Minority of Building Products and Materials Manufacturers Review Marketing Strategies Quarterly
Research Sponsored by Point to Point, Centro, and the American Institute of Architects
Showcases B2B Marketing Strategies of BPM Industry
CHICAGO, July 22, 2021 (GLOBE NEWSWIRE) -- A new study examining manufacturers of building products and materials reveal that less than 50% review their B2B marketing strategies quarterly, although budgets have risen from 15% of sales (average) in 2019 to 18% in 2021. The ’ Building Materials Manufacturers Marketing Study ’ provides data on B2B marketing strategies and behaviors of the building products marketers (BPM) segment, showing how they engage customers such as architects, designers, contractors, building owners and facility managers. The information encompasses opinions from 156 BPM executives from brands selling appliances, flooring, doors, HVAC, cabinets and more.
Sponsored by Point to Point ( https://www.pointtopoint.com ), Centro ( https://www.centro.net ), and the American Institute of Architects ( https://www.aia.org ), the report is available at: https://www.pointtopoint.com/2021-bpm-research-study-white-paper-download-form
Additional findings from the report show that:
- Strategy: All respondents have B2B marketing strategies, and two-thirds developed theirs internally.
- Staffing and COVID: Staffing levels on in-house teams have been positively impacted by COVID-19; across all team roles, on average, 17% of BPMs increased staffing vs. 11% that decreased staffing.
- Agencies: Roughly three-quarters of BPMs use external marketing agencies. Eighty-four percent of BPMs with the largest marketing budgets in 2021 (18% of sales or more) use external agencies, vs. just 70% of those with smaller budgets.
- Digital marketing: BPMs still pursue legacy tactics, but digital is most likely to grow in importance through 2022. In 2020, 11% of B2B marketing budgets went to building information modeling (BIM) / specs / product data, 11% to email/marketing automation, and 10% to digital display.
“The transition to digital-driven, B2B marketing is happening fast, bringing more sophisticated tactics, channels and a wealth of customer data. The effect was magnified in a pandemic year, where marketing plans should be pivoted quickly to keep pace with consumer demand shifts,” said Megan Kacvinsky, CEO, Point to Point. “Point to Point, Centro and the American Institute of Architects created a groundbreaking benchmark study that gives BPMs the data that impacts revenue and operational success.”
Point to Point is a B2B marketing communications agency focused exclusively on the building materials and industrial manufacturing categories. Its technology partner, Centro, provides the industry’s most comprehensive, automated, and intelligent digital media platform — a software solution consolidating digital operations across programmatic, direct, connected TV (CTV), search, and social campaigns.
The data from the report was compiled through a survey of BPM professionals conducted in March 2021. Two-thirds of participating executives were CMOs, directors of business development, or directors of marketing. Most have been in their roles for more than two years, with longer tenures being common. The companies represented in the study comprise a wide range of corporate revenues: 18% with revenues of $100 million to $500 million; 33% with revenues of $500 million to $1 billion; and 49% with revenues of $1 billion or more.
Founded in 1857, AIA consistently works to create more valuable, healthy, secure, and sustainable buildings, neighborhoods, and communities. Through more than 200 international, state and local chapters, AIA advocates for public policies that promote economic vitality and public wellbeing.
AIA provides members with tools and resources to assist them in their careers and business as well as engaging civic and government leaders and the public to find solutions to pressing issues facing our communities, institutions, nation, and world. Members adhere to a code of ethics and conduct to ensure the highest professional standards.
About Point to Point
Point To Point, LLC, is composed of B2B marketing communications experts focused exclusively on the building materials and industrial manufacturing categories. We prefer to specialize so clients get the expertise they need to engage their audience and drive results.
Point To Point partners with clients to create data-driven content strategy and campaign performance through six key capabilities: Scalable Engagement, Product Launches, Database Activation, Account-Based Marketing, Driving Specification and Brand Development. Founded in 1982 in Cleveland, Ohio, the agency now has offices in Columbus, Chicago, Minneapolis and Buffalo. Visit Point To Point at https://www.pointtopoint.com.
Centro ( https://www.centro.net ) is a provider of ERP and automation software for digital advertising teams and organizations. Its technology platform, Basis, is the first of its kind SaaS advertising solution unifying programmatic and direct media buying, along with workflow automation, cross-channel campaign planning, universal reporting and business intelligence. It streamlines business operations and optimizes advertising performance by enabling marketers to plan, buy and analyze real-time bidding (RTB), direct, advanced TV, search and social campaigns in a single platform. Headquartered in Chicago with offices covering North America, South America and Europe, Centro has received numerous accolades for its commitment to employees and workplace culture.
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