B2B Companies Increase Brand Strategy Spend

Publication info: PR Newswire ; New York [New York]09 Feb 2017.

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BOSTON, Feb. 9, 2017 /PRNewswire/ -- In the next five years, 81.3% of business-to-business (B2B) companies
expect to invest more in their brand strategies, according to new research published by Boston-based brand
strategy consultancy Spencer Brenneman.
Most expect a modest increase of up to 20% or a larger one between 21-40%. That is on top of the increased spend
that took place over the past five years: 86.7% cited an increase in spending. Half of them at a rate of 20% or less,
according to the study.
"There was lots of data out there on how B2C companies were investing in their brands, but very little for B2B. So,
we set out to find it," said Douglas Spencer, Spencer Brenneman president. "We wanted to quantify the connection
between strong B2B business performance and the right brand strategy. Even we were surprised by the results."
According to the study, those bigger budgets generated real results for most, as 82.3% of the organizations that
increased their spending saw the larger investments pay off. The biggest area where this payoff occurred was
increasing sales and landing additional customers, which was true for 56% of those who cited a specific payoff.
"Another clear trend we saw was with research," said Spencer. "It pays off. Those who increased spending showed
improvement, but those who increased spending and conducted continual research did even better." (See graph.)
Spencer said that those companies with an established verbal identity also fared better, citing a 12% increase in
shareholder value as compared to those brands without a distinct voice.
Working with Connecticut-based market research firm Great Blue Research, Spencer Brenneman surveyed 150 B2B
marketing executives who consider themselves ultimately responsible for or an expert on their organization's
brand strategy.
A new white paper explains these results and more. It is available free-of-charge on the Spencer Brenneman
website, http://sbsb.us/SBPR217.
About Spencer Brenneman, LLCSpencer Brenneman helps brands in transition. Whether that's creating a new
brand from scratch, retooling one that's been around for a couple of years, or bringing together two established
ones, we show companies how to grow their businesses with the right brand strategy. For more information, visit
spencerbrenneman.com.
For more information: Douglas Spencer+1-774-260-5560145660@email4pr.com
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/b2b-companies-
increase-brand-strategy-spend-300404760.html
SOURCE Spencer Brenneman, LLC
Credit: Spencer Brenneman, LLC

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Subject: Market strategy

Company / organization: Name: PR Newswire; NAICS: 518210, 519110

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 Publication title: PR Newswire; New York

Publication year: 2017

Publication date: Feb 9, 2017

Dateline: BOSTON

Publisher: PR Newswire Association LLC

Place of publication: New York

Country of publication: United States, New York

Publication subject: Business And Economics

Source type: Wire Feeds

Language of publication: English

Document type: News

ProQuest document ID: 1866261854

Document URL: https://search.proquest.com/docview/1866261854?accountid=50247

Copyright: Copyright PR Newswire Association LLC Feb 9, 2017

Last updated: 2017-02-09

Database: ProQuest Central

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