B2B marketing is the marketing of products to businesses or other organizations for use in the production of goods, for use in general business operations, for resale to other consumers, such as a wholesaler selling to a retailer.
The B2B marketing mix report compiles the data from a survey of B2B marketing professionals in healthcare, technology and business services industries. Here are some of its main insights:
Changes in Marketing Budget Spending From 2017 to 2018:
- One-third of B2B companies spend 10% or more of their company budget on marketing.
- 59% of B2B companies increased their marketing spending budget in 2018.
- 37% of surveyed companies didn’t change their marketing budget spending, while only 4% decreased their spending budget.
Top B2B Marketers Spending Areas in 2018:
B2B companies appreciate the point of web presence nowadays, which is why they are spending more of their marketing budget on building up a digital presence through web development, online tactics and strategies.
- 63% of B2B companies reported that website development is the top priority of their marketing spending.
- 53% ranked the tradeshows & marketing events as the second top marketing spending area.
- 47% of surveyed companies said that they invest big in digital marketing.
Top Marketing Objectives in 2018:
Increasing leads for sales teams is one of the most important marketing objectives through the years, marketing objectives need to fit in with the overall business objectives and drive the direction of the marketing strategy.
- Sales leads are ranked as the most important marketing objective with a rate of 67%.
- Leads to customers ranked as the second top objective at a rate of 47%.
- Brand awareness comes next with a rate of 37% as top marketing objective in 2018.
A Graph Shows the Top Areas of Marketing Spending, 2018.