Stat of the Month: How are Marketing Budgets Growing?
During the communications and business planning season, which usually takes place during the fourth quarter, professionals need to outline the budget they’ll require to implement their work. From year-to-year, communicators’ budgets will likely look different based the channels and work that best resonated with their brand’s audiences and the trends shaping the marketing and communications landscape.
One major trend influencing marketing and its budgets is the prevalence of digital media. As the world around us continues to get increasingly digital, marketers and communicators are shifting more of their work- and budgets- to digital efforts. The infograph below, which sources data from the CMO Survey, explores the effect of this shift, as well as other trends changing marketing budgets.