Industrial Firms Step up Online Marketing

July 2, 2010

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Industrial firms are spending more money on marketing – particularly online, according to research published by GlobalSpec.

The report, “Trends in Industrial Marketing 2010: How Manufacturers are Marketing Today,” notes growing optimism surrounding the economic upturn in the industrial sector. In 2010, 70% of companies surveyed anticipate an increase in sales, compared to 2009, when only 16% expected it.

Biggest Challenges
The biggest challenges for this group are limited resources, lack of high-quality leads and a need to improve ROI. Nearly 75% of the 464 respondents said that lead generation or customer acquisition is their main goal. Thus, 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.

Rise of Social Media
Also, more than two-thirds of marketers responding to the survey said they plan to spend more on video and social media such as Twitter, LinkedIn and Facebook. Conversely, 25% plan to decrease their spend on trade magazine advertising and 24% will decrease use of printed directories.

“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. “Companies now realize that the vast majority of their target audience search online for products, services and suppliers and this is where they need to be.”

Other findings:

  • 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.
  • Top sources for lead generation include online channels such as company websites, e-mail marketing and search engine optimization.
  • Three-fourths include customer specifications on their websites; one of the key features customers and prospects search for on company websites.

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