At BIA/Kelsey’s National Brands, Local Marketing conference March 25-27 in Dallas, we’ll be hearing a lot of discussion around where spending is going for national marketers. Based on a survey just released by Duke University’s Prof. Christine Moorman the news is really good!
Overall, CMOs are showing their most positive outlook about the overall U.S. economy in five years with an average optimism rating of 69.9 percent in Feb 2015 versus 47.7 percent in Feb 2009 (0 percent is least and 100 per cent most optimistic).
CMOs plan to increase their spending by 8.7 percent in 2015 based on their expectations for an improving economy. When you break down that spending, digital spending will be up 14.7 percent compared to a 1.1 percent decline in traditional advertising. That increased digital spending will occur less in B2C product categories (2 percent increase) but we’ll see the digital spending rate double in 2015 versus 2014 overall and in the B2B product, B2B services and B2C services categories.
The CMO survey included results from 288 top U.S. marketers at Fortune 1000, Forbes Top 200, and top marketers who are AMA Members or Duke University Alumni and Friends (10.9% response rate).
Check out the CMO survey results in detail but if you really want to know the story behind the numbers, we’ll hope to see you in Dallas where you can hear and meet the speakers responsible for directing this increased spending into digital advertising and marketing.
Rick Ducey is the managing director for BIA/Kelsey. He is an expert in digital media innovations, competitive strategies, new product development and new business models, including digital ecosystem collaboration strategies.
Ducey oversees the firm's consulting, research and advisory services areas. He is also the program director for BIA/Kelsey's Video Local Media advisory service. This program provides coverage and analysis of how online, mobile and broadcast video technologies, competition, shifting consumer demographics and media usage trends are driving changes in the media ecosystem and SMBs and other advertisers can be successful in the new environment. Ducey assists clients with their business planning and revenue models, strategic research, market assessment, and designing and implementing digital strategies. He is also a cofounder of SpectraRep, one of BIA�s companies, which sells a patent-pending IP-based alerting system that he co-invented.
Prior to joining BIA in 2000, Ducey was senior vice president of NAB's Research and Information Group. In this position, he was in charge of the association�s new technology assessment, audience and policy research, strategic planning and information systems, including all Internet operations, and he also developed publications and seminars.
Before joining NAB in 1983, Ducey was a faculty member in the Department of Telecommunication at Michigan State University where he taught and did research in the areas of emerging telecommunication technologies and strategic market research. He also served on the graduate management faculties of George Mason University and George Washington University in telecommunications management and the University of Maryland, where he taught strategic market management and research methodologies. Ducey was selected as the Spring 2011 Shapiro Fellow at George Washington University where he teaches entrepreneurship in new media. He has published a number of research articles and papers in these areas and serves on editorial boards of leading scholarly journals in the communications field. He has also worked at radio stations WSOQ-AM/WEZG-FM and Upstate Cablevision in North Syracuse, New York.
Ducey received his Ph.D. from Michigan State University, M.S. from Syracuse University and B.A. from the University of Massachusetts at Amherst.
