Your B2B Marketing Budget Strategy for Success [Research]

Let’s stop clinging to cliches and negativity. What lessons have you taken over the past year?

Companies have realized that B2B marketing budgets matter more than they thought. And that their current marketing strategies could be better.

Generic, boring, and uninteresting content

Digital experiences and ads that are personal

Technology and automation are not used well

Ambiguous ROI, direct relationship to sales

Indifference to the changing needs of buyers

To focus on lead generation, ignore customer retention

These problems were not solved until the pandemic-induced depression (yes, technically, it was a recession).

This is precisely what we are seeing right now. Let’s look back at the year and assess the options for moving forward.

Quick Takeaways

Although revenues and general spending have decreased, B2B marketing budgets have remained relatively constant. Executives and managers now understand the importance of a multi-touchpoint digital strategy.

B2B companies are changing their ways and breaking bad habits. They adapt to changing buyer expectations and behaviors by updating their approach. We are shifting away from planning and budgeting for the calendar year to more short-term, agile projects.

B2Bs have limited resources and don’t want to invest in tactics that don’t generate revenue. Marketers must now prioritize quality and find innovative ways to show results.

With our 13-point checklist, you can set your company on the right track by focusing on high-quality interactions and content across multiple platforms.

There’s good news: B2B marketing budgets are not in danger.

We have reached an equilibrium where marketing budgets for B2B seem unaffected by 2020’s casualties in other areas.

We have many studies and surveys about B2B marketing budgets that you should consider. Let’s take a look at them all to find some common themes.

72% of B2B marketers predicted that overall budgets would either grow, stay the same, or decrease by less than 20% in April as the first round was underway.

According to the research, marketers expect to reduce their events budget and move funds to digital avenues such as content, webinars, and online events.

In August, eMarketer reported that B2B ad spending would grow by 22.6%. eMarketer analysts and researchers attribute this shift to content and online events, often requiring paid promotional channels to reach new audience members. It makes sense.

Two studies by Deloitte – Duke University and LinkedIn – Edelman are two examples of objective research.

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