Improving diversity, equity and inclusion (DE&I) is a major priority for companies today as they seek to outcompete in the marketplace. As a result, CMOs are spending more on DEI than ever before.
But are they spending on the right priorities? The latest CMO Survey, released in February, provides a report card with benchmark data that marketing leaders can use to evaluate their companies’ performance.
More Money for Marketing on DEI
Our survey of 320 leaders found that companies are allocating 10.8% more to marketing spending on DE&I in 2022, compared to the 8.9% growth they reported in February 2021. Examining DE&I spending patterns, we find that DE&I spending is strongly correlated with company size as measured by revenues and number of employees.
