CMOs Signal Aggressive Increase In Spending
According to a new Duke University Fuqua School of Business study involving hundreds of CMOs throughout the country, it looks like 2011 will see healthy increases to many areas of the marketing budget. Overall gains in CMO budgets are estimated at 9.2%. The only area facing diminished budget allocations is traditional advertising.
Internet advertising receives the biggest projected increase at nearly 14%. Introductions of new products (9.10%) and new services (7.20%) are also indicative of healthier marketing initiatives and the budgets required to support those efforts.
A large change from a few years ago is the substantial increase in budget being devoted to CRM initiatives. It is slated to increase 8.30%.
For complete results on the survey, check out this slide deck at SlideShare.
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