Social media has emerged as one of the most important branding tools, whether it’s B2C or B2B organisations. Morrison Forester has a wealth of information for all social media enthusiasts and professionals.
As per the infographic below, we learn some interesting facts about which brands are spending how much on what platform. Social media has become much more than likes and sharing; brands have started engaging people on multiple channels. And the reason is simple; for each platform, different brands have different approaches. The one size fits all marketing approach is not as applicable as it once was.
Brands have begun to target their respective audiences on social media platforms like Facebook, Twitter, LinkedIn, Pinterest, Google+ and more. Key points worth mentioning: B2C companies have been successful in engaging consumers on Facebook while B2B brands have seen success on LinkedIn. This clearly indicates that brands know where to go to capture their target customers. For luxury brands and specialty retailers for example, Pinterest offers a great opportunity to interact with consumers. As per the infographic, 90% of online specialty retailers in the US use Pinterest and 84% of luxury brands use Pinterest for marketing purpose.
Another key observation is ad spends on social media. In 2014, total ad spends on social network advertising were $16.10 billion (over 45% increase from 2013). US B2B marketers alone are projected to spend more than $100 billion on social media advertising by 2017.
However, there are two major challenges for marketers in the coming years. Linking social media campaigns to sales/clients/revenue and acting on the data generated takes a tremendous amount of analysis and work.
85% of B2B buyers believe companies should present information via social networks.
63% of businesses are still looking Social Media Strategy.
89% of Journalists reference blogs when conducting online research.
54% of B2B marketers said they have generated leads from social media.
78% of marketers said they saw increased traffic with as little as 6 hours a week invested in SMM.