Chart of your day: 11.1% of businesses budgets is allocated to marketing activities on average
Research by The CMO Survey has discovered that 11.1% may be the average budget allocated to marketing. As shown in the chart below, 11.1% typically is just how much companies are spending n marketing. If your organization is spending significantly less than this, it’s worth taking into consideration whether you can find missed opportunities.
Across sectors, the study has discovered that marketing spend is mixed, but there are numerous of industries that spend somewhat more than others. Shown below may be the percentage of budget devote to marketing in each sector listed. Energy, healthcare, media and tech industries are leading the best average marketing spend
Digital marketing also dominates marketing spend across B2C and B2B sectors in comparison with “traditional” marketing spend.
Marketing can be around 7.9% of revenues, showing similarities between budget assigned and percentage of revenue spent being quite similar.
Marketing spend predicated on revenue is highest for customer services industry and education.
It is practical that marketing spend predicated on revenue and marketing spend assigned are close, not a hugely different since it shows how companies are using revenue estimates to assign marketing also it shows the significance of marketing to businesses.