Understanding the Impact of Flat Marketing Budgets on Martech and Advertising Spend

Key Points

• Recessionary fears, inflation, and talent gaps are impacting marketing and martech investments, leading to a decrease in digital channel spending.
• 75% of CMOs feel pressure to cut technology spending, while 63% plan to resist and 23% will cut their martech spending.
• Social advertising spend has increased, while search advertising, SEO, and digital OOH budgets have suffered.
• Focus should be on a clear value case for martech investment, prioritizing efficiency over growth.
• Catalytic marketing emphasizes impactful customer engagement and performance-driven metrics to unlock full marketing potential.
• Efficient and ROI-focused marketing strategies are crucial in today’s landscape.
• L’Oreal is an example of a brand that has successfully embraced catalytic marketing to stay competitive in a fierce market.