Marketing budgets are increasing. More money is being spent on digital, at the expense of traditional advertising channels. The marketing budget is a marketing plan in terms of costs. It is an estimated amount of cost that will be required to promote products or services. Generally a part of a marketing plan and a crucial part of the marketing process.
Take a glance at the global marketing budget allocations by activities in 2018:
- The paid display is ranked as the most tactic that marketers are spending on it with a rate of 16% of the marketing budget with 41% of that budget spent on retargeting.
- Social media marketing is ranked as the second tactic used by marketers with a share of Ad spend 14%.
- Traditional marketing come at next with 13% spending share of the total marketing budget.
A Pie Chart Shows The Global Marketing Budget Allocations by Activities in 2018.