Prior to 2020, most manufacturers and B2B companies could grow while spending more of their marketing budget on print materials and events. Then the pandemic hit. B2B manufacturing marketing budget allocation had to adjust to the new reality.
B2B companies started attracting more customers through online channels. What allocation strategy can we expect to yield the best results in 2022 and beyond?
The first step to allocating your marketing budget needs to be setting overall business goals for the year. What makes the most sense for your company right now?
Below are some common goals for B2B and manufacturing companies right now.
If you’re not in a position to handle a bunch of new leads, shift your spending away from lead generation tactics. Instead, invest in prospect and customer relationship nurturing.
All companies, regardless of capacity, need to allocate budget to build and expand awareness. This includes social presence and SEO.
The marketing disruptions over the past two years have had at least one positive outcome. Forced to adapt quickly, manufacturers and other B2B companies learned how effective online marketing can be.
SEO, digital media, and search include tactics like fresh website content, Google and social media ad campaigns, analytics reporting and analysis, email marketing, and more.
Even with the current uncertainties worldwide, it may be time to take a fresh approach to your traditional marketing. Depending on your goals, consider updating marketing materials and booking booths at trade shows.
That’s our view on B2B manufacturing marketing budget allocation in uncertain times. What are your thoughts? Connect with us on LinkedIn or Tweet us. We’re always happy to talk.
–parin
Managing Partner
Image credit: eMarketer
With over two decades of experience, Parin leads an expert demand-generation agency, StratMg, that helps industrial manufacturing clients achieve unambiguous and quantified organic sales growth across the US, EMEA & APAC.
Parin has built & positioned StratMg to be a value-added marketing services provider that strives to create a culture of quantified sales-driven marketing initiatives leading to sustained business growth through channel management, diversification, new customer acquisition and retention strategies and tactical execution.
