Facebook rated most effective
Overall, US business-to-business (B2B) advertising and marketing spending will increase by a tiny 0.8% this year, to $129 billion, according to Outsell’s “Annual Advertising and Marketing Study 2010.” Interactive spending will climb a more encouraging 9.2%, to $51.5 billion.
B2B marketers will increase spending on some interactive tactics significantly more than average. Marketing spending on social networking sites is predicted to rise 43.3%.
Mobile marketing spending, on the other hand, is the only digital channel in which Outsell expects a drop in B2B marketing spending. The firm predicts it will fall 38% to $202 million.
Asked to rate the effectiveness of specific social media sites in their marketing efforts, more than one-half of respondents said that Facebook was “extremely” or “somewhat” effective. Somewhat fewer said the same of LinkedIn, and just 35% considered Twitter effective.
In contrast, when HubSpot surveyed B2B companies in North America about lead generation through social channels, 45% rated LinkedIn effective, compared with just 33% who said the same of Facebook.
According to research from Duke University’s Fuqua School of Business and the American Marketing Association (AMA), B2B product marketers were spending an average of 3.4% of their marketing budgets on social media in February 2010, and B2B services marketers were spending 6.5%. Respondents expected those proportions to reach 7.4% and 11%, respectively, over the next year.
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Check out today’s other article, “BRIC Mobile Giants Begin to Mature.”