GARTNER: Business marketing budget up to 9.5%
In 2022, European and American companies increased their marketing budgets to 9.5% of revenue. Gartner came to this conclusion based on the results of a survey.
By comparison, a year ago, the business confirmed marketing spending at 6.4% of revenue. And between 2018 and 2020, average ad spend was estimated at 11%.
Advertising spending increased by companies in all industries. The leaders in this indicator were the financial services sector (10.4% of revenue) and the sector of consumer goods manufacturers (8%).
At the beginning of the year, the British advertising concern WPP predicted an increase in global advertising spending by 22.5%, to $ 763.2 billion. However, factors such as high global inflation, the conflict between Russia and Ukraine, difficulties in logistics, constrain business advertising costs, comments Evan McIntyre, Marketing Research Director at Gartner.
More than 400 marketing executives from companies in North America, Western and Northern Europe with over $1 billion in revenue took part in the Gartner survey.