Major shift in CMO priorities for 2010

As I promised in early posts, the new data from our annual CMO study will be put online here before we issue our formal report.

This year the study was fielded by the good folks at Bellwether Interactive, led by Frank Woei. Last year the study was fielded by Forrester (formerly Jupiter Research).  The study is among CMOs and other marketing decision makers at corporations with revenues of $250 million or more (about 70% are over $1 billion in revenues).

The headline:

A major shift in CMO priorities for 2010.  Marketers are re-engaging with customers.  The focus on cost-cutting and ROI has given way to brand building — or rather, rebuilding after a year of neglect.

Top 3 priorities for 2010:

#1. Evolving our brand as our company’s business strategy evolves

#2. Preparing for an economic upturn

#3. Refreshing our brand’s image

Compare this to the Top 3 priorities for 2009:

#1. Achieving measurable ROI on marketing efforts

#2. Developing marketing programs that integrate online and traditional media

#3. (Tie) “Translating the customer experience across different touchpoints”  and “Cutting marketing budgets without cutting performance”

This is a very positive sign for marketing in particular, for companies that believe in marketing and for the overall economy in general.  Marketing plays a vital role in stimulating demand.  Without demand, the economy will stagnate.