Observed Signal · Apr 14, 2022 · Research Publication · Source: CMSWire · Impact: 2/5 · Sentiment: Neutral
CMOs Boost DE&I Marketing Spending, But Impact Measurement Lags
A new CMO Survey report examines how companies allocate marketing budgets toward diversity, equity and inclusion (DE&I). Based on responses from 320 marketing leaders, companies plan to increase DE&I marketing spending by 10.8% in 2022, up from 8.9% growth reported in February 2021. Larger companies plan the biggest increases, with firms over $10 billion in sales budgeting 23.2% more. B2C services companies lead sector spending at 9.1%. While investments in brand and external communications remain high, marketers are increasingly focusing on strategic DE&I initiatives such as segmentation, targeting, and product design. However, 69% of leaders cite difficulty assessing the value of DE&I opportunities as a key barrier, and 25% report no DE&I actions in marketing. Documented impacts remain limited, with 41% seeing gains in employee acquisition and reputation, while only 15% report customer acquisition or retention improvements.
Provides benchmark data on DE&I marketing spending and impact measurement gaps, relevant to marketing strategy but not an industry-shifting AdTech event.
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Key Takeaways & Evidence Grounding
- Companies plan to increase DE&I marketing spending by 10.8% in 2022, up from 8.9% in 2021.
- 68% of marketing leaders expect DE&I to be a company priority for the next five years; 59% expect it to be a marketing priority.
- 69% of marketing leaders cite difficulty assessing the value of DE&I opportunities as a key barrier.
- 41% of companies documented improved employee acquisition/reputation from DE&I marketing, while 15% documented customer acquisition/retention impact.
- YouGov reports that 44% of global consumers say they don't feel fully represented by people in advertising.
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