An interesting new study, conducted by Duke University on behalf of the American Marketing Association, has been published, and is well worth reading.
It provides a number of insights into factors influencing market development, growth strategies, fluctuations in marketing budgets and growth in social media marketing expenditure.
Key takeaway: Traditional advertising expenditure (that is, offline advertising) is expected to fall by 137.5%. Online spend will also fall by 10.2%.
What will Chief Marketing Officers be directing their marketing budgets to instead?
Designing and implementing better customer experiences (+26.8%) and, more tellingly, designing and developing new services (+52.4%).