Social Media Trends—Perception vs. Reality

The use of social media in B2B marketing and decision-making processes continues to trend upward, but there are stark differences in actual usage versus the desire to ramp up. It is increasingly important to remain aware of the differences between perception and reality.

• Perceptions range from the opinion that social media is important and necessary, to an extreme view that it is a paradigm shift in the way marketing and communication takes place.
• Reality lies somewhere in the middle, in which the number of B2B companies making extensive use of social media is significantly lower than what is largely perceived.

In other words, everyone agrees it is important, and a necessity, but many organizations have yet to find the most effective ways to make social media work for them.

Recent studies, one by Accenture and the other by Base One Group in the UK, reveal that the most influential and critical channels continue to be the more traditional ones. This includes email, supplier sites, physical events, webinars and online seminars. The misperceptions occur when we compare growth rates of each. Rapid growth in usage does not necessarily mean a corresponding change in influence. For example:

• 65% of B2B respondents said social media is extremely important to their brand, B2B interactions, loyalty and revenue
• Only 8% of that same group described their social media usage as extensive

From information like this, we conclude that the need for more effective use of social media is prevalent, because:

• At least 40% of B2B buyers use social media at some point in their buying process

What can B2B organizations do to more effectively leverage social media as a complement to existing, more trusted channels?

• Develop a central strategy that supports larger business objectives.
• Measure the effectiveness of social media by defining metrics for the initiatives that social media seeks to improve.
• Adopt a flexible, long range approach to social media implementation—remain open to revisiting programs and make changes that stay aligned with business priorities.
• Create 'Social CRM' by using social media applications to complement other customer strategies and objectives.
• Achieve organizational buy-in—develop a compelling business case by collaborating with those whose organizational functions will be most affected by social media programs.

These studies confirm that there is a significant appreciation for the importance of social media in business success. Now, it is up to marketing professionals to make the right moves toward overcoming the challenges and realizing the promise of social media in terms of enhancing existing channels and creating powerful new ones.