The marketing chatter on the Internet is dominated by the growing importance of social media as a marketing tool. The suspicion, based on knowledge of client experience, is that for most b-2-b companies it isn't yet dominating the marketing budget. Traditional marcoms such as display advertising, exhibitions and print continue to take the lion's share of the marketing budget. Despite the considerable importance, almost dominance of the Internet, clients continue to spend a significant portion of their budget on display advertising.
The 'Social Media B2B' web site has researched what it bills as 28 Awesome B2B social media statistics, the first of the 28 claims 86% of B2B companies are using social media. On the other hand 46% of another survey considered social media irrelevant to their business.
Not surprisingly the B2B companies ranked most successful on Twitter are large global enterprises with Cisco ranked at No.6 with 48,000 followers and Intel at No. 10 with 35,000. To put this in context, Barack Obama has 6,588,000, Stephen Fry 2,205,00 and Cheryl Cole 157,000! Philips Lighting has 2,200 and step down the scale to SMEs and a couple of hundred followers seems to be quite a respectable number.
Perhaps for now companies will need to recognise that the growth of social media has opened up new and diverse communications channels of which Twitter and Facebook are just 2 of dozens of others and add these to give customers and prospects a choice. Let them decide how they want to receive information from you and how to interact if they want to do so at all. Oh and you can follow Technical Marketing on Twittter @technicalmarket
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