The Propolis Community Index Report for July 2024 offers valuable insights into the evolving landscape of B2B marketing budgets and strategies.
The report reveals a notable increase in marketing budgets, which have risen from 2% to 5% of revenue targets. This growth is attributed to the enhanced ability of marketing departments to demonstrate a clear return on investment.
B2B marketers are now accountable for a larger portion of revenue generation, with the expectation to deliver 38% of overall revenue targets, compared to 30% in the previous year. This shift highlights the growing influence of B2B marketers in driving business growth.
The allocation of marketing budgets has also seen shifts, with increased investment in technology and third-party services like Mi6, indicating a greater reliance on external expertise to achieve marketing objectives.
However, there has been a slight decrease in spending on direct marketing activities.
B2B Marketing Budgets Data Table
The report also sheds light on customer growth ambitions for the year ahead, with a slightly higher percentage of marketers aiming to acquire more customers while maintaining high retention rates. This suggests a focus on both expansion and customer loyalty.
Furthermore, the report indicates a trend toward larger marketing teams, with an average growth of 26%. However, the growth is concentrated in fewer teams, suggesting that some organizations are significantly expanding their marketing departments.
In conclusion, the Propolis Community Index Report underscores the evolving role of B2B marketers as strategic contributors to revenue generation and the increasing importance of technology and external expertise in achieving marketing goals.
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