After several years of making cuts, B2B marketing leaders are increasing their budgets 6.7% in 2011 over 2010 levels, with tech-services companies driving much of the expansion, according to a report by Forrester Research.
Tech-services companies plan to increase marketing budgets 17.0% on average in 2011. Other sectors planning increases include the following:
- Finance and insurance: 7.8%
- High-tech products: 5.9%
- Business and professional services: 4.3%
- Manufacturing: 4.3%
By contrast, pharmaceutical companies and medical device manufacturers are reducing spending in 2011, roughly 2.8% on average from 2010 levels.
Below, other findings from the report, Bigger B2B Marketing Budgets Come With Great Expectations, based on a survey of 563 global marketing executives.
The three biggest B2B investment areas in 2011 are product marketing and management (21.3%), lead origination (15.7%), and branding (13.5%).
B2B brands continue to gradually shift priorities to better align themselves with today's buyers:
- Community and interactive marketing is expected to account for 7.4% of 2011 budgets, up 0.9 points from 2010.
- Lead nurturing is expected to account for 7.2% of spending, up 0.8 points from a year earlier.
About the data: Findings are from Forrester's survey of 563 global marketing executives, conducted in the fourth quarter of 2010.
Looking for great digital marketing data? MarketingProfs reviewed hundreds of research sources to create our most recent Digital Marketing Factbook (May 2010), a 296-page compilation of data and 254 charts, covering email marketing, social media, search engine marketing, e-commerce, and mobile marketing. Also check out The State of Social Media Marketing, a 240-page original research report from MarketingProfs.
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