Social Marketing Spending to Jump 71% by 2023

What are CMOs looking for when they’re hiring (see pie chart) was just one of the areas covered in the extensive quarterly survey of 360 for-profit CMOs produced by Christine Moorman of Duke University, Duke’s Fuqua business school, Deloitte and the American Marketing Association.

The survey found reliance on analytics to make decisions has increased 30% and a record 23% said they can put numbers to the benefits of social media. That’s an increase from the 16% mark during the previous year. In addition social media is increasingly being handled in-house and spending on it is up 243% since 2009. In the next five years, the CMOs say, they will increase social media’s share of marketing spend 71%.

With the social push, are marketers missing the fundamentals? No, said 82%, who believe their digital and social activities have not drawn attention away from marketing basics.