B2B marketing organizations know that social media is an integral component of any modern marketing strategy, and leveraging social platforms to increase brand awareness and drive new leads are the top two goals for marketers on social, according to new data.
The “B2B Social Media Investment & Returns” report from Demand Metric and Socedo polled 475 B2B marketing pros about how they are leveraging social media, the budget they are dedicating to it and what they are seeing in return. The survey found that brand awareness, lead generation and thought leadership account for 75 percent of primary usage for social by B2B brands.
Return on investment for B2B social spending, however, is not so hot. The survey found that 40 percent of respondents don’t know their social ROI, 13 percent deemed it “far below expectation” and 18 percent said it is slightly below expectations.
“This ROI data offers little encouragement to B2B marketers,” according to the report. “Almost everyone is marketing with social media, and many are experiencing disappointing ROI from doing so, but not all.”
The first step toward improved social media performance is to set specific goals for campaigns and social strategies, which will give organizations a clearer picture of how their efforts are measuring up.
“Those without specific goals have no idea what social media is doing for them, because it’s impossible to know what metrics have meaning in the absence of goals,” according to the report. “Goals are important because they provide direction and serve as the basis for measuring success.”
More than half of respondents are leveraging social media analytics and content marketing tools, while almost 20 percent indicate no tool usage at all. Finding the right tools to help boost social engagement and reach can make a big difference in social campaign performance.
“Where effectiveness is concerned, the contrast between those who use tools and those who don’t is dramatic,” according to the report. “In general, tool usage is a catalyst for more effective social media marketing.”