Business-to-business (B2B) and business-to-consumer (B2C) companies are increasingly relying on social media to achieve their marketing goals. With more than 2 billion people worldwide using social media, it has become an essential tool.
For B2B companies that sell products or services to other businesses, such as manufacturing companies, social media marketing is all about generating leads. Social media channels offer a way to target specific customers, such as individuals or entire organizations. This is crucial because the buying process for B2B companies typically involves multiple decision makers, according to Rohan Iyer, creative content strategist, web analyst, and conversion optimization specialist at digital marketing firm E2M. B2B companies are hesitant to venture into social media because they rely solely on website traffic analytics to measure the effectiveness of their online content (articles, white papers, videos, images, etc.). However, this can also be measured on social media using analytics for each platform and direct interactions with followers (individuals and businesses). This has led more and more companies to incorporate social media into their marketing plans.
“As the number of social media users continues to grow worldwide, companies will become increasingly aware of the impact social networks have on their revenue and sales,” says Kristen Herhold, content developer and marketer at B2B ratings and reviews company Clutch.
The business-focused platform LinkedIn has proven effective for B2B. A survey of B2B companies by social media marketing firm Oktopost found that just over 80 percent of sales leads are generated through the platform. Twitter and Facebook generate about 13 percent and 7 percent, respectively. Social media platforms help B2B companies present information about their products and services and share their expertise, skills, and even advice with a wider and more targeted audience. According to Crutch, B2B companies typically use social media with the goal of becoming an authority in their respective industries.
Dave Chaffey, CEO of Smart Insights, a strategic digital marketing publisher and platform, said, “B2B lends itself well to curated content, where brands can help their audience by sharing curated news and best practice content to help develop their personal skills and careers.”
Meanwhile, B2C companies make specific efforts to encourage individual customers to make a purchase. Social media marketing is ideal for these companies because it can reach a large audience. According to a Clutch study, nearly 60% of B2C companies surveyed said social media has helped them increase revenue and sales, compared to 46% of B2B companies. Additionally, 96% of these B2C companies cited Facebook as the most valuable social media platform for achieving specific goals.
“When you think about the way people think on social media, it makes more sense for B2C companies,” says Steve Pearson, CEO of Friendemic, a company that provides online reputation tools, platforms, and marketing services. “They’re in consumer mode, not business mode.”
Ben Green, operations manager at Oktopost, says social media — Facebook is the gold standard for B2C marketing — can help B2C companies increase community engagement as well as product promotion and brand awareness. B2B companies can see similar benefits depending on their goals, audience, and the content they share.
“The ultimate goal of any business is to make money, and social media helps increase revenue and sales,” says Clutch’s Herhold.
