In this industry, you often hear people share that firms spend between 2 and 4 percent of revenue on marketing. Well, what number is it exactly? And what is included in that calculation? These are important factors for a firm to properly benchmark how they stand in relation to the industry.
A few years ago, the Association for Accounting Marketing (AAM) partnered with the Hinge Research Institute to better figure that out. Firms were asked to submit their spending, as a percentage of revenue, in specific categories that it felt should be included in a budget. And they are conducting this survey again now to be released in 2017.