marketing budget study

High Growth Firms Spend Limited Budgets Differently From Lower Growth Peers

Just read a study that shows that high growth firms in professional services categories invested in marketing activities very differently from their lagging peers. Here’s how it breaks down: High Growth Firms put more emphasis on: Building awareness through advertising and PR Lead generation through channels such as direct mail, cold calls, trade shows and newsletters Web site upgrades Outside marketing experts and consultants Training and using non-marketing staff to generate business. Low Growth Firms were more likely to: Have no formal marketing plan Revise their strategy, structure or budget Focus on thought leadership activities such as publishing and workshops The 2008 study by Hinge  broke down companies by size and industry. The above trends were across the board.

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