Chief marketing officers expect to spend big on digital

by. Georgann Smith

Global marketing executives expect digital and mobile technology to significantly transform their marketing budgets over the next five years.

Specifically, more than one-third of chief marketing officers (CMOs) believe digital spending will account for 75 percent of their marketing budgets by 2019. Further, according to the recent Accenture study of nearly 600 executives in 11 countries, 41 percent believe their spending on digital marketing will increase by more than five percent next year alone.

The expected digital growth is the result of marketers’ increasing confidence in digital channels, up 10 percent over the past year. That comes as CMOs see an increase in the effectiveness of digital formats, including email, online display and search, compared to two years ago.

Another study found CMOs will spend more than $130 billion on innovative digital marketing efforts this year. The WebDAM study also concluded 55 percent of marketers worldwide increased digital marketing budgets in 2013.

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