B2B Marketing Budget Trends: Where’s the Money Going in 2024 and Beyond?

The B2B marketing world is like that one friend who always has a new gadget–always chasing the next big thing. And honestly, can you blame them? Trying to reach the right people with the right message is a moving target. To stay ahead, marketers are constantly tweaking their strategies and stretching their budgets. But where exactly is that money going in the coming years? Buckle up, because the “Plural Strategy Report on B2B Marketing Budget Trends ” just dropped some serious knowledge about how B2B marketers are planning to spend their hard-earned dollars from now until .

This report, hot off the presses from a March survey of B2B marketing folks across the good ol’ US of A, gives us a sneak peek into the future of marketing spend. And spoiler alert: things are about to get really interesting (and by interesting, we mean heavily reliant on tech, data, and yes, even good old-fashioned human connection).

Hold Up – Priorities Are Shifting!

Remember when marketers used to throw spaghetti at the wall and hope something stuck? (Okay, maybe not *literally*, but the sentiment tracks, right?) Well, those days are long gone. The report shows a dramatic shift in how marketing budgets are being allocated, with a clear emphasis on areas that promise measurable results and personalized experiences. Think less “spray and pray,” and more “strategize and slay.”

Tech and Data: The Dynamic Duo Taking Over the World (of Marketing)

Get ready to hear a lot more about “martech” and “big data” because these two are about to become as inseparable as peanut butter and jelly (or avocado and toast, if you’re feeling fancy). The report predicts a whopping compound annual growth rate (CAGR) in tech and data spending. That’s right, double-digit growth! Why all the hype? Well, it’s simple: B2B marketers are finally wising up to the fact that technology and data are the keys to unlocking marketing nirvana.

Here’s the deal: B2B marketers are tired of feeling like they’re shooting in the dark. They want to know *exactly* who they’re reaching, how their campaigns are performing, and what they can do to get the most bang for their buck. Enter marketing automation tools, data analytics platforms, and all sorts of other shiny tech toys that promise to make marketers’ lives easier (and their campaigns way more effective).

And let’s not forget about account-based marketing (ABM), the darling of the B2B marketing world. ABM is all about targeting specific, high-value accounts with personalized campaigns, and you can’t do that without accurate data and the right tech platforms to manage it all. So yeah, tech and data are kinda a big deal right now.

Events Are Back, Baby! (But Not Like You Remember Them)

Remember those pre-pandemic days of awkward networking events, lukewarm coffee, and swag bags full of pens you’d never actually use? Yeah, those days are gone (and good riddance!). But before you swear off events forever, hear us out. Because events are making a comeback, just not in the way you might think. The report projects an CAGR in event and sponsorship spending, proving that rumors of the death of events have been greatly exaggerated.

So, what’s driving this resurgence? Well, after years of Zoom calls and virtual conferences, it turns out that people actually miss interacting with each other in real life (who knew?). There’s just something about those face-to-face conversations, those serendipitous encounters, and yes, even those slightly awkward handshakes that just can’t be replicated online. Events provide a unique opportunity for brands to connect with their audiences on a human level, build relationships, and create memorable experiences that translate into lasting loyalty.

The Content Marketing Machine Keeps Chugging Along

Don’t worry, content marketers, your jobs are safe (for now, at least). While the report doesn’t predict any earth-shattering growth in content marketing spend, it does show that this tried-and-true strategy is still a top priority for B2B marketers. In fact, content marketing is expected to maintain a steady CAGR over the next few years.

And let’s be real, content marketing isn’t going anywhere anytime soon. After all, content is the fuel that powers all those fancy marketing automation tools and data analytics platforms. You can’t have a successful ABM strategy without high-quality content that speaks directly to your target accounts. And you definitely can’t expect people to show up at your events (virtual or otherwise) if you’re not consistently putting out valuable, engaging content that positions you as a thought leader in your industry.

The Content Marketing Trifecta: SEO, Video, and Interactive Experiences

But here’s the catch: simply churning out blog posts and white papers isn’t gonna cut it anymore. B2B marketers are realizing that they need to step up their content game if they want to stand out from the crowd and capture the ever-dwindling attention spans of their target audiences. So, what’s the recipe for content marketing success in the years to come? The report points to three key ingredients:

1. SEO Optimization: It’s not enough to just create great content; you need to make sure people can actually find it. That means optimizing your content for search engines like Google so that it shows up when people are searching for information related to your products or services. Think of it like this: SEO is the GPS that guides your target audience to your content.




2. Video, Video, Video: We’re living in a video-first world, people! From TikTok to YouTube to Instagram Reels, video is how people (especially those elusive millennials and Gen Zers) are consuming content these days. B2B marketers need to embrace video in all its forms, whether it’s creating short, engaging social media clips, producing high-quality explainer videos, or hosting live webinars and Q&As.




3. Interactive Content: Nobody likes to be talked at, especially in today’s world of instant gratification and endless entertainment options. B2B marketers need to find ways to make their content more engaging and interactive. Think quizzes, polls, calculators, assessments, and other types of content that encourage active participation and provide personalized experiences.

The Great Reshuffle: How B2B Marketing Teams Are Adapting

With all these shifts in budget allocation and marketing priorities, it’s no surprise that B2B marketing teams are also undergoing some major transformations. The report highlights several key trends in how marketing teams are evolving to meet the demands of this new era of B2B marketing:

Rise of the Specialists

Gone are the days of the marketing generalist who could kinda-sorta do it all. B2B marketing teams are becoming increasingly specialized, with dedicated roles emerging for areas like marketing automation, data analytics, content strategy, SEO, social media, and event management. This specialization allows teams to develop deep expertise in key areas, which is essential for staying ahead of the curve and executing complex marketing campaigns.

The Power of Partnerships

Let’s face it, no single marketing team can be an expert in everything. That’s why more and more B2B companies are partnering with specialized agencies and consultants to fill in the gaps in their internal teams. This allows them to tap into external expertise and resources for specific projects or campaigns, rather than trying to build out every single capability in-house.

Agile All the Way

Remember that “always chasing the next big thing” thing we talked about earlier? That’s not going away anytime soon. In fact, the pace of change in the B2B marketing world is only accelerating. To keep up, marketing teams are adopting agile methodologies that allow them to be more flexible, responsive, and adaptable to changing market conditions and customer needs. This means embracing iterative processes, data-driven decision making, and a willingness to experiment and pivot quickly when necessary.

Ready or Not, the Future of B2B Marketing Is Here

The B2B marketing landscape is undergoing a period of unprecedented change, driven by rapid technological advancements, evolving customer expectations, and a relentless focus on data-driven results. The “Plural Strategy Report on B2B Marketing Budget Trends ” provides a valuable roadmap for B2B marketers looking to navigate this complex and ever-changing terrain. By embracing the trends outlined in the report—from the dominance of tech and data to the resurgence of events and the continued importance of high-quality content—B2B marketers can position themselves for success in the years to come.

So, buckle up, buttercup. The future of B2B marketing is gonna be one wild ride. But hey, at least you’ll have plenty of data to guide your way.