Industrial Marketing Budgets Moving Rapidly Online

According to a new survey released by Global Spec and reported on Marketing Charts, online spending in 2007 accounted for 37 percent of total industrial marketing expenditures, and 57 percent of those respondents expected this percentage to increase even more in 2008. In addition, the results indicate that 30 percent of industrial marketers now spend more than 50 percent of their budgets online.

These same industrial marketers said their biggest marketing challenges were:

1) Too few marketing resources (47%)
2) Improving ROI (31%)
3) Identifying which online marketing campaigns work the best

As far as their primary marketing goal, 72 percent of respondents identified customer acquisition or lead generation as their main focus for 2008.