According to the Gartner CMO Spend Survey 2018-19, marketing technology (martech) now accounts for a whopping 29% of total marketing expense budgets. This shows marketers’ continued commitment to investing in the tools, talent and processes needed to compete effectively.
Overall marketing budgets in 2018-19 are relatively flat compared to last year. In that type of environment, when one investment area goes up, another must fall. Labor expenses fell from 28% in 2017-18 to 24% of marketing expense budgets in 2018-19.