21 Eye-Opening B2B Marketing Statistics to Know in 2024

B2B (business-to-business) marketing applies to the strategies organizations use to communicate with each other and drive sales.

The marketing efforts aim to familiarise prospects with the brand and product/service and turn them into actual customers.

Ready for the most recent B2B stats?

Let's get down to business:

Must-Know B2B Marketing Statistics for 2023

The following stats show the highlights of the B2B marketing world:

• 54% of sales agents admit that contacting prospects now is harder than five years ago.
• 52% of buyers are more inclined to purchase from vendors after reading their content.
• Website development is the number one area of marketing spend, leading with 51%.
• 46% of marketers think that account-based marketing (ABM) is the top strategy for 2021.
• By 2030, the B2B e-commerce market is expected to reach 33,317.37 billion.
• The American B2B digital ad spend is forecasted to reach almost $15 million in 2023.
• 86% of B2B marketers use LinkedIn to drive sales.
• Millennials make 73% of all B2B buying decisions.
• In September 2022, B2B product marketers in the U.S. reported that 7.78% of the company revenue went to marketing efforts.
• 66% of B2B marketers worldwide were planning to increase their B2B content marketing spending in 2022.

General B2B Marketing Statistics

The business-to-business buying and selling process is pretty complex. It involves many players, but the decision-makers have the final say.

Let’s take a closer look:

1. An average of six to ten people are involved in a B2B buying cycle.

(Source: CEO World)

77% of business-to-business buyers had an overly complex last deal.

Unlike B2C, where a sale is made within seconds, finalizing a B2B purchase can take as long as a few weeks to months.

But here’s the good news:

2. For 40% of respondents, the B2B buying cycle lasts only two to three weeks.

(Source: Marketing Charts)

The latest B2B marketing stats reveal that for 33% of B2B marketers, completing a sale takes an average of four to six weeks.

Previous research showed that 74.6% of new customer sales took at least four months.

So the cycle is getting shorter.

3. 73% of B2B buying decisions are made by Millennials.

(Source: CEO World)

When making B2B purchase decisions, Millennials (aged 26–41) want a personalized shopping experience similar to what B2C provides.

B2B marketing stats show that the business-to-business customer experience index is below 50%, while business-to-customer (B2C) brands score between 65% and 80%.

The B2B industry can also benefit from such consumer personalization—brands can track buying behaviors, target clients with ads, and thus make more sales.

4. Website development was the top marketing spend in 2021.

(Source: Sagefrog Marketing Group)

51% of B2B professionals indicate website development as the largest marketing expense in 2021.

The other marketing spending areas were as follows:

• Digital marketing—44%
• Content marketing—33%
• Branding—27%
• Social media—22%

5. In 2021, 60% of B2B tech buyers were Millennials.

(Source: Trust Radius)

Last year, Generation Y-ers were in the spotlight of B2B tech buying decisions leading with 60%. Gen X ranked second with 32%.

Baby boomers and Generation Z stayed far behind, with 6% and 2%, respectively.

B2B Content Marketing Stats

Content is a significant part of the B2B decision-making process.

But what type of content do buyers prefer?

And why is content personalization so important?

Let’s investigate further:

6. 52% of buyers are more likely to purchase from sellers after reading their content.

(Source: Marketing Charts)

Here’s what content influences purchase decisions most:

• 67% of B2B buyers find product specifications and functionality useful.
• 65% consider product comparisons important.
• 61% rely on peer recommendations and review sites.

7. 82% of online traffic in 2022 comes from videos.

(Source: Industrial Marketer)

Video content is an excellent tool for capturing a person’s attention. 82% of online users are inclined to buy goods or services after watching a video.

B2B video marketing statistics confirm that 41% of marketers already use such content to drive sales.

8. 70% of MarTech (marketing technology) buyers find the content they need on vendor websites.

(Source: Marketing Charts)

The other sources buyers of marketing technology find content are:

• Internet search—67%
• Social media—53%
• Publications—47%
• Email—41%

Let’s look at other impressive B2B content marketing stats:

9. 63% of B2B teams consist of at least three decision-makers.

(Source: Marketing Charts)

Content personalization is a significant purchase factor for buyers. That’s why sellers have to personalize their content for every decision-maker involved.

The decision-making phase is one step before finalizing the sale, so impressing all participants is crucial in closing the deal.

10. B2B buyers read thirteen pieces of content on average before making a purchase decision.

(Source: Marketing Charts)

Eight out of those thirteen pieces of content come directly from the vendor. The other five come from third-party sources.

B2B eCommerce Statistics

B2B eCommerce stands for business-to-business electronic commerce. Companies buy and sell goods/services to each other through online sales portals. A perfect example of such a site is Alibaba.com.

11. The B2B eCommerce market size is estimated to reach $7907.04 billion in 2022.

(Source: Research and Markets)

The intermediary-oriented model segment continues to lead in 2022. It allows commercial buyers and sellers to communicate and make transactions with each other through marketplaces.

B2B marketplace owners maintain a log of traders and purchasers and profit from charging fees on transactions, listings, ads, etc.

12. The global B2B eCommerce market might reach $33,317.37 billion by 2030.

(Source: Research and Markets)

Future trends show that the business-to-business eCommerce market has plenty of room for expansion.

According to the latest B2B eCommerce statistics, the compound annual growth rate (CAGR) between 2022 and 2030 is forecasted to reach 19.7%.

Such exquisite results come from the fast adoption of new technologies in the B2B eCommerce sector. Companies have become more open to integrating online channels to increase revenue, especially after COVID-19.

13. B2B online sales in the United States are predicted to surpass $1.8 trillion in 2023.

(Source: Statista)

17% of all US B2B sales in 2023 are expected to occur online.

In 2019, only 13% of all business-to-business deals in the US were digital.

B2B Email Marketing Statistics

B2B marketers use different methods to approach prospects and reach sales goals.

One of them is email marketing.

Is it still popular or fading away because of social media?

Let’s find out:

14. 54% of salespeople think today it’s harder to get in front of potential customers than five years ago.

(Source: Sales Insights Lab)

Sales agents complain that prospects don’t reply to emails or answer their phones anymore. But there are new ways of contacting potential buyers—through online media platforms.

However, the email approach is still widely used:

15. Email marketing is the most implemented B2B tactic, leading with 84%.

(Source: Sagefrog Marketing Group)

75% of B2B experts use social media as the second-best marketing tactic.

Content marketing and blogging are also in the top three, with 69%.

Let’s look at B2B social media statistics next.

B2B Social Media Statistics

16. 84% of B2B executives use social media as a source for purchasing decisions.

(Source: Leadspace)

92% of B2B buyers use social media to connect with leaders in the sales industry.

17. LinkedIn is the most used social media channel in B2B marketing.

(Source: Sagefrog Marketing Group)

86% of B2B marketing specialists identify LinkedIn as their most used social media platform.

Facebook is used by 79% of B2B marketers, followed by Twitter (60%), Instagram (60%), and YouTube (56%).

Only 5% don’t use social media.

18. Email marketing is the second-best source for driving B2B leads and sales.

(Source: Sagefrog Marketing Group)

The number one sales and leads source is, of course, referrals, with 65%.

Email marketing is second with 38%, while search engine optimization (SEO) ranks third with 33%.

B2B Marketing Trends in 2022

Businesses should always keep an eye on the latest trends in the industry. Staying relevant and up-to-date with customers' needs is crucial for achieving positive results.

Here’s what’s trending in B2B marketing:

19. 46% of marketers stated that account-based marketing (ABM) was the go-to B2B strategy in 2021.

(Source: Sagefrog Marketing Group)

The ABM strategy focuses on a selected group of high-value accounts and targets them with tailored marketing campaigns.

The other four highest-performing strategies in the top five were:

• Video marketing (41%)
• Influencer marketing (38%)
• Artificial intelligence (38%)
• Retargeting (33%)

20. B2B customers are starting to rely more on the Internet than salespeople.

(Source: Forbes)

Thorough online research is one of the B2B sales trends in 2022 that’ll only grow in the future.

B2B buyers analyze the vendor’s online presence before proceeding to the sale phase. That’s why now web content is more influential than ever.

21. It’s estimated that American B2Bs will spend over $30 billion on advertising within the United States by 2023.

(Source: Insider Intelligence)

The US B2B advertising spend was nearly $26 billion in 2021.

Digital advertising is another one of the B2B marketing trends in 2022 that will continue well in 2023.

In 2021, digital advertising was accountable for 42% of the total B2B advertising in the US. By 2023 that share is projected to grow to 48%.

22. In 2023, the US B2B digital ad spending is expected to reach almost $15 billion.

(Source: Insider Intelligence)

It’s predicted that the American B2B digital market will grow 16.8% and reach $12.65 billion in 2022.

In 2023, another growth of 15.1% is forecasted, leading to US B2B digital spending of $14.57 billion.

Wrap Up

Our B2B marketing statistics confirmed that organizations have it all covered when doing business with each other. Numbers are going up while new strategies and trends emerge.

A bright future awaits the business-to-business sector. What more can we ask for?