Growth in marketing budgets has stalled in 2017, with spend hitting a plateau this year after three years of growth.
According to a survey of 353 marketing executives in the US and UK at companies with more than $250m in annual revenue, budgets fell from 12.1% of company revenue in 2016 to 11.3% in 2017 – a return to 2015 levels.
And CMO’s are not confident growth will return next year. Just 15% say they expect a significant increase in 2018, while a third expect budgets to be be cut or frozen.
The research comes amid an increasing focus on marketing and effectiveness…
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