Gartner Survey Reveals 71% of CMOs Believe They Lack Sufficient Budget to Fully Execute Their Strategy in 2023 - Seite 2

“Like gamblers looking to write-off their losses with the next bet, CMOs are attracted to the allure of newer technologies, no doubt amplified by the chatter around generative AI,” said McIntyre. “They are hungry to see its potential to transform marketing campaigns and content creation. While this hunger to invest is understandable, it illustrates the sunk-cost fallacy that more tech is always better.”

“The willingness to let the majority of their martech stack sit idle signifies a fundamental resource disconnect for CMOs. It’s difficult to imagine them leaving the same millions of dollars on the table for agencies or in-house resources. This trade-off of technology over people will not help marketing leaders accelerate out of the challenges a recession will bring.”

CMOs Expected to Increase Social Advertising Spend and Decrease Search

Paid media leads in budget allocation across major marketing resources (25.6% of overall 2023 budget), followed by marketing technology (25.4%), labor (24.6%) and agencies (23.3%).

Social advertising, which currently takes up the most paid media budget, was identified as the top digital channel to receive increased investment this year, followed by digital video advertising and influencer marketing. Search advertising was identified by the most respondents to receive decreased investment in 2023 (see Figure 2).

Figure 2. Change in Investments for Digital Channels in 2023 (Percentage of Respondents)

Digital Channel	Increasing Investment	Decreasing Investment
Social advertising	53%	14%
Digital video advertising	51%	16%
Influencer marketing	49%	12%
Digital display advertising	46%	18%
SEO	46%	20%
Retail media networks	43%	17%
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