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20% of CMOs to invest less in paid search, SEO this year

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1 year ago

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Despite ongoing news of layoffs and tightening marketing budgets, there is some good news in this uncertain economy: the majority of SEO and search advertising budgets seem safe in 2023. That’s according to Gartner’s latest CMO Spend and Strategy survey.

While the report highlighted the fact that paid search advertising and SEO are among the channels most likely to have reduced investment in 2023, let’s look at the numbers.

Search advertising. Overall 74% of CMOs said they plan to either increase (40%) or maintain (34%) investment in this channel. That leaves 26% of CMOs who plan to reduce their investment in paid search.

SEO. Meanwhile, 80% of CMOs said they plan to either increase (46%) or maintain (34%) their SEO budget in 2023. The remaining 20% of the CMOs plan to reduce their SEO investment this year.

Social advertising and beyond. Surprisingly, 53% of CMOs planned to invest more in social advertising, compared to 14% who are decreasing investment. Two other categories that can expect more budget in 2023: digital video advertising and influencer marketing.

Here’s the full chart from Gartner:

Source: Gartner 2023 CMO Spend and Strategy Survey

Why we care. Organic and paid search are two proven marketing channels that can drive visibility, brand awareness, leads, revenue, profit and more for brands. If you aren’t investing in search, you’re potentially taking money off your table.

Dig deeper. SEO vs. PPC: Differences, pros, cons & an integrated approach

Budget woes. Marketing budgets are flat – and 71% of CMOs believe they lack the budget successfully to execute this year’s strategies. So it will be important for CMOs to make smart decisions about where they spend their budget.

About the survey. 410 CMOs and marketing leaders were surveyed in March and April 2023. Respondents were based in North America and Europe, representing various industries and company sizes, with most reporting annual revenue exceeding $1 billion.

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Investment

S&P/TSX composite up more than 100 points, U.S. stock markets mixed

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3 weeks ago

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October 16, 2024

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TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 103.40 points at 24,542.48.

In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.

The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.

The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.

The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.

This report by The Canadian Press was first published Oct. 16, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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Economy

S&P/TSX up more than 200 points, U.S. markets also higher

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4 weeks ago

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October 11, 2024

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TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.

The S&P/TSX composite index was up 205.86 points at 24,508.12.

In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.

The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.

The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.

The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.

This report by The Canadian Press was first published Oct. 11, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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Economy

S&P/TSX composite little changed in late-morning trading, U.S. stock markets down

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4 weeks ago

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October 10, 2024

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TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.

The S&P/TSX composite index was up 0.05 of a point at 24,224.95.

In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.

The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.

The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.

The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.

This report by The Canadian Press was first published Oct. 10, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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