Time for b-2-b companies to review the marketing budget

 Investment in marketing  should deliver valid returns just the same as for investment in other business assets. Accordingly there should be a Marketing Plan that is designed to help the company achieve its business objectives and an essential part of that plan is the Marketing Budget.

Recent blogs have asked some searching questions about the value of investment in the most commonly used marketing communications methods in a rapidly changing environment. We began with the marketing mix and suggested that it may be time to review the balance. Despite the dominance of digital marketing methods and user preference for information online, many companies continue to commit large proportions of their budgets to traditional media. Why? Because they keep updating last year’s budget.

As the initiative shifts from print to online media many b-2-b marketers remain stubbornly committed to traditional display advertising. Exhibitions seem more popular  with exhibitors than with visitors and do the total costs really get considered?. Meanwhile new media opportunities are emerging online which call for a share of a marketing budget that is already under pressure. These blogs have now been brought together in a PDF version that can be downloaded from the Technical Marketing web site.

Marketing in difficult economic times will pay dividends for those businesses that invest by gaining share at the expense of rivals who cut their budgets. But that investment should be carefully made - not just last year plus or minus x%.