A survey conducted by Duke University’s Business School. Sent out its latest CMO survey found that CMO’s are enthusiastic about digital marketing, projecting an 11.5% increase in spending for digital over the next 12 months. While traditional advertising found CMO’s decreasing ad buys for these channels. I do see an increase in spend for experimentation in Social Advertising space which will fall under digital spend.
The survey also found that CMOs were increasing there budgets on platforms that focus just on customer relationship management. CMOs currently spend on average of 7.6% of there total marketing dollars on social media. Respondents expect to increase this by 40% in the next year to 10.7% and then double to 18.8% in the next 5 years.