Contrary to some research showing marketing budget skepticism around the world, a majority of senior marketers around the world surveyed by The CMO Council say their budgets have grown this year as compared to last. Along with these additional funds have come increased responsibilities, legitimacy, and compensation, leading The CMO Council to tab 2013 as “the year of the marketer.”
Looking first at budgets, 54% reported an increase this year, while an additional 24% reported no change. Encouragingly, almost 1 in 5 said they saw an increase in budgets of more than 10%. As a percentage of revenue, about two-thirds reported their budgets to be up to 4%. While The CMO Council report suggests that’s not a big change from the past, it also indicates that there appears to be an increase in the proportion of marketers benefiting from slightly higher margins. Still, insufficient budgets continue to roil marketers, as they cited this to be their biggest area of frustration. Read the rest at MarketingCharts.