US Marketing budgets to grow by 8.7% in 2020

New Ideas in MarketingEssential news for marketers, summarised by YouGov
August 28, 2019, 4:49 PM UTC

The CMO Survey surveyed 341 top marketers at for-profit US companies in August 2019.  

The survey revealed that the marketing budgets in the US are expected to grow by 8.7% in the next year compared to 6.3% actual increase in the last year. Budget spend on marketing analytics, which has been steadily increasing over the previous three years, is expected to grow by 61% over the next three years. 

Marketing leaders reported a 27% increase in the use of AI and machine learning in their toolkits over 2018 levels. Additionally, this rate is expected to increase by another 60% within three years. 

The survey reveals that marketers rate their organisations poorly on various customer experience activities. This article also states that brands can improve customer experience by numerous methods like “integrating touchpoints seamlessly across the entire customer journey.” 

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