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Online Marketing Budgets Within the Industrial Sector Continue to Grow in 2007
GlobalSpec Survey Shows That Gap Between Industrial Advertising Methods
and Customer Behavior is Closing
TROY, NY - (Business Wire) - 6/13/07 - Companies within the industrial sector are spending more on marketing and allocating a greater portion of their budget to online marketing, according to the 2007 Industrial Marketing Trends Survey. This second annual survey of marketing and sales executives and managers in the industrial sector was conducted by GlobalSpec (www.globalspec.com), the leading specialized search engine, information services and e-publishing company for the manufacturing, technical, industrial and engineering communities.
Sixty-one percent of respondents stated that online marketing would command a greater portion of their marketing budget in 2007 than it did in 2006. In addition, 37% will spend at least one third of their marketing budget online.
These results indicate the industrial sector is rapidly allocating their budget to online marketing, closing the gap between where they are advertising and where customers and prospects are searching for products and suppliers. Previous GlobalSpec surveys reported that 91% of engineers use the Internet to find components and suppliers and 45% spend more than 6 hours/week online for work-related purposes. Companies are shifting more of their marketing resources to capture these engineering, technical and industrial professionals and to meet their top reported marketing goals of customer acquisition and lead generation.
Other findings from the 2007 GlobalSpec Industrial Marketing Trends Survey include:
- 74% of respondents indicated that either customer acquisition or lead generation is their primary marketing goal in 2006
- Respondents most often selected customer acquisition, budget & resources or new market development as the biggest marketing challenge facing their company in 2007, indicating that finding new customers in both new and familiar markets while controlling budget expenditures is a key focus
- Fewer than 10% of respondents expected to increase spending on blogs and podcasts in 2007, showing that social media has yet to make an impact in the industrial sector
Results including full color charts and graphs of the 2007 GlobalSpec Industrial Marketing Trends Survey can be found at: http://www.globalspec.com/wp/GSMarketingSurvey0607.
About GlobalSpec, Inc.
GlobalSpec, Inc. is the leading specialized vertical search, information services and e-publishing company serving the engineering, technical and industrial communities. GlobalSpec users benefit from domain-expert search engines, a broad range of proprietary and aggregated Web-based content and over 56 product-specific e-newsletters – helping them search for and locate products and services, learn about suppliers and access comprehensive technical content. SpecSearch®, GlobalSpec’s trademarked search technology, allows users to search by specification more than 176 million parts in 2,200,000 product families from more than 21,000 supplier catalogs. For suppliers, GlobalSpec offers highly filtered sales and marketing opportunities, product promotion and brand advertising platforms, and a wide range of e-media advertising and marketing solutions.
GlobalSpec, SpecSearch, The Engineering Search Engine and The Engineering Web are registered trademarks of GlobalSpec, Inc.
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