B2B Marketing Statistics

Essential B2B Marketing Statistics You Should Know in 2024

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As the business world continues to evolve and become even more competitive, how can businesses stay ahead of the curve when it comes to marketing? This can be accomplished by staying informed and up-to-date with the latest industry insights.

Business-to-business (B2B) marketing is a rapidly growing sector of marketing in which companies market their products or services to other businesses. B2B marketers must understand the needs of their customers as well as the marketplace in order to maximize sales potential. It is also important for B2B marketers to stay on top of trends and changes in the industry and enhance their marketing campaigns accordingly.

A great way for B2B marketers to stay up-to-date on the state of their industry is to look at the most recent data available. To that end, this article will provide some useful statistics about the trends and changes taking place in B2B marketing today. By using this information, businesses can make better decisions about their marketing strategies and gain an edge over their competitors.

B2B Marketing

B2B marketing is the practice of promoting products or services from one business to another through targeted messaging and strategic campaigns.

General B2B Marketing Stats

1. B2B email marketing produces the highest ROI.

According to B2B marketers, email marketing is the top channel for generating leads with the highest return on investment. 50% of B2B marketers have reported that email marketing is the most cost-effective channel to drive revenue, with the ability to produce up to $70 per $1 invested.

Search optimization and marketing came in second place for ROI, with 43% of B2B marketers reporting success, and content marketing came in third with 34%. These statistics confirm the effectiveness of email marketing as a lead-generation and revenue-driving channel.

2. More than 70% of B2B companies in the US have a formal B2B marketing plan.

The majority of B2B companies in the US recognize the importance of having a clear and defined plan for their marketing efforts. This could indicate that these companies understand the need for strategic planning and budget allocation in order to effectively reach and engage their target audiences.

Additionally, it may also suggest that these companies have a better understanding of their customers and the market, which in turn enables them to make data-driven decisions. This can be beneficial in terms of achieving better ROI and reaching marketing goals more efficiently.

Overall, it is important for B2B companies to have a well-defined marketing plan in order to stay competitive and reach their desired target audiences.

3. A third of B2B companies dedicate 5% of their budgets to marketing.

According to a report on B2B spending, a significant portion of US companies understand the importance of investing in marketing. 32% of companies allocate 5% of their budgets towards marketing efforts, while 47% allocate 10% or more.

On the other hand, 23% of companies do not prioritize marketing and spend 1% or less of their budgets on it. Additionally, 13% of companies reported dedicating over 15% of their total budgets to marketing.

4. In 2020, website development was the top B2B marketing spending area.

According to recent statistics, the importance of a company’s virtual presence cannot be understated when it comes to brand awareness and credibility.

To keep up with digital trends, many companies are prioritizing website development in their marketing budgets, with 51% of B2B marketing spending going toward this area. Digital and content marketing come in as the next priorities, with 44% and 33% of B2B marketing spend respectively.

5. Referrals are still the largest source of sales and marketing leads.

Referrals remain the most highly-ranked source of quality leads, with a strong majority of B2B companies, 65%, citing them as a primary source. The networking nature of B2B interactions is the main reason why word-of-mouth marketing remains crucial. Additionally, other sources such as email, SEO, and social media are also gaining traction, with 38%, 33%, and 33% of B2B companies citing them as important sources of leads.

6. The B2B ecommerce market is estimated to reach $20.9 trillion by 2027.

The B2B market is expected to experience significant growth in the coming years, with a projected compound annual growth rate (CAGR) of 17.5% until 2027. The rise of online commerce platforms has made it easier for business buyers to make individualized purchases, and companies that effectively personalize their offerings are likely to see the most success.

The COVID-19 pandemic has accelerated this trend, and by 2027, the B2B ecommerce market is projected to reach $20.9 trillion.

B2B Marketing Budgets

7. 46% of B2B companies plan on increasing their content marketing spend within the next 12 months

A significant portion of B2B companies recognizes the potential value of content marketing as a strategy for driving business growth. By increasing their content marketing spend, these companies are indicating that they believe that investing in creating and distributing valuable content can be an effective way to generate leads, build brand awareness, and ultimately drive revenue.

Additionally, the fact that only 4% of respondents plan on slowing down their spending on content marketing indicates that there is a general consensus among B2B companies that content marketing is an important and worthwhile investment. This suggests that content marketing is still considered an effective strategy for driving business growth in the B2B world.

Spending on digital advertising is set to reach $375 billion by 2021 

Speaking of budgets, eMarketer predicts that worldwide spending on digital advertising will reach record-breaking levels by next year.

Needless to say, a good chunk of that will be spent on B2B ad campaigns, like LinkedIn ads, conference sponsorships, and Google Ad campaigns.

This increased spend is partly due to the fact that thousands of brands are moving their products and services online for the first time. And they’ve quickly realized that online ads can bring in customers faster than content and SEO.

According to eMarketer, worldwide spending on digital advertising is expected to reach new heights in the coming year. A significant portion of this spending is likely to be directed towards B2B advertising campaigns, such as LinkedIn ads, conference sponsorships, and Google Ad campaigns. The reason for this increase in spending is partly due to the fact that many brands are now moving their products and services online for the first time, and they have come to realize that online advertising can bring in customers more quickly than content and SEO.

B2B Lead Generation Statistics

78% of B2Bs use lead conversions as a performance metric

78% of B2Bs (business-to-business companies) use lead conversions as a performance metric. This indicates that a significant majority of B2B companies prioritize and track the number of leads that are converted into paying customers.

Lead conversion rate is a key indicator of the effectiveness of a B2B’s sales and marketing strategy. By tracking the number of leads that convert, B2Bs can identify which strategies are most effective in attracting and converting potential customers. This information can then be used to optimize their sales and marketing efforts to improve overall performance.

Additionally, using lead conversion rate as a performance metric also allows B2Bs to measure the return on investment (ROI) of their sales and marketing efforts. It is an important metric to track as it directly relates to the business’s revenue. By understanding the ROI of their campaigns, B2Bs can make informed decisions on how to allocate their marketing budgets.

The average MQL to SQL conversion rate is 13%

The average MQL to SQL conversion rate is 13%. This statistic measures the effectiveness of a company’s lead generation and nurturing efforts. MQL, or Marketing Qualified Lead, is a lead that has been identified as having a higher likelihood of becoming a customer. SQL, or Sales Qualified Lead, is a lead that has been identified as ready to engage in a sales process.

A conversion rate of 13% means that for every 100 MQLs, 13 are converted into SQLs. This indicates that out of the leads that a company generates, only a small percentage are considered ready for sale. This can help a company identify areas of improvement in its lead generation and nurturing processes.

B2B Content Marketing Statistics

It takes 3 hours and 55 minutes to write a blog post 

It takes an average of 3 hours and 55 minutes for B2B marketers to write a blog post. This can vary depending on factors such as the topic’s complexity, the post’s length, and the writer’s experience level.

This time investment can be significant, and it’s important for companies to consider the potential ROI of their blog content. A well-written and informative blog post can help drive traffic to a company’s website and generate leads. It can also establish the company as a thought leader in their industry and improve its search engine rankings.

However, companies should also consider other forms of content, such as videos or infographics, which may require less time to produce but can still be effective in reaching their target audience.

Content ranking on page 1 of Google has 1,447 words, on average

On average, content that ranks on the first page of Google tends to be longer in terms of word count. Specifically, it averages around 1,447 words. This could mean that longer content is seen as more valuable by Google’s algorithm and is therefore more likely to rank higher.

However, it is important to note that this does not necessarily mean that shorter content cannot rank well on Google. The content’s quality, relevance, and other factors also play a crucial role in its ranking. Additionally, this statistic may vary depending on the specific industry or topic being searched for.

67% of B2B content teams say top-of-funnel content is the type of content they create the most

Most of B2B content teams, 67%, prioritize creating content that targets the top of the sales funnel. This could mean that these teams are focusing on creating content that is intended to attract and engage potential customers early on in their buying journey.

This type of content may include blog posts, whitepapers, ebooks, and infographics, which aim to educate and inform the audience about a specific topic or industry.

This focus on top-of-funnel content could indicate that these teams strongly emphasize building brand awareness and generating leads. By creating a steady stream of valuable and informative content, B2B companies can attract and engage their target audience, and in turn, increase their chances of turning those leads into paying customers.

Additionally, creating top-of-funnel content is a cost-effective way of building brand awareness and generating leads, which might be why 67% of B2B companies focus on this type of content.

Listicles Get 218% more shares than “how to” tutorial-style posts

 Listicle-style content, which typically presents information in a list format, is more likely to be shared on social media than tutorial-style posts. This could be because listicles are often more visually appealing and easy to scan, making them more likely to catch the attention of readers. 

Additionally, readers may find lists more engaging and interactive which could lead to higher shares.

It is important to note that this statistic is not conclusive and may not apply to all industries or niches, but it suggests that listicle-style content may be more effective for driving engagement and social media shares. As a B2B marketer, it is important to consider the type of content that resonates with your target audience, and test different formats to see which ones perform the best.

52% of B2B buyers say they’re “definitely” more likely to buy from a brand once they’ve read their content 

Companies can attract and engage potential buyers by producing valuable and informative content. By providing useful insights and information, companies can establish themselves as thought leaders in their respective industries, and establish trust and credibility with their target audience.

Additionally, this statistic also highlights the importance of targeting the right audience with the right type of content. As 52% of B2B buyers say they’re “definitely” more likely to buy from a brand once they’ve read its content, it’s important for companies to ensure that their content is relevant and tailored to the specific needs and pain points of their target audience. By understanding the needs and wants of their target audience, companies can create content that will resonate with them, and ultimately drive more conversions.

B2B SEO Statistics

Before interacting with a website, the average B2B buyer conducts 12 different online searches

This statistic suggests that B2B buyers are doing extensive research before making a purchasing decision. On average, they conduct 12 different online searches before interacting with a website.

This highlights the importance of having a strong online presence, including a well-optimized website and a good reputation, as well as a consistent and informative presence across multiple online platforms.

It also indicates that B2B buyers are likely searching for information on different products or services, comparing different options, and gathering information on pricing and quality.

Therefore, it is important for B2B companies to have comprehensive and accurate information available online to attract potential buyers and convert them into customers.

29% of Google users only visit one page from the search results

This statistic highlights the importance of having a strong online presence and search engine optimization (SEO) strategy for B2B companies. When potential customers conduct online searches, it’s crucial for a company’s website to rank high on the search results page.

If a website does not appear on the first page or is not easily accessible, it is likely that customers will not visit the site.

Additionally, with 29% of users only visiting one page from the search results, it is essential for a company’s website to be visually appealing and user-friendly to keep visitors engaged and increase the likelihood of conversion.

B2B Social Media Marketing Statistics

Social media is a source in making purchasing decisions for 84% of B2B executives 

Social media is playing an increasingly important role in the B2B purchasing process. A significant 84% of B2B executives use social media as a source of information when making purchasing decisions.

This highlights the importance for B2B companies to have a strong social media presence and use it to connect with potential customers and showcase their products or services.

Additionally, this shows that social media platforms are useful for B2C companies and B2B companies to reach their target audience and influence their purchasing decisions.

4 in 5 B2B leads from social media come through LinkedIn 

This statistic suggests that social media plays a significant role in the purchasing decisions of B2B executives.

Furthermore, it highlights the specific platform of LinkedIn as a leading source for B2B leads through social media. This may indicate that LinkedIn is a particularly effective platform for B2B companies to market their products or services. It could also suggest that LinkedIn is a popular platform among B2B executives for networking and researching potential vendors.

It’s worth noting that B2B companies should also not overlook other social media platforms, as it’s important to be present where your target audience is. However, focusing on LinkedIn could potentially yield a higher return on investment for B2B companies.

B2B Marketing Analytics Statistics

Total sales are the most common success metric for content marketing 

One important metric that businesses use to gauge the success of their content marketing efforts is total sales. This makes sense, as the ultimate goal of content marketing is to drive conversions and generate revenue.

Measuring total sales allows businesses to track the direct impact of their content marketing on their bottom line. It also allows them to compare the ROI of their content marketing efforts to other forms of marketing, such as paid advertising or events.

Additionally, tracking total sales gives businesses insight into which types of content are most effective at driving conversions. For example, a business might find that blog posts about product features generate more sales than those about industry trends. This information can then be used to inform future content creation and distribution strategies.

Overall, the statistic that “Total sales is the most common success metric for content marketing” highlights the importance that businesses place on revenue generation as a result of their content marketing efforts. It also shows that businesses are tracking the effectiveness of their content in terms of its direct impact on the bottom line.

B2B Buyer Journey Statistics

Over 70% of business buyers watch videos to complete their product research.

This statistic suggests that a significant portion of business buyers are utilizing video content as a means of researching products before making a purchase. This highlights the importance of incorporating video content into a company’s marketing strategy, as it can be a key factor in reaching and engaging potential customers.

Furthermore, it also implies that companies should focus on creating informative and engaging video content that addresses the needs and concerns of their target audience. This can help to build trust and establish a company as a reputable and reliable source of information within its industry.

Additionally, this can also help to increase the chances of converting a potential customer into an actual customer, as the video content has played a key role in their purchase decision.

Business buyers read 10+ pieces of content before making a decision.

This insight suggests that business buyers are conducting thorough research before making a decision. They are not relying on a single source of information, but rather looking at a variety of different content pieces in order to gain a comprehensive understanding of a product or service. This could include reading articles, watching videos, or looking at case studies.

It also highlights the importance of having a strong content marketing strategy in place for B2B companies. With business buyers consuming so much content before making a decision, it is crucial for companies to have a variety of different types of content available that can help educate and inform buyers at different stages of the purchasing process.

Additionally, this statistic also emphasizes the importance of having a strong online presence. With so many business buyers conducting research online, it is important for companies to have a website that is easy to navigate and provides valuable information. They should also have a presence on social media and other platforms where buyers are likely to be looking for information.

Over 70% of B2B decision-makers prefer remote or digital interactions.

A majority of B2B decision-makers prefer to communicate and engage with businesses remotely or through digital channels. This could be through email, phone, video conferencing, or online chat. This trend is likely driven by the convenience and flexibility that digital interactions provide.

This preference for digital interactions may also indicate that B2B decision-makers are becoming more comfortable with technology and are finding it to be an effective way to research and evaluate products and services. Businesses that can offer a seamless and efficient digital experience may have a competitive advantage in reaching and engaging with these buyers.

Additionally, this trend highlights the importance of having a strong online presence and being able to effectively communicate and engage with potential customers through digital channels. This could include having a user-friendly website, active social media accounts, and engaging email campaigns.

Over 70% of B2B buyers spend over half of their research time online.

According to a recent study, a majority (over 70%) of B2B buyers spend a significant amount of their research time online. This indicates that the internet and digital channels are becoming increasingly important for B2B buyers when making purchasing decisions.

This statistic highlights the need for B2B companies to have a strong online presence and to be easily accessible to potential customers through digital channels. It also suggests that traditional methods of reaching out to B2B buyers, such as in-person sales calls, may not be as effective as they once were.

In order to effectively reach and engage with B2B buyers, companies should focus on building a comprehensive digital strategy that includes an optimized website, active social media presence, and targeted digital advertising campaigns. Additionally, creating and distributing valuable content that aligns with the information needs of B2B buyers can help to establish the company as a thought leader in their industry.

18% of B2B switched all their suppliers during the pandemic.

This statistic suggests that a significant portion of B2B companies have made significant changes to their supplier relationships during the pandemic.

One possible reason for this is that the pandemic has created a volatile economic environment, which has made it more difficult for businesses to predict their future needs. In this context, companies may have been more likely to explore new supplier options in order to ensure they had the resources they needed to operate and adapt to the changing market conditions.

Another possible reason is that the pandemic has made it more difficult for companies to maintain their existing supplier relationships. For example, disruptions to global supply chains and increased uncertainty may have made it more difficult for companies to rely on their usual suppliers to meet their needs. As a result, they may have turned to new suppliers who were better equipped to navigate the pandemic-related challenges.

It’s also possible that companies may have changed suppliers for non-pandemic related reasons such as cost, quality, innovation, or sustainability.

Overall, this statistic highlights the importance of flexibility and adaptability in B2B supplier relationships, especially during times of crisis. Companies that are able to quickly identify and engage new suppliers as needed are likely to be better positioned to weather disruptions and maintain their competitive edge.

The process of buying lasts up to 4 months for nearly 75% of buyers.

The process of purchasing goods or services for B2B companies tends to be a long and deliberate one. On average, 75% of buyers take up to 4 months to make a final decision. This could be due to a number of factors, such as conducting extensive research, seeking approval from multiple stakeholders, or negotiating contract terms.

It’s important for companies to keep this in mind when developing their sales and marketing strategies. Instead of focusing solely on closing a sale quickly, they may need to invest more time and resources into building relationships and providing valuable information to potential buyers throughout the decision-making process. Additionally, this also highlights the importance of having a lead nurturing strategy in place.

Over 50% of B2B queries are done via smartphones.

A significant portion of B2B buyers is conducting their research on mobile devices, specifically smartphones. This could indicate that B2B buyers are becoming more comfortable with using their mobile devices for business-related tasks and that they are looking for information in real-time, on the go.

Companies should keep this in mind when creating and optimizing their digital content, as it should be easily accessible and readable on mobile devices. Additionally, mobile optimization should be a key consideration when creating B2B e-commerce platforms, landing pages, and other digital assets.

This trend of using smartphones for research also highlights the importance of having a solid mobile presence, including a mobile-friendly website, app, and social media profiles. This will ensure that B2B buyers can easily find and interact with your brand, regardless of the device they are using.

Almost half of B2B purchases were made online in 2020.

This statistic highlights the growing trend of B2B purchases being made online. In 2020, nearly half of all B2B purchases were made through digital channels, indicating that more and more businesses are turning to the internet to make their buying decisions. This shift towards online purchasing may be driven by convenience and the ability to easily compare different products and suppliers.

Additionally, this trend could also be a result of the impact of the COVID-19 pandemic on the way businesses operate. With many companies shifting to remote work, the ability to make purchases online may have become more important. It also suggests that the B2B industry is catching up to the B2C industry in terms of e-commerce adoption. It is becoming more important for B2B companies to have a strong online presence and to make their products and services easily accessible through digital channels.

70% of business buyers find content directly on the vendor’s website.

A majority of business buyers are actively seeking out information on vendor websites during their research process. This highlights the importance of having a strong, informative website for B2B companies. It also suggests that buyers may not be relying heavily on third-party sources for information on potential vendors and products.

Additionally, it may indicate that buyers are more likely to trust and consider vendors that have a professional, well-maintained website. Having a strong online presence can help establish credibility and trust with potential buyers, which can ultimately lead to increased conversions and sales. This is why it’s important for B2B vendors to have a website that is optimized for conversions and user experience.

Sources: Backlinko, 99firms

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Tumisang Bogwasi

Tumisang Bogwasi, a 2X award-winning entrepreneur and is the founder of The Brand Shop, specializing in innovative branding strategies that empower businesses to stand out. Outside work, he enjoys community engagement and outdoor adventures.