MeritB2B Survey Report Shows Digital Growth For B2B Marketers
Marketers Add New Capabilities To Meet Growing Digital Customer Engagement, Resulting in Higher Average Order Value for Many Companies, MeritB2B Reports
MeritB2B, the leading provider of B2B data and performance marketing solutions, today announced the results of a survey of B2B marketers that shows a dramatic increase in digital marketing over the course of 2020 and a focus on digital growth in 2021. With business buyers mostly online for the past year, B2B marketers reported added investment into digital channels for both new customer acquisition and retention including search, display and email. For acquiring new customers, the most popular increases in investment were for search and targeted display, while email was the most popular growth channel for client retention. This shows the increasing digital sophistication of B2B marketers as they race to engage the business buyer, with 31% shifting existing budget to support new digital spend and 11% getting new budget.
B2B marketersâ€™ investment in digital is delivering value:
- 36% of B2B marketers experienced a higher average order value since January 2020
- 44% of B2B marketers saw a higher volume of activity since January 2020
Half of B2B marketers believe that their marketing spend will return to normal in 2021, while half believe that equilibrium will come in 2022. The new normal will require more digital sophistication than ever before, and will never look exactly like it did in 2019. According to a study by McKinsey, more than three quarters of business buyers and sellers prefer digital self-serve and remote engagement over in-person activity. This means that B2B marketers must continue their digital optimization and growth. Each B2B business will experience economic growth on different trajectories, and so focusing on real time data and insights is key to ensure proper spend across digital and other channels during this time of growth. MeritB2B provides B2B marketers with the data and analytics they need to deeply understand their specific target buyer behavior in order to maximize marketing spend and results.
â€œWe are very bullish on 2021 and beyond. There is tremendous optimism for growth acceleration across a wide breadth of the B2B marketplace. We will continue to keep a close eye on trends, but all indications are pointing to a strong economic year. The next few months are critical for marketers to invest in order to capitalize on what will be a robust 2021,â€œ said Rob Sanchez, CEO at MeritB2B.
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