Business & Economy
10:00 am
Wed September 7, 2011

Chief Marketing Officers Spend on Social Media

Marketing executives say they’re hiring and they’re increasing social media budgets.

Chief Marketing Officers questioned for the bi-annual C-M-O Survey, say they plan on spending about 10-percent of their budgets on social media.  That’s an increase of three-percent.  Christine Moorman is a professor at Duke’s Fuqua School of Business and director of The C-M-O Survey.  She says the increase shows companies are trying to figure out how to integrate social media with the rest of their strategy.

Christine Moorman:  "And so I think companies are continuing to learn how to use social media effectively to acquire customers, to retain customers and to build strong and long customer relationships."

Moorman says despite survey results showing companies’ lack of overall hiring – top marketing officers say they’ll increase their marketing staff by about seven percent over the next 12 months.