Chief marketing officers at US companies are planning significant hiring and budget increases over the next two years as they remain optimistic about prospects for their companies and the economy, according to a survey conducted by Duke University and the American Marketing Association. Overall, CMOs expect marketing budgets to increase, on average, 5.9% in the next year, with social media emerging as a central component of Internet marketing strategies.
Below, other findings from the February 2010 CMO Survey, a nationwide poll of senior marketing executives conducted biannually.
Economic and Business Outlook
Economic optimism continues to grow: 62.1% of CMOs say their optimism about the US economy has increased since the previous quarter, compared with 59.1% who had said so six months earlier (Aug. 2009).
Nearly two-thirds (63.9%) of CMOs say they are more optimistic about their own companies than they were in the previous quarter, compared with 48.2% who had said so six months earlier.