CFOs back marketing as 31% say they will raise budgets over the next year

A new global study has suggested chief financial officers are planning on giving their backing to marketing.

According to a report by American Express and Institutional Investor, which surveyed 100 of the most senior finance executives at major brands, 31% plan to increase their investment in advertising, marketing and PR over the next 12 months, with 57% planning to maintain previous levels of investment.

In fact, only 12% of the CFOs questioned – of which more than half work for companies that generate over $1bn in annual turnover – said they planned to cut their investment in marketing.

However, despite seemingly giving marketing their financial backing, there’s a realisation among CFOs that marketers are becoming harder to maintain.  An overwhelming 97% of those questioned answered yes, when asked if they were currently experiencing difficulties with hiring or retaining marketing staff.

Bron en volledig bericht: MarketingWeek