Marketing budget squeeze puts training on back burner

Tight budgets are the biggest barrier to upskilling for more than a third of marketing leaders, despite businesses facing widespread talent shortages across AI development and digital and social sales.

That is according to a new study by the Digital Marketing Institute – not a trade body as the name might suggest but a company owned by BPP Education Group which claims to offer “globally recognised” digital marketing certification.

The “State of Digital Skills & Corporate Training report” looks at where talent shortages exist in marketing and the learning and development initiatives companies are putting into place.

It reveals that training budgets decreased for more than a third (34%) of businesses last year, despite the fact that three-quarters (74%) of bosses still intend to address the skills gaps within their organisation.

To address talent shortages, 72% of decision-makers are providing mandatory training for their teams, with on-the-job training (60%) being the most popular, followed by online training (52%) and team workshops (49%).

Employers are aware of the business benefits of providing this training, too. According to the research, the biggest value for addressing skills gaps include improved role-related performance and productivity (45%) and higher employee satisfaction and retention (43%).

Employees are keen to develop their skills too. A separate report from DMI found that the top digital qualifications marketers want are in general digital marketing (33%), strategy (12%) and communication (9%).

DMI chief executive Ken Fitzpatrick said: “The roles of marketers are constantly changing in the ever-evolving digital marketing industry, and the influx of new technologies shaping the industry today means skills gaps are more prevalent than ever.

“It’s positive to see training and upskilling so high on the agenda for many business leaders. L&D initiatives are no longer seen as nice to have, but a business priority. Understanding where those skills gaps are and putting the steps in place to plug them before they begin to have a real impact on an organisation’s bottom line is key.”