Posts Tagged 'Bellwether Interactive'

Trends in marketing, Part 2

Some more insight from our new CMO study into marketing tools and techniques.  We surveyed 130 CMOs and marketing decision makers about marketing methods, tools and techniques.  In this post and some earlier posts I have been sharing topline findings from the research.

I compare marketing last year to a deep freeze.  Budgets were frozen, projects were frozen, innovation was frozen.  Last year pretty much everyone was focused on retrenchment.  They need to justify marketing spend with quantifiable ROI, cutting out costs, re-organizing the marketing functions.

Our study shows that marketing is clearly thawing.  But it isn’t even.  Some companies have moved forward to take advantage of the situation.  And others are still in a deep freeze.  We are now seeing 2 distinct segments of marketers.  [A special acknowledgement to Frank Woei of Bellwether Interactive for uncovering this].

One segment is the “Evolvers”.  This group is maximizing the situation by seizing new opportunities.  They are prioritizing evolving their marketing to match evolving business strategies, and preparing for the economic upturn by improving their brand image and reputation.

The other segment is the “Re-organizers”  This group is still frozen in place. They are analyzing and re-evaluating everything, seeking that measurable ROI and cutting marketing costs everywhere possible.

In past recessions we have seen that some companies have a great resilience and come out relatively stronger than going into the recession.  We are now seeing evidence that the pattern is repeating in this recession.  Hyundai and Apple immediately come to mind as winners emerging in a changed marketplace.

Marketing trends for 2010

The marketing landscape is shifting.

The big news is the growing importance of corporate social responsibility to improve brand image. That has jumped 13% points from 19% to 32% in 2010.  While it is not a top 3 trend, it has not been stopped by last year’s economic pressures.

The growth of social media is now the #1 most important marketing trend for 2010.

That is up +6% from last year and replaces last year’s “shifting from traditional media to digital media” as the most important trend.

More to follow as we dig deeper into the data and find knowledge.

Again, thanks to Frank Woei at Bellwether Interactive for their great work fielding this study (bellwetherinteractive.com).

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.


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