Internet Travel Monitor - Marketing, Research & TechMany marketers are seeing a shift in budget allocation within their organization, from traditional IT to marketing and advertising—all because of digital.
December 6, 2017
How Digital Is Driving Technology Budget Shifts
Dollars are being reallocated from traditional IT to marketing and advertising
Those are the findings from a recent study from Cowen and Company, conducted by Qualtrics, which surveyed US senior marketers in September and October.
A majority of respondents said that, because of digital, they see a shift in dollars being reallocated from IT budgets—which come from the traditional CIO's office—to marketing and advertising budgets, overseen by CMOs. Of that group, 43% said that shift was accelerating.
Some 20% indicated no shift occurring, while even less respondents (9%) said they weren't sure.
Digital isn't the only thing driving marketing tech investment. Over the past year, more marketers have invested in the technology by adding to their existing marketing tech stack.
A survey from Squiz conducted in January found that a large share of senior marketers are leveraging marketing tech to better understand who their customers are. Additionally, more than half said they're doing so to automate processes and reduce time on administration.
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