Technology marketers surveyed in the 2023 Gartner Tech Marketing Benchmarks study indicated that marketing investment as a percentage of revenue is on average 7.2% for companies with $100M or more in revenue, with variances based on company size and sector. That is down from the 9.2% investment in revenue in 2022.
The 2023 Gartner Tech Marketing Benchmarks point to the pressure that marketing teams are under to drive growth while running more efficiently. The unpredictability of tech buying behaviors coupled with economic uncertainty is forcing tech marketing teams to adjust plans downward.
Product marketers should benchmark their marketing budget against peers to compare resource investments and learn how to drive efficiencies with their resources and optimize efforts.
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