Marketing execs are bumping up their budgets and shifting their investments into the entire customer journey instead of focusing on individual channels, according to research from The CMO Club and IBM.
Based off of feedback from 100 chief marketing officers and heads of marketing with budgets of $1bn or more, the study found that marketers are naming social and digital channels as key areas of investment.
This comes as consumers are faced with multiple touchpoints when it comes to purchasing products, whether it’s mobile, tablet, or in-store, and are increasingly engaging with brands through digital and social media-driven campaigns.
Pete Krainik, CEO and founder of The CMO Club, said: “We’re excited about what this study reveals. Marketing dollars are in a seismic shift from channel to journey with feedback metrics that allow for rapid experimentation across campaigns and tactics.”
The research also noted that 57 per cent of chief marketing officers expect their budgets to increase over the next two to three years.
It also stated that traditional marketing, such as TV, radio, and print, is still a large factor for marketers, accounting for 52 per cent of their budgets.