In a bit of good news for media companies and agencies, B2B enterprises are spending more on marketing this year. They are also outsourcing some of their project work. The even better news from Sagefrog’s annual survey is that at least 44% of these businesses will increase marketing expenditures next year.
In this year’s survey, 63% of B2B marketers say they are using a formal marketing plan. About 45% of B2B companies handle their marketing needs in-house. Only 2% completely outsource the task. Another 53% use a mix of in-house and external resources. When marketing is outsourced, the following arrangements are most popular:
- Project basis 62%
- Both 29%
- Ongoing retainer 9%
Almost 2/3’s of B2B marketers spend more than 5% of revenue on marketing. 24% spend just 5%. Another 18% of businesses spend up to 10%. Only 7% of these marketers spend 15% on marketing while 13% are spending even more than that.
The focus of marketing activities this year is digital with the following formats getting the most attention: Website development, email marketing and online marketing. These days, only 35% of B2B marketers are using traditional print but 68% use social media, 76% use email and 94% have websites. Considering the separate platforms in the social media universe, here’s what these businesses use most:
- Social networks 79%
- Blogs 48%
- Micro blogs 37%
- Video sharing 35%
About 2/3’s of businesses also say social media is important or very important. However, 56% of these businesses spend 3 hours or less on the effort every week. The survey did not address whether this was an activity which was outsourced but it’s likely that the emphasis placed on social media will translate into more time spent and cost incurred to ensure that the effort has a positive return.[Source: 2012 B2B Marketing Mix Survey Results. Safefrog.com. July 2012. Web. 1 Aug. 2012]