With marketers being optimistic about budgets, you probably want to know where they’re planning to spend their marketing dollars in 2020.
Digital — Growth continues to be evident within digital marketing. The 2019–20 Gartner survey said CMOs maintain a positive outlook for digital ads, with 78% surveyed confident that they’ll increase investment in 2020. For the B2B product sector, those surveyed by Gartner are spending 11.43% more in digital marketing, compared to a 0.58% increase in traditional advertising (i.e., media advertising not using the internet). And Forrester’s US Digital Marketing Forecast, 2018 to 2023 shows that spending on search marketing, banner and outstream video, instream video and email marketing will grow at a 9% compound annual growth rate to $146 billion by 2023.
Content Creation — According to the Content Marketing Institute’s 2020 Benchmarks, Budgets, and Trends – North America report, nearly half of B2B marketers expect their content marketing budget to increase in 2020. Currently, 36% of B2B marketers report an annual content marketing budget of less than $100,000. The average reported annual content budget (all respondents) was $185,000. The 2019 Demand Generation Benchmark Survey showed that 59% of respondents said that expanding their content library to drive campaigns was a top priority. When it came to generating qualified leads for the top of the funnel in 2018, 40% cited case studies, 38% cited videos, and 30% cited content syndication as being the most successful engagement tactics.
Integration — As B2B brands mature in their influencer marketing practices, the need for integration will increase. This means enabling the coordination of SEO, social media, PR, ads and influencers and the alignment of a single narrative across those channels.
Demand Generation — As marketers strive to drive awareness and interest in a company’s products or services, activities related to demand-gen are increasing. The 2019 Demand Generation Benchmark Survey showed that more marketing budgets are being allocated to demand generation initiatives and account-based marketing (ABM) adoption. Seventy-one percent of respondents said their demand-gen budgets would increase in 2019 (by as much as 30%), and there’s no sign of slowing in 2020. As more investment is made in demand gen initiatives, marketers can be better positioned to tie their efforts to business and revenue goals.
Lead Generation — Demand gen relies on proactive lead generation activities supported by traditional marketing programs. And measuring marketing impact is a growing priority for marketers. When it comes to lead gen, 30% of marketers say that the primary metric they are measured on is marketing- qualified leads (MQLs) or sales-qualified leads (SQLs). They need to show how many website visits there were, or the number of white paper downloads, or the quantity of webinar attendees. Everything is tracked and measured. This is one reason why demand gen activities are priorities for 2020. In fact, 42% of those surveyed in the Demand Generation Benchmark Survey said they plan to measure campaign attribution and influence within the next 12 months, up over 36% the year prior. And 66% said that improving their ability to measure and analyze marketing impact was a top priority.
Other Tools — The Demand Generation Benchmark Survey asked respondents what other tools they planned to test and deploy; 46% of respondents said ABM, 38% said multichannel lead nurturing, 37% said marketing automation, and 34% said content measurement. All of these data-focused tools can help marketers develop the right messages for the right people, helping to accelerate the sales pipeline.