Traditional brand positioning, advertising, losing effectiveness, say CMOs

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marketing_small.jpgADOTAS — Marketing executives are unhappy, but not as unhappy as they were before.

A new survey finds that 59 percent of marketers were less optimistic about the economy than they had been one quarter before. But there is a bright side, eight months ago, 77 percent of were less optimistic, according to the “CMO Survery” by Duke University’s Fuqua School of Business and the American Marketing Association.

“While marketers in general remain unexcited about the economic situation, it is encouraging to at least see that pessimism is not increasing among the marketing community,” Christine Moorman, of Fuqua, told eMarketer. “This could either indicate that marketers think the worst times are behind us, or they have simply adjusted to operating in an adverse environment.”

The marketers expect marketing spending to remain almost flat this year, growing by only 0.5 percent over the next 12 months. They anticipate a more than 7 percent decrease in traditional advertising and increases of about 10 percent in both Internet marketing and new product introductions.

CMOs are turning to new and often unproven strategies that focus on the Internet, partnerships, new markets, and new products and services to keep their companies moving forward. Business-to-consumer marketers are making even more significant shifts to the Internet, for both product and service advertising, and 63 percent believed traditional brand positioning and advertising were losing their effectiveness.

Many felt traditional advertising was “broken.” Looking ahead to this year’s marketing priorities, the CMOs ranked greater marketing accountability as most important, followed by finding a better way to manage brands across multiple platforms.

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3 COMMENTS

  1. Traditional advertising must have declined quite a bit worldwide, but in developing countries they still continue to be predominant mediums. BTL advertising agencies still struggle to sustain their mind share to their clients’/ marketers. It is estimated to take at least another 3-4 years of aggressive marketing to change consumer behaviors towards non-traditional forms of advertising.

  2. To be accountable, marketers need to ensure measurement of all aspects of a marketing campaign in order calculate the ROI. And that is particularly difficult if KPIs aren’t established based on hard, verifiable data. This is more-or-less the approach that other C-level execs take to determine their ROI, so why shouldn’t marketing follow suit? There is a strong relationship between marketing and corporate accountability ( http://www.buysafemedia.com/index.php?mode=blog&blog=1 ). A group of industry associations has joined forces to raise awareness about the value of media auditing. Their campagin is called Buy Safe Media (www.buysafemedia.com).

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