Digital continues its slow but steady gain as a percentage of the total marketing budget. That trend will continue according to the analysts at WebMarketing 123 who have surveyed both B2B and B2C marketers about their 2014 digital plans in their new State of Digital Marketing Report. The surveyed enterprises will focus on 2 key issues regarding digital next year: Discovering which channels are most effective and proving ROI.
There’s only a slight difference in objectives for digital marketing when it comes to business type. B2B enterprises are looking for leads (41%) and B2C operators want to drive sales (40%).
Marketers are no longer so focused on simply measuring website traffic as a key performance indicator (KPI). That number has dropped from 74% to 23% over the past 2 years. However, about 20% of marketers are tracing 30% of web traffic from mobile devices so they are anxious to optimize the results of their investments from that channel.
The number of B2B marketers planning to increase their spending on specific digital programs appears below (B2C enterprise plans are in parentheses):
- Content 69% (53%)
- SEO 49% (42%)
- SEM 36% (29%)
- Social Media 56% (65%)
- Display 44% (8%)
- Email Marketing 47% (44%)
Despite the fixation on new marketing formats, both B2B and B2C marketers report that email delivers the best leads and revenues. But, for many, the attribution is weak. Only 36% can point to a direct link between email marketing and the eventual leads and revenue it brings.
Currently, about half of these marketers are spending 25% or less of their total budget on digital. Analysts believe that number will grow slowly until better ROI measurement tools are developed and widely used. These tools will have to include multi-channel attribution models to properly track the influence from each touch point.
Do any of your clients feel that they are getting closer to accurate multi-channel attribution? Do you agree that lack of good tools will slow the adoption of digital marketing?