The latest B2B Barometer survey of around 120 B2B marketers and agencies (free to download at www.b2bbarometer.co.uk) shows that optimism is building in the B2B sector, with the majority of agencies and marketers revealing rising revenues and improved future growth prospects. In addition 41% of client marketing professionals reported larger marketing budgets for the next year, but 59% of the agencies surveyed reported a decline in the quality of enquiries and 30% of the agency sample actually experienced declining revenue. The survey aims to provide a true measure of what is happening to business markets right now and will help both clients and agencies make future decisions based on real peer-to-peer information.
Debbie Williams, chair of the IDM B2B Council, said: "The B2B market place is a real barometer of what's happening in business. It is often very difficult for companies and agencies to keep pace with the latest market trends and this series of surveys has proven to be a valuable measure for B2B agencies and marketers. Some very interesting facts about social media and its relevance have been unearthed. I am delighted to be associated with this unique and ongoing survey programme.
Just 28% of B2B marketing respondents actually had a strategy in place for social media. Many of the remaining group are beginning to question its relevance to the B2B sector. However, 86% still insist that spending on social media will increase over the next twelve months. An interesting fact is that 70% of client side organisations still have no social media strategy in place, which is a 7% increase from the last B2B Barometer survey in December 2009. A key issue for client marketers would appear to be the measurement of results, with 79% of those polled indicating that no actual measurement of social media activities was taking place, though 64% of the group believed it was possible!
Many of the professionals surveyed were anxious to increase two-way communication with their clients, and build on customer relationships. It was believed that email marketing could be a more effective tool in relationship marketing.
Data featured again as a critical factor and all those surveyed were in agreement that accuracy and quality in data were critical factors in B2B Marketing.
Measurement was again highlighted as a key area for attention. Suggestions indicated that more integrated systems and better sales force alignment was required to make ROMI (Return on Marketing Investment) more effective. Only 43% of client side respondents actually measured ROMI and the metrics used were the 'easiest' to gather rather than those which would have the greatest benefit for the business.
An executive summary of findings has been published at http://www.b2bbarometer.co.uk. To find out more about B2B marketing budgets, key trends and insights into the use of social media - including how project fees are calculated and how the impact on reputation is managed, go to www.b2bbarometer.co.uk. The new report can be downloaded direct from the site free of charge. Copies of both the original benchmark study and the second survey are also available for free download.
