After a three-year bullrun of budget increases, marketing budget growth stalled in 2017-2018. According to the survey, many marketing leaders struggle to budget for expected returns or manage marketing technology (martech) effectively. Marketing Budgets Start to RecedeCMOs' budgets have grown steadily over the last three years but there are signs this ascent may have peaked. CMOs should prepare for budget cuts by building a proactive cost optimization strategy that addresses all areas of marketing spend within marketing’s purview. CMOs should launch a top-to-bottom review of marketing programs and commitments based on their costs and contribution to marketing and business goals.

Source: Forbes February 07, 2018 19:52 UTC