The majority of CMOs (57%) say their budgets will increase over the next two to three years, and they are shifting their spending to advocacy and customer retention efforts from more traditional tactics, according to new research from The CMO Club.
The report, Marketing Is A (Buyer) Journey, Not A Destination, shows that half of CMOs are planning to allocate more of their budgets to marketing efforts across all stages of the buyer journey, as opposed to spending on individual channels.
Conducted in association with IBM, the study surveyed 100 CMO Club members on how they are investing their marketing budgets.
Other findings from the report include:
- More than half (53%) of respondents stated that generating higher revenue is the main reason for spreading their budgets across the entire customer journey;
- Content generation accounts for 13% of marketing budgets, the largest expenditure; and
- Traditional marketing still accounts for 52% of marketing budgets.
“Marketing dollars are in a seismic shift from channel to journey with feedback metrics that allow for rapid experimentation across campaigns and tactics,” said Pete Krainik, CEO and Founder of The CMO Club. “The domino effect of this change ripples through marketing campaigns, customer service, agency offerings, marketing approaches, marketing investments and metrics.”
Click here to download a copy of the full report.
