In the next 5 years, 81.3% of B2B companies expect to invest more in their brand strategies, with an anticipated increase of up to 25% in 2017. This spend comes on top of the 86.7% increase that took or place over the past 5 years according to a current survey reviewed by Realtor Campaign
Working with Connecticut-based market research firm Great Blue Research, Spencer Brennneman Report surveyed 150 B2B marketing executives who consider themselves ultimately responsible for or an expert on their company brand strategy.
“There was lots of data out there on how B2C organization were investing in their brands, but very little for B2B. So, we set it to find it out,” said Douglas Spencer, president of Spencer Brenneman “We wanted to quantify the connection between strong B2B business performance and the right brand strategy. Even we were astonished by the results.”
According to the study, those biggy budgets generated real results for most, as 83.3% of the organizations that increased their spending saw the larger investments pay off. The massive area where this payoff occurred was increasing sales and landing additional customers, which was true for 56% of those who cited a specific payoff.
“Another clear trend we saw was with research,” said Spencer. “It pays off. Those who increased spending showed improvement, but those who increased spending and conducted continual research did even better.”
For smaller companies with the limited budgets, there are methods you can utilize to increase awareness and grow your company. Writing blogs that are relevant to your clients and industry is one method that is quick and low cost, if you have the time to write articles about your company. Generating video content, small video commercials and instructional videos for YouTube and Facebook distribution is another way to get in front of a limited attention span and time pressed buyer, as small videos are being consumed in the millions on a daily basis. Even the typical email campaigns and public speak are always good to build brand awareness and recognition of your service offering.
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