Marketing budgets are now just 6.4% of total revenue, down from 11.0% in 2020, according to a survey of marketers in North America and Europe by Gartner.

Why it matters

Gartner says that "a swift return to prepandemic funding levels proved elusive for many marketing organizations" and this is visible across industries – no category achieved a double-digit budget in 2021.

With budgets being reallocated, digital channels are benefitting. Owned, paid or earned digital media account for nearly three-quarters (72.2%) of total marketing budgets while digital commerce has topped program and operational investment with a 12.3% share.

Takeaways

• Marketing budgets...