Industrial Marketers Investing More Online
Forty-seven percent of 464 industrial marketers recently surveyed said they'll spend more than one-third of their budgets online in 2010, and 51 percent of them will invest more than they did in 2009.
These findings were gleaned from a Globalspec report called "Trends in Industrial Marketing 2010: How Manufacturers are Marketing Today." Globalspec is a search, information services and e-publishing company serving the engineering, technical and industrial communities.
A key finding from the report, according to Globalspec, was that there's a renewed optimism surrounding the economic upturn. Seventy percent of survey respondents said they anticipated an increase in sales this year, while only 16 percent expected it in 2009.
Industrial marketers also reported their biggest challenges continue to be limited resources, lack of high-quality leads and a need to improve return on investment. Nearly 75 percent of respondents stated that lead generation or customer acquisition is their biggest challenge. To address these issues, more than half indicated that online channels such as directories and websites, along with an increase in social media tactics, will be major components of their 2010 marketing campaigns.
In terms of social media, more than two-thirds of marketers responding said they plan to spend more on video and social media such as Twitter, LinkedIn and Facebook. Conversely, 25 percent plan to decrease their spend on trade magazine advertising, while 24 percent will decrease use of printed directories.
Additional trends gleaned from the survey include the following:
- top sources for lead generation include online channels such as company websites, email marketing and search engine optimization; and
- three-fourths of respondents said they include customer specifications on their websites since these are one of the key features customers and prospects search for.
Based on survey results, the report offered the following three recommendations for industrial marketers: