Marketers’ optimism about the U.S. economy lost strength, as a three-year-high in confidence levels recorded last spring was dampened by election uncertainty and lingering inflation worries. But despite macroeconomic and political concerns, marketing spending at U.S companies grew by 5.8% during the last year, up from a growth rate of 2.5% in the last survey.
This is according to the 33rd edition of The CMO Survey, directed by Professor Christine Moorman of Duke University's Fuqua School of Business and co-sponsored by Fuqua, Deloitte LLP, and the American Marketing Association.
The survey found that overall marketing spending is bouncing back to the four-year-high levels notched in Fall 2022, after a two-year slump. Despite this, marketing spending as a percentage of companies’ budgets and revenues is lower, showing that both revenues and overall budgets are growing at even higher rates.
The CMO Survey was founded in 2008 and is the longest-standing survey of marketing leaders worldwide. Find more details, industry breakdowns and past results at https://cmosurvey.org/
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