So is social media conducive for business-to-business marketing? Yes. However, the effectiveness and ROI will vary depending on:
- The industry- Each industry is like a different culture. There are different terminologies, expectations, interests, communication methods, standards, legal guidelines, etc. These variances impact the utilization of social media as a marketing tool.
- The platform- There is Facebook, LinkedIn, Twitter, and YouTube… The list goes on and on. Each platform also has its own culture. Ideally, you want your business to be active on platforms that relate well with your industry, objectives, and market demographics. This brings me to the last two points.
- The objectives- What is your objective? It’s hard to get where you want to go if you don’t know where to go. Businesses often realize the importance of social media and the marketing possibilities yet fail to adequately train and equip themselves. This lack of direction and knowledge leads to nowhere. If you plan on committing to this tactic, then you must go all the way.
It’s hard to get where you want to go if you don’t know where to go.
- The market- Who are you targeting and where are they at? What social media platform are they most likely to use? Answering this question will determine where you spend most of your time. This may mean for most B2B companies, that LinkedIn would be more effective than Facebook. However, I wouldn’t completely disregard a platform like Facebook (which is typically more effective for Business-to-consumer companies). You just have to be very clear on your objectives.