Report: Online Marketing Budgets Grew in ’08
ADOTAS – Well, at least some did. This from specialized search engine GlobalSpec, which reports that companies in the industrial sector shelled out more online in 2008.
Thirty percent of respondents reported spending more than 50 percent of their overall marketing budget online in 2008, up from 20 percent of respondents in 2007. On average, 37 percent of the marketing budget is spent online.
Despite the increased shift of marketing dollars to online media, respondents still faced a number of challenges in their marketing efforts. Forty-seven percent of respondents selected “too few marketing resources” as one of their top three marketing challenges this year. Another 31 percent indicated that improving marketing ROI was a challenge for them. And while industrial suppliers are allocating more of their marketing budget online, they don’t always know where to invest: 26 percent of respondents report that determining what online marketing programs work best remains a challenge.
The survey results also show that generating leads remains a top marketing goal – and challenge – for industrial marketers. Seventy-two percent of respondents indicated that either customer acquisition or lead generation was their primary marketing goal in 2008. In addition, quality of leads delivered was considered the most important factor when deciding where to allocate marketing budget, with lead quantity being less important.
No word on whether this trend is expected to continue next year.
Reader Comments.
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