Business investment in marketing these days is soaring, especially in digital marketing.
In fact, for the first time in a decade, marketing growth topped 10% from February 2021 to February 2022. According to the latest CMO Survey report, marketing spending grew by 11.8% compared to the previous 12 months. And it’s projected to grow even faster over the next year, to 13.6%.
The digital marketing channel specifically accounts for the bulk of that marketing spend, at 57.1%. According to that same report, digital marketing spend is expected to grow by a whopping 16.2% over the next year.
