The 2013 CMO Survey: Marketing and Social Media Highlights

The marketing and social media highlights of The 2013 CMO Survey have revealed quite a few intriguing things to look forward to.

In 2008, The CMO Survey was created in order to measure the trends and direction of marketing across all industries twice a year. The most recent publication, February 2013, showcases an upward trend in the use, measurement and importance of social media marketing.

Below are a few of the highlights (both in regards to social media and marketing in general) from the most recent report and some insights into what these findings mean.

A New Marketing Focus

There were a few key takeaways outside of social media that are important to note. One common theme prevailed throughout the entire report: there is a shift in the approach marketers are taking in order to achieve their goals.

There was a 28% increase in the emphasis on a diversification strategy. Furthermore, the most important strategy for marketers in the coming year is to increase organic growth. This could mean and helps explain the major upward shift in the importance of social media marketing. Organic growth requires wide, viral reach, and few if any other marketing techniques offer it in the same way as social.

Marketers in all sectors except for B2B-Product (B2C-Product/Service, B2B-Service) plan to increase marketing spending in the coming year. And, perhaps the most important finding with regards to spending, is that spending on traditional marketing and advertising is plummeting.

The Importance of Social Media

The CMO Survey introduced some figures that were as shocking as they are important (particularly for social media marketers). For marketers all over the world, in some of the largest companies on the planet and a wide array of verticals, social media is essential. In fact, it is going to be a cornerstone of effective marketing strategies in a very short timeframe.

Within five years, social media is expected to be, on average, 22% of marketing budgets. In fact, right now social media accounts for 8% of marketing spending and in the next twelve months, it is expected that social media will account for nearly 12% of marketing budgets.

What’s more, marketers are finally starting to understand the importance of a diverse return on investment (ROI) measurement system. There is such a high return from a social media marketing program, yet there has, to date, been a focus solely on financial returns. While these are important, it is crucial that marketers understand that they are only one of the many types of returns offered. Below is a breakdown of the measurement criteria for social media, and how those criteria are shifting.

These are just a few of the impressive highlights from the report. To download a full version of the report, click here. Give it a read and see if there is anything that stands out to you!

Which of these findings do you find most shocking/surprising/important? Tell us in the comments below or on Twitter!