Thread by @Gartner_inc

#GartnerMKTG Happening now: The State of Marketing Spending and Strategy — Insights From Gartner’s CMO Spend Survey. Presented by Ewan McIntyre, Chief of Research and Vice President Analyst, Gartner.

Follow along here for key insights and updates from the session.

3 in 4 CMOs reported increased budgets compared to last year. In this session, Ewan McIntyre, Chief of Research and Vice President Analyst at Gartner, shares the key findings coming out of the annual Gartner CMO Spend Survey. #GartnerMKTG

“Marketing budgets have climbed to 9.5% of total company revenue in 2022, an increase from 6.4% in 2021.” #GartnerMKTG

McIntyre explained that while marketing budgets have increased, they have not reached pre-pandemic levels. #GartnerMKTG

“Marketing budgets have climbed to 9.5% of total company revenue in 2022, an increase from 6.4% in 2021.” #GartnerMKTG

“70% of respondents reported their budgets had increased this year, however they’re still down from the average budget between 2018 and 2020 of 10.9%.” #GartnerMKTG

“Average marketing spending has increased across almost all of the industries surveyed with the exception of consumer goods.” #GartnerMKTG

While 8 of 9 industries reported increases in marketing budgets, consumer goods marketing budgets provide a “canary in a coal mine scenario” for other industries, according to new research released at #GartnerMKTG.

“CMOs are not particularly concerned about #inflation. The majority thought that increasing costs would have a positive impact on their business.” #GartnerMKTG

“CMOs have made the shift from digital-first to hybrid multichannel strategies. The survey shows they are dedicating the largest portion of their budget (56%) to online channels and a more equitable split (44%) to offline channels.”

"Back to basics approach, but why?" #GartnerMKTG

“Marketing is experiencing a historic surge in talent demand in 2022, with the majority of CMOs reporting that their teams lack the capabilities required to deliver their strategy." #GartnerMKTG

In summary:

- Budgets are on the up, but uncertainty lies in the future.
- Many CMOs are confident that they’re driving demonstrable business value.
- They don’t perceive that inflationary challenges will harm their strategy, but their optimism may be misplaced.

- Scenario planning will help CMOs deal with the positive position in the immediate term, while anticipating future bumps in the road.
- Digital dominates the channel mix, but offline has started to fight back, with post-lockdown event investment boost.

- Digital is no longer the differentiator, as it becomes the marketing norm. CMOs must seek strategic advantage through customer journey orchestration.
- Balancing brand & performance spend has never been easy. Data implies 50/50 split, but this is far from a balanced portfolio.

- CMOs are confident about brand capabilities, but there are gaps in other important competencies that will help achieve business goals.

- Respondents to the survey feel stuck in tactical limbo.
- Resource and capability constraints will be a constant theme if investment in strategic vision is not a priority.

Looking for an action plan? We suggest the following:

To succeed in the current volatile business environment, CMOs must anticipate the future and create suitable action plans to stay ahead of market disruption. Download the Marketing Scenario Planning Ignition Guide to get started: gtnr.it/3ySZBYh #GartnerMKTG