According to a new Epsilon CMO Survey, Chief Marketing Officers at many of the biggest brands in the nation are seeing a major shift in the marketing landscape. 63% of the 175 marketing executives surveyed see an increase in their spending on interactive/digital marketing while 59% report a decrease in traditional marketing spend.
65% of CMOs say that the money spent on advertising as a whole will decrease due to the current economy. In contrast, 94% of CMOs and marketing executives agreed with the statement, 'A tough economic period is precisely the time when marketing plays a key role.'
When asked how their firm determines their target market for each channel:
50% stated that they use data driven marketing techniques
31% of respondents agreed that they use sophisticated modeling tools to analyze existing customer behavioral, preference and demographic data
19% said that they analyze past purchase behavior
28% said they made rough estimates based on past experience
