{ "docId": "019dd923-5ca1-7489-b636-f02dab3225ad", "docSlug": "1dfb82eb5691d211", "documentTitle": "The CMO Survey Marketing in a Post Covid Era", "authorId": "EY", "authorName": "Deloitte", "documentKindSlug": "consulting-deck", "documentKindLabel": "Consulting deck", "sourceTypeSlug": "strategy_consulting", "sourceTypeLabel": "Strategy consulting", "presentationDate": null, "orientation": "landscape", "aspectRatio": 1.778, "pageNumber": 2, "pageCount": 82, "prevPage": 1, "nextPage": 3, "slideType": "executive_summary", "function": "summarize", "density": "overcrowded", "nDataPoints": 18, "notes": "This is a text-heavy executive summary slide from a recurring industry survey report.", "elementsJson": [ "paragraph" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-5ca1-7489-b636-f02dab3225ad/2", "deckHref": "/decks/019dd923-5ca1-7489-b636-f02dab3225ad", "deckJsonHref": "/decks/019dd923-5ca1-7489-b636-f02dab3225ad.json", "deckAnchorHref": "/decks/019dd923-5ca1-7489-b636-f02dab3225ad#slide-2", "components": [ { "bbox": null, "kind": "metric", "text": "Marketing budget growth: 10.4%", "attrs": null, "subkind": "primary", "toolName": "Quantification", "toolSlug": "quantification", "confidence": null, "componentId": "019dd951-c23c-719c-9e4a-2bc31e93104d", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.113, "w": 0.912, "x": 0.044, "y": 0.862 }, "kind": "paragraph", "text": "Marketing leaders were invited to attend board meetings (4.9 on a 7-point scale where 1=not at all, 7=very highly), with 63% of marketers reporting participation levels above the midpoint of the scale (5 or more). These numbers show that marketing has a reasonably strong seat at the table in many companies. The percentage of marketing leaders who report their companies would use their brands to take a stand on politically charged issues reached a CMO Survey high at 30.2% of companies up from the pre-Covid level of 18.5%. When asked about actions to reduce the negative impact of marketing-related activities on the ecological environment, levels show increases from last year but have not yet rebounded to pre-Covid levels, except in changes to the brand.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "2ec6d963-2f90-4753-b4de-d0762cca266c", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.045, "w": 0.912, "x": 0.044, "y": 0.137 }, "kind": "paragraph", "text": "This 29th Edition of The CMO Survey examines how marketers are approaching strategies, spending, and organization in a post-Covid environment. Results show that some aspects of marketing have changed quite a bit over the last three years, while other aspects that were changed dramatically during Covid have returned to pre-Covid levels.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "5746b7c5-192d-4879-9e42-69ed06dcc690", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.09, "w": 0.912, "x": 0.044, "y": 0.318 }, "kind": "paragraph", "text": "The pandemic's acceleration of digital marketing investments has pushed marketing budgets as a percent of company budgets up to the highest level in CMO Survey history. This level also corresponds to the growing importance of marketing in organizations, which has increased in more than half of all companies during the pandemic. Marketing budgets as a percent of revenues revert to pre-pandemic levels, reflecting the 12.3% growth in revenues over the last year from the 0.3% increase reported in February 2021 at the height of the pandemic.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "60a62b8e-e764-4982-b70f-e1ebab750c42", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.159, "w": 0.912, "x": 0.044, "y": 0.567 }, "kind": "paragraph", "text": "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%-7%. Marketing analytics is now being used in nearly half of all marketing decisions, rising from 38% just before the pandemic. Companies have also made progress achieving a contribution from marketing analytics to company performance. Marketers have invested in building their knowledge resources through the pandemic—nearly doubling investments in developing knowledge about how to do marketing and tripling investments in marketing research and intelligence. These investments have paid off with the quality of all marketing knowledge resources rising during this period. Market research has changed during the pandemic, with more companies studying online consumer behavior (63.3%) and using more video interviews (57.8%). Only 18% are doing more text analysis, which is somewhat surprising given its availability to most marketers.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "a764c185-a0f3-410b-a6a5-b011a6dfd814", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.136, "w": 0.912, "x": 0.044, "y": 0.726 }, "kind": "paragraph", "text": "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. Work from home is now prevalent across industries and economic sectors, with 57.5% of marketers reporting their teams working from home at least some of the time and 48.7% working from home all of the time. Overall, marketing leaders are confident in team productivity in both arrangements, with 50% reporting no change in worker productivity levels. Marketing leaders are more worried about company culture with more than a third reporting that working from home has weakened it. In accord with a weakened culture, 45% of marketing leaders report that young marketers are socialized less within the company.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "bb0f22dd-71a8-4e63-b305-8301d7fb4a8e", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.136, "w": 0.912, "x": 0.044, "y": 0.431 }, "kind": "paragraph", "text": "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. Brand, CRM, and innovation investments follow the same pattern—all growing, but reverting to levels closer to pre-Covid levels. Traditional advertising spending returns to negative growth after temporary lifts across the last two surveys, restarting a decade-long decline. 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. 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.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "ce6a78cf-01ae-429d-8ab4-2f9f94755741", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.113, "w": 0.912, "x": 0.044, "y": 0.205 }, "kind": "paragraph", "text": "Optimism for the U.S. 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, but down from 66.8 reported in February 2022. Customers' continue to prioritize product quality as they did throughout the pandemic, but low price has now emerged as a priority given inflationary pressures. The pandemic has changed the use of channels—marketers are using a larger number of channels (65%) and are using social channels to sell (41%). Only 10.5% of marketers report their former face-to-face channels are now all digital and 50% report their companies are returning to or opening up face-to-face channels.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "e73a2327-2db7-4805-b139-ae83d3279192", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.045, "w": 0.324, "x": 0.338, "y": 0.045 }, "kind": "title", "text": "The CMO Survey", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "287680f5-1d80-4cb5-bcf2-758b327d7e34", "frameworkName": null, "frameworkSlug": null } ], "metrics": [ { "metricRaw": "Marketing budget growth", "numberRaw": "10.4%", "numberKind": "percent", "actionTitle": null, "calloutText": null, "numberScale": null, "numberValue": 10.4, "metricFamily": "growth_rate", "numberCurrency": null } ], "tools": [ { "name": "Executive summary", "slug": "executive-summary", "agent": null, "layer": "slide", "matchId": "3d43f04b-f1ae-409b-b7d9-7abae4d0b9c9", "evidence": "The slide provides a summary of key findings from The CMO Survey.", "confidence": 0.9 } ], "frameworks": [], "arcBeats": [ { "to": 7, "from": 1, "beatId": "d218c289-16a1-4528-bab1-0e2632499057", "arcName": "The Sparkline", "arcSlug": "sparkline", "beatName": "Setup", "beatSlug": "setup", "evidence": "The document begins with an introduction to The CMO Survey, its methodology, and participants.", "position": 0, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null } ], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }