Permanent Shift to Digital Ad Spend
The business industry undoubtedly entered a recuperation phase in 2022 after the COVID-19 pandemic. The shift to digital advertising in B2B businesses, although slowing down, is not coming to a stop.
Digital ad spend continues to grow across all industries, and businesses are slowly stepping away from traditional advertising and investing more in mobile advertising and other digital forms. For 2024, eMarketer predicts that digital ad spending will represent as much as 49% of overall B2B ad spending. This means that we can expect digital ad spending to reach as much as $18.46 billion annually, as seen in the graph below.
B2B Digital Ad Spend Statistics
From 2015 to 2024, the digital ad spending forecast encompasses all advertising formats that are displayed on desktops, laptops, mobile phones, tablets, and other internet-connected devices. This includes a wide range of ads, such as Facebook’s News Feed ads and Twitter’s promoted Tweets.
It was estimated that digital B2B advertising spending in the United States would reach around 14.3 billion U.S. dollars in 2022. This amount is expected to increase to approximately 18.5 billion dollars by 2024. In just four years after the COVID-19 pandemic, the expected rise in digital ad spending numbers is roughly 10 billion U.S. dollars, a huge increase compared to four years prior 2020, when digital ad spending only rose by approximately 4 billion dollars.
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Digital Ad Spend Impact
B2B digital ad spend has had a significant impact on the digital advertising industry in several ways:
- Targeted advertising for specific audiences
- Shift towards social media advertising
- Popularization of video advertising
- Investment in mobile advertising
|B2B Digital Ad Spend Impact Overview
|Increased focus on targeted advertising
|B2B companies are using data-driven advertising techniques, such as programmatic advertising and account-based marketing, to target specific audiences with personalized ads. This has resulted in more effective and efficient advertising campaigns
|Rise of social media advertising
|B2B companies are increasingly using social media platforms, such as LinkedIn and Twitter, to reach their target audience. This has led to a significant increase in social media ad spend and a shift towards more engaging and interactive ad formats
|Growth of video advertising
|B2B companies are also investing more in video advertising, which is becoming an increasingly popular way to engage audiences and convey complex messages
|Focus on mobile advertising
|With more people accessing the internet on their mobile devices, B2B companies are increasingly investing in mobile advertising to reach their target audience on the go
Digital Ad Spend Growth by Industry
Here’s an overview of digital ad spend growth in the US in 2022 by industry:
|CPG and Consumer Products
|Healthcare and Pharma
|Computing Products and Consumer Electronics
B2B digital ad spend has been on an upward trend in recent years, and although the growth rate has slowed, the forecast for digital ad spend remains on the rise. More and more businesses are reallocating their advertising budgets from conventional channels to digital platforms, with key areas of focus, such as mobile advertising, video advertising, and social media, expecting to expand.
In the upcoming years, we will likely see slow and steady digital ad growth and less investment in traditional advertising, especially in retail, travel, and telecom industries.
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