Tech leaders are the most bullish when it comes to increased budget expectations in the coming year
SINGAPORE, Aug. 5, 2024 /PRNewswire/ -- According to Forrester's (Nasdaq: FORR) 2025 Budget Planning Guides, leaders intend to spend more in 2025 after a year of restrained budget expectations. Despite high interest rates, tight labor markets, and the uncertainty of US elections, 91% of global tech decision-makers and 87% of global marketing decision-makers are planning for budget increases in the year ahead. Pressure to optimize spending and drive efficiencies remains a focus for organizations, however. As a result, to derive the most value from increased budgets, leaders must invest in cross-functional efforts that have an outsized impact on their firm's growth.
Forrester's Budget Planning Guides provide data-backed recommendations for technology and security, B2B and B2C marketing, customer experience (CX), digital strategy, and sales and revenue operations leaders to make sound planning and budgeting decisions for the coming year. The guides also include spending intention benchmarks and recommendations for areas to experiment, deepen investments, and divest budget allocations. Read on for key insights from Forrester's 2025 Budget Planning Guides.
Areas to increase investment in 2025:
Areas to decrease investment in 2025:
Areas for experimentation in 2025:
"Optimistic budget expectations will serve leaders well as they enter 2025, but they need to be super thoughtful about investing in areas that support their firms' overall growth," said Sharyn Leaver, chief research officer at Forrester. "While leaders should continue to experiment with more advanced AI capabilities in 2025, those shouldn't be the only experiments they pursue. They should prioritize investments that benefit their entire firm and help establish long-term trust with customers and partners. Forrester's Budget Planning Guides provide detailed guidance on where leaders should invest, pull back, and strategically experiment to succeed amid continual, rapid change."
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About Forrester
Forrester (Nasdaq: FORR) is one of the most influential research and advisory firms in the world. We help leaders across technology, customer experience, digital, marketing, sales, and product functions use customer obsession to accelerate growth. Through Forrester's proprietary research, consulting, and events, leaders from around the globe are empowered to be bold at work — to navigate change and put their customers at the center of their leadership, strategy, and operations. Our unique insights are grounded in annual surveys of more than 700,000 consumers, business leaders, and technology leaders worldwide; rigorous and objective research methodologies, including Forrester Wave™ evaluations; more than 100 million real-time feedback votes; and the shared wisdom of our clients. To learn more, visit Forrester.com.