B2B advertising getting big in 2008

Business Gets Social

JANUARY 14, 2008

Old-time sales pros always believed in the importance of face-to-face contact. Now new media is making that contact easier than ever.

Last year was the first time trade shows—referred to as “face-to-face” media by American Business Media (ABM)—surpassed business publications in share of total revenue.

Emphasis on socialization is growing for digital media, including social media such as such as blogs, wikis and social networks.

eMarketer projects that, in 2008, US B2B online advertising spending will increase almost 26%, to $4.4 billion.

“B2B marketing is undergoing tectonic shifts,” says Lisa Phillips, eMarketer Senior Analyst and author of the new report,B2B Marketing Online: Business Meets Social Media. “One thing that hasn’t changed, though, is that sales cycles remain long and complicated.”

Reaching the ultimate decision-maker is still the key goal, but marketers also need to target researchers, technical advisors and negotiators at every stage of the process.
In fact, according to MarketingSherpa&, the number of people involved in purchase decisions continues to grow, averaging 21 people in larger companies.

“The most efficient way to ‘see’ more prospects and influencers face to face,” says Ms. Phillips, “is through the use of new online media alternatives.”

Nevertheless, in a recent BtoB magazine survey of marketers, traditional digital strategies remained popular.

Web-site development was the main tactic used to attract new customers; e-mail was a strong second; and search engine marketing placed third.

B2B marketers are a little out of step with their target audience,” says Ms. Phillips. “While marketers put more marketing efforts into their corporate Web sites, many business decision-makers are looking elsewhere for critical buying information.”

In an Enquiro survey, B2B professionals were asked what sources were most helpful to them in the purchase decision-making process. Manufacturers’ sites consistently topped the list. Search engines were second, and second-tier tactics such as video, opt-in e-mail, RSS feeds, webinars, podcasts and social network sites were also cited as important. (B2B blogs did not make the list because Enquiro did not include the choice in its survey.)

“Business marketers are on target with their plans to spend on search marketing, e-mail and corporate sites, but would be better served to move funds out of traditional media and toward more word-of-mouth venues such as Web-based events, trade shows and conferences,” says Ms. Phillips. “The more daring will try online video, blogs and other social media to reach decision makers as the wander the Web.”

Be daring today. Download the new eMarketer report, emarketer.com/ B2B Marketing Online: Business Meets Social Media.

Get More from eMarketer

eMarketer subscribers have access to thousands of reports, articles and charts related to topics like this one.

 To learn more, visit:

emarketer.com/