Marketers Say Budgets Have Fallen To Post-Pandemic Low
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Marketing executives said their budgets this year are 7.7% of total company revenue, a decline from the 11% average before the pandemic and the lowest since 2021, according to a survey by research firm Gartner. This year’s figure is less than the average of 8.2% since 2020.
The decline comes as marketers cut back on labor, agency assignments and marketing technology, while their media budgets hold steady.
About three quarters (73%) of marketers said their companies were asking them to do more with less, while 64% said they don’t have adequate budgets to fulfill their planned strategies.
