Generally, CMOs (chief marketing officers) have a lot of clout in their firms. Of prime importance is CMO spending plans. For many firms, these plans set guidelines with regard to products, tactics, and targeted budgets.
To begin, take a look at these CMO-related posts:
Looking Ahead to 2020: CMO Spending Plans
Recently, Gartner conducted its 2019-2020 survey of hundreds of CMOs. It reviewed their spending plans. In summarizing its approach, Gartner notes:
“The purpose of this survey: To understand the marketing priorities and budget allocations of marketers. Why? To help companies benchmark, allocate spending and prioritize categories.”
“The research was done using a mixed methodology (online/CATI) from June 2019 through August 2019. Included were 430 respondents in the United States (47%), Canada (7%), France (10%), Germany (11%), and the United Kingdom (25%).”
“Respondents had to be involved in decisions pertaining to setting or influencing marketing strategy and planning. As well as involvement in aligning marketing budgets and resources. Overall, 83 percent of respondents came from firms with $1 billion or more in annual revenue. Furthermore, respondents involved a variety of industries. Such as financial services (67). High tech (40). Manufacturing (65). Consumer products (36). Media (39). Retail (69). Healthcare providers (36). IT and business services (37). And travel (41). As a result, the research focuses on 342 respondents from North America and the United Kingdom.”
Below, we present selected summary tables from the Gartner report. [Note: To access the free report, Gartner requires a brief sign-in.] Each table comes out of this report. For a better understanding, read the full report.
Top Three Indicators CMOs Use to Track the Business and Economic Climate
North American and U.K. Investment Across Marketing Channels
CMOs’ Most Important Metrics Across Four Categories
4 Replies to “CMO Spending Plans”
The chart that showed the “Top Three Indicators CMOs Use to Track the Business and Economic Climate” was very informative and the top three choices are ones that I would have guessed were very important factors. I was shocked that corporate profits with your industry was not higher on the list. I also would have liked to see a comparison chart between countries, I think that would have been interesting. I wonder if the top indicators would be different in different countries.
Not out of my mind, the second table is not given us a surprise, but show the internet power in nowadays business and marketing field. Top 3 channels which cost the most of companies’ budgets are all internet based, website, digital, and mobile. It makes us understand the trend of marketing battlefield: online, especially in mobile terminal internet. When smartphone is a standard facility in modern people’s life, mobile marketing will increasing its significant.
These charts are very informative. As a Marketing student, I understand that it is important to know where and how CMOs allocate and prioritize Marketing budget. Table 1 demonstrate that consumer spending is the top indicator that guide CMOs’ marketing strategies. As more and more consumers shop online, CMOs realize the importance of online Marketing. It comes no surprise that firms invest a lot on website, digital commerce, mobile marketing, etc.