Focus B2B Marketing Budget Gains on Business Outcomes to Succeed in 2014
January 8, 2014
B2B Budgets Rise; Demands For What to Spend It on Soar
B2B marketing execs expect budgets to increase by 6% on average in 2014. While this is good news, executive peers expect CMOs to stretch bonus dollars across a broader set of initiatives that extend far beyond campaigns and programs. Technology, data analytics, innovation, and IT support top the list of priorities CMOs must figure out how to fund.
CMOs Must Focus Budget Choices on Customer Engagement
Despite some fairly traditional budget choices, we expect marketing leaders to spend differently and prioritize a short list of tactics -- like local events, thought leadership, videos, and B2B communities -- that create two-way interaction with buyers while accelerating the purchase journey.
A Portfolio Funding Approach Stretches Dollars While Mitigating Risks
Taking a page out of Wall Street's book, smart CMOs should factor benefit and tradeoff criteria into budget choices and lower risks by repurposing key assets for multiple uses, as spending moves from expected to actual. They'll also hedge advertising budgets with innovation slush funds to support new media experimentation.
(Please visit our "Also See" section to the right for the full PDF of the Research Report.)
"Focus B2B Marketing Budget Gains on Business Outcomes to Succeed in 2014." BMA and Forrester, January 2014.
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