Business-to-business companies largely agree there are signs of recovery in their sector, a new study shows.

There are some exciting, positive changes showing in the market over a six-month period, the second in a series of market surveys carried out by B2B specialist, Circle Research and supported by ABBA (Association of Business to Business Agencies) and the IDM (Institute of Direct Marketing) reveals.  

The B2B Barometer provides a factual marketing perspective on just how B2B companies are behaving in the market.

Key survey findings are: 

• 79% of agencies and 66% of client-side marketers forecast growth in the next 12-month period
• 40% of client marketers forecast an increase in budgets in the next 12 months
• 92% of client marketers and 95% B2B agencies agree that it would be unwise to ignore social media
• 63% of client-side marketers do not have a social media strategy
• 65% of client-side marketers said they did not measure return on marketing investment . . .
• . . . but 86% of agencies believed their clients did measure ROMI

The survey of B2B client-side marketers and agencies backs up the Q4 2009 GDP figures and shows definite signs of recovery in the B2B sector. The report has revealed new trends, budget allocations and identifies new ways in which marketing funds are being apportioned to best effect. It has provided a true measure of what is happening in current business markets and will certainly help both clients and agencies make future decisions based on real peer-to-peer information, say the researchers. 

 Keeping up with the trends

Debbie Williams, chairman of the IDM B2B Council, said: "The B2B marketplace is changing at such a fast pace, it is often difficult for companies and agencies to keep pace with the latest market trends. The B2B Barometer survey is a firm foundation based on fact gleaned from 197 key players in the business."

 2010 – it really is getting better

Seventy-nine per cent of agencies polled revealed they are expecting to see growth in their organisations in the next 12months, while 66 per cent of client-side marketers were also confident of growth. This shows a marked improvement from the benchmark wave of research, when just half of client-side marketers predicted any organisational growth and firmly backs the latest GDP figures, which indicate growth.

Budgets increased and switches in areas of spend

Additionally, 40 per cent of client-side marketers reported a likely increase in marketing budgets over the next 12 months. Traditional media spend is still under pressure and many of the companies surveyed revealed that they would be spending less on print-based promotional media. Social media makes the biggest headlines with 92 per cent of client-side marketers and 95 per cent of agencies agreeing that it would be very unwise to ignore the latest new media developments, although 63 per cent of clients do not have a social media strategy. 

Measurement of results and return on investment

Measurement was highlighted as a critical area for attention, especially for expenditure in new areas, such as social media. However, when it comes to actually measuring the return on marketing investment (ROMI) some disparity exists: 86 per cent of agencies believe their clients measure this return, while only 65 per cent of client-side marketers say they actually do. An increase in accountability has occurred since the benchmark research, when only 51 per cent of client-side marketers claimed to actually measure ROMI. 

The most common metrics used to measure ROMI are lead generation, conversion rates and web analytics. As ever, B2B marketers face the challenge of attributing new clients or business leads to specific marketing spend. 

A summary of the findings is here or visit the IDM.