If you think that social media is only effective for companies promoting products and services to consumers, think again. When used effectively, it can prove a gold mine for business-to-business marketers, including payroll software and service bureaus. In fact, research shows that a full 83 percent of B2B marketers use social media, making it the most common B2B marketing tactic. Further, 80 percent say they have a specific social media strategy and more than half – 54 percent – say they social media does regularly generate leads. Those figures are backed by polls revealing that 55 percent of B2B buyers say they often search social media for information about products and services that will benefit their businesses.
B2B spending on social media is another convincing factor. Industry analysts expect social media spending to hit $15.36 million/billion? this year and will grow to nearly a quarter – 24 percent – of marketing budgets within five years. 32 percent of B2B marketers use paid ads on various social media platforms as a significant part of their marketing strategy in 2017. Apex HCM for example, runs ads on Facebook as well as Linkedin.
So which of the major social media platforms are best for B2B marketing and sales? Take a look…
Topping the list of the most beneficial social media is LinkedIn, launched in 2003 as a business and employment-oriented service. Surveys show that 89 percent of B2B marketers use LinkedIn to distribute content, making it the second most used social selling tactic behind only email – and with good reason. Forty-four percent of all B2B relevant leads come from this particular platform. Roughly half of B2B buyers research vendors by looking at their LinkedIn profiles..
Famously branded with the little blue bird, Twitter takes second place with some 77 percent of B2B marketers using it to distribute content. It’s particularly effective for new technology product launches, according to 71 percent of B2B tech marketers.
If you’re not yet using video to promote your payroll or HR software products and services, it’s time to reconsider. Some 73 percent B2B marketers say video positively impacts their ROI and 59 percent distribute such content on YouTube. That figure likely will increase significantly, as 70 percent of B2B sellers polled in late 2017 said they planned to spend more time on YouTube this year.
Though it’s less well known, SlideShare has steadily gaineding ground on the B2B social marketing scene over the past decade. Launched in 2006 and purchased by LinkedIn in a reported $118million deal in 2012, it’s used regularly by more than a quarter – 26 percent – of B2B marketers to distribute content today. Upward of 40 percent of B2B marketers consider SlideShare, which boasts 70 million viewers a month, highly effective.
Facebook has come a long way from its 2004 origins as an online membership site for Harvard students, holding its IPO in February 2012, valuing the company at $104 billion – the largest valuation to date for a newly listed public company. More than three quarters – 76 percent – of B2B marketers distribute their content on Facebook and 38 percent consider Facebook a highly effective marketing tool.
For all the new age glitz and glamour, remember that social media is only a distribution channel. Like any other marketing channel your success will depend on the content you promote. Offering a customized suite of HR and payroll software solutions, Apex HCM can help convert your social media visitors into new paying clients. Call 877-750-2739 or visit us online to request a demo today.