B2B Advertising Statistics 2023
A survey from 2022 showed that B2B marketers plan to increase digital marketing spending for B2B products and services to 13.6% in 2023.
The best way to grow robust B2B marketing is to stay abreast of the happenings in the business world. Keeping up with market trends is most beneficial for B2B marketers.
If you’re looking for facts, trends and insight into B2B marketing, this article contains B2B marketing statistics for 2023 that will give you the knowledge you need to launch a successful marketing strategy.
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The following are B2B ad statistics you should know.
B2B Marketing Budget Statistics
The success of every business depends on how well they’re able to market their products and services. Similar to B2C, a successful marketing campaign can help increase the visibility of your B2B business, generate leads and eventually, increase revenue.
A marketing budget is essential for giving B2B businesses a distinct sense of direction when handling their marketing activities.
Here are B2B marketing statistics on marketing budgets.
- In a survey by Statista — even though marketing is essential for business growth — 32% of B2B companies allocate 5% of their overall budget to marketing. Only 13% allocate more than 15% of their budgets.
- 46% of B2B companies intend to boost their budget for content marketing within the next 12 months. Only 4% of respondents intend to decrease it.
- 55% of the budget for B2B digital marketing is allocated toward channels that enable the creation of a more customized B2B purchasing process.
- B2B companies in the banking, insurance, and finance industries devote 14% of their budget to marketing. Manufacturing-specific B2B companies devote 26% of their budget to marketing, while the healthcare sector spends 18% on marketing.
- 51% of B2B businesses that outsource their marketing activities are having issues with budgeting.
- 47% of B2B companies say that redirecting spending from physical stores to online stores has been successful for them.
B2B Marketing Teams Statistics
A comprehensive B2B marketing strategy involves various factors, including strategy and planning, monitoring outcomes, etc., which a marketing team can handle. A marketing team is the core of any business’s marketing efforts due to its many important roles in promoting a business’s products and services. The following are B2B marketing stats on marketing teams.
- 56% of B2B businesses maintain a balance between in-house marketing teams and outsourced marketing.
- 38% of B2B businesses have an in-house marketing team that conducts all their marketing activities.
- Content creation is one of the tasks outsourced by 84% of B2B marketing teams who outsource some of their content marketing.
- 50% of B2B marketing teams outsource one or more of their content marketing efforts.
- The size of the average B2B content team increased by 31% in 2021 compared to how it was in the previous year.
B2B Content Marketing Statistics
When it comes to digital marketing, content is paramount. Content marketing is a marketing strategy that can positively affect purchasing decisions. Reports show that businesses that use content marketing experience a six-fold increase in conversions compared to those that don’t. It is necessary to demonstrate expertise and thought leadership.
The following are B2B content marketing strategies:
- 52% of B2B buyers say they’re more apt to purchase after going through a brand’s content.
- 86% of B2B marketers use content marketing for awareness and visibility.
- 70% of B2B marketers utilize content marketing to create leads and generate leads.
- 68% of B2B marketers use content to build credibility and nurture subscribers and prospects.
- According to 67% of B2B content teams, top-of-funnel content is the content they create most frequently.
- A blog entry requires 3 hours and 55 minutes to write.
- The majority of marketers release fresh content several times per week.
B2B Lead Generation Statistics
One of the greatest problems facing B2B marketers is lead generation. Which lead generation strategies, therefore, produce the greatest results?
The three most popular lead creation strategies for B2B marketers continue to be content marketing, SEO, and email marketing.
Here are some B2B statistics on lead generation.
- B2B marketers dedicate 50% of their content creation efforts to creating brand awareness and interest.
- 78% of B2B businesses use lead conversions as a success metric.
- Search engine marketing (SEM) is the top lead generator for 21% of B2B businesses.
- 30% of B2B businesses say they generate the most leads from content marketing.
- Social media is the main source of lead generation for 33% of B2B businesses.
- Search engine optimization (SEO) is the top lead generator for 33% of B2B businesses.
- 38% of B2B businesses cited email marketing as their primary source of generating leads.
- 86% of B2B businesses use their websites to communicate with customers or potential customers.
B2B Email Marketing Statistics
Despite being one of the earliest forms of digital marketing, email marketing is one of the most cost-effective and popular digital marketing strategies that can help you connect with prospective customers and increase sales for your business. Email marketing is hers to stay for a long time and will undoubtedly continue to evolve.
It is a common digital marketing strategy among B2B marketers. You could earn $44 for every $1 you spend on email marketing.
Here are some B2B email marketing statistics you should know.
- More than 60% of B2B marketers use artificial intelligence to improve email send times.
- SaaS companies can create powerful brand awareness and produce over 4000 high-quality MQLs using content syndication-driven email marketing.
- 90% of B2B businesses still send marketing emails with the company name as the sender. Personalization is necessary. Show you’re a real person.
- 31% of B2B marketers believe email newsletters are the most effective way to nurture leads.
- According to 59% of B2B marketers, email is the top channel for generating income.
- 59% of consumers believe email has an impact on their purchasing decisions.
- The average B2B email open rate is 20%.
- Email marketing accounts for 16% of total marketing expenses for B2B companies.
- The typical B2B email click-through rate is 5%.
B2B Social Media Marketing Statistics
Social media marketing is effective not just for B2C firms but also for B2B businesses. Even though Facebook and LinkedIn have traditionally been the top options for B2B businesses, social media networks like Instagram and TikTok have started to gain popularity.
Your social media presence can favorably impact the consideration stage of a customer’s journey.
The following are social media statistics you should know.
- Social media content is the most commonly used type of content, with 95% of B2B marketers utilizing it in some capacity.
- For 84% of B2B executives, social media is a go-to channel for purchasing decisions.
- LinkedIn accounts for 4 out of 5 social media-generated B2B leads.
- 95% of B2B marketers post content on their social media platforms.
- 91% of B2B marketers use social media to disseminate information about their businesses.
- 75% of B2B businesses utilize social media marketing and advertising.
- 75% of B2B customers use social media when making a business transaction.
- 72% of B2B marketers use social media ads to promote their content.
- 62% of B2B businesses have received a return on investment from social media ads.
- Social media takes up 33% of a user’s online time.
- 25% of B2B marketers regard social media as the best content for boosting brand awareness.
- Social media accounts for 22% of total marketing budgets for B2B businesses.
B2B SEO Statistics
Another vital but often underused strategy for B2B businesses is search engine optimization. With SEO, your business can generate high-quality leads for no cost as opposed to pay-per-click (PPC) ads. With the help of the following B2B marketing figures for 2023, you can learn more about why SEO is an essential B2B strategy.
- 89% of B2B researchers use the internet to research potential purchases.
- An average B2B buyer conducts 12 online searches before engaging with a website.
- 29% of Google visitors only look at one page of the search results.
- 74% of B2B customers investigate products online 50% of the time before making an offline purchase.
- 71% of B2B researchers use a general, solution-focused search to discover a brand.
- 60% of B2B companies employ SEM.
- 51% of users use a search engine to discover a new business or product.
- Organic traffic accounts for 40% of internet revenue.
- The average SEO close rate is 6%, eight times more effective than conventional marketing.
B2B Video Marketing Statistics
Video marketing is one of the most significant B2B marketing trends for 2023. Videos are a very effective tool for spreading knowledge.
They are, therefore, ideal for describing products and how technologies function. The increase in video consumption also influences the adoption of video marketing by B2B businesses.
Although given the usage rate, B2B video marketing is still in its early stages compared to B2C.
Here are some statistics on B2B video marketing.
- The majority of tech buyers believe that videos are the most useful type of content.
- 7 out of 10 B2B buyers view videos during the sales process.
- Desktop users watch 87% of business-related videos.
- The effectiveness of video marketing is something B2B marketers are confident about. Considering that over 85% of B2B marketers already use or intend to use video marketing.
- Consumers prefer videos as well. About 94% of customers watch videos to learn how a product or service works.
- A marketing film should be no longer than one minute. Most viewers will watch until the end of the video if it lasts less than a minute.
- 98% of B2B marketers claim that video content converts on par with or even better than other types of content.
- 84% of the customers claimed that viewing a video motivated them to buy something.
B2B Mobile Marketing Statistics
B2B businesses cannot afford to ignore mobile users. Mobile devices account for more than 50% of all Internet traffic worldwide. Mobile marketing has become a significant marketing strategy for B2B businesses, given that Google has adopted it as a ranking factor for their search results. The following statistics are indications that mobile marketing is a useful marketing strategy for B2B businesses.
- 60% of B2B buyers claim that mobile significantly influenced a recent purchase.
- 50% of B2B inquiries take place on smartphones.
- Leading B2B businesses report that mobile influences or drives 42% of their revenue.
- 42% of B2B researchers use a mobile device when making a purchase.
- Mobile devices account for 70% of all Internet usage.
- 74% of visitors are more inclined to return to mobile-friendly websites.
- 80% of B2B customers utilize mobile devices at work.
- 90% of B2B customers say they are likely to make another purchase from a business if they have a great mobile experience.
B2B Marketing Analytics Statistics
There are various options to enhance revenue, lead, and ROI tracking in B2B marketing. Consider improving your business analytics. Here are the B2B marketing statistics you should know.
- The majority of marketers use 15 data sources for analysis.
- Only 3% of 74% of B2B marketers who set goals always succeed in achieving them.
- ‘Total sales’ is the most common metric for measuring the effectiveness of content marketing.
- 77% of B2B marketers keep tabs on their revenue.
- 86% of B2B marketers use analytics tools in content marketing.
- On average, marketers typically use six different data management tools.
- The average number of ways B2B businesses employ Artificial Intelligence is 7.
- The average number of data sources utilized by B2B marketers is 12.
- 65% of B2B advertisers monitor their sales performance.
- 63% of marketers utilize the same customer relationship management (CRM) system as their sales and support departments.
- 61% of B2B marketers monitor their online and mobile analytics.
- 59% of B2B marketers monitor their marketing leads.
- 59% of B2B marketers monitor their campaign ROI.
The most accurate method to predict the future of any industry is through statistics. Statistics indicate the direction of a change and the degree to which a shift has occurred. This enables you to assess the pace and direction of change across all functional facets of your business.
You can only keep up with B2B marketing trends if you know them. Knowing the current direction of B2B marketing will help you get ahead of the competition. You can adopt strategies and tools that suit your business better.
The B2B marketing statistics list in this article will help you stay up-to-date with the marketing trends in your industry so you can make informed marketing decisions.