CMO Council: Positive Outlook for Chief Marketers Globally; Salaries Up, Bonuses Tied to Performance
PALO ALTO, Calif. (Dec. 3, 2012)-Despite a varied and mixed outlook for the global economy, chief marketers report positive outlooks for their roles and functional areas. Nearly 70 percent received a salary or bonus in 2011, and 73 percent expect the same at the end of this year depending on the performance of their businesses, reports the Chief Marketing Officer (CMO) Council.
The compensation insights-which look at salary, bonus, commissions, options, equity, and other perks and privileges-are based on the CMO Council's sixth annual "State of Marketing" audit. A comprehensive 55-page report of this quantitative online research contains a detailed and diligent assessment of marketing planning, budget allocation, organizational development, and group operational effectiveness worldwide.
Reflecting a more competitive market, more than 50 percent of marketers increased 2012 budgets in contrast to 22 percent who have seen budget reductions; some 24 percent had no change in spend over 2011. Hiring new talent is anticipated by nearly 50 percent of marketers, while 19 percent expect to shed staff. Nearly 60 percent expect to make an agency change, with social marketing, web design, and PR firms topping the list of those to be cut; lack of innovation and value-added thinking is the primary reason for a switch.
The multi-regional benchmark report serves as a valuable resource and reference tool for the CMO Council's 6,000-plus members worldwide. These members control more than $300 billion in annual aggregated marketing spend. It is the most rigorous and comprehensive report of its kind in the marketing sector. Survey findings provide peer-level input and consensus on critical strategic marketing issues and priorities, as well as insights into actions and intentions in the year ahead.
This 2012 report gained input from more than 550 heads of marketing, communications, and customer engagement in North America, Europe, Middle East, Africa, Asia, and Latin America. Nearly 65 percent of these marketers report to the president, chief executive officer or chief operating officer, and a further 15 percent report to regional and business division chiefs. More than 30 percent of respondents represent companies with more than $1 billion in annual sales; 11 percent have between $500 million and $1 billion in sales; and another 30 percent come from companies with revenues between $50 million and $500 million. Nearly 60 percent of respondents globally held executive officer titles, with the balance at the director level.