Customer anxiety and cutbacks are the biggest factors influencing marketing budget allocation in 2009, according to the newly released Marketing Outlook 2009 report from the Chief Marketing Officer (CMO) Council.
The audit of over 650 marketers across all regions of the world revealed that, despite a restrained economy, marketers see budgets holding up fairly well, with dollars being stringently controlled and directed against growing and retaining market share.
• Nearly one third plan at least a small budget increase, with eight percent planning a bump of more than 10 percent.
• Almost half will decrease spending somewhat, with 19 percent anticipating cuts of more than 15 percent.
• Marketers remain committed to their personnel, which represent 42 percent of budgets, and plan to invest in retraining employees for the digital age rather than replacing them with new talent.
Given the economic challenges and market pressures worldwide, this year's review of 2008 performance and 2009 challenges and intentions is far deeper and wider than before. The CMO Council invites all marketers seeking peer-level input and consensus on critical issues and priorities to download the study.
The 40-page findings report contains detailed anticipated allocations across both functional and media spend, an outline of shifts within traditional and online media, as well as in-depth reports on technology implementations and investments anticipated in 2009. A complimentary 13-page executive summary with abridged findings is also available at: http://www.cmocouncil.org/resources/form_marketing-outlook-2009.asp.