Social Media’s Role in B2B Marketing

Do you think business to business marketing and social media don’t go together? Do you believe traditional online efforts alone will continue to deliver quality leads? It is true that the B2C world is quicker to adopt social media and more innovative online tactics; however, there is huge opportunity for B2B companies to not only to increase brand awareness with an integrated online marketing strategy, but to also to develop stronger and more engaged relationships with customers.

To thrive in a highly competitive and fast-paced B2B environment, companies should be tapped into the marketing industry trends that can – and most likely do - influence your business’ success. Below are seven highly compelling online marketing statistics that every B2B company should know and consider when developing their marketing strategy. Statistics have been collected from two credible sources within the B2B industry: AMR International B2B Online Marketing Assessment and Forecast to 2013 and Hubspot, State of Inbound Marketing Lead Generation Report, 2010.

• B2B advertising spend on social media and lead generation sites is forecasted to grow at an annualized rate of 21% and 17% respectively to 2013
• Online accounted for 7% of the B2B marketing mix in 2008. This is set to reach 12% by 2013.
• B2B interactive marketing spending will climb to nearly $4.8 billion in 2014
• 85% of business buyers believe companies shouldn’t just present information via social media – they should also interact and engage with them
• B2B companies that blog generate 67% more leads per month than those who do not
• Only 50% of B2B marketers formally analyze metrics to judge ROI – but those that do find online marketing more effective

After reviewing the statistics above, you should be asking yourself – and your company – the following:

• Is social media part of your marketing strategy and what budget and resources do you have allocated to this tactic?
• What are my competitors doing in the social media arena?
• How do my online activities not only educate but engage my customers and prospects?
• What systems and processes do I have in place to measure the effectiveness of my online programs

What does this mean for B2B organizations? Your customers are spending more time on social networks – and so should your company.

Check out our recent white paper ‘What’s Hot (and What’s Not) In Canadian B2B Strategy and Marketing’ for further insight into marketing trends affecting B2B companies in 2012.

To learn more about strategic marketing planning, download the executive guide featuring practical tips for success from 65 CMOs.