According to Gartner’s annual CMO Spend Survey, chief marketing officers and their organizations are set to increase their marketing spend to 12 percent of company revenue—a seemingly modest, but certainly significant climb over the 11 percent indicated in 2016.
One influencing factor behind this increase in marketing spend is the sharpening focus on and preference for digital marketing solutions. Such technologies are coming to command a significant share of marketing budgets, outstripping paid-media and rivaling staff expenditures.
Under such circumstances, CMOs wield more power—and more responsibility. It falls to them to clearly deliver, in cooperation with their organizations, the quantifiable results that technology so often promises.
Under these shifting conditions, CMOs and the organizations they represent must be ready to adapt accordingly. Fortunately, savvy marketers can intelligently manage their budgets, spur growth across silos, and demonstrate ROI to their stakeholders by setting smart, measurable goals and practicing care in recruiting proven talent to guide their organizations to success.
Here, we’re just scratching the surface. Read my take on what organizations can do to work with 2017’s biggest marketing trends over at Entrepreneur: Put Your Money Where Your Marketing Is.
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