Some of the world's leading CMOs plan to spend more money on digital marketing in the near future, but those same CMOs plan on being less dependent on agencies as they build in-house digital marketing teams.
Nearly half of the CMOs surveyed in the CMO Council's State of Marketing report said they are investing in digital demand generation and online relationship building, DMNews reports. The study of more than 500 chief marketing officers also found that 62 percent of executives are relying more on consumer data for segmentation and targeting.
Data is one key reason why companies are building their own digital teams. The question of who owns campaign data -- agencies or brands -- has been debated for years. But if a brand builds its own internal team to develop interactive campaigns, the brand controls all of the data, eliminating any confusion.
When it comes to building these digital teams, 59 percent of CMOs plan on training additional staff, while 40 percent will add or expand their digital agency support. A little more than one third (36 percent) will bring in new talent. In terms of spending, 65 percent of the CMOs are looking at increasing social media marketing, while 44 percent plan to spend more on online media channels.
