B2B Marketing Budgets Rising
Will Increase 4.4% Overall This Year
Keen to capitalize on growth opportunities, B2B companies are ratcheting up spending on marketing in 2015, a just-released survey shows. The poll from ITSMA, a marketing research organization, found that marketing budgets in the B2B space will increase 4.4% overall this year.
Worldwide, nearly half of B2B marketers expect their marketing budgets to increase. Only 17%, the survey found, anticipate a budget decline. This year, marketers say they will spend about 42% of their budgets on employees. The next biggest expense is projected to be marketing programs and campaigns, with 28% of corporate budgets set aside for those efforts. While content marketing is gaining ground, the poll found that marketers will only spend 15% of their overall budgets on the inbound strategy.
Breaking down the spend further, ITSMA discovered that marketers are devoting 55% of marketing program and campaign dollars to offline marketing. The other 45% is going to digital. Still, that finding conflicts with a recent poll from Regalix, a marketing researcher. That study showed that 52% of B2B marketers in North America anticipate spending more than half of their overall budgets on digital efforts in 2015. Last year, Regalix found, 36% of marketers spent more than half their budgets on digital.
In a separate study from Duke University, researchers found that B2C marketers are ahead of B2B marketers in terms of total marketing budget. B2B service marketers report that, as a percentage of company revenues, their spend was 8.6%; B2C services marketers’ budgets were at 9.3% Meanwhile, B2B product marketers’ budgets tallied 7.4% of company revenues; B2C product marketers came in at 9.1%.