Utm's are set of 5 parameters:
There is no limit to the length of the utm's a URL. A URL that has fewer than 2000 characters will work with any combination of browser and web server. So even though there’s no limit on any individual UTM parameter, collectively, along with the destination URL, there’s a limit of about 2000 characters on the final URL.
-> It’s a good practice to keep the UTM parameters short and meaningful.
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Yes, but specifically the question is whether when Marketo rewrites a longer URL to bounce off the tracking domain, the tracked URL is made longer as a result.
It’s a good practice to keep the UTM parameters short and meaningful.
See, I'm not sure I agree with this.
If something can be "short and meaningful" (meaning "short and meaningful to a human" presumably)... then sure.
But those two adjectives can be mutually exclusive. If you never have to have a human read your UTMs because they're generated and processed by code, they can be short, taking advantage of case-sensitivity as well. If you must keep them human-readable then they may necessarily have to be longer. It's much the same as naming variables in programming.
In short, no. The length of the tracking URL at your branding domain is not proportional to the length of the original target URL.