Industrial marketers may have been late to the digital party. But, these enterprises are wasting no time catching up. Most recently surveyed industrial companies believe they’ll end 2012 in an improving revenue position and over 1/3 of these operators are increasing their advertising effort.
Like any business, industrials are concerned about generating leads and turning them into customers. To achieve these goals, nearly half of industrials allocate about 30% of their marketing budget to online formats. The percentages of the online budget allocated to the top specific channels look like this:
- Company website 32%
- Email using in-house lists 12%
- Online directories/websites 11%
- Search engine optimization 11%
- Paid search 7%
Social media continues to grow for industrial marketers with LinkedIn being the most popular. 73% of these businesses say they use that network. For the most part, the social media activity is all about content delivery (51%) and branding (49%). Currently, only 17% of surveyed industry firms are happy with their social media results, a number which suggests that the channel will undergo further scrutiny in 2013.
GlobalSpec analysts point out that as targets continue to spend more time online, industrial marketers must shift more of their marketing budgets to digital. Doing so will allow them to reach a broader audience.
The other major recommendation in the study relates to the choice of online formats. Industrials can increase their use of email marketing and banner ad networks and improve their measured ROI on investment at the same time. This holds true for social media as well where industrials can define their objectives for the format and then put measurement tools in place to improve their performance.[Source: Trends in Industrial Marketing. Globalspec.com. 2012. Web. 11 Dec. 2012]