Nuts & Bolts: B-to-B Marketing
Forrester Research analyst Laura Ramos forecasts an optimistic 2008 budget picture for B-to-B marketers. While she predicts most marketers “expect purse strings to loosen up,” she also says integrating search, Web site and e-mail marketing programs will provide a foundation to experiment with emerging Web 2.0 tactics, “while keeping the sales pipeline full and critics of further marketing investment at bay,” Ramos says.
As part of a joint study with Marketing Profs, Forrester surveyed 369 B-to-B marketing professionals in firms with annual revenues ranging from less than $20 million to more than $5 billion. The survey found traditional tactics make up the greatest share of most B-to-B marketing budgets. However, when asked how 2008 spending on online tactics will compare to 2007, close to 60 percent of marketers surveyed plan to increase spending on online video and rich media, while around 50 percent plan to boost budget allocations for search marketing, other Web 2.0 media and webinars.
In addition, more than 40 percent of companies surveyed plan to increase spending for blogs and e-mail, and 40 percent plan to boost available spending for online display ads. According to the report, rich media (including video and podcasting) experienced an increase from 28 percent of marketers planning to use it in 2006, to 34 percent in 2007, then over 50 percent in 2008.
Citing Forrester’s November 2007 “What Keeps CMOs Awake At Night?” report, Ramos notes that 33 top B-to-B marketing professionals consider the Web and online presence an important issue, which may explain the continued increase in online spending.