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Benchmarking shows B-to-B marketing budgets have been cut by roughly 44 percent, but spending on pipeline acceleration programs has doubled
A recent press release from SiriusDecisions states that based on the company’s business-to-business benchmarks:
- Roughly 44 percent said their marketing spend for 2009 will be reduced;
- The hardest hit marketing budget categories are advertising (down 17 percent) and events (down 12 percent);
- 25 percent said marketing spending will remain about the same as in 2008.
However it appears that some B-to-B marketing initiatives are getting more funding rather than less.
“We estimate B-to-B companies are doubling their number of pipeline acceleration programs instead of focusing on new leads,” says Alden Cushman, SiriusDecisions’ research director and benchmarking analyst.>
In my opinion B-to-B marketers traditionally spent too much of their marketing budget on lead generation, but spent too little on lead development. I’m glad to see that this may be changing.
What’s happening at your company?
- Has your marketing budget been cut? If so, what got cut?
- If you are one of the minority of B-to-B marketers with a larger marketing budget, what are you spending the extra money on?
- Has your company shifted its marketing spending from lead generation to lead development?
Thanks for sharing the SiriusDecisions PR.
You’re absolutely right about spending too much marketing budget on lead generation when we should be focusing on lead development. The latter is often mislooked as marketers usually worry about not getting enough leads. Thanks for reminding us that it’s lead nurturing that truly matters.
Posted by: zsa zsa | Mar 9, 2009 at 1:27 am
Very interesting. I see the same movement in the German Market. B2Bs are shifting their budgets from print ads to online activities. Events budgets for events and fairs are decreasing. Not only caused by the financial crisis, even more because of more transparency and efficiency of online marketing.
Posted by: B2B Online-Marketing Blog | Mar 29, 2009 at 6:10 am
Thanks for sharing this article.
Jason Price
jprice@walkersresearch.com
http://www.walkersresearch.com/emaillists.asp
Posted by: Jason Price | Apr 1, 2009 at 6:50 am
[...] En las conversaciones habituales con responsables de expansión de franquicias llama la atención el descenso en el número de candidatos que preguntan por las franquicias en general. La tendencia en época de crisis es recortar los presupuestos en generación de contactos Y duplicar los programas de MEJORA DE LAS VENTAS (estudio de SiriusDecisions). [...]
Posted by: Gestionar contactos en tiempos de crisis | Sobre Franquicias | Apr 6, 2009 at 11:45 am
This is consistent with what we’re hearing when talking to customers. Our customers are buying because they need email marketing, automated lead nurturing, and real-time data integration to sales to enhance not only marketing effectiveness, but sales productivity.
Posted by: Scott Mersy | Apr 7, 2009 at 7:54 pm
I have to say that they have to be many companies out there that have had to cut back on something during the recession and marketing being one of them, as this is where many companies spend their most, so once things start looking up again so will the marketing budgets. Interesting post indeed, thanks for sharing.
Posted by: Wendy | Aug 6, 2009 at 3:27 am
Thanks for sharing the SiriusDecisions PR.
You’re absolutely right about spending too much marketing budget on lead generation when we should be focusing on lead development. The latter is often mis looked as marketers usually worry about not getting enough leads. Thanks for reminding us that it’s lead nurturing that truly matters.
Regarding the post by zsa zsa on Mar 9, 2009 at 1:27 am:
This person has really hit it on the nail, in these times we have to spend our monies wisely and make sure that the way we do is beneficial to us in converting that lead into a sale. Interesting article.
Posted by: Sue | Promotional Gifts | Aug 7, 2009 at 4:16 am