Everybody knows that 2009 was a tough year, with marketing budgets in particular feeling the strain. Yet things are looking more promising for 2010 already – and on both sides of the Atlantic!
A survey conducted at the end of 2010 in the United States showed good news for marketers after a year in which 60% of b-to-b marketers slashed their budgets. BtoB’s “2010 Outlook: Marketing Priorities and Plans” report, based on an online survey of 376 B2B marketers, found that although almost half plan to maintain their existing budgets, nearly 40% will increase spending in 2010. Just 13% will be reducing their marketing spend this year.
As with last year, online marketing – including website development, e-mail marketing, search, social media, online video and webcasts – looks set to see the biggest boosts. This medium is widely acknowledged as being both cost-effective and measurable. Spending on innovative direct marketing and customer events both look set to rise also. More about this report can be found here.
Meanwhile, in the UK, the latest IPA/BDO Bellwether report indicates that optimism and confidence are growing. In spite of the report showing a ninth consecutive quarter of declining marketing spend, the rate of decline is clearly slowing. Spend is down only 7% compared to 15% in the previous quarter.
Indeed, marketing budgets for 2010 have been set higher than those in 2009 and, with 35% of businesses surveyed seeing improved prospects, companies are the most optimistic they have been for the past five years.
As with the trends seen in the US, online advertising budgets were revised upwards for the second quarter running while direct marketing budgets have also increased (by 2.2%) for the first time since 2007.
Why not read our white paper, Marketing Strategies in a Recession?
