According to Gartner’s 2023 CMO Spend and Strategy Survey, 71% of CMOs feel that they lack the necessary budget to execute their marketing strategies effectively due to economic pressures, rising costs, and shifting business priorities, even though there has been an increase in investment in marketing technology1.
According to Gartner’s 2023 survey, what percentage of CMOs feel they lack the necessary budget for their marketing strategy?
A) 50%
B) 71%
C) 85%
D) 95%
Which sector saw the largest increase in investment from 2022, according?
A) Paid media
B) Marketing technology
C) Labor
D) Agencies
What is the top digital channel receiving increased investment this year?
A) Search advertising
B) Digital video advertising
C) Social advertising
D) Influencer marketing
Bottom Line:
A key takeaway for marketers from this article is the increasing investment in marketing technology, likely influenced by the rise of generative artificial intelligence. However, they should also note the pressure to cut martech due to falling utilization rates, and the need to balance this with the risk of reduced investment in labor1.
Answers to the multiple-choice questions:
B) 71%
B) Marketing technology
C) Social advertising
Article link:
https://www.marketingdive.com/news/cmos-lack-budget-execute-marketing-strategy-2023-gartner/650948/