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Marketing Communication
"Study Finds that 79% of Industrial Marketing Execs Will Increase Online Marketing Spending in 2007"
By Bill Norton, Vice President of Marketing
Online marketing budgets are on the rise among industrial marketers with 79% increasing their online marketing budgets in 2007, according to the results of an annual survey of industrial marketing executives conducted by SVM E Business Solutions in cooperation with Fernley & Fernley, Inc. The study, which surveyed more than 350 marketing executives at U.S. based manufacturing and industrial distribution firms, found that online marketing is producing tangible results for industrial marketers, and the vast majority of respondents plan to ramp up their online marketing efforts to address their most important business challenges in 2007. "The consistent growth in online marketing spending is a clear indication that industrial marketers recognize the true power of the Web," said Bob DeStefano, President of SVM E-Business Solutions. "Manufacturers and distributors that have truly embraced online marketing understand how the online medium enhances their ability to drive revenues and profits in ways no other medium provides." Among many significant points, the 2007 E-Business Trends in Manufacturing Report identified the following key industrial marketing trends:
- Industrial marketers consider online marketing more effective than traditional marketing
- Marketing budgets continue to shift online at the expense of traditional marketing
- Lead generation is the top online marketing opportunity for manufacturers and distributors
- Companies with a sound and effective online marketing strategy are three times more likely to produce results
"In today's global economy, a well developed online marketing strategy is a company's best course of action to level the playing field with companies who have a larger sales force or marketing budget," said Taylor Fernley, President & CEO of Fernley & Fernley Inc. "The results of this study reinforce the need for associations and professional societies to develop and deliver education and member programs that support effective online strategies."
To download a copy of the 2007 E-Business Trends in Manufacturing Report, please go to www.svmsolutions.com/survey.