Change in digital vs. traditional marketing budgets as per U.S. CMOs 2012-2023

During a fall 2023 survey, chief marketing officers (CMOs) in the United States said that their digital spending grew by 7.9 percent, relative to preceding 12 months. On the other hand, traditional advertising spending decreased by 0.6 percent in the same period.

Marketing budgets and spending in the United States

In the past several years, U.S. marketing executives devoted on average between seven and 10 percent of their company’s revenues towards marketing budgets. As of February 2020, this figure grew to 13.2 percent. Despite the heavy impact the coronavirus had on the industry, marketers are still expecting a positive growth in spending in 2022. What are these resources spent on? It is no surprise that digital is constantly on the mind of U.S. CMOs. Spending on traditional media is decreasing in favor of digital ones. In fact, one thing is certain – U.S. CMOs are and will be investing more and more in mobile marketing, which is evident by constant growth in the share of their budgets allocated to this medium.