Spending to quadruple as B2B marketers warm to new channels

by Bethan Jones

NEWS

Mobile and social channels will be the fastest growing areas of business-to-business marketing spend, analysts have predicted.

The cash splashed on B2B mobile marketing in the US is set to quadruple over five years – rising from $26m in 2009 to $106m in 2014, according to a report from analyst Forrester.

The rise and rise of the smartphone in the enterprise means marketers are waking up to the mobile channel as a valuable tool for getting their message across, the report said.

Spending on social media marketing in the US is also set to boom, reaching $54m in 2014 – up from $11m this year.

According to the report, businesses must interact with their customers in order to get the most from their social media spend.

“Explore the use of cost-effective social marketing tactics like blogs and Twitter that allow you to connect and converse with your customers, and use display advertising to build excitement around your products and direct customers to these more immersive experiences,” the report said.

Forrester raises a caution flag, however, against businesses diving into social media without a firm strategy in place. The report suggests setting up a social media hub that spans all areas of the business: “We recommend creating a cross-functional social media committee or centre of excellence to develop social media strategy, process and guidelines,” it said.

Marketing spend across all interactive marketing channels – including paid search, display media, SEO, mobile and social – is expected to double from 2009’s figure of $2.3bn, climbing to nearly $4.8bn in 2014, the report added.

Increased spending on digital marketing has been stimulated by the need for marketers to avoid expensive offline campaigns and adopt channels where ROI can be more readily proved, Forrester said.

My comment:

Thank you Bethan for this information.  It is hard to believe that I so much money is going to be available out in the market.  The days of newspaper ads and yellow page deals are pretty much counting their days to extinction.  If your marketing proposal doesn’t come with an application that works on Iphone, has an ad on Facebook, an immediate tweet on Twitter, or any one of the several social marketing techniques, it may go without saying that you have a very good chance of not getting the contract.

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