Buoyed by renewed confidence in the US economy and higher expectations for new business, CMOs say they plan to boost marketing spending over the next 12 months, with B2B products and B2B services marketers leading the way, according to the CMO Survey.
Moreover, the renewed confidence among surveyed CMOs is reflected in their higher financial performance goals:
- Sales are expected to climb 6.8% on average over the next 12 months, up 42% from the 4.8% bump in sales recorded in the previous 12-month period.
- Profits are expected to rise 6.2%, up 59% from the 3.9% profit growth recorded over the past year.
- New customer acquisition is expected to rise 5.7%, up 45% from the 6.2% growth achieved in the past year.
Below, additional findings from the February 2012 CMO Survey, a nationwide poll of senior marketing executives conducted biannually by The American Marketing Association and Duke University's Fuqua School of Business.
Confidence in New Business Growing
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