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B2B Research Spend Resilient, Says Survey
While UK organisations' budgets are down, b2b market research spend appears resilient, according to the findings of the B2B Barometer survey conducted recently by Circle Research.
Of the 100 client side IDM (Institute of Direct Marketing) members who were interviewed for the study, 23% reported a planned decrease in research budgets for the coming 12 months. However, the good news is that most said they plan to maintain (31%) or increase (46%) their spend on research in the coming year.
Respondents want research agencies to develop tools to measure the impact of social media, with 71% saying that social media is highly relevant to B2B organisations, and a similar number (70%) claiming already to be boosting investment in this area.
Three quarters (71%) said they have shifted spend to activities which directly generate revenues, rather than those which build brands; but just half of participants have systems in place to measure ROI.
Key priorities identified by B2B marketers are: strengthening their online presence; deriving the maximum value from budgets; improved database management; and understanding how best to integrate new and traditional media.
Despite the gloom about the economic downturn, three quarters (63%) said they expect the present decline to last between 12 and 24 months, with a half (50%) expecting their own organisation to grow during this period.
Launched in 2006, Circle Research, which offers B2B qual and quant research both in the UK and internationally, is online at www.circle-research.com .
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