Marketing in the B to B sector was not been immune to a drop in spending during the recession. But last fall, BtoB's “2010 Outlook: Marketing Priorities and Plans” report noted that over a third of surveyed businesses expected to increase their 2010 marketing budgets and another 47% were planning to maintain spending. Another recently published study by AMR International also found optimism in the B to B sector, especially when it comes to online marketing.
AMR reported that the annual compound growth rate for online B to B marketing should reach 12% between 2009 and 2013. As a percentage of total B to B marketing, online comprised 7% of the total in 2008. Look for that figure to jump to 12% by 2013.
Individual sectors may experience higher than average growth rates:
- Social media 21%
- Lead generation Web sites 17%
- Online marketing services 15%
Notably, AMR believes that spending on online directories will drop 2% during this same time period.
Keep in mind that the final chapter for traditional media has not been written yet. The report indicates that “two thirds of B2B marketers believe that online must be complemented by traditional marketing activities.” As B to B marketers continue to fine tune their media mix for 2010 and beyond, watch for increased spending on social media, especially as more of these businesses use better tools to measure ROI.[Sources: B2B Online Marketing in the U.S., AMR International, February 2010; BtoB's “2010 Outlook: Marketing Priorities and Plans” ]