Outsell Inc. shared the results of their Annual Advertising and Marketing Study 2015: B2B Advertising. The study answers critical questions that vendors and publishers must understand about “how much,” “on what,” and “where” marketers and advertisers will spend their budget money this year. Here are some key takeaways:
- At almost $77 billion, B2B digital spending far outpaces other categories. Within digital, webinars posted the highest growth rate (almost 19%). Spending on companies’ own websites led growth in absolute dollars, adding $1.1 billion over 2014. Spending on companies’ own social engagement activities surpassed ad spending on social networking sites.
- Applying analytic insights to marketing remains a challenge and marketers need help with what is now a concerted and essential effort to deal with an increasing velocity of data.
- Marketing services have helped to revive publishers and address key advertiser needs in the form of customized solutions rather than transactions based on rate cards. It is incumbent upon publishers to reclaim revenue by adding value to marketers in their direct to customer activities.
- The age of marketers influences perception of ROI and impacts decision-making. For lead generation effectiveness, Facebook has all but matched LinkedIn for marketers under 40.
Based on this analysis, Outsell presents some essential actions for vendors and publishers who want to maximize their opportunities in the marketing and advertising space:
1. Set strategies, tactics, and skills to capture solid growth across all media types
With solid but modest 4.5% total growth, and shrinking spending on 11 out of 36 marketing methods, media companies win by focusing on what Outsell’s study demonstrates are areas of growth, representing the elements most important to marketers, and by solving their key pain points and helping them boost their highest ROI-generating activities.
2. Win competitive advantage using marketers’ pervasive demand for actionable analytics
Analytics run pervasively through every marketing method and across all media, not just digital media. Marketers perceive that digital, live events, and print produce superior results to a single media, but they are under increasing pressure to demonstrate the analytics-supported ROI of the marketing budgets they submit. They understand the power of D2C marketing but have a proliferation of methods to use, and they will be influenced by analytics demonstrating performance differences. Media companies win competitive advantage by using their extensive audience encounters to generate analytics and sharing them with marketers.
3. Rework offerings to claw back revenue by supporting dominant D2C spending
With D2C spending growing 72% more than total marketing spending, and the suppliers up for grabs that marketers will pay to deliver their D2C objectives, media companies have a chance to claw back revenue lost to D2C. Opportunities for media companies lie in content, highly prequalified leads (media companies’ readers), custom events services including driving attendance, and advisory services on the best marketing methods for specific objectives.
4. Move from discrete media to marketing services and “mastery of the mix”
Stop selling from a menu of discrete media and move to an environment of listening, consultative, and solutions selling. Make the baseline by offering marketing program audits that work backward from analytics and that profile audience and customer needs. Accept the requirement to add new skills and dedicated staff to deliver on this major opportunity.
Source: Outsell Advertising and Marketing Study 2015