A February online survey of over 680 B2B marketers shows 58 percent did not revised original 2008 marketing budgets, and 12 percent actually increased 2008 budgets (BtoB Magazine). However, 30 percent revised budgets downward, and of those, 45 percent said they'd cut down on print ads while increasing their online spend. So it appears online marketing may benefit from the slower economy.
A recent eMarketer survey indicates search will hold up in terms of dollars spent, as $8.6 billion was spent on search in 2007, and $11 billion is projected for 2008. This study says search continues to account for 40 percent of the total online ad spend.
However, two new formats will beat search in terms of growth in 2008: video and lead generation (referrals). Rich media/video will increase 48.9%; lead generation will increase 30.9%, while search will increase only 27.5% in 2008 (over 2007).
Online video has a lower cost of entry than traditional broadcast media, and this will encourage adoption by companies that never used video before. The US online video advertising spend in 2008 will increase 74.2 percent over 2007. Video is a great way to display a product or brand, making it particularly useful for B2B companies, as B2B products and services can be complex, requiring more effort to explain.
The overall marketing spend on the Internet continues to rise with online ad spending expected to reach $25.8 billion in 2008, up 23 percent over 2007 (eMarketer).
Source: BtoBOnline
Posted by Paul J. Bruemmer
1:50 PM
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