Marketing budgets climbed to 9.5% of total company revenue in 2022 — up from 6.4% in 2021, but down from 11% in 2020 and 10.5% in 2019, according to Gartner. The Gartner 2022 CMO Spend and Strategy Survey — released Monday at the Gartner Marketing Symposium/Xpo — found 70% of respondents reported budgets increasing this year.
After three years of growth, CMOs have modest expectations for 2018, according to Gartner. Only 15% say they expect a significant increase in budgets; 52% expect a slight increase. One-third expect their budgets will be cut or frozen. Marketers plan to spend their budgets on retention, dwarfing acquisition budgets by a ratio of 2:1 and 67% of CMOs plan to increase investment in digital advertising.
