One of the tenets of B2B sales and marketing is a focus on various industries and increasingly, services and solutions are tuned to applications that often differ by vertical markets. It makes a lot of sense rather than thinking all geographies have the same make-up and same operations across the globe.
To take a look at some differences (and similarities) we took a look at 4 major geographic areas with Global 5000 companies – USA, China, Japan and a group of countries in Europe, UK, France, Germany, Italy and Spain. For each of these, we looked at the total of our key spending metrics that include corporate training, IT spending and marketing spend.
Adding up those spending totals by major industry groups within each of the geogrphies provides a good proxy for B2B priorities and focus. Here are the top 5 industries for each region with the % of spending in each.
- Financial Services 20.6%
- Retailers & Wholesalers 13.9%
- Technology 12.7%
- Oil & Gas 9.1%
- Consumer Goods and Services 8.9%
- Financial Services 26.6%
- Oil & Gas 17.6%
- Industrials/manufacturing 10.8%
- Technology 10.3%
- Basic Materials 8.5%
- Financial Services 36.0%
- Retailers & Wholesalers 9.4%
- Industrials/manufacturing 9.2%
- Oil & Gas 8.5%
- Technology 7.2%
- Financial Services 27.0%
- Industrials/manufacturing 22.0%
- Technology 12.8%
- Transportation 12.5%
- Retailers & Wholesalers 5.1%
Looking across these groups, there is no doubt that the money and financially related industries drive all the economies. There may be even more differences if we drilled down further by other countries and get below these top level industry groupings … but they provide an interesting look at markets,