As the social distancing continues with Corona 19, digital advertising spending by B2B companies is expected to continue to grow.
Marketing market research firm eMarketer predicted that digital advertising spending of US B2B companies this year will record $8.14,000, an increase of 22.6% from 2019. B2B digital advertising spending in the U.S., which recorded a growth rate of 27.5% in 2018, appeared to have turned downward, reaching 21.6% in 2019. However, due to the Corona 19 pandemic, the growth rate is expected to increase by 1%p again in 2020.
According to emarketer, the average annual growth rate of B2B digital advertising spending is ahead of the growth rate of total digital advertising spending including B2C. Between 2016 and 2019, the average annual growth rate of B2B digital advertising spending in the U.S. was 24.7%, and the growth rate of total digital advertising spending was 22.6%.
Meanwhile, as B2B buyers spend more time in front of their home computers due to the pandemic, digital advertising has become a key point of contact for B2B companies to meet potential customers. Accordingly, B2B companies are reallocating the budget allocated for offline marketing to digital advertising.
In fact, in March 2020, in a survey of B2B marketers in the United States by the B2B Marketing Zone, 43% of respondents said they changed their in-person event budget to their content production budget. Digital advertising is a major driver of enhancing content production.