B2B social media marketing

From CEOpedia | Management online

Social media consists of Internet-based applications that work by using the ideological and technological basis of Web 2.0 and enable the creation and share of User Generated Content [1]. Social media are commonly used as marketing tools. The purpose of social media marketing is to boost website traffic or brand awareness, through the use of social media networking sites [2].

According to Kipp Bodnar and Jeffrey L. Cohen "B2B social media marketing is a new set of marketing tools that integrates with existing marketing strategies to help you work smarter instead of harder". The use of social media marketing in an appropriate way, may reduce marketing expenses and increase lead volume[3].

B2B and B2C companies in social media marketing

Some authors suggest that business-to-business companies usually have difficulties in identifying and integrating the platforms into their digital marketing mix. In contrast, business-to-consumer companies are adopting social media marketing smoothly and immediately recognize it as an important strategical tool[4].

On the other hand, Bodnar and Cohen claim that "B2B companies are better suited for social media marketing than B2C companies".They give 5 reasons to support their claim[5]:

  1. Clear understanding of customers - B2B marketers know much more than B2C marketers about the behavior, habits, and desires of their prospects and consumers. They also have clearly defined details for every prospect they are working to reach. Achieving this level of familiarity and clarity is a large benefit in social media marketing.
  2. Depth of subject matter expertise - B2B companies develop new industries or innovate in existing ones. It means that B2B companies' workers are the main specialists within a particular industry. Possessing the depth of knowledge is a significant advantage in the quest for social media marketing success because social media is usually used as a tool for educating prospects through content and relationships.
  3. Need for generating higher revenue with lower marketing budgets - B2B marketers are continually searching for value on a quest to maximize cost per lead. "Social media acts as a lever to help reduce cost per lead". In other words, social media allows to do more with less.
  4. Relationship-based sales - B2B sales are based on relationships. Building strong relationships is very important with huge purchase prices and lengthy sales cycles. Improving lead quality and reducing sales cycle length is possible thanks to the social web facilities relationship building throughout the sales and marketing cycle
  5. Long experience in this area - B2B marketers have been social media marketing pioneers, although they probably have not known it. These marketers were publishing newsletters, monthly magazines, or other promoting strategies that refer to key social media marketing techniques, long before the social web. They also have experience in telling business-focused stories and educating customer with a particular content.

Examples of B2B social media marketing

  • LinkedIn: LinkedIn is a social media platform that focuses on professional networking, career advancement, and job search. It is a great tool for businesses to interact with potential customers, partners, and experts in their industries. Companies can create a professional profile, develop relationships with influencers, and post jobs.
  • Twitter: Twitter is a platform that allows users to send out short, 140-character messages, or "tweets." It can be used to promote products and services, engage customers, and spread the word about your business. Companies can use Twitter to interact with customers, post short updates about their products and services, and even run promotional campaigns.
  • YouTube: YouTube is a video-sharing platform that allows businesses to create and post videos. It can be used to showcase products and services, provide customer education, and even host webinars. Companies can also use YouTube to create "how-to" and tutorial videos, which can be a great way to engage customers and potential customers.
  • Instagram: Instagram is a photo-sharing platform that allows businesses to create and post photos. It can be used to showcase products and services, engage customers, and promote special events or offers. Companies can also use Instagram to create and post product and lifestyle images, as well as behind-the-scenes shots.
  • Facebook: Facebook is a social network that allows businesses to create and manage company pages and groups. It can be used to engage customers, promote products and services, and even offer special deals and discounts. Companies can also use Facebook to post updates about their products and services, and even run contests and giveaways.

Advantages of B2B social media marketing

An introduction to the advantages of B2B social media marketing is that it provides businesses with an effective way to reach and engage with their target audience. The following are some of the key advantages of B2B social media marketing:

  • Increased Visibility: B2B social media marketing provides an opportunity to build brand awareness and drive more website traffic. This can be achieved through content promotion, engaging with followers, and increasing the number of social media followers.
  • Improved Lead Generation: B2B social media marketing can be used to generate qualified leads. This can be achieved through effective content marketing, social media advertising, and engaging with potential customers.
  • Strengthened Customer Relationships: B2B social media marketing provides an opportunity to build relationships with customers and potential customers. This can be achieved through active engagement with followers, providing customer support, and interacting with customers.
  • Better Insights: B2B social media marketing can be used to gain insights into the interests and preferences of customers, as well as their feedback on products and services. This can be achieved through social listening, tracking analytics, and analyzing customer sentiment.

Limitations of B2B social media marketing

  • Introduction: Social media marketing is an effective way of reaching out to potential customers and partners, however, it also has its limitations. Here are some of the major limitations of B2B social media marketing:
  • Limited Reach: Social media marketing is effective for reaching out to potential customers, however, it often has limited reach when it comes to B2B. This is because B2B companies often target a narrow audience, which makes it difficult to reach out to potential partners.
  • Time Consuming: Social media marketing can be very time consuming. It requires careful planning, strategizing, and implementation in order to be successful. This can be a challenge for B2B companies who are looking for quick results.
  • Costly: Social media marketing can be expensive, especially when it comes to B2B. This is because B2B companies have to invest in tools and resources to ensure their social media campaigns are successful.
  • Lack of Expertise: B2B companies often lack the expertise and experience needed to effectively manage their social media campaigns. This can lead to campaigns that are not as successful as they could be.
  • Competition: Social media is a competitive environment and B2B companies can easily get lost in the crowd. This means that it can be difficult for B2B companies to stand out among their competitors and get noticed.

Other approaches related to B2B social media marketing

Introduction: B2B social media marketing involves using various strategies to reach potential customers and build relationships with them. Here are a few other approaches that can be used to do so:

  • Creating content - Companies should create content that is relevant and interesting to their target audience. This content should focus on educating customers and providing them with valuable insight into the company’s products and services.
  • Influencer marketing - Companies can leverage influencers to reach a wider audience and increase brand awareness. Influencers should be chosen based on their expertise in the field and ability to reach a large audience.
  • Paid advertising - Companies can also use paid advertising to reach a larger audience. This involves using various platforms such as Google Ads, social media ads and more to target potential customers.
  • Social listening - Companies should also use social listening to identify trends in their industry and understand what their customers are saying about them. This can help companies identify areas of improvement and create more effective strategies.

In conclusion, B2B social media marketing involves the use of various strategies to reach potential customers and build relationships with them. These strategies include creating content, influencer marketing, paid advertising and social listening. All of these approaches can help companies increase brand awareness and drive conversions.

Footnotes

  1. ↑ A. M. Kaplan, M. Haenlein 2010
  2. ↑ A. Andrews 2014
  3. ↑ K. Bodnar,J. L. Cohen 2011
  4. ↑ J. Järvinen et al. 2012
  5. ↑ K. Bodnar, J. L. Cohen 2011


B2B social media marketing — recommended articles
Areas of marketing — Interactive agency — Innovative marketing — Marketing department — Promotion mix — Social media optimization — Benefits of social media marketing — Digital marketing strategy — Brand management

References

Author: Joanna Pawlik

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