This is part two of a two-part series exploring key findings and insights from the Gartner CMO Spend Survey 2017-2018. Read part one.
Read latest survey findings: 8 Top Findings in Gartner CMO Spend Survey 2018-19
Marketing’s accountability for business performance comes with both acute challenges and changes across a variety of budget areas. Changes to marketing technology (martech) spending year over year are a case in point. Spend on marketing technology was 27% of the overall budget in 2016-2017, but is down 15% from last year. CMOs pulled back from last year’s high spending amid concerns about marketing’s ability to effectively acquire and manage technology.
“Pressure from CFOs and CIOs means that now, more than ever, CMOs need to improve their martech capabilities and prove their technology chops,” says Ewan McIntyre, VP Analyst, Gartner for Marketers.