Thursday, March 4, 2010
The Snow is Melting and Marketers are Hiring Again
According to a February 2010 study by Duke University’s Fuqua School of Business -nearly half of the CMOS polled in its 2x a year marketing survey say they expect to hire new marketers during the next six months. Survey respondents were 612 marketing executives in small to large companies.
60% plan to hire new marketers in the next year and almost 90% over the next two years.
So expect an 8% hiring increase in the next six months, 13% during the next year, and 24% over the next two years.
But you’d better get your Internet and social media skills up. The areas of growth are marketers with skills related to Internet marketing, innovation and growth, as well as customer relationship and brand management.
And I have to admit, some marketers - at least here in the DC area - have changed their company branding to become Social Media Gurus. But are they?
I think they know more about the architecture than I do and they track recent developments which are sometimes written in a language that I can't follow.
But have they really figured out how to market effectively in the Social Media space? I'm still seeing a lot of consultant presentations on Creating a Social Media Policy. What does that tell you?
Overall B2B Product Marketing will be Up the Most and B2B Service Marketing is Up the Least. The good news for consultants is B2B services marketers report the highest expected increase in outsourced marketing activities. Translation: They need marketing help but aren't willing to hire permanent staff to do it. It's called hedging your bets.
Some key data from the CMO Survey –
Overall marketing budgets will increase by 5.9% this year. Traditional ad spending is still in the negative but the losses are smaller than a year ago.
How will the marketing budget be spent? Here's the breakdown Fuqua gave us.
Market penetration strategy – 44%
Market development strategy – 18%
Product service development strategy – 26%
Diversification – 13%
For the complete study go to www.cmosurvey.org