How has the marketing landscape evolved since early 2024?
In our Marketing Spend Outlook 2024 UK and Marketing Spend Outlook 2024 US published earlier this year, we anticipated a year of transition, with moderate budget growth amidst a recovering economic environment. Marketers navigated shifting buyer behaviours, new privacy regulations, and the rise of generative AI, all while balancing digital innovation with traditional approaches.
With H1 and some Q3 results for publicly listed companies published, the updated insights highlight what has changed since our previous reports and what’s driving spending decisions towards the end of 2024 and beyond.
Download the latest Updated Marketing Spend Outlook 2024 reports for a comprehensive view of:
- How revised economic conditions have shifted marketing spend growth in the UK and US
- Updated forecasts for both B2C and B2B segments, with insights into which sectors are outperforming and which are lagging behind
- Channel-specific insights, including digital, in-person events, and traditional media dynamics
What has changed in the UK and US Marketing Spend Outlook?
A stronger economic backdrop has supported growth in B2C marketing spend in both regions. The UK has seen a stabilisation in consumer markets, contributing to a slight upward trajectory in marketing budgets, while B2B spending remains cautious, leading to a revised forecast. In the US, a better-than-expected economic environment has lifted B2C growth beyond initial expectations, though B2B budgets are still facing pressure, particularly in the technology sector.
Despite these improvements, the evolution has not been uniform. Some sectors continue to face challenges, with technology, retail, and pharma showing signs of slower recovery. Meanwhile, CPG, Telecoms & Media, and Automotive have emerged as leaders in ad spend growth.
How have budget shifts impacted marketing strategies?
Amid a more positive economic climate, spending priorities are becoming clearer. While digital and in-person events continue to capture the largest share of spending growth, budget constraints have led many marketers to focus on activities that drive immediate ROI. This trend is especially prominent in B2B, where face-to-face events remain a priority, offsetting slower growth in digital media spend. In contrast, B2C marketers have maintained their focus on digital channels, with retail media networks and OOH showing notable performance.
Data remains at the heart of strategic decisions, but with tightened budgets, larger tech investments and transformation projects have faced delays. Instead, marketers are leaning on more tactical implementations and leveraging agency partnerships to fill capability gaps in areas like AI and advanced analytics.
What to expect heading into 2025?
With the economic recovery gathering pace, marketers are eyeing stronger growth prospects for 2025, particularly in the B2B space. The updated reports suggest that while 2024 has seen a shift towards cautious spending, a return to confidence is on the horizon, setting the stage for renewed investment in growth-focused strategies.
Download our Updated Marketing Spend Outlook 2024 UK and US reports below for a detailed breakdown of how these trends are playing out and what they mean for marketing leaders preparing for 2025.
