Marketing Budget Trends For Industrial Companies In 2017 [CHART]

Chart: Industrial Marketing Budget Trends in 2017

Almost 8 in 10 industrial marketers increased (31%) or maintained (48%) their budgets in 2017 relative to 2016, per a report [PDF] from IEEE GlobalSpec Media Solutions. Websites, content and social media were the areas in which the most industrial marketers increased their spending in 2017, with 58% doing for each channel.

A majority also reported an uptick in spending on SEO (55%), while half hiked their investments in video and email marketing (using house lists).

Industrial marketers appear to be spending in areas where their target audiences reside. In an earlier study released last year, IEEE GlobalSpec found that technical professionals most commonly turn to general search engines, supplier websites and online catalogs when searching for products and services to specify, recommend or purchase. While social media didn’t figure as prominently in technical professionals’ content consumption, almost two-thirds said they performed some type of work-related activity on social media, with the most common being reading work-related content (36%), searching for contacts (33%) and researching suppliers (32%). Read the rest at