Wondering how much budget to allocate for your digital marketing? Gartner, an US based technology research company conducted a research among over 200 marketers from US based companies with more than $500 million in annual revenue, across 6 industries to understand how they are allocating their marketing budget and which activities are attributing to their success. Here are the key points from the report:
1. 10.4% of the 2012 revenue was spent on marketing and the budget is slated to increase by 6% in 2013
2. Digital marketing spending average 2.5% of the company's revenue
3. Digital advertising accounts for 12.5% of digital marketing budget and 11.6% on content creation and management
Content creation and management account for the second largest share of the digital marketing budget. As customers use more digital channels for collaboration, research and acquisition of products and services, the enormous pressure to create, manage and distribute content will multiply with time, demanded greater allocation of budget.
4. Surprisingly 41% of the marketers say that savings from digital marketing are reinvested
5. 50% of digital marketing activities are outsourced
6. 70% of the companies have a Chief Marketing Technologist. 80% of them report to marketing.
- They wear their technology hats to design a uniform customer experience across channels such as social, mobile, commerce and website to attract, acquire and retain customers
- Integrate data generated externally as well as internally to get a better understanding of their customers
- Support marketing campaigns and programmes such as a mobile app, paid search marketing and social marketing.