Fresh on the heels of a report finding that 4 in 10 global marketers around the world will be reallocating budgets to digital marketing (a report which itself came shortly after a US-based studyindicating the same trend), a new study from Accenture has emerged looking at the topic from the perspective of CMOs around the world. And the takeaway is much the same: digital marketing is going to get more of the overall marketing budget next year. About 2 in 3 respondents said they would be devoting at least 25% of their budgets to digital marketing next year, up from 46% who said they would allocate that much this year.
The reorganization of the marketing budget comes at a time when CMOs see big changes on the horizon. 7 in 10 respondents feel that the marketing function will fundamentally change over the next 5 years – with that figure higher among B2B2C (74%) than B2B-only (62%) companies.
CMOs may approach these changes with some amount of trepidation: separate results from the survey indicate that confidence in their preparedness is falling. That is, in 2012, 61% felt prepared, down from 66% in 2011. In 2012, CMOs also indicated more difficulty in improving the efficiency of their marketing operations and improving their workforce’s responsiveness to digital shifts and changing consumers.
In order to tackle those employee-relating challenges, CMOs say they’ll also be working on optimizing their internal skills, by emphasizing some areas over others. For example, next year 24% will dedicate 41-60% of their employees to digital marketing (up from 21% this year) and 26% will dedicate that share of their employee focus to customer analytics (also up from 21%).