This is part one of a two-part series exploring key findings and insights from the Gartner CMO Spend Survey 2017-18. Read part two.
Read latest survey findings: 8 Top Findings in Gartner CMO Spend Survey 2018-19
Across the many key findings from this year’s Gartner CMO Spend Survey, it’s clear that for CMOs and marketing leaders, it’s show time.
It’s time to show marketing’s financial management credentials.
It’s time to show that marketing can deal with financial constraints.
It’s time to assume accountability for business performance and show that marketing can grow the business while making hard choices.
After three consecutive years of increases, marketing budget growth stalled in 2017-2018. Budgets slipped from a peak of 12.1% of company revenue in 2016 to 11.3% in 2017, according to the Gartner CMO Spend Survey 2017-2018. Marketing leaders must now justify past budget commitments and show the returns they deliver to ensure the future fiscal health of marketing.
“As CMOs survey the landscape, one thing is clear — previous budget increases have come with weighty expectations, some of which have yet to be met,” says Ewan McIntyre, VP Analyst, Gartner for Marketers.