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CMO spending on paid media soars at the expense of talent, tech and agencies

Sword and the Script | B2B

So where are CMOs spending? According to the survey: “Digital dominates a growing share of paid media spend, taking 57.1% I’m struck by the graphic of this spend (see below – they abbreviated X-axis exentuates the point). When you need results in a hurry, CMOs spend money on paid media.

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Martech spending falls to lowest level in 10 years

Martech

Marketing technology spending fell this year, reaching its lowest level in a decade, according to a new Gartner report. in 2023, according to Gartner’s 2024 CMO Spend Survey. Spending also fell for staff and agencies, while paid media grew. Digital leads paid media. Martech is now getting 23.8% It went from 25.6%

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Report: Marketers to Spend Less on Customer Initiatives as Budgets Fall

KoMarketing Associates

Statistics derived from the survey indicated that marketing spend on brand building, the customer experience , and CRM is projected to fall by about 50%, compared to data from last year’s report. The majority of marketers (69.9%) now spend most of their time managing the present, rather than just 30.1% in February 2022.

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CTV ad spend is growing, but not like retail media

Martech

Connected TV (CTV) ad spend is expected to reach $25.9 year-over-year, a new study from WARC Media found. Although it’s a promising sign for CTV, it falls short of the growth seen in retail media networks (RMNs) and YouTube. CTV vs. retail media. CTV hit this mark in 2019, while retail media did so in 2015.

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Video ad spend expected to rise 16%, surpassing linear TV this year

Martech

digital video ad spend is expected to hit $63 billion in 2024, a 16% increase from the previous year, according to projections from IAB’s “2024 Digital Ad Spend & Strategy Report.” 2024 is projected to be the first year where more spend is committed to digital video than linear TV. Why we care. billion, up 12% YoY.

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60% of Digital Marketing Spend Now Goes Toward Paid Channels

KoMarketing Associates

Gartner recently published “The State of Marketing Budget and Strategy 2022” report, and statistics suggested that the majority of digital marketing spend (60%) is now allocated to paid channels. Specifically, 10.1% goes toward social advertising, while 9.8% is dedicated to search advertising. Approximately 9.3%

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85% of B2B Marketers Not Spending Enough Time on Content Amplification

KoMarketing Associates

At the moment, the majority of B2B marketers (85%) say that they are not spending enough time on amplification in their content marketing programs. Most respondents (80%) claimed that they do not spend enough time on content amplification due to a lack of time. Using Social Media to Achieve Marketing Objectives.

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