A survey of marketers shows why podcasts should have a larger role in their business-to-business marketing plans. The survey by Sapio Research finds 43% of U.S. decision-makers get their business-related content and thought leadership content from podcasts. That puts podcasts on par with email newsletters, social media influencers in their sector, and webinars and Zoom calls.
The embrace of podcasting comes as business leaders spend more time consuming work-focused content. In the U.S., more than a third (35%) of those surveyed said they spend three to four hours per week consuming work-related content. And roughly the same number (34%) consume business content for five or more hours per week. Overall, nine out of ten surveyed said they spend at least one hour per week consuming business-related content.
Despite a tougher economy, MediaRadar says business-to-business advertising spending picked up during the first six months of this year. Through July, it says more than $2.3 billion was spent on B2B marketing, a three percent increase compared to a year ago.
“While that represents a modest increase that may normally indicate trouble on the horizon, we’re in uncharted waters. In 2022, even the slightest increase in B2B spending signals that advertisers are regaining their footing,” MediaRadar says in a blog post. “Unfortunately, their excitement was short-lived as rumblings of a recession forced them to rethink those increases.” It points out B2B spending was even stronger during the first quarter, with increases of eight percent between January and April.
Nevertheless, different business segments are responding to the economic slowdown differently. MediaRadar says professional services advertisers have increased their spending 11% through June. At the same time, employment service advertisers increased spending by 23% as the job market has remained tight.
MediaRadar says the pandemic hit B2B advertisers especially hard. But worries about a recession are now hanging over marketers heads as they consider their next moves. It says B2B marketers are “at a crossroads” as they face the decision of whether to cut spending until the economy improves or keep spending under the assumption not spending will hurt their business more.
“For the most part, we think it’s safe to say that pandemic-related concerns have faded,” MediaRadar says. “That said, it’s also safe to say that new concerns are popping up for some advertisers as the shifting economy throws some unknowns their way.”