CMO Expenditure Survey Annual Report 2020 From Gartner
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The following is the CMO Expenditure Survey Annual Report 2020 From Gartner recommended by recordtrend.com. And this article belongs to the classification: Gartner, research report, network marketing.
Gartner released the annual report on CMO expenditure survey, with the main findings as follows:
A contemptuous disregard of novel coronavirus pneumonia is a major reason why CMO officials are pessimistic about the economy, because 73% of respondents expect the negative impact of new crown pneumonia to be transient and inconsistent with the expectations of senior executives.
Despite the optimistic outlook novel coronavirus pneumonia is facing a direct budget deficit. Nearly half of CMO (44%) is facing budget cuts in 2020. 11% of respondents expect a substantial budget cut of more than 15%.
In order to reconcile the contradiction between economic optimism and budget constraints, CMOS continue to pursue a relatively conservative growth strategy, with 79% of CMOS relying mainly on existing markets to drive growth.
Internal spending is accelerating. A third of the marketing effort has shifted from institutional to internal, but budget challenges have constrained future plans.
Marketing technology has been strong in the past year. Despite the uncertain period, it still maintained a 26.2% share of the marketing budget.
In 2020, digital channels will account for almost 80% of the budget. According to the survey, 62% of CMOS expect total media spending to rebound in 2021.
proposal
Strategic and marketing leadership should focus on:
Make flexible and adaptable plans. Volatility will persist over the next year and CMOS must have the right tools, processes and insights to develop strategies and spending priorities in line with changing environmental conditions.
Zero based priority (ZBP) is used to stratify and prioritize marketing investment.
With value segmentation, focus on the growth of 2021 on the most profitable customers.
In addition, CMOS should use marketing leadership and strategy to:
By linking internal and outsourcing decisions with strategic capability objectives, considering near-term cost and ROI factors, and establishing organizational strategy.
Develop KPI for technology investment by addressing the potential impact of marketing technology on operations.
Plan channel investment and execution according to changing customer itinerary.
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