B2B Advertising Spending Priorities in 2021

[dot_recommends] June 16, 2021 Manufacturing Business Strategy

Digital Ad Spend Rises with Continuing Shift Away from Traditional Media

B2B Advertising Spending Priorities: In a survey conducted among U.S. B2B marketers in January 2021, respondents were asked about the changes in their spending plans on traditional and digital media. According to B2B product focused marketers their spending on traditional advertising was expected to decline by 0.61 percent in the following year, compared to the past 12 months, while digital marketing spending was projected to increase by 14.32 percent.

How Are Manufacturers Spending Advertising Dollars?

Manufacturing marketers digital advertising spending continues to rise as they shift their B2B advertising spending priorities. Industrial companies have increasingly moved their budget from traditional offline tactics to online marketing such as banner ads and search engine ads. The combination of the rising costs of offline promotion and higher ROI of digital marketing has prompted acceleration of this trend.

Although 85% of manufacturers use print or offline promotion, they rate its effectiveness at only 34% compared to the 52% effectiveness rating of paid online ads. Given these facts, it’s not surprising that a 2021 survey of U.S. B2B marketers found plans to reduce spending on traditional ads and increase digital spending.

How Big Is the B2B Advertising Spending Shift?

In the coming year, B2B marketers expect to shift their spending dramatically.

  • Traditional advertising spending was expected to decline by 0.61%
  • Digital marketing spending was projected to increase by 14.32%

What Does B2B Digital Advertising Include?

The best digital advertising platforms vary depending on your industry and target buyers. The following represent popular digital advertising options for manufacturing marketing:

  • LinkedIn lead generation
  • Google display ads
  • Blog and website banner ads
  • Search Engine ads
  • Amazon PPC

What Are Your Manufacturing Advertising Priorities?

At StratMg, we believe that using data for marketing decisions leads to optimal results. As you consider where to spend your advertising dollars, consider these tips:

  • Look at what you have tried and how well it performed.
  • Try new things and track the results.
  • Set targets and desired outcomes for all advertising campaigns.
  • See how the actual outcomes compare.

If your not sure you have the marketing database resources needed to optimize marketing spend, get in touch. As a strategic marketing partner, we welcome the opportunity to advise you on measuring ROI and setting your B2B advertising spending priorities.

–parin

Managing Partner

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