Yes, it’s that time of year again – B2B marketing execs are examining their campaigns and strategies and starting to sketch out budgeting plans for the year ahead.
For many B2B marketing teams, the bulk of their budgets will be spent on campaign planning, content creation and paid advertising, with a smaller percentage focused on workforce marketing, technology and live events, according to Oktopost CEO Daniel Kushner.
Campaign planning and content creation should account for 40 to 50 percent of an organization’s budget, with a focus on attaining goals for the department and creating targeted content that engages audiences, according to Kushner.
“If your broad goal is awareness or branding, you might want to invest in a campaign that differentiates your brand from your competitors and offers value to your prospects so they come to associate your brand with value,” Kushner worte for Marketo Blog. “If your goal is more focused on customer retention and growth, then your campaigns should be focused on how to keep your customers happy and make them more successful with complementary products or services.”
B2B marketers should set aside 20 to 30 percent of their budget for paid advertising, which can be measured and target more specific audiences than other channels.
“While sometimes an afterthought in the age of ‘free’ marketing, paid advertising provides some of the most direct and immediate measures of ROI available,” Kushner wrote. “That is, you can count dollar-for-dollar exactly which advertisement brought in a certain number of conversions or a certain amount of revenue. Digital advertising is especially worthwhile, given the ease of publishing ads and the fact that the biggest channels (e.g. Facebook, LinkedIn, Target) offer excellent targeting options.”
Setting aside 10 percent of a B2B marketing budget allows for flexibility and gives marketers options for leveraging tech to prove ROI for new campaigns and strategies, according to Kushner.
- read the complete blog post