Some 51 per cent of business-to-business (B2B) marketers believe their budgets will rise this year, a new study has suggested.
Research from Forrester found that this figure marks a rise from the 31 per cent who expected an increase in 2014, while the majority of respondents were content with keeping their budgets the same as in 2013.
The group found that marketers are “bullish” regarding their 2015 B2B budgets, though a shift in strategy may be required to make this added investment more effective.
Some 45 per cent of marketers admitted they struggle to attribute programme spending to revenue results, whereas more than a third have admitted that it is challenging to justify program plans to business leadership.
Forrester found that 48 per cent of respondents would increase spending on digital, whereas 45 per cent said they would prioritise content marketing as part of their spending.
The study discovered that marketing leaders will prioritise tactics such as dashboards, digital tools, innovation labs, multimedia and technology road maps that hope to create more engaging experiences for customers.
“Shift from your historical communications, promotion, and lead management focus to take responsibility for turning the enterprise toward the customer and creating more engaged customer relationships that also derive new insight from each encounter.
“Then factor risk and reward criteria into your marketing mix choices based on how well programs create differentiated experiences that customers value,” the research paper read.
Digital marketing is becoming an increasingly competitive industry, with companies across the country competing to gain a larger market share.
Whether it is social media, video marketing or email marketing, there are many different options for companies to explore when aiming to promote their products and services effectively.
Organisations need to identify their strengths and weaknesses before deciding where to invest their cash for marketing, rather than simply spending money with little thought or direction.
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