Where is the Future of B2B Advertising?
Posted by Matt Krautstrunk on May 3, 2011 in Marketing [ 1 Comment ]
The future is now. With the recession behind us more and more B2B companies are reinvesting their money back in to marketing and advertising. According to a recent Forrester report, “B2B marketing leaders are increasing their budgets 6.7% in 2011 over 2010 levels.” Although much of this growth is coming from tech-service companies, it’s positive to see other industries increasing their ad spend.It seems promising that the business ecosystems is functioning, and ad spend is typically an indicator of future business growth.
Where are you focusing your ad dollars in 2011? According to Forrester, the three areas most B2B firms are investing in are product marketing and management, lead generation and branding. In order to position themselves with buyers they must position themselves in new interactive spaces as well.
According to a study by the IAB, “more than 69% of marketers, and 55% of agency professionals say they plan to grow digital video advertising spending 22% in 2011.” Small businesses are potentially more apprehensive to the technology; agencies plan to spend 19% of display ad budgets on digital video advertising where marketers are allocating 15% of their budgets to digital video advertising.
DVA is more trackable and targetable and DVA production is less expensive, making it more cost efficient.
Recessionary ad spend has created a gap in ad spend, according to eMarketer, “The internet, by contrast, took up 25.2% of adults’ daily media time in 2010, but received just 18.7% of US ad spending.”
Here are some other booming industries, according to Forrester:
- Tech-services increasing marketing budget 17%
- Finance and Insurance 5.9%
- Business and professional services 4.3%
- Manufacturing 4.3%
It seems that although the marketing budgets are shifting toward product marketing, a significant portion of B2B budgets are focusing on branding. Under the branding umbrella term falls, community and interactive engagement. According to the same Forrester report, 7.4% of B2B marketing budgets will be comprised of social and community marketing. Although community and interactive marketing is a relatively young platform, I would think that marketers would be even more aggressively hiring and spending in social and interactive spaces.