B2B marketers set to spend more on brand strategy

Investment in brand strategy among B2B marketers is set to rise, according to new research.

A study from brand strategy consultancy Spencer Brenneman shows that 81.3 percent of B2B firms plan to spend more on brand strategy over the next five years, the Drum reports.

This is in addition to the 86.7 per cent increase in spending seen in the past five years, and the research indicates increased spending is worthwhile for B2B firms.

Over four-fifths (82.3 per cent) of businesses that upped their investment in this area reaped the benefits, with most coming in the form of more sales and new customers.

"Those who increased spending showed improvement, but those who increased spending and conducted continual research did even better," observed Spencer Brenneman president Douglas Spencer.

Mr Spencer added the aim of the research was to "quantify the connection" between B2B performance and brand strategy, noting that the majority of research done in this area in the past related to B2C companies.