{"id":3161,"date":"2023-06-30T01:42:58","date_gmt":"2023-06-30T01:42:58","guid":{"rendered":"https:\/\/mysourcefunding.com\/marketing\/nearly-two-thirds-of-cmos-face-budget-barriers-in-2023-report-says\/"},"modified":"2023-06-30T01:42:59","modified_gmt":"2023-06-30T01:42:59","slug":"nearly-two-thirds-of-cmos-face-budget-barriers-in-2023-report-says","status":"publish","type":"post","link":"https:\/\/mysourcefunding.com\/?p=3161","title":{"rendered":"Nearly two-thirds of CMOs face budget barriers in 2023, report says"},"content":{"rendered":"

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CMOs are still feeling the squeeze on their budgets, according to Gartner\u2019s latest CMO Spend Survey.<\/p>\n<\/div>\n

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The majority of CMOs surveyed said that they lack the budget (71%) or resources (74%) to execute their strategy for the year, according to Gartner\u2019s survey, which polled more than 400 CMOs in North America and Europe in March and April. Marketing budgets fell slightly from last year, from 9.5% to 9.1% of total company revenue, according to the report.<\/p>\n<\/div>\n

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As CMOs report budget struggles, three-quarters said they\u2019re also feeling pressure to \u201cdo more with less\u201d this year, and 86% said that\u201csignificant changes\u201d have to be made within their marketing organizations \u201cto achieve sustainable results.\u201d<\/p>\n<\/div>\n

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Social > SMS: <\/strong>Of the budgets CMOs do have to work with this year, the largest percentage (25.6%) is being allocated toward paid media, followed by marketing tech, labor, and agencies\u2014very similar to the breakdown last year.<\/p>\n<\/div>\n

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