More than half of the marketers surveyed say they expect budgets to be cut, which, of course, has tendency to sharpen one’s focus. So what do they consider “most important?”
1. Customer satisfaction (79%)
2. Customer retention (76%)
3. Marketing ROI (65%)
4. Brand loyalty (61%)
Other concepts jumped in importance compared with last year, led by credit availability, (went from 9% to 35%), housing markets (from 15% to 30%), and my personal favorite, alternative energy (from 31% to 41%).
Additionally, the execs remain optimistic that R&D spending and innovation initiatives will remain the same (75%) or even increase (21%). Marketing research is also expected to be level or increase by two-thirds.
So where will you focus in 2009?
In my previous Brand Contact post, "Silos," both examples speak right to the top 4 list. No. 1, customer service, ought to be an airline industry marketing priority (right after staying in business). My banking example hit Nos. 2, 3 and 4 on the CMO list, showing profit gains of breaking down internal silos and focusing attention on customers and retention initiatives.
The study was conducted online among MENG members, between Nobv. 15 and Dec. 2 of 2008, by Anderson Analytics. More than 35% of the membership responded. This is the group’s second annual marketing trends survey.
Read the entire article here at: http://adage.com/cmostrategy/article?article_id=133521
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Paul Hydzik grows brand value. As a brand marketer and award-winning creative leader, Paul has more than 15 years of experience driving business success from start-ups to blue chips. His strategic resume covers all aspects of B2B and B2C branding from go-to-market to consumer insight to identity development and all forms of marketing communication.
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