Gartner Marketing Budget Data (At a Glance)To say that the COVID-19 pandemic has strained corporate budgets in virtually every department (including marketing) would be an understatement of downright hilarious magnitude.Although unpleasant at the time, CMOs and other marketing executives anticipated that their budgets would "bounce back" this year. Yes, they understood why the 2020 cuts were necessary, but surely that would be temporary, right?Well, according to Whatsapp Mobile Number List new data from Gartner this month, it wasn't temporary. Across all industries , marketing leaders are reporting that their marketing budgets have been cut to record lows in 2021 , dropping from 11% of revenue to 6.4% (nearly half).What's fascinating about this report is how marketing teams have responded and adapted:
"...this continued change indicates significant internal activity as CMOs reinvent capabilities that can be supported by their internal teams."The irony is that this whole concept of “housing” and full ownership is one of the core tenets of the They Ask, You Answer framework , which is a proven approach to driving more sales with inbound marketing .As Marcus Whatsapp Mobile Number List Sheridan said, “When businesses come to [content marketing], and they feel they can't handle it themselves, they're tempted by the lure of an agency. perfect idea: 'I don't really have to lift a finger to write a check and I'll see great results. And the truth is , it was probably true - 10 years ago .
"So if you're a marketing leader trying to do inbound marketing with the help of an outsourced agency, I want you to hear me when I say this - even if it's just the recent budget cuts that have you makes consider severing relations with the agencies. , is this something you should have done from the start?This is where our conversation begins today.Free Course: They Ask, You Whatsapp Mobile Number List Answer the Fundamentals with Marcus Sheridan How Bad Are Marketing Budget Cuts Really?I could sit here and say, "Believe me, this is as bad as every Washington football team season since Dan Snyder became an owner" until I was blue in the face, but I'll just let the numbers speak for themselves: Screenshot 2021-07-30 at 11.08.53 AMBecause these numbers are very bad.Screenshot 2021-07-30 at 11.08.41 AMAnd they make it clear that no industry was immune.