Marketing budgets have dropped to 7.7% of overall company revenue in 2024

A pile of £20 notes.

Average marketing budgets have fallen to 7.7% of overall company revenue, down from 9.1% in 2023, according to a Gartner survey of 395 CMOs and marketing leaders.

This is according to the annual Gartner 2024 CMO Spend Survey, which was conducted from February to March 2024. Survey respondents were CMOs and marketing leaders in North America and Northern and Western Europe across 10 different industries, company sizes and revenue, with the vast majority of respondents reporting...

‘Bullish’ marketing industry plans to boost spending power in 2024

UK marketing leaders are gearing up for a ‘bullish’ 2024, with more than 70% planning to boost digital budgets this year, new data shows.  

Following four years of economic flatlining and commercial pressures for many of the UK’s top marketers, 2024 is expected to see a resurgence in industry optimism, with increased investment being directed in key growth areas including AI, websites, SEO, broadcast and podcasts, as well as email and content...

Three-quarters of firms delay AI due to ethics concerns

More than half (51.3%) of global marketing leaders say that cost is a major challenge when adopting AI and automation into marketing operations according to a new study.

The research into emerging AI was conducted by workforce solutions and marketing operations consultancy, Algomarketing. 

This first-of-its-kind study surveyed over 300 global marketing leaders working in firms with 10,000+ staff about the current use of AI and automation in their marketing...

3 in 5 Brits regret their social media influenced spending

Facebook has been named the most influential social media platform for Brits’ buying habits, new research has discovered.

Survey data from FCA-regulated credit broker Little-Loans.com has lifted the lid on how social media impacts Brits’ buying habits which, in turn, can aid companies’ marketing efforts.

A nationally representative survey of 2,000 Brits found that Facebook is the social media platform that leads to the most sales.

Participants detailed...

Global annual marketing spend to reach $4.7 trillion by 2025

A close up of a dollar bill.

Annual marketing spend will reach $4.7 trillion by 2025, which represents growth of $1.1 trillion from 2021 to 2025 at a compound annual growth rate (CAGR) of 7% — an acceleration above the 5% CAGR from 2015 to 2019.

This is according to industry analyst firm Forrester, which has published a new report titled ‘2022 Marketing Investment Forecast.

Brands are eager to understand how to adjust their marketing investments based on the impact of the pandemic. They will...

Advertiser spend on TV and social media is twice as high as daily consumption

A couple holding hands while watching TV.

Advertiser spend on TV and social media is highly inflated in relation to daily consumption. 

This is according to analysis of advertising spend forecasts of 100 worldwide markets by marketing intelligence service WARC, and the results of a survey by GWI of more than 715,000 consumers.

The analysis found that, as of the first quarter of 2021, social media now attracts more investment from advertisers than linear TV for the first time. However, both media draw far...