East Greenbush, NY — As the economy continues to rebound, companies in the industrial sector are putting more dollars into marketing and spending more of it online, according to research published by GlobalSpec.
The company conducted a survey of industrial marketers and results and recommendations are available in a company report, “Trends in Industrial Marketing 2010: How Manufacturers are Marketing Today.” GlobalSpec is a specialized search engine company for engineering, industrial and technical communities.
One of the most noteworthy trends is the optimism surrounding the economic upturn. In 2010, 70% of companies anticipate an increase in sales, compared to 2009, when only 16% expected it.
At the same time though, industrial marketers reported their biggest challenges continue to be limited resources, lack of high-quality leads and a need to improve ROI. Nearly 75% of the 464 survey respondents stated that lead generation or customer acquisition is their main goal. To address these issues, more than half indicated that online channels such as directories and websites, along with an increase in social media tactics, will be major components of their 2010 marketing campaigns.
With the prevalence of social media in business, it’s not surprising that more than two-thirds of marketers responding said they plan to spend more on video and social media such as Twitter, LinkedIn and Facebook.
“The survey results indicate that manufacturers are responding to economic improvements by spending more on marketing efforts, and they are spending more of those dollars online,” said Chris Chariton, vice president of marketing services and product management for GlobalSpec Inc.
Additional trends gleaned from the survey include:
– More marketing dollars will be spent online, with 47% reporting they’ll spend more than one-third of their budgets online and 51% will invest more than they did in 2009.
– Three-fourths include customer specifications on their websites; one of the key features customers and prospects search for on company websites.
Based on survey results, the three key recommendations in the report call for companies to ramp up marketing as the economy improves; implement tactics that can be measured such as online programs; and choose targeted online activities that reach customers and prospects.