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The Power of Industry-Specific Business Media
2 Entire contents © 2007 Forrester Research, Inc. All rights reserved. Overview ABM engaged Forrester Consulting to complete an independent research study of the trends and impact of B2B media on both end-users/decision makers and marketers. The findings and analysis of this study indicate that the integrated use of industry-specific business media is the most effective way to help decision makers evaluate purchases, grow professionally, and improve their businesses.
3 Entire contents © 2007 Forrester Research, Inc. All rights reserved. Summary of survey findings Business decision makers (BDMs) are shifting to digital media use at a faster rate than B2B marketers are adopting these media Each of the key industry-specific media types – print, events, and digital --demonstrates unique strengths BDMs are highly involved with industry-specific media Industry-specific media are most effective when used together in an integrated manner Industry-specific media are more effective at reaching BDMs than general business media Industry-specific media extend the reach and effectiveness of the B2B marketer’s sales organization B2B marketers plan to underutilize industry-specific media in their future spending compared to BDM’s expected use of these media
4 Entire contents © 2007 Forrester Research, Inc. All rights reserved. How is the use – and value placed on – digital media among business decision makers changing? Are B2B marketers taking full advantage of these trends in digital media use? Key Findings
5 Entire contents © 2007 Forrester Research, Inc. All rights reserved. BDMs rank industry-specific Web sites as one of the top 2 digital resources they rely on at their jobs – far ahead of general business web sites “Of the digital B2B media that you use on your job, which 3 do you rely on the most:” Base 485 666 582 500 458 354 395 273 304 291 348 296 174 166
6 Entire contents © 2007 Forrester Research, Inc. All rights reserved. As further evidence of the digital media transformation, most BDMs use or intend to use Web 2.0, emerging media “Which of the following activities relevant to your job or industry have you tried or considered trying?” Base: 878 B2B decision makers 90% 86% 76% 70% 69% 59%
7 Entire contents © 2007 Forrester Research, Inc. All rights reserved. While BDMs rely on industry-specific Web sites the most, B2B marketers don’t use these sites in their marketing mix to the same degree “Of digital marketing tactics used or sponsored in the past 12 months, which 3 did you use the most?” Base 648 337 494 357 316 327 275 281 241 268 141 201 159 143 Corporate Web site Ads/listings on Web portals Email solicitations Web based events Ads on industry-specific magazine Web sites Online directories Ads on specialized business magazine Web sites Online video Ads on general business magazine Web sites B2B Blogs Podcasts Sponsored ads in online discussion forums Mobile RSS 68% of B2B marketers say industry-specific Web sites effectively reach decision makers and 62% say these sites effectively generate leads.
8 Entire contents © 2007 Forrester Research, Inc. All rights reserved. What value do traditional industry-specific media platforms offer to B2B decision makers? With growing use of digital media, how engaged or involved are decision makers with traditional industry-specific media?
9 Entire contents © 2007 Forrester Research, Inc. All rights reserved. Each of the key industry-specific media platforms demonstrates unique strengths to BDMs Response Industry- specific Web sites Industry- specific magazines Industry- Specific Tradeshow Other media Provides objective information27% (1)25% (2)9% (4) General business magazine = 11% (3) Provides information that I can trust25% (2)26% (1)10% (4) Vendor Web site = 12% (3) Keeps me ahead of the competition24% (1)20% (2)14% (3) Gen’l business magazine Web site = 9% (4) Helps me do my job better22% (1)20% (2)11% (3) Web portals =10% (4) Helps me advance my career22% (1)19% (2)14% (3) General business magazine = 10% (3) Helps me grow my business21% (1)18% (2)15% (3) Gen’l business magazine Web site = 8% (4) Helps me become aware of new products or services 17%(3)19% (2)22% (1) Vendor Web site = 16% (4) Industry-specific media platforms top all other media for delivering objective information, staying ahead of competition, and helping BDMs perform in their jobs Base: 878 Business decision makers Key: Percentage of respondents selecting the medium as the BEST medium for helping them with the activities described in each statement. (Overall rank in parentheses)
10 Entire contents © 2007 Forrester Research, Inc. All rights reserved. BDMs are highly involved with all industry-specific media Media involved withFrequencyTime spent Industry-specific business magazines 64% read 3 magazines or more last month 44% spent 3 hours or more reading magazines per week Industry-specific conference or trade show 51% attended 3 conferences or trade shows or more during the past 12 months 58% spent 5 days or more at conferences or trade shows during the past 12 months Industry-specific Web sites54% visited 5 Web sites or more last month 47% spent 3 hours or more on Web sites per week Web-based events 75% attended 3 Web-based events or more during the past 12 months N/A And BDMs find industry-specific content and advertising more engaging than general business media Statements about engagementAgree When visiting an industry/profession-specific Web site, I find that I spend more time reading and thinking about the content than with other more general Web sites or portals 83% When reading or interacting with industry/profession-specific business magazines, I find that I spend more time reading or thinking about the editorial content and product/service messages than with other general business media 80% Base: 878 B2B decision makers
11 Entire contents © 2007 Forrester Research, Inc. All rights reserved. When integrated together, do industry-specific media influence decision makers more than when used alone? Do marketers agree? How important are B2B digital and traditional media to B2B marketers’ sales process?
12 Entire contents © 2007 Forrester Research, Inc. All rights reserved. Industry-specific media are most effective when used together in an integrated manner When used together, B2B media help BDMs recognize brands Base: 816 B2B marketers B2B MarketersAgree Integrating our marketing messages and advertising across multiple industry-specific business-to-business media allows us to reach buyers that we might not have engaged using one medium alone. 93% Our company or brands become/s more top of mind when buyers see our messages in more than one industry-specific B2B medium 91% Buyers and customers are more likely to consider our company’s products or services when they see messages for our company in more than one industry-specific B2B medium 91% Prospects get more information about our company or brands when they see messages in more than one industry-specific business-to-business medium 90% Our firm gets more qualified buyers when we integrate industry-specific B2B media like print and events with online media like Web ads and sponsored links. 85% B2B Decision MakersAgree It is easier for me to recognize or remember a company’s brand or products/services when I see messages about it in multiple media such as magazines, online, or at events 91% Base: 878 Business decision makers B2B media also help B2B marketers reach buyers and stay top-of-mind
13 Entire contents © 2007 Forrester Research, Inc. All rights reserved. Industry-specific traditional media are more effective at reaching BDMs than general business media when making purchase choices When making purchase decisions, more BDMs rely on industry-specific media to inform and validate their choices 26% or fewer of BDMs surveyed selected 11 other marketing tactics including Web portals, online directories, direct mail, online video, podcasts, RSS, TV, radio, newspaper, mobile ads, and outdoor. Base 584 582 544 485 569 609 666 458 273 354 304 343 484
14 Entire contents © 2007 Forrester Research, Inc. All rights reserved. Industry-specific media extend the reach and effectiveness of the B2B marketer’s sales organization Base: 878 Business decision makers …And industry-specific media help marketers increase the effectiveness of their sales teams StatementAgree BDMs who say seeing a message in industry-specific media makes them more receptive to a salesperson. 82% Industry-specific media open doors for B2B sales reps…. StatementAgree Our salespeople feel that messages in industry/profession specific B2B media help to build their credibility 91% Buyers who visit our Web site are more likely to take a call from our salespeople 89% Messages in industry-specific B2B media make it easier for our salespeople to call on prospects 88% Base: 816 B2B marketers
15 Entire contents © 2007 Forrester Research, Inc. All rights reserved. Which trends in media use by B2B decision makers and marketers are most important?
16 Entire contents © 2007 Forrester Research, Inc. All rights reserved. Looking forward, industry-specific media will continue to be more important among BDMs than general business media will in 2009 “How will your use of traditional media change in the next two years (2009)?” Base: 878 business decision makers The top 3 choices are industry- specific media % who say their use of traditional tactics will “increase” or “increase significantly” in 2009.
17 Entire contents © 2007 Forrester Research, Inc. All rights reserved. Industry-specific Web sites rank #2 among ALL planned digital media In addition, BDMs’ use of industry-specific Web sites and Web events will increase beyond traditional media use in the future “How will your use of digital media change in the next two years (2009)?” Base: 878 business decision makers % who say their use of digital tactics will “increase” or “increase significantly” in 2009.
18 Entire contents © 2007 Forrester Research, Inc. All rights reserved. Despite the value and importance BDMs place on B2B media, B2B marketers spend a significant percentage of their budgets on media that BDMs use or rely on less While industry-specific media rank highly in BDM current media usage and plans for 2009, marketers spend a significant percentage of their budgets today on media that BDMs use or rely on less. Base: 816 B2B marketers Reported % trade marketing budget spent on each marketing tactic in 2007
19 Entire contents © 2007 Forrester Research, Inc. All rights reserved. Media/tacticB2B Decision MakersB2B Marketers Web based events66%50% Industry specific web sites63%45% Corporate web site59%62%* Web portals59%47% Email58%47% Industry specific trade shows OR conferences 58%40% Custom media44%41% Industry specific business magazines 44%35% General business magazine web sites39%36% Direct mail22%32%* “In 2009, how will your spending on the following marketing tactics to change compared with 2007?” In side-by-side comparisons of individual media choices, B2B marketers’ budget plans will underutilize industry-specific media in 2009 Base: 816 B2B marketers, 878 business decision makers * = over-utilized % who say their use of these tactics will “increase” or “increase significantly” in 2009
20 Entire contents © 2007 Forrester Research, Inc. All rights reserved.
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