29+ B2B Marketing Statistics to Help Your Business in 2024

The days of barter, where a sack of grain could very well cost you a cow in return, are long gone.

If our ancestors could look at what we call trade today, they’ll be blown away (or maybe denounce us as children of the evil).

A simple exchange in the digital world involves far more complexities.

And this is especially valid for the business to business (B2B) market, as the below B2B marketing statistics show.

The Most Telling B2B Marketing Statistics:

• An incredible 97% of marketers use social media to reach their target audience
• In 2017, 45% of B2B companies had a specific marketing plan
• 53% of content marketers adapt interactive content to boost lead generation
• 73% of B2B marketers say that video content positively affects their ROI
• 37 seconds is how much the average reader spends reviewing your content
• 55% of B2B customers use social media to get information on a business
• 50% of users say they’re more likely to buy from a company they communicate with on LinkedIn.
• 58% of clients say their buying decision process was longer in 2017 than in 2016

Today a successful business needs to invest more and create content that intrigues and brings value.

In the words of Siva Devaki:

“Sales is not about selling anymore, but about building trust and educating.”

So, in the spirit of educating, let’s look at the B2B market and how different it is from the B2C (business-to-consumer) market.

What Is B2B? And How Different From B2C Is It?

As its name implies, the B2B company targets clients who are businesses themselves. It’s different from B2C, where a single consumer is targeted and takes the final decision whether to purchase or not.

Understandably,

There are differences in the way marketing works for B2B. A few key ones are:

• B2B marketing content is more informational and straightforward, as it concerns bottom-line revenue impact
• ROI (return on investment) is a primary focus for B2B buyers, while B2C customers pay little to no attention to the factor
• Most of the B2B purchase decisions are made by a whole group of stakeholders in a company, rather than one consumer, as in B2C
• B2B markets require different levels of a company (product, division, corporate) to be aligned.
• B2B marketing campaigns usually involve budgets on a much larger financial scale as well.

Okay, now that we’ve figured out what B2B is and how it’s different, let’s find out more about the state of the industry.

1. Between 2006 and 2016 the manufacturing and merchant wholesale revenue of B2B e-Commerce in the US amounted to $5.79 trillion.

(Source: Statista)

Yup, that’s in trillions.

B2B in the media and information industry also sees impressive results.

2. In 2017, the revenue of the B2B media and information industry in the US amounted to $127.7 billion.

(Source: Statista)

The B2B market is big and specific.

Marketers have to approach customers with propositions that answer their business agenda.

Actively engaging the decision-makers in the B2B segment with your web marketing content, however, is not an easy job.

There are two simple reasons why that is.

1. The clients of the B2B market are businesses as well, and they have a lot going on.
2. All customers swim in a pool of information anyway. You have to constantly fight for their attention.

Those two combined make actively engaging with target audiences challenging.

You have to have a good B2B marketing strategy.

And staying up to date with the B2B marketing statistics will surely give you an idea of what to include in that strategy.

For example:

3. A study found that in 2017 mobile marketing accelerated B2B purchase by 20%

(Source: BCG)

We see a shift toward a mobile-first approach in every market segment and B2B is no different.

4. 80% of the B2B buyers use their mobile at work

(Source: BCG)

You see the mobile segment needs to be integrated into your B2B marketing strategy.

Everyone is on their phone, and so are businesses. You have higher chances to reach your audience there. B2B stats show that:

5. More than 51% of mobile users have come upon a new company or product while on their phones

(Source: Google Marketing Resources)

Dedicating marketing budget for a better mobile version of your website will draw the attention of your target audience.

6. Currently, 50% of the B2B search inquiries are made on smartphones. And the trend shows that by 2020 they’ll grow to 70%

(Source: Blue Corona)

Grabbing your audience’s attention is one thing. Winning customers, however, is another:

7. 52% of consumers prefer mobile-optimized content

(Source: Google Marketing Resources)

B2B buyer journey statistics show it comes down to presenting users with quality content they can read across all devices. We all know what an eye-soar it is to open a website that is not optimized for mobile.

A massive website trying to fit within a tiny phone display is a dreadful picture.

Not to mention that Google will push the webpage down. To put it mildly, that’s less than ideal, since:

8. Google has driven 96% of the mobile search traffic for the past few years

(Source: Hubspot)

It’s not only about pleasing customers – you need to make Google happy too.

According to B2B sales statistics, to make your mobile content competitive in 2019, you need to follow a few steps:

• Simplify your menu. Have it be intuitive, short, and accessible;
• Implement filters;
• Make it easy to spot the search field and to get back to the home page;

We see how customers in the B2B market are doing a more detailed analysis of the return of investment a particular product or service will bring them.

9. 77% of B2B clients perform a comprehensive ROI analysis before buying

(Source: Blue Corona)

As information is vast, they take their sweet time to investigate. B2B marketing stats shed light on this little-known fact.

10. 75% of customers use more sources to examine and assess their B2B purchases

(Source: Blue Corona)

Not only that, but decisions now get made by a team. This means you need to persuade more people with the way you present your service.

11. 52% of organizations involve an increasing number of buying group members

(Source: Blue Corona)

The marketing funnel has no doubt gotten longer. And marketers face the need to utilize a variety of tools to show what they can offer.

Consider incorporating strategies for a variety of B2B marketing channels and dedicate the appropriate budget for digital marketing.  That may be easier and more convenient via software for business plans.

That pays off:

12. 67% of acquisitions in manufacturing and logistics were influenced by digital innovation

(Source: Google)

We see an increase in the impact of digital marketing across all industries, including the more traditional ones as manufacturing.

Okay, then, let’s take a look at:

How Much Do B2B Companies Spend on Marketing?

Different types of companies tend to allocate different budgets for marketing, obviously.

For example, businesses in the manufacturing industry spend about 6.4% of their total budget on marketing.

Technology and software companies, on the other hand, devote an average of 9.3%.

Nonetheless, B2B firms understand the importance of spending on marketing planning.

13. In a survey Statista conducted, 10% of the questioned answered they would reinvest 15% of their companies revenues into marketing

(Source: Statista)

It’s important to focus on presenting products and services in an attractive and educational manner and most companies are already doing it.

14. We see an 18% increase in marketers who are focused on using content marketing to build audiences in 2018 compared to 2017

(Source: Content Marketing Institute)

The trend shows that marketers understand how important it is for a business to stay engaging.

Not only that but they comment that their efforts in that direction paid off.

15. 65% of marketers said their overall content marketing success in 2018 has increased, compared to 2017

(Source: Content Marketing Institute)

Nonetheless, no one is a “jack of all trades.” And as some B2B marketing statistics show:

16. 56% of respondents share they outsource at least one content marketing activity

(Source: Content Marketing Institute)

Involving outside expertise can open new possibilities. Different perspectives lead to a better understanding of the many ways you can reach your customers.

But What Is B2B Content Marketing?

Content marketing is a way to attract the customer’s attention by providing useful and relevant information to prospects and clients. It tends to work a lot better than the old-school approach of bombarding them with pitches for services or products.

Content marketing can attract and retain the attention of target groups of customers quite successfully when properly applied in the B2B market.

Keeping an eye on the latest B2B content marketing statistics will help you stay on top of the game.

We’ll see its importance growing significantly in the next couple of years.

17. It’s expected that by 2021 the content marketing industry will be worth more than $400 billion

(Source: Martech Advisor)

It’s worth reorganizing your marketing priorities to benefit from content marketing and boost company sales.

Many companies are already putting in motion plans to do so.

18. In 2018- 54% of surveyed companies that were not dedicating any resources to content marketing confirmed they plan to launch a content marketing effort within 12 months

(Source: Content Marketing Institute)

The competition will be fierce. Especially when you consider the B2B marketing statistics for 2019:

19. 62% of customers say they can make a business decision based on online content.

(Source: Blue Corona)

Prospects will evaluate your proposition in part based on your content.

Potential customers, especially in the B2B market, can be quite meticulous.

20. 38% of customer read more than 5 pieces of content before engaging with a salesperson

(Source: Marketing Charts)

Provide your prospects with enough information that relates to their problems and give advice on how to solve them. This builds you up as an authority, making it more likely they’ll trust your products and services too. And, how many people read online reviews before buying a product?

21. 43% of marketing specialists say blogging is the most important type of content

(Source: Hubspot)

That being said, B2B marketing stats demonstrate that you shouldn’t focus on mindlessly generating content.

You’ve got no more than 37 seconds to catch the interest of users. This is the time the average reader will spend on your content and you better use the time right. So, make sure that your content is not only catchy but also proofread by a reliable grammar checker.

Most specialists agree.

22. In 2017, 76% of marketers say it’s more important to produce quality content over a large quantity of content

(Source: Content Marketing Institute)

Content marketing is key. Your marketing efforts, however, should not be limited to only blogging.

Concentrate on bringing value and customers will come knocking on your door. Make most of your content freely available, but create a section where users will have to sign up for your newsletter in return.

White papers, for example, are a good way to entice them. Once they’ve signed up, you’ll have the means to establish a deeper relationship with them. It’s way easier to sell to people who know and trust you, compared to complete strangers.

B2B Email Marketing and Statistics

Why is email so important?

Well, numbers say it all.

23. 79% of B2B marketers acknowledge email as the most effective marketing distribution channel

(Source: Content Marketing Institute)

Not only do marketers agree that email marketing is very effective – prospects do too. Statistics support this fact from every angle, which makes knowing the best time to send an email crucial.

24. In 2017, 95% of buyers confirmed they agree to share their name, company and email address in return for a valuable content

(Source: Demand Gen Report)

Consumers are ready to share even their job title and industry. That can help you customize your content for them and raise your chances of success.

Email is a key way for B2B marketers to reach potential clients and remain on the prospects’ minds.

Yet, another marketing channel has been playing an increasingly important role in recent years – video content.

B2B Video Marketing Statistics

Most marketers share the same opinion about the benefits of video content:

25. 73% of B2B marketers say that video positively impacts marketing ROI

(Source: Blue Corona)

Naturally, more marketers are producing video content as part of the customers’ buying journey.

26. 81% of businesses use video as a marketing tool

(Source: Experian)

Customers seem to also agree that video marketing brings value to a business proposition as:

27. 70% of B2B clients watch videos before they make a purchase

(Source: Google Marketing Resources)

If you haven’t yet started thinking about how to implement video marketing in your strategy now is a good time to do so.

Looking into the different marketing channels, we can’t miss the rising star of B2B marketing – social media.

B2B Social Media Statistics

Even if there’s a whole team of people behind the decisions of a company, they are still all influenced by their own preferences and tastes. And B2B social media stats in 2019 show that

28. 75% of B2B buyers use social media to support their purchase decision

(Source: HubSpot)

B2B marketers know that social media platforms are a good place to create a positive relationship with prospective clients.

Decision-makers are influenced by social media. By far the most used social media channel for business is LinkedIn.

A LinkedIn profile serves as a channel to transmit relevant information. But it’s also a digital business card.

29. LinkedIn is 277% more effective in generating leads than Facebook

(Source: HubSpot)

That is almost unbelievable.

And still, some brands use ads for an extra push. Talking about leads, take a look at the lead generation companies that may come in handy.

30. 65% of B2B companies have acquired a customer through LinkedIn paid ads

(Source: HubSpot)

Investing in ads pays off, especially when you see the great influence LinkedIn has on B2B buyers.

All good and well, but when talking about B2B marketing channels, we shouldn’t forget a little thing called search engine optimization (SEO).

Marketers today can hardly go without it.

Search Engine Optimization Statistics

SEO gives an insight into how users search and find information about your brand and your competitors online.

In order for your entire strategy to work, you need to pay your dues with B2B search marketing.

Adding SEO reports and strategy to your marketing efforts will help increase your website’s visibility and rankings.

Especially if you know what’s in for you.

31. SEO generated leads have a 14.6% close rate, while outbound leads such as cold calling have only a 1.7% close rate

(Source: Business2Community)

Cold calling doesn’t yield good results because those companies aren’t necessarily looking for your products or services.

But if you do pop in the first few search results you are guaranteed to catch B2B customers’ attention. These are potential clients that are already looking for someone to buy from. With good rankings, that can be you.

And we’re not talking about paying to show up in the first few results. For most clients, that’s not how things work.

32. 80% of users ignore paid ads and go for the organic search results

(Source: Imforza)

Dedicating the resources to rank your website pays off. You get to reach customers you otherwise wouldn’t have been able to.

In conclusion, being competitive in the B2B market poses its challenges and it’s up to you as a business owner to make sure you do your best to be competitive.

B2B companies benefit from an integrated marketing strategy – the numbers paint a clear picture to support that.

Diversify your marketing efforts by including different digital channels, and you’ll stay on the positive side of the B2B marketing statistics.