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WHAT WORKS IN B2B MARKETING 2010Original Research on B2B Marketing Budgets, Strategies, Tactics, and Trends From MarketingProfs and Forrester Research
FULL REPORT
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2MarketingProfs What Works In B2B Marketing 2010
Introduction Marketing is the most rapidly changing business discipline today, due largely as result of advances in information technology. Now, buyers are fully informed about alternative choices in any product or service category, and sellers have complete customer intelligence to establish prospects and customer engagements with the right product and appealing offer at the right time. Throughout this dramatic transformation, MarketingProfs has been devoted to the mission of publishing marketing know-how to produce the best marketers in the world.
To help fulfill our mission, we remain committed to conducting research to explore the trends in the practice of B2B marketing. We are gratified to have collaborated with Forrester Research for the past three years on an annual tracking study focused on strategies and budgets. The research con-sistently identifies changes in what is working, which gives our members insight into best practices and understanding of how to improve their strategies and tactics.
In 2010, for the first time, MarketingProfs supplemented this research with an additional original survey to produce an expanded report on issues affecting B2B marketers. With one of the largest communities of marketers in the world, MarketingProfs can develop surveys with large sample bases, which produce results that more accurately reflect the complete population of B2B market-ers and allowing for detailed analysis of segments. The full report has more than 100 charts, each offering insight into specific questions in various ways to ensure relevance for all marketing challenges.
Combining these two data sources, this short summary broadly covers some of the key develop-ments identified by the research. This document covers only a few trends, with more comprehen-sive reports of specific details to come in future documents.
We welcome your feedback and input to help us give you the information to best serve your needs.
Sincerely,Roy YoungPresidentMarketingProfs
3MarketingProfs What Works In B2B Marketing 2010
Executive SummaryBoth B2B and B2C marketers have had a rough year. They’ve had to do more with less because of budget cuts and increasingly inefficient traditional media markets. Our study finds, however, that the common trait of the marketers successfully navigating through this hostile climate is great tenacity. And that tenacity is reshaping the way marketers are doing business.
Media plans are leaner, more efficient, and more integrated, and marketing strategies are more likely to be data-driven. Other changes include:
• Marketing budgets are now returning to 2008 levels after a significant decrease in 2009.• Budgets migrated from traditional media to less expensive new media options and “smart”
marketing technology.• B2B marketers were late to the social media party, but quickly became proficient at using
Twitter and LinkedIn to drive sales and generate leads.• B2B marketers are starting to see the benefits of brand awareness now that new media has
made the tactic more targeted, efficient, and affordable.• Investments in marketing technology are on the rise, and a small but growing number of B2B market-
ers are reporting that their companies are aggressive about marketing tech investment in 2010. Though all this hard work seems to be paying off, there is still much to do. Many B2B marketers have trouble handling leads successfully. And investment in database integration, lead nurturing, lead scoring, and CRM technologies is still lagging.
4MarketingProfs What Works In B2B Marketing 2010
Though deeply slashed in 2009, marketing budgets in 2010 are starting to return to normal. Nearly twice as many of the B2B marketers surveyed in January expect their 2010 budget to be bigger this year (46.2%) than their peers did in 2009 (25%).
10.1%
43.8% 46.2%
33.5%
41.5%
25.0%
0%
20%
40%
60%
Decrease No change Increase
2010 2009
Source: Forrester Research and MarketingProfs Marketing Budgets and Tactics Survey Methodology: Online survey of 416 B2B professionals in January 2010 and 656 B2B professionals in January 2009 Chart Base: B2B marketing professionals, 2010 n=416, 2009 n=656
Expected Budget Change for next Year vs. Prior Year Q: Do you expect your marketing program budget to change?
5MarketingProfs What Works In B2B Marketing 2010
B2B marketers have a reputation for being fairly conservative regarding marketing budgets and tactics. With increasing budgets and rapid changes in the media landscape, B2B marketers are becoming more aggressive with their marketing technology investments.
12.5% 16.8%
39.2% 37.2%
32.0% 32.5%
16.3% 13.6%
0%
20%
40%
60%
80%
100%
2010 2009
Very Aggressive: We Frequently Adopt Emerging Technologies
Somewhat Aggressive: We Adopt Technologies That Prove Effective
Not Very Aggressive: We Adopt Technologies in Line With Trends
Not at All Aggressive: We Only Adopt Tried and True Technology
Source: Forrester Research and MarketingProfs Marketing Budgets and Tactics Survey Methodology: Online survey of 416 B2B professionals in January 2010 and 656 B2B professionals in January 2009 Chart Base: B2B marketing professionals, 2010 n=406, 2009 n=656
Aggressiveness of Company Investment in Marketing Technology
Q: How aggressive is your company when it comes to investing in marketing technology?
6MarketingProfs What Works In B2B Marketing 2010
Lead generation (53.2%) and increasing awareness (46.5%) came in as the top two challenges of 2010. B2B marketers are hungry for new business, but the question is how to get it. We will examine this next.
“Improving lead quality” came in strong at 43.3%. However, most B2B marketers are still “con-sidering” investment in the technology and tactics to make this happen than are actively investing. This is likely the unfortunate side effect of number five on the list: “working within budget and/or economic constraints.”
21.3%
21.5%
23.3%
23.3%
26.7%
27.0%
27.7%
34.2%
34.9%
39.4%
43.3%
46.0%
46.5%
53.2%
0% 10% 20% 30% 40% 50% 60%
Improving Customer Data Quality and Availability
Deepening Insight/Relationships with Existing Customers
Allocating the Marketing Budget Across the Mix
Making Partner Relationships More Productive
Enabling Sales Better, Improving Sales Support
Understanding Buyer/ Prospect Behavior
Retaining Customers, Developing Loyalty
Developing the Company's Brand
Demonstrating Marketing Results/ Impact on the Business
Working Within Budget and/ or Economic Constraints
Improving Lead Quality
Reaching Decision Makers
Increasing Product/ Service Awareness
Generating More Leads
Source: Forrester Research and MarketingProfs Marketing Budgets and Tactics Survey Methodology: Online survey of 416 B2B professionals in January 2010 Chart Base: 416 B2B marketing professionals
Top B2B Marketing Challenges in 2010 (Please select up to five responses)
7MarketingProfs What Works In B2B Marketing 2010
Because B2B marketers are almost obsessive about leads, we asked them what the most effective traditional/offline marketing tactics for generating leads are. Despite tried and true sales calls remain-ing stable and strong, we found quite a shake-up in the data for other media year over year. Hosting executive events dropped from first to third place (∆ - 13.5%), while PR (∆ - 10.3%), TV (∆ - 14.3%), and radio (∆ - 9.9%) all took major hits. The only traditional media option that saw real positive movement is in-person meetings at trade shows and conferences (∆ + 11.4%).
7.8%
17.6%
25.8%
10.5%
11.6%
24.5%
16.8%
49.7%
28.7%
46.3%
6.9%
7.7%
11.5%
12.7%
13.3%
14.2%
19.0%
36.2%
40.1%
47.6%
0% 10% 20% 30% 40% 50% 60%
Print Advertising
Radio
TV Advertising
Sponsorships
Outdoor Media
Public Relations
Direct Mail
Executive Breakfasts, Seminars and Events
Tradeshows, Conferences (In Person)
Inside Sales/Telemarketing (Internal or External)
2010
2009
Source: Forrester Research and MarketingProfs Marketing Budgets and Tactics Survey Methodology: Online survey of 416 B2B professionals in January 2010 and 656 B2B professionals in January 2009 Chart Base: B2B marketing professionals, 2010 n=406, 2009 n=656
Traditional/Offline Marketing Tactics Found Highly Effective for Generating Leads 2009 vs. 2010
(% Finding Tactic "Highly Effective")
8MarketingProfs What Works In B2B Marketing 2010
The study showed some positive movement and continued strength in using online marketing options, such as webinars and webcasts (35.8% “highly effective”), for generating leads. The workhorses of nearly every online marketing plan—search, email, and a corporate website— demonstrated continued strong performance. Newer entrants to the marketing mix, such as social networks and widgets, did not see such strong numbers, even though social networks still managed to outperform PR. Also, podcasts and rich media outperformed TV advertising, and blogs beat out print.
3.8%
13.1%
10.7%
6.6%
19.5%
25.1%
30.7%
28.1%
20.8%
33.1%
5.0%
8.2%
10.4%
10.5%
10.5%
12.7%
15.3%
15.5%
24.5%
27.9%
33.1%
35.8%
0% 10% 20% 30% 40%
Other Web 2.0 tools: RSS subscriptions, mashups, widgets, wikis
Online video (i.e. YouTube, corporate)
Twitter*
Blogs
Online display ads: banner, pop-ups
Discussion forums, social networks, or communities*
Discussion threads, support forums*
Podcasts or other rich media*
Social networks or online communities (i.e. LinkedIn)*
Email or electronic newsletters
Company Web site
Search marketing (includes search engine optimization and paid placement)
Virtual trade shows*
Webinars, webcasts
2010 2009
Source: Forrester Research and MarketingProfs Marketing Budgets and Tactics Survey Methodology: Online survey of B2B Professionals, 416 responses collected January 2010 and 656 collected January 2009;* question not repeated in both 2009 and 2010 Chart Base: B2B Marketing Professionals: 2010=416; 2009=656
Online Marketing Tactics Found Highly Effective for Generating Leads 2009 vs. 2010
(% Finding Tactic "Highly Effective")
9MarketingProfs What Works In B2B Marketing 2010
In March 2010, MarketingProfs Research surveyed a second group of B2B marketers. Looking at how media is working out, we simultaneously compare use, volume of sales, and ROI. By placing offline and online media vehicles on the same playing field, we can quickly see what is performing—and what is not. In the upper-right-hand corner, email marketing to house lists and online content show that they are performing well. Both have high usage, strong ROI, and relatively high volumes of sales. However, email list rentals do poorly despite the otherwise strong return on email marketing. Advertising in someone else’s email newsletter scored high marks for ROI but low volume of sales. The second tier appears to be search, direct mail, and print advertising. All provide a high volume of sales, but print lags a little on reported ROI. Online-only PR performs well (just a bit better than traditional PR). Mobile and out-of-home did reasonably well but have relatively low usage numbers. Both managed to beat out TV advertising and online display advertising.
Radio Advertising
32.5%
E-newsletter Advertising
(not your list) 43.1%
Online Display Advertising
52.6% Television Advertising
27.4%
Traditional Public Relations
75.5%
Online-Only Public Relations
(including social media) 78.1%
Mobile Advertising, Including Apps
26.3%
Out-of-Home Advertising
(billboards or digital signage) 32.1%
Direct Mail (snail mail)
60.2%
Search Engine Marketing
(PPC & SEO) 76.6%
Print Advertising
67.5%
Email Marketing (your own list)
89.4%
Online Content (websites, blogs,
podcasts) 91.2%
1.25
1.50
1.75
2.00
2.25
2.50
2.75
3.00
3.25
2.75 3.00 3.25 3.50 3.75 4.00 4.25 4.50
RO
I
Sales Volume
Bubble size represents % Use
Source: MarketingProfs March 2010 Survey Methodology: Online survey of 3,449 MarketingProfs readers Chart Base:274 B2B marketing professionals
B2B Marketers Rate Media by Volume of Sales and ROI For sales volume, 1 = very low volume, 10 = very high volume
For ROI, - 5 = very bad ROI, + 5 = very good ROI, 0 = break even
Traditional Media Digital Media
10MarketingProfs What Works In B2B Marketing 2010
With 15.5% of B2B marketers finding social networks “highly effective” for generating leads, they clearly deserve attention. However, social networking for business can be a nebulous topic. The term is often defined differently from one person to another or one business to another. For this reason, we broke out different types of social media activities to find out which is getting more attention from B2B marketers. Social activities that combine a one-to-many broadcast element with one-on-one interaction seem to be the most popular (62.9% plan to use more), while virtual worlds, such as Second Life, garner significantly less enthusiasm among B2B marketers (38.4% plan to use less).
4.5%
13.4%
19.8%
22.3%
31.4%
48.3%
53.7%
62.9%
57.2%
64.6%
57.2%
55.0%
57.4%
42.3%
39.4%
30.4%
38.4%
22.0%
23.0%
22.8%
11.1%
9.4%
6.9%
6.7%
0% 20% 40% 60% 80% 100%
Virtual Worlds (Second Life, etc.)
Wikis (e.g., Wikipedia, Vendor Sponsored, etc.)
Private or White-Label Online Community Sites
Virtual Trade Shows or Virtual Conferences
Discussion Threads, Support Forums
Microblogs (Twitter, etc.)
Blogs
Open, Public Social Networks (Facebook,
LinkedIn, etc.)
Plan to use MORE of this tactic
SAME use in the 2010 mix as compared with 2009
Plan to use LESS of this tactic
Source: Forrester Research and MarketingProfs Marketing Budgets and Tactics Survey Methodology: Online survey of 416 B2B professionals in January 2010 Chart Base: 404 B2B marketing professionals
Expected Change in Use of Social Media Tactics for 2010
11MarketingProfs What Works In B2B Marketing 2010
Looking at how B2B marketers are using social media and comparing that to the full sample of all marketers, we see again a huge emphasis on lead generation. B2B marketers are slightly more likely than average to be concerned with using social media to increase brand awareness. This reflects a particular savviness among the group, given that the main deterrent to the strategy has traditionally been the high cost of reaching niche targets within broadcast media, an obstacle that social media easily overcomes.
0.8%
2.4%
1.6%
3.3%
4.1%
4.1%
6.5%
10.6%
7.3%
17.9%
41.5%
0.8%
2.3%
2.5%
3.3%
4.0%
5.3%
9.0%
12.1%
14.6%
17.3%
28.9%
0% 10% 20% 30% 40% 50%
Increasing Staff and Budget to Support our Social Media Strategy
Not Applicable
I Don't See Any Value in Marketing Through Social Media
Not Sure
Tracking My Social Media Efforts Back to Bottom-Line Business Benefits
Finding the Right Tools and Services to Help Me Market Using Social Media
Building Positive Sentiment About My Company and Products
Building customer Loyalty and Retention
Developing a Strategy for How to Best Leverage Social Media
Increasing Brand Awareness
Lead Generation and New Customer Acquisition
% of Total
% of B2B Marketers
Source: MarketingProfs March 2010 Survey Methodology: Online survey of 3,449 MarketingProfs readers Chart Base: 398 marketing professionals, 123 B2B marketing professionals
Most Important Social Media Marketing Goal for 2010 B2B Marketers vs. All Marketers
12MarketingProfs What Works In B2B Marketing 2010
A by-product of focusing on lead-generation is an onslaught of data and a pool of prospects that are often too large for sales staff to handle efficiently. Happy with neither the drought of leads before alead-generation campaign nor the monsoon of often poorly converting leads after one, sales depart-ments have increasingly been turning to technology to help automate the process, triage leads, keep relationships fresh through long purchase cycles, and more efficiently use their time on the phone and in person. Surprisingly, B2B marketers are actually less likely than average to take advantage of many of these technologies. However, this is a huge area of opportunity for B2B marketers hoping to increase the effectiveness and efficiency of their sales funnel.
33.7%
37.4%
18.0%
12.5%
41.3%
43.5%
25.2%
21.9%
34.2%
32.5%
33.7%
33.0%
36.6%
46.4%
28.0%
31.3%
35.4%
40.4%
34.2%
33.3%
32.6%
29.6%
45.4%
41.1%
30.7%
25.2%
39.4%
37.7%
31.6%
34.2%
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Total
B2B
Total
B2B
Total
B2B
Total
B2B
Total
B2B
Lead
Nur
turin
g Le
ad S
corin
g Le
ad
Man
agem
ent
Mar
ketin
g A
utom
atio
n D
atab
ase
Inte
grat
ion
Currently Using Considering, But Not Using Not Currently Using
Source: MarketingProfs March 2010 Survey Methodology: Online survey of 3,449 MarketingProfs readers Chart Base: 394 marketing professionals, 117 B2B marketing professionals
CRM and Database Marketing Tactics Used in 2010 B2B Marketers vs. All Marketers
13MarketingProfs What Works In B2B Marketing 2010
B2B marketers have an advantage over other marketers in organizational integration. They are particularly successful at integration during the early stages of marketing, with 48.2% reporting that they are “very integrated” in the creative strategy phase, and 45.5% reporting the same during the media planning phase. Being “very integrated,” however, drops into the mid-30% range for analytics, attribution of sales to marketing, and customer relationship management. There is an opportunity for improvement for any willing to invest the mental energy and appropriate budget into database integration, lead nurturing/scoring, and an integrated CRM program.
27.0% 31.5% 32.5% 34.6%
23.9% 20.8%
24.2%
38.9%
48.2% 45.5% 44.5%
35.8% 31.8%
35.8%
0%
20%
40%
60%
Research and Planning
Creative Strategy Media Strategy Marketing Execution
Marketing Analytics Attribution of Sales to Marketing
Customer Relationship
Management
All Marketers B2B Marketers
Source: MarketingProfs March 2010 Survey Methodology: Online survey of 3,449 MarketingProfs readers Chart Base: 364 marketing professionals, 113 B2B marketing professionals
Incidence of "Very Integrated" Marketing Organizations by Process B2B Marketers vs. All Marketers
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