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B2B Marketers: 490% Increase in Social Media Spend by 2014?


When we publish pretty charts and report on studies, I’m often asked: “What about the B2B guys?”

Hold on to your inventory, here they come!

Forrester is predicting a significant uptick in internet marketing by those in the B2B space. In fact, it’s predicting spend will almost double over the next five years–going from $2.3 billion in 2009 to $4.8 billion in 2014!

So, where do the B2B marketers plan to invest?

You can’t blame them for focusing on paid search, after all, it’s a channel with controlled spending and measurable ROI. Still, that doesn’t mean there won’t be corks popping in the offices of social media gurus.

B2B marketers spent $11 million on social marketing in 2009, and that number will increase to $54 million in 2014. Despite small budgetary spending, social media’s impact far outweighs its current budget figure, as many of social marketing’s costs (time, staffing, and training) are difficult to quantify. Still, traditionally conservative B2B marketers are beginning to see the benefits of investing in social marketing, especially through the use of exclusive communities and online events to share information both with clients and internal stakeholders.

A 490% growth rate is not to be sniffed at, but a total spend of $54 million means social media folks might want to celebrate with a bottle of apple cider and let the PPC management folks celebrate with the good stuff! ;-)

  • http://www.planetwebfoot.com PLANETwebfoot

    While the number does seem high it’s not really all that surprising. Jeremiah Owyang recently published his social networking stats for 2010 and generaly useage statistics show that the numbers are poised to double over the next 12 months.

  • http://www.bigpictureweb.com Josh Braaten

    And then some day 5 years from now when the lines between each of these mediums blur even more, everyone will finally just be marketers again.
    .-= Josh Braaten´s last blog ..3 Blogger SEO Tips: How to Attract Traffic to Your Website =-.

    • http://www.marketingpilgrim.com Andy Beal

      That ideal has been just out of reach every year that goes by. ;-)

  • http://www.landingstripfilms.com/NaplesCommonSense Jeff Wardrop

    The numbers are quite believable to me as we are now just on the cusp of having everyone jump on the proverbial band wagon. When done correctly there is a real increase in ROI, why wouldn’t B2B marketers be making social media platforms and strategies part of their arsenals? And you’re right Josh, in the not too distant future it will all just be part of marketing 101.

  • Pingback: B2B Marketers: 490% Increase in Social Media Spend by 2014? | Naples Common Sense

  • Dean

    @ Josh – Stop being so rational, you’ll hack off the Social Media enthusiasts ;)

  • http://getglobalassist.com Claudia Guzman

    Great article. Social media will really help the businesses increase their ROI.

    • http://www.misuniversity.com mikewarren

      I agree! Nowadays a lot of people having online business are very much dependent in social media. It’s easy ang convenient too.

  • http://mayweather-vs-mosley-fight.blogspot.com Mosley

    When done correctly there is a real increase in ROI, why wouldn’t B2B marketers be making social media platforms and strategies part of their arsenals? And you’re right Josh, in the not too distant future it will all just be part of marketing 101.
    .-= Mosley´s last blog ..‘Look Of Love’ – Mayweather and Mosley pair of gagsters =-.

  • http://www.clicktowne.com David Lawyer

    Very encouraging and not surprising. As mentioned in previous comments, we are just at the beginning of the social media movement, with folks just getting comfortable with it and just now starting to seriously wonder how this new channel can someway, somehow be molded and shaped into something that can benefit the business.

  • http://mayweather-mosley-fight.blogspot.com/ harvz

    agree, there is really much increase in the usage of the web in BRB marketers
    .-= harvz´s last blog ..Manny Pacquiao raises the bar: The Pacman to test reluctant Floyd Mayweather Jr after crushing Joshua Clottey =-.