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B2B digital marketing spend – does it add up?

We’ve been running the sums on the latest IDM B2B Barometer, to see if the figures stack up in terms of companies’ B2B digital marketing spend, and it makes for interesting reading.

First of all, the headline statistic has to be that 56% of marketers have seen their budget increase in the past 12 months – the highest on record in the five-year history of the survey.

Next, let’s recognise the current proportion of total budgets spent on B2B digital marketing channels, including 15% on email marketing campaigns, 12% on website development, 10% on SEO and PPC (combined), 7% on content creation, 5% on social media, and 3% on online advertising.

We calculate that as 52%, but the IDM says only 39% of the typical budget was spent on digital marketing in Q1 2014.

Either way, it looks like digital marketing spend is set to grow substantially by the time the next B2B Barometer is compiled.

When asked, respondents expected a net change of 50% in spend on content creation, 45% on social media, 40% on SEO/PPC, 37% on website development and 36% on email campaigns.

All of these rank higher than any non-digital marketing channels, and even online advertising (not including PPC) is set for growth of 15%.

One thing is clear – the future of B2B digital marketing is bright, and is likely to be based on an all-encompassing multi-channel approach for those who are prepared to allocate sufficient budget to their campaigns.