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18 Fascinating Stats About B2B Marketing - [2020 Edition]
Business-to-Business (B2B) marketing is changing - once ruled by heavy catalogues and pushy sales reps, sales decisions are now being made online with marketing budgets comparable to the Business-to-Consumer (B2C) market.
B2B marketing is now taking centre stage with manufacturers looking to sell directly from their own websites as opposed to through distributors.
Here we look to shed light on the current trends in B2B marketing with these 18 unique stats - updated for 2020.
Hopefully these facts can help you with your B2B marketing approach - whether it's through a trade show, online or print and media advertsing.
1. The Global B2B ecommerce market is expected to reach $6.7 trillion in 2020.
That’s 27% of the overall ecommerce market - a big slice of the online marketplace. This growth has been facilitated by the change in procurement practices.
4. 73% of millennials are involved in B2B purchasing decisions.
Here’s one to make you feel old! This high number shows how dated marketing tactics won’t cut it anymore in the world of B2B marketing. Millenials are the largest generation in the working world and now are involved in influential buying positions within organisations.
9. 71% of B2B researchers start their research with a generic search
Search engines such as Google are the no.1 research tool for B2B buyers - with the majority of buyers performing a generic search rather than a branded one. Having a strong web presence by focusing on SEO and PPC is therefore extremely important for B2B marketing.
10. 43% of B2B marketers say blogging is their most important type of content.
Blogging is no longer just for B2C websites - B2B consumers are looking for specialist content on their industry. B2B companies should use their blog to demonstrate their expertise and give helpful tips and advice.
16. 60% of B2B buyers only want to talk to a salesperson once they’ve done their own buying research.
This shows how B2B marketing has changed and why content marketing is so important. Producing informative content and positioning your brand as a thought leader will be more likely to make reach buyers earlier in the decision-making process.