During an online March 2023 survey among business-to-business (B2B) marketers in the United Kingdom (UK), 41 percent of respondents stated that economic recession was the primary driving force of the marketing budget changes. Inflation and rising interest rates followed with 39 and 37 percent, respectively. According to the same study, 45 percent of respondents reported significantly or slightly reduced marketing budgets.
Drivers of marketing budget changes at business-to-business (B2B) companies in the United Kingdom (UK) in 2023
Characteristic
Share of respondents
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Integrate. (April 25, 2023). Drivers of marketing budget changes at business-to-business (B2B) companies in the United Kingdom (UK) in 2023 [Graph]. In Statista. Retrieved August 25, 2024, from https://www.statista.com/statistics/1400101/marketing-budget-changes-b2b-companies-uk/
Integrate. "Drivers of marketing budget changes at business-to-business (B2B) companies in the United Kingdom (UK) in 2023." Chart. April 25, 2023. Statista. Accessed August 25, 2024. https://www.statista.com/statistics/1400101/marketing-budget-changes-b2b-companies-uk/
Integrate. (2023). Drivers of marketing budget changes at business-to-business (B2B) companies in the United Kingdom (UK) in 2023. Statista. Statista Inc.. Accessed: August 25, 2024. https://www.statista.com/statistics/1400101/marketing-budget-changes-b2b-companies-uk/
Integrate. "Drivers of Marketing Budget Changes at Business-to-business (B2b) Companies in The United Kingdom (Uk) in 2023." Statista, Statista Inc., 25 Apr 2023, https://www.statista.com/statistics/1400101/marketing-budget-changes-b2b-companies-uk/
Integrate, Drivers of marketing budget changes at business-to-business (B2B) companies in the United Kingdom (UK) in 2023 Statista, https://www.statista.com/statistics/1400101/marketing-budget-changes-b2b-companies-uk/ (last visited August 25, 2024)
Drivers of marketing budget changes at business-to-business (B2B) companies in the United Kingdom (UK) in 2023 [Graph], Integrate, April 25, 2023. [Online]. Available: https://www.statista.com/statistics/1400101/marketing-budget-changes-b2b-companies-uk/