More Spending on Digital with Extra Emphasis on Ads for Mobile Devices
B2B advertising spending priorities continue to shift away from traditional toward online marketing. While the growth rate in B2B digital marketing spending slowed some over the past year, digital still outpaced traditional advertising spending.
Digital Dominates B2B Advertising Spending in 2022
The growth trend in online marketing that started during the COVID-19 pandemic appears to be here to stay.
85% of manufacturers still use print or offline promotion, but they view it as less effective than paid online ads.
B2B digital advertising spending is projected to grow 16.8% in 2022 and 15.1% in 2023.
Half of B2B digital advertising spending goes to mobile and tablet advertising.
By 2023 B2B digital advertising spending is projected to be $14.6 billion. In comparison, the entire value of the trade show market in 2023 is estimated to be $14.5 billion.
What Does B2B Digital Advertising Include?
Manufacturers rely on a variety of platforms for digital advertising. The best digital advertising platforms for your company depend on your industry and target buyers.
The following options remain popular for manufacturing marketing:
Google display ads
Blog and website banner ads
Search engine ads
Take Action on your Manufacturing Advertising Priorities!
At StratMg, we know that using data for marketing decisions leads to optimal results. As you plan where to spend your advertising dollars, consider these 5 tips:
5 Tips for Planning Advertising Spending
Start with your persona and speak to their needs.
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 to the targets and then adjust!
What do you see happening with B2B advertising spending priorities? Where is your team focused?