2020 Services Marketing Budget Allocations and Trends Julie Schwartz, Senior Vice President, Research and Thought Leadership, ITSMA ABBREVIATED SUMMARY This abbreviated summary highlights some of the most significant findings of ITSMA’s 2020 Services Marketing Budget Allocations and Trends Study. A more in-depth analysis can be found in the full report: http://www.itsma.com/research/2020-services-marketing-budget- allocations-trends/.
16
Embed
ABBREVIATED SUMMARY 2020 Services Marketing · 2020. 2. 5. · 2020 Services Marketing Budget Allocations and Trends Julie Schwartz, Senior Vice President, Research and Thought Leadership,
This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
Transcript
2020 Services Marketing Budget Allocations and TrendsJulie Schwartz, Senior Vice President, Research and Thought Leadership, ITSMA
ABBREVIATED SUMMARY
This abbreviated summary highlights some of the most significant findings of ITSMA’s 2020 Services Marketing Budget Allocations and Trends Study. A more in-depth analysis can be found in the full report:http://www.itsma.com/research/2020-services-marketing-budget-allocations-trends/.
25 Years of Benchmarking Marketing Performance, Budgets, and Trends
Since 1995, ITSMA has been conducting annual benchmarking studies on services marketing budgets, performance, practices, and trends. Our objective then, and now, is to help leading services and solutions companies understand how they compare with like organizations in a variety of critical marketing management areas.
ITSMA’s 2020 survey of the most important trends in marketing for services and solutions highlights the critical contributions that marketers can make to growth and profitability. The report reviews current projections for marketing budget and staff growth and allocation, outlines the priorities of marketing executives from top technology and professional services companies, and explores such issues as:
• Building data-driven, insight-led organizations that inform business strategy and optimize marketing outcomes
• Designing and managing programs and experiences to strengthen executive-level relationships
• Repositioning the brand and driving awareness, interest, and credibility for new buyers, offerings, and markets
• Embedding account-based marketing (ABM) in the business to drive strategic growth
• Developing the next wave of marketing talent to accelerate marketing’s transformation
In 2020, B2B marketers that are data-driven and insight-led will take the lead in enabling strategic growth #ITSMA20
Build data-driven, insight-led organizations that inform business strategy and optimize market outcomesFew leaders outside of marketing rely on marketing data to make decisions
Source: ITSMA Measuring What Matters: Metrics Survey, June 2019
To what extent are other functions or organizations using the data and metrics developed by marketing?
% of respondents who indicated that executive in the company “relies on marketing data to make decisions” (N~68)
Broadening and deepening customer relationships and advocacy
Retaining and expanding business with existing customers
Driving business strategy for your company/division/BU
Accelerating the sales cycle
Where does marketing have the greatest impact on the business?% of respondents (N=28)
36
21
14
14
7
7
Source: ITSMA, 2020 Services Marketing Budget Allocations and Trends
Reposition the brand and drive awareness, interest, and credibility for new buyers, offerings, and markets
“One of our top challenges is brand/reputation transformation to reflect our ‘new’ company, particularly in new markets and industries.” VP Marketing Operations, global software company
1. In 2020, B2B marketers that are data-driven and insight-led will take the lead in enabling strategic growth #ITSMA20
2. When it comes to data and analytics, marketers have three goals: prove and improve marketing, and provide insight to fuel business strategy #ITSMA20
3. B2B services marketing budgets will grow 2.4% and staffs at 3.8% in 2020 per #ITSMA20 research
4. B2B marketing’s top 5 priorities in 2020: Lead Gen/Mgmt, ABM, Marketing Perf Management, Data-Driven Culture, and Brand Differentiation #ITSMA20 research
5. Top 2020 digital mktg spend increases are Conversational Mktg, Corp Website, Social Media, SEO, Ads/Paid Search #ITSMA20 research
6. Leading B2B marketers are investing in Data & Analytics, Exec Engagement, Brand Repositioning, Embedding ABM, and Next Gen Talent #ITSMA20 research
#ITSMA20
Tweetable takeaways
11 414
7
36
29
Less than$100M
in servicesrevenue
$100–249Min services
revenue
$250–499Min services
revenue
$500–999Min services
revenue
$1–5Bin services
revenue
Greater than$5B
in servicesrevenue
Methodology and demographics
Web-based surveyDecember 2019 through January 2020
28 participantsfrom 27 companies
Which of these categories best describes your industry subsector?
Source: ITSMA, 2020 Services Marketing Budget Allocations and Trends | % of respondents (N=28)
Company’ssales model
Respondents’perspective
57%43%
Sell services through a mix of direct sales and channel partners
Sell services primarily through a direct sales force
Julie SchwartzSenior Vice President Research and Thought [email protected] +1 781 862 8500, x112
The full report is available at no additional fee to ITSMA member companies that participated in the study. Non-member companies that participated in the study are eligible to receive an Executive Summary. For non-participating companies, this report is available for sale at member and non-member prices. http://www.itsma.com/research/2020-services-marketing-budget-allocations-trends/.