Idea Hall Blog Marketing Dollars Make Sense

12/01/09
Let’s face it, 2009 has been tough, especially on marketing budgets. Many of our clients have cut expenses back as far as they can on everything, including marketing. Now they’re looking at year-end profitability, or the lack of it, and trying to grow revenue in 2010. Marketing is again at the top of company’s agendas. 

Apparently this isn’t just a trend in Southern California. Business-to-Business Magazine just reported the results of their annual forecast survey, and it shows close to 40% of B2B marketers plan to increase their marketing budgets in 2010. The biggest increases will occur in online, followed by direct marketing and events.  

The #1 goal for these increased marketing dollars? Customer acquisition, by far. While firms will position themselves to retain customers and build brand, the overwhelming focus is the pursuit of new customers and new sources of revenue.

This reloaded interest in marketing reflects the interwoven nature of marketing and sales. It also reflects a deliberate approach by firms to recapture market share, reinvent their value proposition, and rebuild their balance sheets.

While skeptical optimism still abounds, we’re of the mindset that this is the best time to rethink marketing plans that have been shelved out of necessity, update them with fresh ideas, and take on 2010 with new energy.