56% of B2B Operators to Increase Marketing Spend in 2019
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.