A new Digital Marketing Spending report from Gartner, which is based on a survey of more than 250 marketers from U.S. companies with more than $500 million in annual revenue, finds that spending on digital marketing currently averages 2.5 percent of company revenue, but those marketing budgets are expected to rise by 9 percent in 2013.
While the return on investment with digital marketing remains a little murky, organizations are continuing to invest heavily in an activity that they see as being critical to their organization’s long-term success.
In fact, many CMOs will be outspending the IT organization on IT by 2017. More challenging yet, Gartner says the majority of CMOs have hired their own CTOs.
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