Budgets Looking Up in 2010

While many B2B marketers have slashed budgets this year due to the recession, according to B-to-B magazine's May survey of over 450 marketers, half reported their budgets will be up in 2010, with an upswing beginning in the second half of the year.

It's encouraging news for the industry. According to the study, 26% of marketers' budgets are going up in second half this year, and 53% project budget increases in 2010. Where will they be spending? As expected, 69% marketers plan increases in online spending. However, not all companies are focused exclusively on the web: 38% plan to boost spending on direct mail, 38% plan increasing budgets on events, 28% plan increases in print and 14% plan budget increases in broadcast advertising.

Even better, while 44% marketers decreased budgets this year, only 10% project budget decreases next year. I guess, when you're at the bottom spending nothing, there's no place to go but up!) About 37% marketers' expect budgets to be flat next year.

It's so great hearing good news and positive trends about marketers climbing out of the gloom. It's certainly going to take a long time. Since it was such an abnormal year with so many businesses hiding and covering their heads, it feels like Q3 may be busier than usual. We're seeing things pick up, too. More companies spending money on marketing.

What do you think? Is your company on the same page with that study? Here's your chance to impact our smart survey, which will be published. We appreciate your thoughts and opinions. Which marketing channels perform the best for your business? What do you look for when hiring an agency? Take our confidential, smart one-minute marketing survey. Weigh in and win $100. Just takes one minute!