This 28th Edition of The CMO Survey finds that marketing budgets as a percent of overall budgets rise to 11.7%, resetting to pre-pandemic levels, while marketing budgets as a percent of revenues increase to 10.3%. Yearly growth in marketing spending breaks 10% for only the second time in a decade and is predicted to rise further over the next year to 13.6%. Digital marketing spending, which currently accounts for 57.1% of marketing budgets, is expected to grow by 16.2% during the same period. Although investments in digital marketing have increased across the board, investments in data analytics grew by nearly 40% over the last year to become the most common investment by marketers. The largest reported digital marketing challenges are integrating customer data across all touchpoints and combining digital and offline data.