0% 14.4% August 2012 11.0% 9.3% 18.3% *Question asked in Feb-12 for the first time. © Christine Moorman 26
  • 27. Topic 4: Financial and Marketing Performance 27 27
  • 28. Company performance on financial metrics remains positive but weakens Marketplace Growth Spending Performance Social Media Jobs Organization Leadership Analytics % Change Figure 4.1. Firm performance in prior 12 months Feb-2012 to 5.0% Aug-2012 4.8% Firm Sales -16.7% 4.5% Firm Profits -15.4% 4.0% 4.0% 3.9% 4.0% 3.8% Marketing ROI -8.6% 3.4% 3.4% 3.5% 3.3% 3.5% 3.2% 3.0% 2.7% 3.0% 2.5% Firm sales 2.2% Firm profits 2.2% 2.0% Marketing ROI 1.8% 1.5% 1.0% 0.5% 0.0% August February August February August 2010 2010 2011 2012 2012 © Christine Moorman 28
  • 29. Key customer and brand assets follow suit Marketplace Growth Spending Performance Social Media Jobs Organization Leadership Analytics % Change Figure 4.2. Change in company performance on customer and brand metrics Feb-2012 to Customer acquisition Customer retention Brand value Aug-2012 Customer 4.5% -13.2% Acquisition 4.1% Customer -9.1% 4.0% Retention 3.5% Brand 3.8% 3.4% -17.1% 3.5% 3.2% Value 2.9% 3.3% 3.0% 3.2% 2.5% 2.2% 2.6% 2.6% 2.0% 2.0% 1.6% 1.7% 1.4% 1.5% 1.0% 0.5% 0.0% August August August February August 2009 2010 2011 2012 2012 © Christine Moorman 29
  • 30. Company performance by sector Marketplace Growth Spending Performance Social Media Jobs Organization Leadership Analytics Table 4.1. Sector performance metrics for prior 12 months B2B- B2B- B2C- B2C- Product Services Product Services Firm sales 3.8% 4.7% 3.6% 4.0% Marketing return on investment 3.0% 4.0% 1.8% 4.1% Firm profits 3.2% 3.9% 2.5% 3.6% Customer acquisition 3.5% 3.5% 2.6% 3.8% Customer retention 2.1% 1.6% 2.0% 2.7% Brand value 3.4% 3.8% 3.3% 3.1% © Christine Moorman 30
  • 31. Firm performance goals remain strong Marketplace Growth Spending Performance Social Media Jobs Organization Leadership Analytics Table 4.2. Company performance and goals Actual firm performance Goal in the % Increase in goal in prior 12 months next 12 months over performance Firm sales 4.0% 6.8% 70% Marketing return on investment 4.6% 5.4% 17.4% Firm profits 3.3% 6.0% 81.8% Customer acquisition 3.3% 5.8% 75.8% Customer retention 2.0% 4.8% 140% Brand value 3.4% 5.8% 70.6% © Christine Moorman 31
  • 32. How would you rate your company's marketing excellence? Marketplace Growth Spending Performance Social Media Jobs Organization Leadership Analytics • Mean on 7-point scale: 4.4 (SD = 1.4%) New question in The CMO Survey Figure 4.3. Ratings of marketing excellence in companies 35.0% 29.7% 30.0% 25.0% 23.2% 20.0% 17.5% 14.4% 15.0% 10.0% 8.5% 4.8% 5.0% 2.0% 0.0% 1=Very Weak 2=Weak 3=Fair 4=Good 5=Strong 6=A leader but not one 7=Excellent, one of the of the best best in the world © Christine Moorman 32
  • 33. Topic 5: Marketing and Social Media 33 33 33
  • 34. Social media spending growth continues: Expected to be 18.8% of marketing budgets in five years Marketplace Growth Spending Performance Social Media Jobs Organization Leadership Analytics Figure 5.1. Social media spending as a percentage of marketing budgets over time 20.0% 18.8% Percentage of Total Marketing Budget (%) 15.0% 10.7% 10.0% 7.6% 5.0% 0.0% Current Levels Over Next 12 Months In Next 5 Years © Christine Moorman 34
  • 35. Social media spending across sectors Marketplace Growth Spending Performance Social Media Jobs Organization Leadership Analytics Table 5.1. Sector differences in change in social media spending August 2011 February 2012 August 2012 B2B - Product 4.2% 6.2% 5.0% B2B - Services 8.6% 7.4% 9.4% Current Social Media B2C - Product 10.5% 9.6% 9.0% Spending B2C - Services 5.9% 8.4% 9.0% Overall 7.1% 7.4% 7.6% B2B - Product 7.0% 9.4% 8.4% Social Media B2B - Services 11.5% 10.1% 12.7% Spending in the B2C - Product 13.6% 15.3% 11.4% next 12 B2C - Services 9.4% 11.7% 12.1% months Overall 10.1% 10.8% 10.7% B2B - Product 13.4% 18.5% 15.3% Social Media B2B - Services 18.3% 19.1% 20.0% Spending in B2C - Product 24.0% 23.0% 24.4% the next 5 years B2C - Services 17.3% 19.0% 19.3% Overall 17.5% 19.5% 18.8% © Christine Moorman 35
  • 36. Social media integration gap not closing Marketplace Growth Spending Performance Social Media Jobs Organization Leadership Analytics Question: How effectively is social media Figure 5.2. How social media is integrated with strategy integrated with your firm’s marketing strategy? 7-point scale (1=not integrated, 7=very integrated) Results: Social media remains poorly integrated 25% 22.2% with marketing strategy: 20% 16.7% • Aug, 2012: Mean = 3.8, SD = 1.9 13.9% 13.9% 15% 13.3% 13.3% • Feb, 2012: Mean = 3.8, SD = 1.9 Percent of • Feb, 2011: Mean = 3.8, SD = 2.0 Respondents (%) 10% 6.8% 5% Table 5.2. Integration scores by sector 0% 1 2 3 4 5 6 7 Mean (SD) Not at all Very Aug-2012 Integrated Integrated B2B-Product 3.0 (1.9) B2B-Services 4.1 (1.7) B2C-Product 4.3 (1.6) B2C-Services 4.3 (1.8) © Christine Moorman 36
  • 37. Poor integration of customer information across channels Marketplace Growth Spending Performance Social Media Jobs Organization Leadership Analytics New question Question:. How effectively does your company integrate customer in The CMO Survey information across the following channels (1=not at all, 7=very effectively) Results: • All purchasing channels (M = 3.9, SD = 1.6) • Across all communication and social media channels (M = 3.7, SD = 1.6) Table 5.3. Integration scores by sector Average integration across all Average integration across all communication purchasing channels & social media channels Mean Mean B2B-Product 3.7 3.1 B2B-Service 4.2 4.0 B2C-Product 3.7 3.9 B2C-Service 4.1 4.1 © Christine Moorman 37
  • 38. Social media employment drops off Marketplace Growth Spending Performance Social Media Jobs Organization Leadership Analytics Figure 5.3. Number of employees in-house and outsourced performing social media for company February February August 2011 2012 2012 10 9.0 9 8 7 6 5.3 5 4.0 4 3.6 3 1.8 2.0 2 1 0 Number of people employed in-house Number of individuals from outside vendors providing to do social media for company social media support for the company © Christine Moorman 38
  • 39. Topic 6: Marketing Jobs 39 39
  • 40. Marketing employment on the rise: B2B-Service companies biggest percentage increase Marketplace Growth Spending Performance Social Media Jobs Organization Leadership Analytics Figure 6.1. Percentage change in marketing hires planned Table 6.1. Percentage increase in marketing in next 12 months hires by sector 8% 7.2% B2B B2B B2C B2C Percentage Increase in Marketing Hires in Next 12 Months 7% 6.2% 6.5% Product Service Product Service 6% 5.2% February 2.1% 4.5% 1.9% 4.5% 2012 5% 4.0% August 4.0% 11.3% 4.1% 5.9% 4% 2012 3% 2% 1% 0% August February August February August 2010 2011 2011 2012 2012 © Christine Moorman 40
  • 41. Outsourcing of marketing flat at 3.1% Marketplace Growth Spending Performance Social Media Jobs Organization Leadership Analytics Figure 6.2. Percentage of company marketing expected to be outsourced in next 12 months 20.0% Percent of Companies Outsourcing Marketing Activities Expected to 15.0% Change in Next 12 Months (%) 10.0% 9.3% 4.3% 4.5% 5.0% 3.2% 3.1% 0.0% August February August February August 2010 2011 2011 2012 2012 © Christine Moorman 41
  • 43. Where marketing is located in companies: Drop in corporate and increase in business unit locations Marketplace Growth Spending Performance Social Media Jobs Organization Leadership Analytics Figure 7.1. Location of marketing in companies* August 2011 August 2012 90.0% 84.3% 79.7% 80.0% 70.0% 60.0% Percentage 50.0% of Firms (%) 38.3% 40.0% 30.0% 26.5% 16.9% 17.3% 20.0% 10.8% 9.3% 10.0% 0.0% Corporate Business Brand/Product Field Offices Organization Location *May exceed 100% if marketing is in multiple locations © Christine Moorman 43
  • 44. Marketing and sales equal partners in most companies Marketplace Growth Spending Performance Social Media Jobs Organization Leadership Analytics Figure 7.2. The marketing-sales relationship August 2012 August 2011 August 2010 August 2009 80.0% 74.0% 71.1% 69.2% 69.7% 70.0% 60.0% 50.0% Percentage of 40.0% Respondents (%) 30.0% 20.0% 13.0% 13.1% 10.9% 10.3% 8.2% 8.8% 8.3% 10.0% 7.3% 0.0% Sales & marketing work on an equal basis Marketing is within the sales function Sales is within the marketing function © Christine Moorman 44
  • 46. Marketing leadership increases on key strategic activities Marketplace Growth Spending Performance Social Media Jobs Organization Leadership Analytics Table 8.1. Percentage of companies in which marketing leads activity Stronger marketing leadership: • Positioning Activity Feb-11 Feb-12 Aug-12 • Promotion Positioning 79% 78% 82% • Marketing research Promotion 81% 79% 84% • Social media Brand 81% 84% 84% • Competitive intelligence Marketing research 73% 71% 75% • Public relations Social media 71% 73% 77% • Lead generation Competitive intelligence 58% 62% 67% • Market entry strategies Public relations 65% 53% 61% • CRM Lead generation 53% 53% 57% • Target/Market selection Market entry strategies 50% 46% 55% • Pricing New products 44% 52% 51% CRM 38% 41% 45% Maintaining marketing leadership: Targeting/Market selection 31% 35% 40% • Brand Sales 32% 30% 27% • New products Pricing 30% 34% 38% • Stock market performance Innovation 33% 39% 37% Weaker marketing leadership: Customer service 22% 21% 18% • Sales Stock market performance 0.4% 1.2% 1.0% • Innovation *Decreases of 1% or less are viewed as no change. • Customer service 46
  • 47. Slight drop in retention but marketing leaders retained 4+ years, on average Marketplace Growth Spending Performance Social Media Jobs Organization Leadership Analytics ), and 2009 (34.7 months). Figure 8.1. Marketing leader retention Table 8.2. Sector differences in retention August 2010 August 2011 February 2012 August 2012 Years in current role 12 August-2012 10.5 B2B Product 3.9 10 9.0 8.8 9.2 B2B-Service 4.3 8 B2C-Product 3.6 B2C-Service 4.6 Years 6 5.4 4.6 4.3 4.1 4 2 0 Top marketer time in current role in the firm Top marketer time in any role in the firm © Christine Moorman 47
  • 48. Marketer influence improves Marketplace Growth Spending Performance Social Media Jobs Organization Leadership Analytics Figure 8.2. Number of people reporting to top marketer Direct reports Indirect reports 30 25.4 24.6 25 20 17 15.4 14.4 Number of Reports 15 10 8.6 5 7.2 7.3 6.0 4.6 0 August August August February August 2009 2010 2011 2012 2012 © Christine Moorman 48
  • 49. Best Practice from Marketing Leaders: See full interviews at www.cmosurvey.org/cmo-insights/ Marketplace Growth Spending Performance Social Media Jobs Organization Leadership Analytics Chief Marketing Officer Kim Feil discusses how she built a marketing function. From insights to accountability, she describes the organization, processes, metrics, and talent management strategies important to this effort. Executive Vice President and Chief Marketing Officer Geert van Kuyck shares ideas on building the essential skill set for CMOs and the importance of defining the CMO’s mission. He discusses the use of the Net Promoter Score and other metrics to evaluate business results at Philips, touching on Philips’ engagement with LinkedIn and social media metrics. Executive Vice President and Chief Marketing Officer Stephen Quinn describes how Walmart rebuilt its customer focus. Key steps involved harnessing internal support, generating market insight, using customer-focused metrics, living the brand internally, and building marketing talent. Global Marketing Officer Marc Pritchard shares his viewpoints on how marketing contributes to P&G’s performance. He talks about how P&G learns about customers and how it is relentless in its attention to building loyal customers and strong brands in the store, on the web, and around the world. © Christine Moorman 49
  • 51. Spending on marketing analytics to increase 60% in three years Marketplace Growth Spending Performance Social Media Jobs Organization Leadership Analytics Figure 9.1. Percent of marketing budget spent on marketing analytics Table 9.1. Firm size differences In Next 16% Current 3 years 14% <$25M 5.4% 11.6% 13.5% $26-99M 7.1% 13.0% 12% $100-499M 8.9% 13.0% 10% $500-999M 8.1% 11.4% 8% 8.0% $1-9.9B 11.0% 18.8% 6% $10+B 9.8% 11.8% 4% Table 9.2. Firm internet sales differences In Next Current 2% 3 years 0% 6.9% 12.0% 0% Current Levels In Next 3 Years 1-10% 7.3% 12.2% Marketing Budget Spent on Marketing Analytics >10% 11.7% 17.8% © Christine Moorman 51
  • 52. Most projects fail to use marketing analytics Marketplace Growth Spending Performance Social Media Jobs Organization Leadership Analytics Figure 9.2. Percentage of projects using marketing analytics in companies February 2012 August 2012 70% 65% 63% 60% 50% 40% 37% 35% 30% 20% 10% 0% Use analytics Do not use analytics © Christine Moorman 52
  • 53. Majority of companies do not evaluate marketing analytics Marketplace Growth Spending Performance Social Media Jobs Organization Leadership Analytics Figure 9.3. Does your company formally evaluate the quality of marketing analytics? February 2012 August 2012 80% 70% 67% 60% 53.2% 50% 46.8% 40% 33% 30% 20% 10% 0% Evaluate quality Do not evaluate quality © Christine Moorman 53
  • 54. Contribution of marketing analytics to company performance Marketplace Growth Spending Performance Social Media Jobs Organization Leadership Analytics New question • Mean on 7-point scale: 3.9 (SD = 1.9%) in The CMO Survey Figure 9.4. To what degree does the use of marketing analytics contribute to your company's performance? 25.0% 22.7% 20.0% 15.5% 16.2% 15.0% 13.6% 12.6% 12.0% 10.0% 7.4% 5.0% 0.0% 1 2 3 4 5 6 7 Not at all Very Highly © Christine Moorman 54
  • 55. Preview Next survey: The CMO Survey will be administered in February 2013 To participate: Sign up at http://www.cmosurvey.org/participate/ Media: Press releases and coverage will be posted to http://www.cmosurvey.org/category/news/ Feedback: Send comments to moorman@duke.edu © Christine Moorman 55