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Marketing Budget Trends in 2022 for B2B Technology Companies

B2B Technology Companies

Marketing techniques for B2B technology companies are continually changing due to ever-shifting consumer needs. While it is difficult to anticipate what the year 2022 will bring, two factors are bound to change, evolve and mature: customer behaviour and technology. 

“Marketing leaders will turn to smarter (more autonomous and automated) solutions with complex tech stacks,” according to Forrester, and we couldn’t agree with them more.

According to a survey conducted back in December 2021, among 90+ B2B tech & SaaS marketers from across the globe, in 2022, nearly three-quarters of B2B technology company marketers (74%) aim to raise their expenditure on brand marketing. Some 14% are unsure if they will boost their brand marketing spending, while the remaining 12% think they will not. 64% of B2B IT marketers expect their marketing spend to increase in 2022 compared to last year, 32% expect it to remain unchanged, and only 4% expect it to drop.

Source: B2B Tech Marketing Budget Trends for 2022 | Study (marketingprofs.com)

Here are the top four B2B trends to look out for in 2022

Growth in B2B Marketing channels 

B2C enterprises have traditionally dominated social media advertising (except LinkedIn). This is because viewers on social media sites like Facebook and Instagram are primarily consumers trying to shop rather than professionals looking for business prospects, as the platforms’ targeting filters indicate. Expanding your presence is vital as people consume information in more and more areas. Social media may be a dynamic platform for B2B businesses, given its flexibility.

According to a research study, 82% of B2B businesses are active on social media and use all available methods to reach and engage with buyers to achieve targeted business outcomes.

Today it is also about offering an omnichannel approach to the customers, a seamless transition between platforms all through their journey. This will ensure your customers remain rooted, build trust, and boosts their experience at the end of the transaction. 

Shift in marketing spend

According to Forrester, marketing technology expenses would rise from 19% to 25% in 2022. We expect B2B organizations to spend more money on fewer but better products to streamline their systems, improve processes, boost productivity, and achieve a higher return on investment. 

The backbone of B2B marketing for B2B technology companies plans will be digital, mobile-first, hyper-targeted advertising, search, and content. 

For the first time, mobile devices such as phones and tablets will account for more than half of B2B spending. As work from home (WFH), hybrid, and remote workforces become the norm, the conventional attitude of addressing B2B buyers in work mode on laptops, desktops, and desk phones no longer applies. Unlike in-person events, which may never return to pre-pandemic levels, mobile spending is expected to treble by 2023 to $7.43 billion.

Similarly, while search will remain vital, the search type will progressively shift toward the voice, visual, and video search, aided by expanding investments in text, audio, and video content experiences that educate and engage customers throughout their trip. In 2022-2023, digital display and search advertising will reach $6 billion to $7 billion in revenue. More focus will be on lead generation & innovation as these will enable enterprises to rapidly introduce new products to the market and stay ahead of the competition. 

Investing in automation and technology will become a priority

When sales and marketing can see each other’s actions in real-time, they can make better decisions about who they’re attempting to contact and when they should reach them. For this purpose, companies will invest more in technology, especially automation, to streamline operations and processes.

There is an integration of new digital solutions within the existing systems, and all solutions are available on-premise and in the cloud. There is also a strong need for RPA, AI, ML and NLP based tools to become integrated with digital solutions to help businesses transform their processes. 

Similarly, reliance on connected devices will grow in the coming years. Companies will utilize data collected from customers to help serve them better. These elements will play a crucial role in business growth and customer retention from automobiles to technology-based businesses. 

Reshaping of metrics & analytics 

The marketing methods must evolve with evolving client needs. As a result, many B2B marketers’ traditional research and measurement methodology and monitoring and reporting on marketing performance are changing. Consumer retention can assist B2B marketers in determining how successfully their company is reacting to customer requests throughout the buying process. B2B organizations can use marketing attribution to examine the marketing touchpoints along a buyer’s route to purchase.  

B2B marketing for technology companies has been avoiding third-party cookies in 2022, as Google and Apple change how advertising can track their cookies. Better technology allows B2B marketers to take advantage of resources that were previously only available to consumers. However, it isn’t as straightforward as purchasing Facebook ads and pushing leads over the wall to the sales team. 

Therefore, it is crucial to map the customer’s journey to provide better services and solutions, adopt new technologies to meet the evolving customer demands, and rework strategies and business models to focus on the latest business objectives. This will subsequently ensure business growth and long term sustainability. Along the way, there is a strong need to update the system with advanced technology, offer real-time information and ensure you are making optimum use of the data gathered.  

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