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Published on: June 4, 2021 / Updated on: June 12, 2021 – Author: Konrad Wolfenstein

Digital Marketing Agency - Image: wavebreakmedia|Shutterstock.com

Online Marketing Agency – Image: wavebreakmedia|Shutterstock.com

Marketing strategies and trends

There are various marketing strategies used by B2B companies to promote their products and services. B2B (business-to-business) marketing refers to marketing activities aimed at business entities such as manufacturers, suppliers, and retailers. Some of the most popular traditional advertising methods are in-person events such as trade shows and conferences. These events allow companies to showcase their products, build brand awareness, and network with other businesses and potential partners. The global market value of B2B trade shows is estimated to exceed $40 billion by 2023, with a large portion of the total volume concentrated in the US. However, while these formats remain among the most profitable B2B media strategies, marketers are increasingly turning to digital channels: US marketers predict that advertising spending on traditional media will decline in 2020, while spending on digital marketing for both B2B products and services will increase.

Content is key

In 2019, spending on digital B2B advertising in the United States exceeded an estimated six billion US dollars. This allocation toward digital marketing channels reflects the general digital transformation in the B2B landscape. The adoption of B2B e-commerce solutions has increased significantly in the United States in recent years. Alongside lead generation tactics such as email marketing and search engine optimization, one of the most effective B2B online marketing tools is content marketing. B2B marketers primarily distribute paid content through social media, sponsorships, or search engine/pay-per-click methods to build brand awareness and ultimately generate high sales/ROI. Leading social media platforms used by B2B marketers worldwide include Facebook, LinkedIn, Instagram, Twitter, and YouTube.

Trends and developments in the B2B marketing landscape

Another trend gradually transforming B2B marketing in the United States is the implementation of marketing technologies. In 2019, the global MarTech industry was valued at over $131 billion. As marketing technologies continue to facilitate customer acquisition and retention, they will play an increasingly important role in the marketing landscape of the future. The nature of this future will also depend on the impact of the coronavirus (COVID-19) pandemic. In the US, B2B marketing spending had already declined by more than 50 percent by early 2020, and while the pandemic continues to cause significant setbacks, a growing digital shift in marketing resources and efforts is already becoming apparent.

Marketing strategy: Percentage of B2B companies with their own in-house marketing teams

Percentage of B2B companies with their own in-house marketing teams – Image: Xpert.Digital

In 2019, B2B marketers in the United States were surveyed about their marketing plans and strategies. The survey found that 41 percent of the responding B2B companies conduct marketing activities internally, while the remaining percentage either handle these tasks in-house or outsource them.

59% – External marketing agencies and in-house
41% – In-house

B2B companies – Changes in digital vs. traditional marketing 2020

US – B2B companies – Change in digital vs. traditional marketing 2020 – Image: Xpert.Digital

Changes in digital marketing and traditional advertising spending, according to B2B CMOs in the US. 274 respondents; marketers at for-profit companies.

A survey of US B2B marketers conducted in June 2020 asked respondents about changes in their spending plans for traditional and digital media. According to the B2B-focused marketers, their spending on traditional advertising is expected to decrease by 1.82 percent next year compared to the previous 12 months, while spending on digital marketing is projected to increase by 10.27 percent.

Marketing Technology: Marketing Automation

Marketing Technology: Marketing Automation – Image: Xpert.Digital

Market share of leading marketing automation solution providers in the United States, as of July 2020

26.05% – Hubspot
13.01% – Adobe Marketing Cloud
9.18% – Oracle Marketing Cloud
6.34% – Salesforce Pardot
6.06% – Active Campaign
4.29% – Marketo
3.39% – Demandforce
2.95% – SharpSpring
2.75% – Salesforce Marketing Cloud
2.24% – Drawbridge

The top three marketing automation solutions chosen by US industry experts are Oracle, Adobe, and HubSpot, which together account for slightly more than 48 percent of the market. Of the three, HubSpot is estimated to be used by about 26 percent of customers. That's a pretty impressive result, considering that the figure is only slightly lower than the combined usage of the other two solutions. Reasons for choosing marketing technology solutions: The entire global marketing automation market is projected to reach $15.6 billion in 2019 and continue to grow to $25.1 billion by the end of 2023. Its increasing value is not surprising given the growing popularity of digital omnichannel marketing. It's now essential to have a holistic view of these channels and their performance, hence the popularity of technologies that automate repetitive tasks (such as email marketing) and tools that facilitate the use and analysis of big data. These are, in fact, some of the main reasons why marketers favor certain technology providers over others. These technology solutions are also expected to integrate well with other marketing and sales software (e.g. CRM) to accelerate joint processes.

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Xpert.Digital – Konrad Wolfenstein

Xpert.Digital is a hub for industry focusing on digitalization, mechanical engineering, logistics/intralogistics and photovoltaics.

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