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56% of B2B Operators to Increase Marketing Spend in 2019

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B2B marketers are gearing up for a busy 2019. Specifically, 66% of these businesses understand the importance of having a formal marketing plan. That’s one of the key findings from the 2019 Marketing Mix Report recently published by Sagefrog Marketing Group.

The good news is that at least 63% of B2B marketers either completely outsource their marketing needs or use a model that blends in-house and contractor expertise. When businesses look beyond their walls for help, they do so as follows:

  • Project-based work 47%
  • Retainer and/or project based work 53%

B2B operators are feeling positive about next year. At least 42% allocate 5% of their budgets for marketing. Another 23% will allocate at least 10% to the marketing effort. Companies with a larger marketing focus include the 7% that spend 15% of the budget on items like lead generation and the 8% of operators that devote more than 15% to bringing more new business through the doors.

Digital marketing remains a big focus for B2B operators. But, the following numbers show that plenty of businesses will allocate top spending on a variety of formats to reach their target audiences in 2019.

  • Website development 58%
  • Digital marketing 57%
  • Tradeshows/events 42%
  • Social media 18%
  • Direct marketing/print advertising 18%
  • Marketing collateral 23%
  • Marketing automation/analytics 25%
  • Marketing planning/brand strategy 14%
  • Public relations 14%

B2B marketing efforts are closely linked to sales targets. Last year, leads came from referrals (73%), tradeshows/events (46%), email (33%) and SEO (28%). In comparison, print advertising generates about 8% of leads and another 4% come from direct mail.

It’s not surprising that email marketing is the most widely used tactic, 78%, for B2B operators. Sagefrog analysts found that SEO has risen nearly 20% this year and is used by 75% of B2B marketers. While your clients appreciate the benefits of digital marketing, at least 65% will go to trade shows and events in the coming year. And 39% plan to use print advertising.

To get a read on how your prospect is doing in the digital arena, run a Digital Audit on them. Available at AdMall from Salesfuel, this tool can help you open the conversation about planning the 2019 marketing budget.

Kathy Crosett
Kathy is the Vice President of Research for SalesFuel. She holds a Masters in Business Administration from the University of Vermont and oversees a staff of researchers, writers and content providers for SalesFuel. Previously, she was co-owner of several small businesses in the health care services sector.
November 19, 2018 Media + Marketing Tags: , , ,

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