More than a third of industrial marketers expect their companies to increase budgets this year, a new survey shows.

A report by GlobalSpec found that 36 per cent of respondents said they anticipate spending to increase in the second half of 2009, reports Sales Leads Insights.

This figure is up from 34 per cent in 2008 and 33 per cent in 2007 but down from 41 per cent in 2006.

However, 39 per cent of respondents said budgets will decrease in the latter half of this year, down from 43 per cent in 2008 and 49 per cent in 2007.

The report found that a quarter (25 per cent) of marketers questioned said they expect spending to remain the same – down from 23 per cent in 2008 and 18 per cent in 2007.

Industrial marketers were urged to identify the companies who plan to increase their spending so they can target the “recommenders, specifiers and buyers” with marketing and lead generation campaigns.

In a recent Marketing Week report, industry expert Russell Parsons urged businesses to manage their resources better in order to improve their efficiency of their marketing campaigns.

Related Topics: General Marketing