Digital advertising had a heck of a year in 2020...which you probably already know. What you might not know is how B2B marketing factored into the surge.
According to eMarketer, B2B digital ad spend in the US grew 32.5% last year—and is expected to increase 24.9% this year to nearly $11 billion.
- B2B display ads “took up a greater share of US ad spending than ever before in 2020,” eMarketer said. In 2021, B2B display ad spend is expected to reach $5.09 billion, a 32.6% year-over-year increase.
- Search spend is expected to grow this year too—nearly 20%, hitting $5.36 billion, to be exact.
Reasons for the growth? “We’ve seen a pronounced shift towards e-commerce efforts in the B2B space, as Covid completely changed that marketplace, leading to companies being open to larger purchases via online channels as opposed to the traditional sales contact route,” Phillip Katz, group head of media and engagement at B2B agency Doremus, told Marketing Brew.
Old school: B2B marketers also might not have much of a choice. “Many trade pubs have either discontinued their print distribution altogether and gone 100% digital, or have made enhancing their digital platforms a priority,” Patrick Lewis, VP and media director at ad agency Mower, told us.—MS
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