Converting the Most Qualified Prospects: What are Buyers spending?

Budget considerations and trends

Cost is obviously a major factor in any purchase. When it comes to major purchases like B2B technology, marketers need to understand budget allocations and the emerging trends shaping financial decisions. Fortunately, potential buyers have significant financial resources now and looking toward the future.

Average budget per technology purchase

Annual departmental technology budget

Over half of B2B buyers have significant technology purchase budgets:

having an average budget ranging from $100,000 to $500,000 per purchase

having an average budget exceeding $500,000 per purchase

of B2B buyers have an annual technology budget of $500,000 to $1,000,000

of buyers have a budget of $1 to $5 million

The budgets and opportunities will likely continue to increase:

of B2B decision-makers reported that their budget has increased or greatly increased compared to last year

anticipate an increase or significant increase in their budgets next year

WHAT DOES THIS MEAN FOR MY BUSINESS?

Buyers are reporting increasing or planned increases in technology purchase budgets. Using third-party tools to identify potential buyer power will help to prioritize outreach and marketing dollars. Leverage these tools in budgeting and marketing planning. With over half of brands anticipating an increase in budgets next year, marketers have an opportunity to assess where to deploy more marketing spend and focus content efforts with a goal of achieving credibility and confidence with buyers.