75% CMOs report being asked to do more with less in 2023. What does this mean?
Marketing budgets have fallen again - from 9.5% of company revenue in 2022 to 9.1% in 2023. Furthermore, inflation has reduced CMOs’ spending power as costs rise and budget growth stalls. But, it's important for CMOs to do the right with less and defend their budgets with a clear-eyed view of the competitive environment.
Gartner's 'The State of Marketing Budget and Strategy in 2023' report reviews the annual CMO Spend Survey and highlights data, insights and key learnings for CMOs to balance efficient near-term execution with investments that enable them to build future-forward capabilities.
Use this latest report to:
- Benchmark your marketing budget and investments against peers and competitors
- Discover 3 areas of spend that are challenged to return value
- Uncover action steps to plan your marketing budget that returns value
