![]() The size of marketing organizations grew by 15.1% in the last year but is expected to drop to 7.3% growth in the next year, reverting closer to growth rates reported before the pandemic. Only 18% are doing more text analysis, which is somewhat surprising given its availability to most marketers. As one might expect, market research has also changed quite a bit during the pandemic, with more companies studying online consumer behavior (63.3%) and using more video interviews (57.8%). These investments have paid off with the quality of all marketing knowledge resources rising during this period. They have nearly doubled investments in developing knowledge about marketing strategy and operations and tripled investments in marketing research and intelligence. Marketers have invested in building their knowledge resources through the pandemic. We expect to see analytics continue to rise, enabling teams to defend investments and make more precise decisions across the marketing landscape. Companies have also made good progress attributing to marketing analytics to company performance. Marketing analytics is now being used in nearly half of all marketing decisions, rising from 38% just before the pandemic. Spending on marketing analytics as a percentage of the marketing budget hit an all-time high of 8.9% after a decade-long level of 6% to 7%. Both mobile and social continue to disappoint marketers in terms of contributions to company performance, showing no improvement over time. Spending on social media has also been flat at 14%-15% of budgets over the last 18 months, coming off a June 2020 Covid splurge when spending reached 23.2% of marketing budgets. Mobile spending as a percent of marketing budgets is flat at 13.7% and has returned to pre-pandemic levels (13.5%) after climbing to a high of 23% during the pandemic. Traditional advertising spending returns to negative growth after temporary lifts across the last two surveys, restarting a decade-long decline. Brand, CRM, and innovation investments follow the same pattern-all growing but reverting to levels closer to pre-Covid levels. Marketers report 10.4% growth in marketing spending over the last year but predict this level will decrease and start trending toward the pre-Covid level of 5.8% growth in the next year. This level also corresponds to the growing importance of marketing in organizations, which has increased in more than half of all companies over the last two and half years. The pandemic’s acceleration of digital marketing investments has pushed marketing budgets as a percent of company budgets up to the highest level in the CMO Survey history. This finding reflects buyers’ growing appetite to embrace traditional channels after two years of all-digital interactions. Surprisingly only 10.5% of marketers report their former face-to-face channels are now all digital, and half report their companies are returning to or opening up face-to-face channels. The pandemic has changed the use of channels-65% of marketers are now using a larger number of channels while 41% using social channels to sell. Both B2B and B2C buyers will be seeking to balance quality and price, as they manage budgets buffeted by inflation. ![]() This priority holds as most important, but low price has now emerged as a secondary priority given inflationary pressures. While trusting relationships were most important to customers before the pandemic, this shifted to focus on product quality during the pandemic. This level is lower than the 66.8 reported in February 2022, which is not surprising as many marketers are concerned about growth prospects this year and next. economy hit 57.2 (out of 100)-up from 50.9 at the height of the pandemic in June 2020 and the all-time low of 47.7 in February 2009 during the Great Recession. companies, 95.6% of whom are VP-level or higher. These results are based on our most recent survey of 273 marketing leaders at for-profit U.S. Results show that some aspects of marketing have changed quite a bit over the last three years, while other aspects that changed dramatically during Covid have returned to pre-Covid levels. This 29th edition examines how marketers are approaching strategies, spending, and organization in a post-Covid environment. The CMO Survey has been collecting and disseminating the opinions of marketing leaders since 2008. However, we can address the question of how the pandemic has changed marketing. We don’t know what’s ahead for the U.S., as the country likely heads into a recession, constraining business investment and growth.
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