A new study reported on The Australian and commissioned by Greenhat, a B2B consultancy, reported that for the first time ever, B2B marketers are planning on spending more of their annual budgets on digital marketing methods, such as social media and content marketing, over traditional channels, like print advertising. A recent report from CMO.com and Roberts Communications Inc backs up this data: they report that 60% of marketers are planning on their employers investing more in digital marketing this year.
The B2B Marketing Outlook study also reported that 70% of B2B marketers are planning on making content marketing a crucial component of their entire marketing strategy this year, with over half reporting that they utilize blogging as part of their digital strategy.
Social Media B2B Marketing Strategy
With just 15% of survey respondents reporting that they had great results from social media, as many still weren’t able to properly quantify the ROI or all conversions that came from social media efforts. Out of the top social media sites, professional networking site LinkedIn was the most popular site used, with over 86% reporting that it was part of their social media strategy.
Marketing Areas Losing Funding
Along with finding the areas where B2B marketing spending is increasing, researchers also examined the areas where B2B marketers were planning on decreasing their funding. For instance, the survey found that 33% of all participants were planning on decreasing their print advertising spend. In addition, conference and trade show budgets were also becoming smaller as well as they decrease in popularity among marketers.
As the move from traditional marketing channels to the digital space continue to grow, B2B marketers will need to learn how to properly measure and quantify online efforts in order to determine true worth.
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