February 16, 2016 | Written by: Zeynep Tolon
Last week, we held a very interesting chat with marketing experts in our Think Leaders community. Liz Miller from CMO Council, Sandra Zoratti from the CMO Club and Jane Hiscock from Farland Group joined the chat as well as Carolyn Baird, from the IBM Institute for Business Value. Many questions were answered, about marketing trends, CMO’s biggest ally in the c-suite and best ways to keep a brand relevant.
- One question that came up was about whether CMOs are seeing budget increases and if so, where are they placing those dollars? First of all – it seems that marketing budgets are increasing.
- 8.7% increase in US marketing budgets expected in next 12 months (CMO Survey)
- 57% of respondents in CMO Club survey indicated their budgets will increase (CMO Club)
- 61% of respondents indicated that their marketing budget will increase in 2016 (Gartner)
Here’s a quick survey of 3 recent analyses and what their findings say about priority investment areas:
- IBM’s own research with the CMO Club in 2015 found that budgets were pretty evenly divided various options but content came up on top:
- Duke University’s bi-annual CMO Survey is another great resource. The latest one, done in August, found that mobile marketing spend will more than double in the next 3 years to be 16% of budgets. Also analytics will rise to become 12% of overall marketing budget.
- Our subject matter experts on the chat also pointed out the importance of marketing rising. Sandra Zoratti mentioned that the US Marines are getting a CMO and Liz Miller added that they are also seeing a resurgence in investment into MPM (Marketing Performance Measurement) programs.
In short – Content, Mobile and Analytics has taken top place in terms of allocating marketing spend. Would love to hear from more marketers on this forum – where are your budgets going? Where do you expect to spend your marketing dollars in 2016?