Marketing budgets have dropped to 7.7% of overall company revenue in 2024

A pile of £20 notes.

Average marketing budgets have fallen to 7.7% of overall company revenue, down from 9.1% in 2023, according to a Gartner survey of 395 CMOs and marketing leaders.

This is according to the annual Gartner 2024 CMO Spend Survey, which was conducted from February to March 2024. Survey respondents were CMOs and marketing leaders in North America and Northern and Western Europe across 10 different industries, company sizes and revenue, with the vast majority of respondents reporting...

Number of CMOs responsible for sales enablement has doubled over the past year 

Seismic, a specialist in enablement, has found that the number of CMOs responsible for sales enablement in EMEA has doubled over the past year, jumping from 10% in 2022 to 19% in 2023.  

The research, conducted in collaboration with the martech and sales enablement educator LXA, identifies a trend concerning a shift in sales enablement accountability as more organisations assign ownership to the marketing function. This presents a promising sign for overcoming operational siloes...

Gartner’s 2024 CMO predictions: The double-edged sword of generative AI

Analyst firm Gartner has issued its forecast for what marketers need to watch out for in 2024 – and it will come as no surprise that generative AI features heavily. Yet a lack of consumer trust is the pervading theme.

By 2025, Gartner predicts that a ‘perceived decay’ in the quality of social media platforms will see 50% of consumers significantly limit – or abandon altogether – their interactions with social media. Generative AI is part of the reasons why; more than...

Capgemini’s CMO playbook for generative AI sees rapidly expanding ecosystem

Organisations who are already investing in generative AI for marketing are dedicating almost two thirds of their budget towards the technology, according to new figures from Capgemini.

62% of marketing budgets are going on generative AI, according to a poll of 1,800 global marketing executives at organisations with annual revenues of more than $1 billion USD. The same percentage of respondents believe that generative AI will ‘augment human creativity, enhancing unique human...

55% of marketers report managing more than 1,000 assets and five channels 

Enterprise CMS Storyblok's survey of 500 senior marketers has revealed that marketers are increasingly becoming overwhelmed by the volume of assets and communications channels they need to manage. 

The increasing complexity of marketing is leading to more mistakes and time lost to admin tasks. For example, 37% of marketers say they spend between 5-10 hours each month simply managing their assets, with 27% saying they have lost more than 10 hours to this routine...

Almost half of CMOs feel data hinders creativity

A team planning with post-it notes.

42% of CMOs believe data is hindering creativity among marketing teams, according to a new report by Adverity, a data and analytics platform for marketing, sales and e-commerce teams.

The report, entitled 'Data, People, and Culture: The Evolving Role of the Modern CMO', surveyed 300 CMOs across the US, UK, and DACH region (Germany, Austria, and Switzerland) from small to midsize businesses, to better understand how the role of the CMO is changing amid the growing digitalization of...

Lack of Trust in marketing data – What does this mean for the CMO?

Earlier this month Adverity launched its latest research project, surveying 964 marketers and marketing data analysts to understand their major challenges, strategic priorities, and pain points.

Shockingly, the research found that over a third (34%) of CMOs don’t trust their marketing data, this rises to over 50% of CTOs / CDOs. Meanwhile, the biggest pain point for both marketers and data analysts (42%) is the time it takes to manually wrangle data. Whilst there is not...

Three quarters of CMOs ‘are contributing to business growth’

A man looking at a computer screen displaying a graph.

CMOs’ responsibilities are shifting, with around three quarters of them now responsible for contributing to business growth (76%) and data and technology (74%). 

This is according to the latest Capgemini Research Institute report, ‘A new playbook for chief marketing officers: Why CMOs should enable real-time marketing to drive sustained growth’. 

Despite the CMO’s new data-focused responsibilities, only 12% of marketers have the requisite data access,...

CIM: Vast majority of marketers optimistic for the industry post-pandemic

Busy square during the pandemic with people wearing PPE

As many as 71% of marketers believe that the COVID-19 pandemic has positively affected perceptions of their brands, according to a new report from the Chartered Institute of Marketing (CIM).

The CMO 50 explored the views of 50 of the UK’s top marketers with regard to the long-term future of the marketing industry, finding that the vast majority of CMOs and directors are optimistic but call for stricter government regulations moving forward.

Overall, spirits seemed high...

The CMO and CISO: Assessing the evolving intersection

The world has changed – from Betamax to Netflix, HMV to Spotify, and everything to mobile – and the relentless pace of transformation has put us in a constant state of flux. In a bid to keep up, businesses have increased their focus on digital transformation, propelling the chief information security officer (CISO) from the IT periphery to the very heart of decision-making. 

In parallel, technological evolution has driven a change in customer behaviour. If the purchasing of...