While growth in the larger digital ad market has come to a stall during the pandemic, COVID-19 has pushed B2B advertisers to rely heavily on paid digital ads—more than ever before.
How has the coronavirus pandemic affected US B2B digital advertising?
When B2B marketers could no longer connect with buyers in person, digital ads had to work overtime and have been a primary touchpoint to get in front of targeted audiences. We estimate that US B2Bs will spend $8.14 billion on digital ads this year, up 22.6% from 2019.
How are B2B advertisers reaching their audiences during the pandemic?
B2Bs are relying more on desktop formats to reach audiences. Sponsored webinars and virtual events through publishers are now the norm, as are search and social media ads.
Which B2B industries are driving growth in US B2B digital ad spending?
The pandemic has significantly affected the healthcare sector, which will have the most growth in US B2B digital ad spending this year, up 41.2% year over year. Tech products and services, financial services and telecom are also bolstering the B2B digital ad market’s upturn.
How has the coronavirus affected the B2B digital travel ad market?
While other sectors are expected to have strong growth during the pandemic, B2B digital travel ad spending will fall 44.5% this year.
How are B2Bs using account-based advertising?
B2Bs are adopting account-based marketing (ABM) ads at high rates to target very specific companies. Many relied on these types of targeted ads pre-pandemic, but the tactic is becoming increasingly popular due to a lack of in-person events. Still, targeting buyers at home could be challenging for B2Bs in the future, as most ABM ad vendors rely on reverse IP address detection and soon-to-be-dead cookies.
WHAT’S IN THIS REPORT? This report breaks down the market factors and B2B-specific considerations that spurred the increase in US B2B digital ad spending. It also looks at the total B2B ad market and specific industry breakouts.
KEY STAT: In the US, B2B digital ad spending is growing 22.6% year over year amid the coronavirus pandemic.
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