CMOs are working with limited spending power, prompting a critical examination of resource allocation and a quest for cost-effective yet high-impact solutions. Gartner reveals that 71% of CMOs believe they lack sufficient budgets to fully execute on advertising strategies, and GroupM expects U.S. ad spending to increase 5.1% in 2024, lower than India, China, Germany and Brazil.
The silver lining? Diversifying advertising budgets with omnichannel media, like digital audio, will help advertisers reach unique and performative audiences at scale, with mere clicks of a button.
