CMO Survey (cmosurvey.com) asked top marketers to report what percentage of their marketing budgets they spend on marketing analytics, among other topics. The early 2014 CMO survey results are now available, let’s focus on some highlights:
Companies currently spend an average of 7.1% of their marketing budgets on marketing analytics and this is expected to grow to 12.2% in the next three years. This represents a sizable increase of 72%, in marketing analytics investment.
Marketing analytics deployment and growth varies by company size and industry sector.
Generally, current marketing analytic spending levels and expected growth levels correlate with company size (measured as revenues.) However, larger companies ($500M-$999M and above) are most aggressive in adopting solutions, as shown below:
Table 1. Spending on Marketing Analytics by Company Size (in sales revenues)
Examining sector differences in Table 2, we see that B2C companies spend more on marketing analytics now,and will remain ahead of B2B companies in the next three years. This is intuitive, in the sense of B2C companies having a potentially broader market and need for “big data” solutions.
Table 2. Spending on Marketing Analytics by Sector
And for firms doing more than 10% of their sales via Internet, investment in marketing analytics is also higher.
Table 3. Spending on Marketing Analytics by Percent of Internet Sales
These are just a few of the interesting highlights from the CMO Survey.
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