Marketing budgets as a percent of overall budgets rise to 11.8%, resetting to pre-pandemic levels, while marketing budgets as a percent of revenues increase to 10.4%. Yearly growth in marketing spending breaks 10% for only the second time in a decade and is predicted to show further lifts over the next year at 13.6%. Digital marketing spending, which currently accounts for 57.1% of marketing budgets, is expected to grow by 16.2% during the same period.

Increased marketing spending over the next year is expected across all categories, including brand building (+11.8%), customer relationship management (+9.5%), new product introductions (+8.8%), customer experience spending (+8.6%), and new service introductions (+5.3%). Traditional advertising spending (+2.9%) shows positive lifts for the second survey in a row, reversing a decade-long decline in these budgets. 

Customer acquisition budgets are reported to be 14.7% larger than customer retention budgets while companies spend approximately 7% more on R&D than marketing.