The COVID-19 pandemic has driven many B2B firms in the United States to boost spend on digital advertising in 2020, according to recent research from eMarketer.
The report was based on eMarketer B2B digital advertising forecasts for the US, released in August 2020. The researchers looked at advertising that appears on desktop and laptop computers as well as on mobile devices. A wide range of digital formats were included in the analysis, including social media advertising.
US B2Bs are forecast to spend $8.14 billion in total on digital ads in 2020, up from $6.64 billion last year. That’s 22.6% year-over-year increase.
Changes in spend have varied significantly among industries, the analysis found. For example, US B2B healthcare spend on digital advertising is up 41.2% year over year in 2020, while US B2B travel spend on digital advertising is down 44.5%.
The researchers also found that B2Bs are relying more on desktop-focused advertising formats, such as sponsored webinars, to reach audiences this year.
In 2021, year-over-year growth will slow to 10.9% and US B2B digital advertising spend will reach $9.03 billion, eMarketer forecasts.
About the research: The report was based on eMarketer B2B digital advertising forecasts for the US which were released in August, 2020.
Credit: MarketingProfs By: