The audit covering 650 marketers worldwide revealed that, despite a restrained economy, marketers see budgets holding up fairly well, with spending being stringently controlled and directed against growing and retaining market share.
According to the audit nearly one third plan at least a small budget increase, with eight percent planning a bump of more than 10 percent. Almost half will decrease spending somewhat, with 19 percent anticipating cuts of more than 15 percent.
Marketers remain committed to their personnel, which represent 42 percent of budgets, and plan to invest in retraining employees for the digital age rather than replacing them with new talent.
The CMo Council believes given the economic challenges and market pressures worldwide, this year's review of 2008 performance and 2009 challenges and intentions is far deeper and wider than before. It is inviting all marketers seeking peer-level input and consensus on critical issues and priorities to download the study.
The 40-page findings report contains detailed anticipated allocations across functional and media spend, an outline of shifts within traditional and online media, and in-depth reports on technology implementations and investments anticipated in 2009. A complimentary 13-page executive summary with abridged findings is also available at http://www.cmocouncil.org/resources/form_marketing-outlook-2009.asp.
For more on the CMO Council visit their press office.
