How are business to business organizations distributing their marketing budgets?
• Trade magazines 23%
• Trade Shows 18%
• Direct Mail 10%
• Promotion/Market Support 9%
• Dealer/Distributor Materials 5%
• General magazine advertising 6%
• Internet/electronic media 9%
• Directories 5%
• Telemarketing/Telecommunications 3%
• Publicity/Public Relations 7%
• Market Research 4%
• Other 1%
Total 100%
(Source: Cahners Advertising Research Reports)
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One comment
Mark Allen Roberts
September 8, 2008 at 1:06 am
Very interesting …and disturbing
When I encounter someone who shares their marketing budget spends as indicated (and most do) I ask a simple question….How’s that working for you?
If they state “great, sales growth is at 2X that of competitors, profits are averaging 30% higher and customer satisfaction is 20% greater than competitors…” I say great keep spending as you are.
However most B2B companies are not meeting performance as indicated. So we start discussing the definition of insanity, and doing the same thing that is not working, and expecting different results.
Still leaders cling to the past, are stuck in a place they feel safe often associated to a time much earlier in their careers when they were Tuned In to their market. However time has passed and markets have changed.
In a discussion with David Meerman Scott he has a brilliant way of convincing the most stubborn CEO of considering new thought processes regarding his marketing spend. He simply asks a few questions that quickly help B2B company leaders rethink their “traditional” position. (David does a much better job than my paraphrase below, but you will get the idea)
1. In the last ninety days how many times have you seen a print ad in a trade journal and acted on it because it was a perfect solution to a problem you had?
2. In the last year, how many times have you attended a trade show trying to find a solution to a problem you had?
3. In the last 30 days, how many times have you, or someone who works for you, done a Google search to find a solution to a problem you had?
In recent surveys, we found between 5% – 20% use print ads and trade shows to solve problems. However, 80% – 100% said they use web search engines like Google to find solutions to problems. Or ask a CEO if the last time he asked someone in his network for help, if he received an email response with a link to information.
If you are spending big dollars on print ads, trade shows and direct mail, while your potential buyers are searching for you on the web, how’s that working for you?
Mark Allen Roberts
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