The results of the February 2011 CMO Survey are in and the news is unequivocally positive. 421 top marketers shared their views to create the following portrait of healthy economy-wide, firm, and job effects.
- Improved optimism about the overall U.S. economy. Respondents rated the U.S. economy at 63 on a scale of 0-100, up from a rating of 56 in August 2010. Nearly 69 percent of CMOs reported they were more optimistic about the U.S. economy, compared to 26 percent the previous quarter. In contrast, less optimistic CMOs fell to 6 percent, down from 35 percent the previous quarter. My own view is that because marketers have the most direct contact with customers and the best perspective of their future plans, these results are especially credible and bode well for economic recovery.
- Improved interactions with customers. All measures of customer and partner interactions are expected to see gains in the next 12 months. CMOs expect higher customer purchase volume, higher prices, more new customers entering the market, and better customer retention.
- Improved financial and marketing performance. All indicators are up and, perhaps more importantly, goals are even more aggressive.
- Improved job prospects. CMOs expect to hire 50 percent more marketing professionals over the next year, with the service consulting industry expected to post the largest gains with 82 percent growth!
Details about these four Is of economic recovery can be found on the results page. You can view these and other results at the overall level or cut the data by firm and industry results.
I’ll be blogging about more of the results over the next month. Share your own thoughts here.