The 2025 CMO Survey Report in China reveals a "bottoming out and stabilization" in the macroeconomic confidence of marketing decision-makers, with optimism rising from 22% in 2024 to 28% in 2025. However, a "macro-level pessimism and micro-level optimism" trend persists, as 63% of respondents express confidence in their companies' future development despite cautious views on the overall economy.
企业经营呈现 "revenue pressure, but improving profitability" characteristics in 2025H1. Revenue growth has slowed down (62% of companies), while net profit growth has increased (57% of companies). This improvement is attributed to cost control and efficiency enhancement. B2B enterprises demonstrate greater resilience in this cycle. Growth strategies vary, with B2C focusing on "introducing new products/services in existing markets" and B2B shifting towards "developing new markets." The proportion of online sales continues to decline, indicating the waning红利 of e-commerce.
Marketing budgets are undergoing a profound structural transformation under pressure. While maintaining stable investment in "brand marketing," CMOs are reducing the proportion of "performance marketing." Budgets are shifting from "rented traffic" costs like live streaming and programmatic advertising to long-term assets such as "product R&D, marketing teams, and digital marketing."
Key findings include:
- Macroeconomic Confidence: 28% optimistic, 32% pessimistic, 40% neutral.
- Corporate Performance: 62% revenue growth, 57% net profit growth in 2025H1.
- Growth Strategies: B2C focuses on existing markets, B2B on new markets.
- Online Sales: 72% of companies have online sales contribution below 20%.
- Marketing Budgets: Stable for brand marketing, decreasing for performance marketing.
- Marketing Spending Shift: Increased investment in R&D, marketing teams, and digital marketing; decreased spending on live streaming and programmatic advertising.
- Digital Marketing Platforms: WeChat, Douyin, Xiaohongshu are the top three platforms with the highest penetration and investment intentions.
- Live Streaming: 40% of companies use live streaming, with an average contribution of 13% to revenue.
- AI Marketing: 53% of companies use AI tools, primarily for content creation and data/market analysis.
- ESG Marketing: 20% of companies integrate ESG into marketing activities, mainly through social公益.
- Enterprise Going Global: 50% of companies have overseas operations, with a shift towards "localization" and an increase in self-built channels.
- Top Overseas Markets: Southeast Asia, Europe, and North America.
- Brand Management: 90% of companies will maintain or increase brand building investment over the next three years, with brand building seen as the ultimate solution to break price wars and achieve profitable growth.
- Marketing Department Functions: The primary role of the marketing department has shifted from sales support to "enhancing brand influence." The most significant enhancements in the past three years have been in "research" and "product development."
- Future Marketing Talent: Strategic thinking, industry experience, and innovative thinking are the key skills sought after by marketing departments.
