Gartner Reports Shrinking Budgets, Rising Pressure—How Can Marketers Adapt?

News From the Q to You! 

From Marketing technology innovations, thought leadership analysis, to several hot new job listings we have a lot Q’d up in our 14th edition!

A few slots are still open for our Slack community beta with free access—first come, first served! Connect with fellow marketers, share news, job opportunities, career tips, and resources, and get real-time feedback. Plus, we’ve just launched our Book Club group—send your request to join now

Hot Take 🔥

Marketing leadership tenure has been declining since 2009! The CMO role now turns over more often than any other C-Suite position. And the tenure of marketing professionals, not just CMOs, is shrinking across the board, driven by several key factors:

• Decreasing budgets amid economic uncertainty

• Intense pressure for immediate ROI and data-driven results

• Increased focus on multi-channel attribution and personalization

• The rapid evolution of AI and automation, requiring constant upskilling

• Shifts in consumer behavior and privacy regulations

• Growing expectations for marketers to drive growth with limited resources

These challenges are making it harder for marketers to meet rising demands, contributing to shorter tenures across the industry.

Check out our analysis on this topic. 

According to a recent Gartner survey over 395 CMOs and marketing leaders, marketing budgets have dropped to just 7.7% of overall company revenue in 2024, with average budgets cut by 15%. Note the significant cut in Labor spend.

The "growth at all costs" approach from 2020-2021 has shifted to a focus on efficient, sustainable growth, which largely explains the headcount reductions mentioned in the report. At the same time, paid media budgets have surged, but companies often set unrealistic expectations for digital marketing. If quick wins don’t happen, they’ll likely scale back, and we could soon see cuts in digital spending as well.

Marketing Leadership Toolbox 🧰

For marketers facing layoffs, struggling to find a job, or feeling set up for failure in their current role, it's crucial to take proactive steps to navigate the challenging job market. Focusing on building relevant skills, expanding networks, and positioning yourself for new opportunities can make all the difference.

What Marketers Can Do?

• Upskill: Focus on in-demand skills like AI, automation, or data analytics. Certifications can help bridge gaps in hands-on experience.

• Network: Leverage LinkedIn, industry groups, and events to connect with peers, recruiters, and potential employers.

• Invest in Personal Brand: Refresh your resume and LinkedIn with measurable results. Provide both stats and context to showcase the true impact of your work. Many applicants tend to focus solely on quantitative data, overlooking the critical context needed to make those numbers meaningful.

• Freelance: Take on short-term freelance projects through platforms like Fiverr or Upwork to gain experience and address job description gaps.

• Research Companies: Explore companies that prioritize marketing careers by checking reviews on Glassdoor and speaking with current or former employees.

• Ask Probing Interview Questions

  • "What advice would you give me if I started?" This helps you understand success metrics and challenges while demonstrating your interest in thriving in the role. You can also reference their advice in your thank-you note.

  • "What are the biggest internal challenges the marketing team is currently facing, and how does the company support overcoming them?" This question helps you assess the level of support for marketing efforts and potential roadblocks.

Career Up 🚀

🍂 Don’t leaf without checking out these spicy new jobs ☕🎃

Chief Marketing Officer (CMO) SAP 

Chief Marketing Officer HumCap $170k - $190k

SVP, Marketing Foundation Partners Group

VP of Marketing Lumifi

VP of Marketing Cora Systems Remote

VP of Marketing Cast & Crew $150—$190k

VP of B2B Marketing Veritas Labs Remote

VP of Marketing Creative Circle  $285-$325k with 30%(+) bonus and generous relocation package if necessary

VP of Sales and Marketing BB Imaging $150k-170k

VP Demand Generation Ottimate $170k - $190k Remote

AVP, Digital Marketing LOFT $180k - $210k

VP, Digital Lacoste $200k - $225k

Senior Director, Consumer Product Marketing Upside $255k - $282k

Director, Growth Media Marketing Chime $168k - $238k

Director, Product Marketing Ryan $153k - $250k Remote

Head of Integrated Marketing Discord $257k to $283k

Growth Marketing Manager Thatch Remote

Senior Marketing Manager Harmony United Psychiatric Care

Lifecycle Marketing Manager Chime $103k - $144

Sr. Product Marketing - Collectibles eBay $126k - $187k

Event Marketing Manager BAL

Digital Marketing Specialist Launch That

Strategic Event Marketing Associate JPMorganChase

Graphic Designer & Marketing Specialist Newmark

Find MANY more marketing career opportunities, across all functions and seniority levels, on our Job Board MarketingHQ

Until Next Time

Want to dive into these topics in person? If you're in Boston on Nov 8th, join us in the Seaport District for the Marketing Roadshow! With 20+ speakers, great exhibitors, networking, food, and fun, it’s an event you won’t want to miss. We still have free and discounted passes——grab yours while they last! Email [email protected].

Stay tuned for our upcoming newsletter, where we'll be launching our new AI-Powered Resume Builder 🤖 —designed specifically for marketers!

We're excited to announce the upcoming launch of the MarketingHQ podcast! Help us choose the first topic and guest speaker by casting your vote below:

In the meantime, follow us on LinkedIn and join our Community for more updates, job postings, and discussions. 

Thanks! 

-MarketingHQ Team