Provides New Programs, Virtual Events, Agency Search Tools and Guidance as Chief Marketers Adjust Spend, Cut Media Buys, Optimize Resources and Focus on Digital and Ecommerce
“The Times They Are a-Changin” may be dated lyrics from a popular Bob Dylan album, but many in the digital marketing, advertising, agency, and media buying sectors are finding out just how much these words still resonate today. Chief marketers are facing unprecedented challenges and taking proactive steps to re-size and re-direct spend in an unpredictable business climate, reports the CMO Council.
The CMO Council, which represents some 16,000 marketing leaders in 10,000 companies controlling nearly $1 trillion in marketing spend, is rolling out a variety of thought leadership programs and information services to help its members with fundamental restructuring of market engagement. These offerings are designed to give insights, advice and peer-based inspiration to corporate marketing, finance and procurement decision makers; agencies; media channels; and the marketing supply chain ecosystem. They include:
According to a recent CMO Council audit of its members, most CMOs also feel relatively confident about their company’s ability to manage through the global economic downturn. Nearly 60 percent expressed moderate confidence in their company’s contingency, containment and recovery plans, while 31 percent are extremely confident.
However, many CMO Council members are facing up to some harsh budget realities. Nearly half of marketers surveyed by the CMO Council are bracing for marketing spending cuts. Another 26 percent don’t know what’s going to happen to their funding.
Compounding the challenge and complexity facing the marketing and media sectors are new indicators of spend constraints and resource reductions ahead, notes the CMO Council.
About the CMO Council
The Chief Marketing Officer (CMO) Council is the only global network of executives specifically dedicated to high-level knowledge exchange, thought leadership and personal relationship building among senior corporate marketing leaders and brand decision-makers across a wide range of global industries. The CMO Council's 16,000-plus members control approximately $1 trillion in aggregated annual marketing expenditures and run complex, distributed marketing and sales operations worldwide. In total, the CMO Council and its strategic interest communities include more than 65,000 global executives in more than 110 countries covering multiple industries, segments and markets. For more information, visit https://www.cmocouncil.org.