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What’s Hot in B2B Marketing?

Guest post by: Bob Grant

Article Overview: Marketing budgets are expected to grow by 9.2% over the next year including and increase in spending on brand building.

What’s Hot in B2B Marketing?

According to a recent survey of senior marketing executives, 2010 CMO Survey, conducted by the Fugua School of Business at Duke University and the American Marketing Association, marketing budgets are expected to grow by 9.2% over the next year. Not surprisingly budgets for Internet marketing are expected to rise an average of 13.6% followed by brand building at 8.3% and CRM spending at 8.3%. The survey notes that social media spending is expected to grow from 9.9% of total marketing budgets to 17.7% over the next five years.

As a brand consultant I am pleased to see the uptick on brand building. Since Internet marketing bandwidth and marketing opportunities are vast it will be important for companies to focus on their brand differentiation. Not only does a company need to deliver a strong message in its marketplace, the company also needs to be certain that the brand is backed up by company employees and executives who need to deliver on that brand promise.

The CMO survey noted that while CMO's were optimistic about their own companies, they were less optimistic about the US economy. With worries about the economy, strong brands supported by strong brand advocates within the company will be even more important to compete in a shrinking economy.

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Article Tags: b2b marketing, brand building, brand development, brand strategy, branding



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