Most marketers are generally pleased with the jobs their agency partners are doing as the economy continues its climb out of the worst recession in decades, according to a new survey from the CMO Council.
The survey of 600 senior marketing executives worldwide indicated 59 percent of the respondents have no intention of switching agencies and just over half rate the value and contributions of their agency partners as “pretty good” (35 percent) or “extremely valuable” (17 percent).
Ad agencies in particular seem to be getting the job done as far as their clients are concerned — just 8 percent of the marketers expecting to make a change cited their ad shops as a target. Seventeen percent of those marketers said they were looking to switch Web design and development firms and 14 percent cited public relations practices.
The easing of the recession is also taking some pressure off marketing budgets, per the survey, with three-quarters of respondents saying their budgets will either increase of stay the same. And not a lot of big headcount reductions are expected (as occurred in the past couple of years), with 71 percent of respondents reporting they expect no layoffs at their organizations. Another 22 percent say any layoffs will amount to less than 10 percent of the workforces in their marketing organizations.
In terms of new marketing efforts, dollars will be mostly directed towards programs that drive top-line growth, including lead generation and qualification and customer retention and monetization, according to the survey. Corporate branding and identity-building programs will also be a high priority, as well as new product launches.
The CMO Council said that almost 63 percent of respondents indicated that they report directly to the CEO, president or COO, while another 21 percent said they were accountable to a regional vice president, general manager or division/business group head.