During a 2024 survey among chief marketing officers (CMOs) and marketing leaders in North America and Northern and Western Europe, respondents reported allocating, on average, 27.9 percent of their budgets to paid media. That was the highest share during the presented period, which starts in 2017. Since then, the respective shares allocated to labor and agencies declined from 27 and 25 percent to 22.6 and 22 percent. Meanwhile, marketing technology (MarTech) saw its share decreased from over 25 percent after the pandemic to less than 24 percent in 2024.
What is MarTech?
The term describes a range of systems, software, and solutions that harness technology to achieve marketing goals. As data-driven approaches such as marketing automatization and personalization can help optimize marketing processes across many different stages, MarTech solutions have become staple components of digital marketing campaigns worldwide. In just five years, between 2019 and 2024, the number of MarTech solutions globally available more than doubled, surpassing 14.1 thousand in the latter year.
Leadership in the marketing sector
The decrease in budget allocation to personnel also affects directors and the C-level. Before the pandemic, the share of companies' revenues allocated to marketing budgets across North America and Northern and Western Europe stood above 10 percent. As the 2020s unfold, however, the figure has annually declined, falling behind eight percent in 2024.
Distribution of marketing budgets according to chief marketing officers (CMOs) in North America and Northern and Western Europe from 2017 to 2024, by segment
respondents across 10 different sectors whose employers predominantly reported median annual revenues above 5.3 billion U.S. dollars
Supplementary notes
* Number of respondents in 2024.
2023: n = 410
2021: n = 400
2020: n = 342
2019: n = 342
2018: n = 618
2017: n = 350
2016: n = 375
No data about the number of respondents in 2022, 2015, or 2014.
The source does not inform the survey type, nor does it provide any information regarding missing percentage points to 100.
Data prior to 2024 comes from earlier releases.
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Gartner. (May 13, 2024). Distribution of marketing budgets according to chief marketing officers (CMOs) in North America and Northern and Western Europe from 2017 to 2024, by segment [Graph]. In Statista. Retrieved November 21, 2024, from https://www.statista.com/statistics/254393/allocation-of-marketing-budgets-worldwide-by-channel/
Gartner. "Distribution of marketing budgets according to chief marketing officers (CMOs) in North America and Northern and Western Europe from 2017 to 2024, by segment." Chart. May 13, 2024. Statista. Accessed November 21, 2024. https://www.statista.com/statistics/254393/allocation-of-marketing-budgets-worldwide-by-channel/
Gartner. (2024). Distribution of marketing budgets according to chief marketing officers (CMOs) in North America and Northern and Western Europe from 2017 to 2024, by segment. Statista. Statista Inc.. Accessed: November 21, 2024. https://www.statista.com/statistics/254393/allocation-of-marketing-budgets-worldwide-by-channel/
Gartner. "Distribution of Marketing Budgets According to Chief Marketing Officers (Cmos) in North America and Northern and Western Europe from 2017 to 2024, by Segment." Statista, Statista Inc., 13 May 2024, https://www.statista.com/statistics/254393/allocation-of-marketing-budgets-worldwide-by-channel/
Gartner, Distribution of marketing budgets according to chief marketing officers (CMOs) in North America and Northern and Western Europe from 2017 to 2024, by segment Statista, https://www.statista.com/statistics/254393/allocation-of-marketing-budgets-worldwide-by-channel/ (last visited November 21, 2024)
Distribution of marketing budgets according to chief marketing officers (CMOs) in North America and Northern and Western Europe from 2017 to 2024, by segment [Graph], Gartner, May 13, 2024. [Online]. Available: https://www.statista.com/statistics/254393/allocation-of-marketing-budgets-worldwide-by-channel/