10Fold, a leading B2B communications agency, has released innovative insights through its latest report, The Marketing Spend Strategy: How Marketing Executives are Funding the Future to Hit KPIs. The study, which surveyed 450 marketing leaders across North America and Europe, reveals that 65% of B2B marketers experienced budget increases in 2024, an optimistic trend amidst ongoing economic challenges.
AI and Automation Lead the Way
AI and automation investments emerged as key drivers, with 53% of marketers attributing budget increases to these advancements. A notable 71% of respondents using AI strategies reported moderate to significant growth in allocations. Industries like AI, fintech, and IoT demonstrated the highest adoption rates, showcasing how technology is reshaping marketing strategies globally.
Hiring Booms Despite Economic Uncertainty
The report also highlighted a significant uptick in workforce expansions, with 54% of marketing executives increasing staff in 2024. Surprisingly, even companies in smaller revenue brackets invested in hiring, defying trends of downsizing seen in other sectors.
Proven Tactics Remain Key
Despite embracing innovation, marketers stuck to proven methods. Top spending areas included marketing tools (33%), websites (30%), and digital ads (20%). Social media also saw a surge, with X (formerly Twitter) taking the lead as the go-to platform, favored by 57% of respondents.
Regional Insights and Future Outlook
The report underscored regional disparities. While U.S. companies diversified funding sources, German firms faced tighter budgets and ambitious KPIs. Looking ahead, 77% of respondents expect continued growth into 2025, with enhanced AI-driven campaigns and digital trade ads taking center stage.
Susan Thomas, CEO of 10Fold, shared:
“This report reveals a resilient B2B marketing community. The strategic use of technology and data is driving ROI like never before.”
What are your thoughts on the evolving marketing era? Let us know in the comments or share your insights on how your organization is adapting.
For more industry updates, research, and tips to boost your marketing game, follow SwiftMarketingInsight today!