Bigger Firms Lead Marketing Budget Growth Trend

Multiple marketing industry surveys are forecasting higher marketing spending in 2016, but Target Marketing magazine's latest survey reveals an interesting trend behind the upbeat outlook: The higher the company revenue, the more aggressive the push in marketing budget for this year. Overall, for business-to-business and business-to-consumer firms, the survey found that more marketers are increasing budgets this year (37% compared with 31% in 2015), and fewer are keeping spending flat (39% in 2016 compared with near 44% last year). But marketing enthusiasm definitely varies by company size. For companies with less than $1 million in revenue, the survey found 54.7% are actually holding budgets level with 2015 and just 24.5% are increasing spending. In contrast, for companies with revenues of more than $50 million, 50.4% of marketers say they are boosting marketing dollars over last year, and only 27.8% are keeping budgets even with 2015. Companies in the middle size range, with revenues of $1 million to $50 million, reflect the general budget outlook, with 41% increasing marketing outlay and 37.3% sticking with the same budget. For the magazine's 2016 survey report, go to: http://www.targetmarketingmag.com/article/2016-marketing-budget-trends/