There’s no question that both BtoC and BtoB buyers are spending more time with digital media. B2B marketers have typically spent a significant portion of their ad budgets on printed trade journals to reach their buyers. New research from Acuity Group shows that B2B marketers may begin to add more digital media to their mix to reach younger buyers.
Acquity Group’s 2013 State of B2B Procurement Study surveyed the habits of B2B buyers who have control of at least $100,000 in annual corporate spending. This study included over 200 participants from a variety of industries.
One key finding of this survey is the correlation between online shopping and age. Specifically, the young corporate buyers in this survey tend to do more research and purchasing through online media than their older counterparts:
Here’s a breakout of corporate buyers and the percentage of purchasing they do online by age group:
- Ages 18–35 – 90%
- Ages 26–45 – 68%
- Ages 46–60 – 45%
- Ages 60+ 29%
In addition, when buyers are planning to spend $5,000 or more on an item, they tend to engage in research. For B2B buyers over age 60, a 30-minute research period is sufficient. But young buyers spend up to 2 hours on this process. Their diligence suggests that B2B marketers with a strong content focus can improve their chances of connecting with B2B buyers.
If you're marketing in the B2B channel, have you noticed this trend? Have you shifted more of your ad budget to digital media, and, are you focusing on content marketing to reach the younger buyers?