An overwhelming 81% of marketing head honchos from across the globe are adamant they can push top-line growth and increase market share in 2014.
Of the 525 chief marketers surveyed by the CMO Council, 54% admitted there would be budget increases within their department, while 27% said there would be no change in the pot of money they had been assigned.
There is good news for recruitment as 55% have said they will be bringing in more staff, however 22% are expecting reductions. Only 10% think their own jobs are on the line this year.
Salary and bonus bump
The State of Marketing study also revealed that 83% of respondents expect a salary increase or bonus in the next fiscal year based on their performance, and the fact that 75% received one in the past year.
Some 30% of CMOs consider themselves equal to other C-level executives, which Donovan Neale-May, executive director of the CMO Council is putting down to companies renewing their focus on the customer.
“A big benefit to marketers is the growing level of collaboration and interaction with functional heads and line-of-business leaders.
“This is giving marketing more weight in strategic decision-making and also ensuring organizational alignment around the customer experience given marketing’s increasing ownership of customer data and insight.”
Disparity among chief executives
Unfortunately 45% feel that C-level equality only happens on some occasions, whereas 20% believe they do not hold the same status and influence as their peers at all.
Marketers were most likely to partner and interact with chief financial officers (58%), chief information officers (53%) and chief sales officers (51%). However, chief HR officers and chief operating officers (40%) are coming to the fore.
Agencies will want to be on their toes as a lack of business results, value-added thinking and uninspired creative are behind 66% of CMOs already planning to make one or more changes to their roster in 2014.