Deloitte recently published an article about the marketing budgets of various industries. Here, we’re recapping the most important things to take away for B2B companies.
Interestingly, the mining/construction industry is included in the top 4 largest percentages of budget allocation to marketing. Other large B2B industries such as transportation and manufacturing have a low 8% of their budget assigned to marketing.
When you take a deeper look into how those marketing budgets are divided, you can see it is fairly similar for B2B products or services.
The article outlines 4 factors that influence marketing budgets;
- Marketing’s ability to influence revenue
- Social media’s contribution to revenue
- The use of data and analytics to determine marketing decisions
- The organisational structure of marketing and sales departments
How does your marketing budget stack up to these figures?