How much should I spend on sector-specific advertising?

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Surely you have asked yourself this question more than once... And as a result, don't deny that you haven't thought about digital or print advertising? It is at that moment that you feel like Tom Hanks, a castaway in an ocean of doubts. Luckily, this post can be your lifeboat. Are you joining the adventure?

Every day, more and more industrial companies are becoming more aware of all the benefits that digital marketing can bring to them.

A couple of years ago, industrial companies only thought of advertising in print media. Today, there is still a small sector of them that continue to rely on traditional advertising. We could call them “the resistance”, with all our affection.

Fortunately, recent research reveals that in 2017, 47% of engineering marketing canada email list specialists planned to spend 0 euros of their total budget on print media advertising. Yes, that's right.

Img 1 - of Budget in Print


Budget allocated to print advertising

That doesn't mean you have to do the same. However, throughout this post we are going to help you, or at least try to, to decide how much to invest in digital and print advertising.

Growing trend of digital advertising
According to surveys carried out over the last three years with industrial marketing technicians, continuous declines in investment in print media were revealed. The forecasts for 2017 were that these technicians would not allocate a single resource to print advertising.

Of the companies that do advertise in traditional media, 17% of them allocate less than 10% of their total budget to these actions. Meanwhile, 33% say they allocate between 10-25% of their funds. Of note, 3% of respondents say that their investment in print advertising represents 25-50% of their marketing budget.

Even though the budget for traditional advertising is getting smaller, overall marketing budgets have been increasing. The reason? People spend more time consuming ads through their mobile devices and computers than in print media. This fact, and taking into account the cost gap between online and print advertising, tips the balance very positively in favor of digital media .

Investment in print advertising depends on your target or audience
Even though we are becoming more and more digitalized, it is important to know your audience very well, since depending on their preferences, these will lead you to opt for one type of advertising or another.

For example, the 36-45 and 46-65 age groups are the most in favour of receiving advertisements via online media. Next in line is the 26-35 age group. While the over 66 age group, as expected, prefers print advertising.

Who spends the least on print advertising?
To address this issue, we will divide companies according to their growth rate: the slowest ones, we will call them “laggards”, and the companies that grow more quickly, “top performers”.

After the split, the amount of budget that each group of companies allocated to print media was analysed. Pay attention, because the results will not leave anyone indifferent...

Of the “laggards”, almost 60% of them invested more than 10% in digital advertising, while of the “top performers”, only 22% of them invested more than 10%.

The differences are significant, and whether you like it or not, it may make you rethink the way you allocate your marketing budget.

The budget you allocate to print advertising will depend on your own experiences.
Although the trends are more than clear, and position digital advertising as the best way to advertise, due to its greater impact, reach capacity, and above all, the lower cost it entails, it is therefore up to you, based on your previous experiences and the target audience you are targeting, to opt for one or the other.

Before we say goodbye, remember that 80% of the companies surveyed that are experiencing a high growth rate spend less than 10% on print advertising.

We hope we have helped you to clear up your doubts, at least we have tried. However, if you are interested in getting started in digital media, contact us, we will be happy to advise you and help you boost your industrial marketing.