“By 2017 the CMO will spend more on IT than the CIO.”
Digital marketing is critical to business growth. The exponentially increasing organizational investment required by digital marketing begs for a coherent digital strategy – that must be held accountable to driving success. A 2014 Gartner survey revealed that in 80+% of the top 250 marketers, the CMO relies on a “Chief Marketing Technologist” (CMT) to recommend a digital strategy. The CMT role is rarely staffed in a small or midsize business. As you review other key findings in this survey below, consider reaching out to iDimension to find out how we can bridge the gap between marketing & IT to help you manage your digital strategy, and hold it accountable to success.
Hold Your Digital Strategy Accountable
In a 2014 Gartner survey of the top 250 marketers:
- 22% of companies are reducing their spend on traditional sales support activities to fund digital marketing.
- Digital marketers spend almost as much to keep buyers (45%) as they to do to gain new ones (55%).
- Digital marketing as a % of revenue increased 20% from 2012 to 2013, and was projected to grow 10% in 2014.
- Digital marketing spend was projected to be 3.3% of total revenue.
- Top 4 areas of digital marketing budget increase: digital advertising (12.2%), corporate website (10.3%), digital commerce (9.6%), social & mobile marketing (9.5%).
- 80% of marketers have their own capital budgets.
- 41% of marketing organizations have their own P&L for revenue from digital channels.
Source: http://www.gartner.com/marketing/digital/research/info/digital-marketing-spend.jsp