U.S. B2B businesses - change in digital vs. traditional marketing 2023

A survey from early 2023 investigated the spending plans of B2B marketers in the United States. It revealed that B2B product-focused respondents expected to decrease their spending on traditional advertising activities by 3.64 percent in the following year. In contrast, digital marketing spending was projected to see an annual boost of nearly 8.77 percent compared to the previous 12 months.

Has traditional B2B marketing outlived its glory days?

B2B companies have long considered traditional advertising formats their golden ticket. But as businesses from various industries restructure their processes and services to match the digital demands of the time, marketing strategies must follow suit. In 2022, traditional B2B advertising spending in the U.S. stood at 17.5 billion U.S. dollars and based on the latest projections, investments will continue growing to surpass 19 billion by 2024.

The future of B2B marketing is digital

The U.S. B2B marketing landscape has experienced a digital overhaul for many years, though the shift from traditional to digital advertising was undoubtedly accelerated by the pandemic. Data showed that B2B digital advertising spending in the U.S. has nearly trippled since 2018, reaching an estimated 14.3 billion in 2022. Forecasts further suggest that this figure will catch up with traditional ad investments within a few years, highlighting the shift in marketers’ priorities. When asked about the leading marketing tactics that B2B companies planned to explore in 2023, many U.S. respondents listed artificial intelligence, video as well as influencer marketing.