Innovation is alive and well in marketing. Chief marketing officers (CMOs) indicate that 16% of their budgets are allocated to innovation, and nearly two-thirds expect this number to grow next year. However, marketing leaders rated themselves as relatively low in innovation maturity despite having high ambitions for their ability to innovate. Where CMOs plan to spend their budgets indicates where ambition and ability diverge.
This year’s Gartner CMO Spend Survey polled over 600 marketing leaders across industries in North America and the U.K. to help companies benchmark their spend and prioritize activities by better understanding marketing priorities and budget allocations. “Marketing leaders must demonstrate the business value of their efforts amid uncertain times,” says Ewan McIntyre, VP Analyst, Gartner for Marketers, and CMO Spend Survey lead author.
Read these eight key findings from the 2018-19 survey to help you set the right course for 2019 and beyond.