How much is spent on marketing in 2023?

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This question will be best answered by a study by Gartner, which, like every year, decided to check what the budget plans of companies for this year are in the context of marketing.

As we can see in the chart below, in 2023 the average marketing budget is slightly lower than in the previous year and amounts to 9.1%. According to Gartner, this change is due to, among other things, the difficult macroeconomic situation and the associated increased inflation.

These conditions result in companies being rightly concerned about maintaining financial liquidity and, therefore, increasing their willingness to cut costs. switzerland telegram data

marketing budgets of companies in 2023 – marketing budget

Source: Gartner, 2023

As a result, boards of directors are deciding to reduce marketing spend, often expecting marketers to do “more with less.” In a Gartner study, 75% of respondents indicated that they had encountered this approach from boards this year.