Palo Alto, Calif.—More than half of marketers (54%) increased their marketing budgets this year, while 22% had budget reductions and 24% kept budgets flat, according to a report by the Chief Marketing Officer Council.
The CMO Council's sixth annual “State of Marketing” report was based on an online survey that drew responses from more than 550 global marketing executives.
The survey revealed that top-line revenue growth and market-share gains are the chief mandates senior management set for CMOs, while 82% of respondents said they believe these goals are attainable.
The report also found that nearly half of respondents plan to hire staff next year, and 60% expect to switch ad agencies.
Increasing collaboration with sales or channel partners is the most important professional goal for marketers next year, according to the survey.