New CMO Survey Shows Marketers Are Increasing Spending On Digital And DE&I Efforts

Plus: Honesty, Transparency, And Data Collection: Improving Customer Trust And Loyalty

Greetings,

As we near the first anniversary of the Covid-19 pandemic, 72.2% of marketing leaders say their team's work has become more important to their organizations over the past year, according to the latest edition of The CMO Survey. As consumers have increasingly sought out digital experiences, online sales have seen an uptick, jumping 43.7% year-over-year to now comprise 19.4% of overall sales. In her story about The CMO Survey, Forbes Contributor Christine Moorman points out that while spending had decreased 3.9% since last year, respondents expect it will grow by 14.3% in the next 12 months. Meanwhile, total digital marketing spend has increased 11.5% and digital budgets are expected to rise another 10.1% by this time next year.

Diversity, equity and inclusion are also playing a more prominent role in marketing. According to The CMO Survey, marketers are spending 8.8% more on DE&I, but just 5.6% of companies say developing inclusive approaches to marketing decision making is something they're prioritizing "very highly." Brands are also becoming more open to taking a stand on political issues, with 27.7% saying they think it's appropriate to do so, a 49.7% jump from last year.

Stay well and stay warm—unless you're like me and prefer the snow.

Marty

Creativity

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CMO Profile

"The way that you really connect with consumers and they connect with your brand is when you understand their heart—what motivates them, what scares them. And so for us, it’s really about how do we unlock the potential of our teams to really tap into not only the art of what communications and marketing can be but the heart of it—what their consumers need and what they want—and marrying that with the science of it."

Janice Tennant

Chief Marketing Officer, Merrell

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