Paid search advertising and SEO are among the channels most likely to have reduced investment by 2023, according to Gartner’s latest CMO Strategy and Spending Survey. But it’s not all bad news for search marketing.
Search advertising. While 26% of CMOs planned to reduce their investment in paid search, 40% of CMOs said they planned to increase investment in this channel.
seo While 20% of respondents identified SEO as a channel to reduce investment this year, 46% of CMOs planned to increase their SEO budget.
Social advertising and beyond. Surprisingly, 53% of CMOs planned to invest more in social advertising, compared to 14% who are decreasing investment. Two other categories that can expect more budget in 2023: digital video advertising and influencer marketing.
Here’s the full chart from Gartner:
Source: Gartner CMO Strategy and Spending Survey 2023
Why we care Organic and paid search are two proven marketing channels that can generate visibility, brand awareness, leads, revenue, profits and more for brands. If you’re not investing in search, it might be taking money off your table.
You deeper SEO vs. PPC: Differences, Pros, Cons and an Integrated Approach
Bad budgets. Marketing budgets are flat and 71% of CMOs believe they don’t have the budget to successfully execute this year’s strategies. Therefore, it will be important for CMOs to make smart decisions about where they spend their budget.
About the survey. 410 CMOs and marketing leaders were surveyed in March and April 2023. Respondents were based in North America and Europe, representing a variety of industries and company sizes, with the majority reporting annual revenues greater than $1 billion.
[ad_2]
Source link
