Manufacturers Putting Big Focus on Online Marketing
Forty-eight percent of respondents to a recent survey of manufacturers said online marketing will command a greater portion of their marketing budgets this year versus last year.
This finding comes from a survey conducted in the first quarter of 2009 by GlobalSpec, a vertical search, information services and e-publishing company serving the engineering, manufacturing, and related scientific and technical market segment.
Of the 555 survey respondents, 66 percent hold management positions in sales or marketing, and 12 percent said they're presidents/CEOs. The group also represents a variety of company sizes, with annual marketing budgets ranging from less than $50,000 to more than $1 million.
Additional highlights from the survey include the following:
- 73 percent of respondents said customer acquisition or lead generation is their primary marketing goal;
- the top three marketing challenges in 2009 are having too few resources, not enough quality leads and a need to improve marketing ROI;
- three of the top four marketing channels are online: online directories/websites, email marketing to house lists and search engine optimization;
- 29 percent of respondents spend more than 50 percent of their marketing budgets online;
- 68 percent of respondents anticipate their companies' sales to be down in 2009 from 2008;
- in response to economic conditions, 69 percent said they'll closely evaluate the performance of their marketing programs and reduce or eliminate programs that don’t perform well, 53 percent will choose marketing programs that are measurable and 41 percent will spend a greater percentage of their marketing budgets online; and
- 43 percent of respondents will expand marketing efforts to reach new industries.