Second in a series of posts looking at results and insights from our study of building products marketers
As an agency focused exclusively on building materials and industrial manufacturing we’ve long studied marketing forecasts and trends so we're in position to best collaborate and consult with our clients.
When we commissioned a study of C-Suite level marketers from building products manufacturers, we couldn’t wait to dig into the results. Our first blog in this series covered why BPMs are increasing budgets to increase market share.
Now, let’s take a look at another discovery.
A paradigm shift: The digital era for BPMs is here
Our survey asked executives what percentage of your company’s B2B marketing budget was directed to various analog and digital channels in 2020. An overwhelming 79 percent of respondents listed digital channels over more traditional mediums like out of home and print.
Leading the digital channel charge were BIM/specs/product data at 11% of the budget, quickly followed by email/marketing automation also at 11% and digital display at 10%. Respondents forecasted investment in these digital channels will accelerate in 2022, along with social media - paid investment.
This is exactly how we advise our clients to fund their programs.
Start at the point of conversion, your product, and work backwards up the funnel towards awareness. Leverage your first-party data, customers and known prospects, as the first channel for your message. Then use channels like display and social to engage and drive brand awareness.
(You can read more about specification marketing in our blog covering three specification trends that BPM marketers need to know. A major focus of your strategy should focus on the sustainability market, which is expected to reach $150 billion this year.)
BPMs see online channels growing in importance through 2022
62 percent say that paid social is important going forward, followed by 59 percent saying digital display.
Paid social media is a great channel for BPM’s because it accomplishes two goals - it builds brand awareness and drives leads. The audience targeting capabilities have significantly evolved so you also know your message is reaching the right audience.
Complete study results and resources available
Access the white paper, learn the 7 crucial steps to BPM marketing in the new economy (infographic), or listen back to our recorded webinar. Visit our “Reimagining Building Materials Marketing for a New Economy” page.
I also encourage you to contact me to discuss the study or marketing opportunities.
Until next time. Megan