With the right approach to building a marketing budget, B2B companies can clarify their business development goals, gain organizational direction for marketing and position themselves for more profitable growth.
B2B companies developing marketing budgets are doing so in a time of great flux and change:
- Because of the Internet, the way that people buy is changing. In the recent past, when a customer was researching a purchase, they had to interact with a salesperson fairly early in the buying process to get product information. At that point, the salesperson could exert a lot of influence as they pulled the prospective buyer down the sales funnel. Now, however, buyers can research most of a purchase without having to first make contact with a company or their sales person. On the Internet, buyers can research prices, reviews, product information, etc. In fact, studies show that in B2B purchases, buyers can be 75% through their research before they first contact the seller