Marketing executives believe that budget will rise by 2020.
As per Gartner’s 2019-2020 CMO Spend Survey UK marketing budget allocations are “significantly” behind their US counterparts. Over 430 marketing executives across France, Germany, Canada, US and the UK were surveyed for the study.
In the UK, marketing budgets currently account for 9.3% of overall company revenue. This has slipped from being 11.4% this time last year. Within digital advertising, search advertising spends saw growth at 6.3% of budget. A modest growth from 2018’s 5.1%.
The study highlighted that confidence in digital ads is increasing, irrespective of overall reduced investments towards it. Further, UK marketers are getting about 25.8% of the budget to “play with shiny toys”. Twelve months earlier, this figure was 31.7%.
[4 minute read]