Marketing budgets as a percentage of revenue have fallen to their lowest level in recent history. Meanwhile, marketing leaders continue to reprioritize channels, programs and resources.
- Marketing budgets as a proportion of company revenue have fallen from 11% in 2020 to 6.4% in 2021, their lowest point in the history of Gartner’s CMO Spend Survey.
- Pure-play digital channels account for 72.2% of the total marketing budget, with CMOs indicating that they’re shifting offline budgets into digital spend.
- 29% of work that was previously carried out by external agencies has been moved to in-house teams over the last 12 months. CMOs have focused in-housing efforts on high-value, strategic capabilities such as brand strategy, innovation and technolo
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