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CMO survey results

Posted by Michael Bloch in web marketing (Wednesday March 18, 2009 )

For us little guys of the online marketing world sitting at home in our boxers, with overflowing ash trays and coffee cups breeding strange new organisms (or is that just me?); it’s always interesting to grab at peek at how our slick, suit wearing, latte sipping counterparts are thinking about the time ahead.

The CMO Survey reports on the opinions of high ranking marketers from top companies. The February survey shows 59.3 % of respondents are less optimistic about the U.S. economy compared to last quarter.

As for customers’ top priorities in the time ahead in according to the CMO’s:

Low price: 30%
Trusting relationship: 20%
Superior product quality: 19%
Superior innovation: 16%
Excellence in service: 11%
Brand: 6%

.. so we’re going to be seeing a lot more pricing wars – and lower profit margins. Not so bad if you’re a one-man show with low overheads, but even then if you don’t have the buying power to compete on price, it’s going to be tough for the little guy also. Again, it’s a great time to be based in clicks rather than bricks.

Those surveyed estimate a 7% plus decrease in traditional advertising and an increase in about 10% in Internet marketing – so grab some free PPC credits while you can before the big guys take another solid run at it and boost prices for everyone :).

As for the companies across all industries who set the standard for excellence in marketing? According to the respondents; it’s Apple, P&G and Coca-Cola.

There’s lots of interesting insights in The CMO Survey; particularly in relation to the environment. It’s always a pleasant surprise to see these sorts of issues raised as just a few years ago the world of marketing and environment were poles apart. You can download the full report here.



 

 
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