Gartner has revealed that organizations are set to increase their digital marketing spend next year according to its Digital Marketing Spending report.
More than half (51 per cent) of the companies surveyed said they were planning to increase their digital marketing budgets by 17 per cent with customer experience technology, such as programmatic trading which serves the right advert at the right time, fuelling increased spending.
Jake Sorofman, research director at Gartner, commented: “The amount of the marketing expense budget spent on customer experience in 2014 is remarkably consistent across all key survey demographics, averaging 18 per cent. The survey also found that the highest marketing technology investment in 2014 is for customer experience. Customer experience is also considered by many companies to be the top innovation project, just edging out product innovation.”
Gartner managing vice president, Yvonne Genovese, said that “digital marketing was the number one-ranked CEO priority” over the next five years thanks to connected devices and the growing Internet of Things.
The Gartner Digital Marketing Spending report is based on a survey of 315 individuals located in the US, Canada and UK and takes place in July and August 2014. Survey respondents represent organisations with more than $500m in annual revenue across six industries: financial services, high-tech, manufacturing, media, retail and transportation, and hospitality.