The top 3 factors influencing marketing planning and spending according to CMOs
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Key stat: 53% of B2C CMOs and 41% B2B CMOs worldwide said poor corporate financial performance would likely impact marketing planning and spending, per Q1 2024 data from CMO Council and Zeta Global. B2C and B2B marketers also agreed that the economic climate and consumer demand and intention were also major influences.
Beyond the chart:
- At times of economic and corporate uncertainty, it becomes more important for marketing strategies to align with financial goals. However, only 22% of CMOs and CFOs are very willing to collaborate with each other, per an August 2023 survey from the CMO Council.
- Nearly a quarter (24%) of marketers in North America cite data-driven decisioning as the most important area of aligning marketing and finance goals, the same CMO Council survey found.
- Marketing teams often serve as the connector to other departments such as finance, sales, and operations. Developing close relationships across each team is essential to support the organization’s bottom line.
Use this chart:
- Advocate for closer collaboration between internal teams.
- Justify transparency in corporate financial performance reports.
- Make a case for market research and economic forecasting platforms to stay flexible as the economy changes.
More like this:
- The Role of Today’s CMO (EMARKETER subscription required)
- More than a third of CMOs lean on genAI for productivity, personalization, and more
- Key factors affect CMOs’ marketing planning and spending
- CMOs at top US advertisers are leaving their roles sooner
Methodology: Data is from the May 2024 CMO Council report titled "CMO Intentions 2024: Fueling Martech Innovation Through AI" in partnership with Zeta Global. Almost 200 C-level executives worldwide were surveyed during Q1 2024. Respondents held CMO/chief revenue officer/chief growth officer/chief experience officer/senior vice president/vice president titles at companies located in North America and Europe in various industries.