Forrester forecasts that CMOs will spend $146B on search marketing, banner and outstream advertising, instream advertising and email marketing in the US by 2023.
Macro trends like the increased use of digital media encourage marketers to invest in digital marketing, but depending on experience and sophistication, they have differing priorities. Specifically, Forrester found that:
- Advanced marketers rethink where ad dollars can be most effective. 30% of marketers will repurpose ad budgets toward data, technology or innovation in an effort to solve customers’ needs through immersive brand experiences.
- Intermediate marketers align budget with customer behavior. TV and online media will be where most marketers focus their budgets at 46% and 33% respectively. This is based on US online adults’ average weekly usage.
- Beginners bring new money to digital mainstays. For example, lead management is the top marketing priority for nearly 80% of B2B marketers surveyed.