More than 78% of industrial companies anticipate meeting or exceeding their revenue goals in 2008. That's according to the latest survey done by GlobalSpec. 468 respondents from engineering, manufacturing, technical and industrial companies participated in this survey done in the second quarter of this year.
Are you surprised by that result? I know I was skeptical until I read an article from the International Herald Tribune that said, "U.S. industrial sector rebounds." The timing of the survey, second quarter and the article, July 2008 may explain some of the upbeat outlook. I wonder what the results would look like today. 40% of the respondents indicated their marketing budget may be cut if the economy worsens.
The top four conclusions from the GlobalSpec's survey are:
- Online marketing continues it growth trends. 57% of the companies will spend more of their 2008 marketing budget online compared to 2007.
- Generating quality leads is a top marketing goal and a challenge. 72% of the respondents stated that either customer acquisition or lead generation was considered the most important factor when deciding where to allocate their marketing budget. What is new is that 49% stated generating quality leads is one of their top three challenges.
- The uncertain economy has not yet impacted industrial sector revenues.
- Tight marketing resources highlight importance of ROI. 47% of the respondents reported they had too few resources and another 31% stated that improving marketing ROI is one of their top three challenges.
You can download and read Trends in Industrial Marketing 2008 from GlobalSpec's site.