A trying but optimistic outlook for marketing

Though surveys have shown a significant uptick in global marketing spendings from 6.4% to 9.5% of company revenue, budgets still lag behind pre-pandemic levels.

Nevertheless, CMOs around the globe remain optimistic, despite challenges such as inflation, supply chain issues and talent competition. Customer journeys are equalising across online and offline channels as the difference between the respective budgets spent has reduced, with online channels account for 56%. This signifies a shift toward a hybrid multichannel format of marketing.

With uncertainties ahead, corporations must remain cautious and be prepared to reimagine and reappraise components required to drive the marketing machine.



Source: What Marketing Budgets Look Like in 2022, Gartner, June 2022