For B2B companies, social media has become a way to not only market a brand but to ensure that the customers they have acquired have a far better likelihood of remaining loyal and forming the bulk of their sales.
But how do they do that? Here are five ways in which B2B companies can – and are – making the most out of social media:
Before the age of social media, online content for businesses would only appear in the form of a web page that would have to be actively sought out. Not to mention, the web page itself would be a static entity, with little to no updated content to engage those who visited. With social media, however, this has all changed. Now, whether it’s on Facebook, Twitter, Instagram or Tik Tok, businesses can provide constant content that directs the consumer to their web page and gives them more incentive to interact with it. Consumers who have bought once – and are happy with the service – are also more likely to type the name of the company into social media and follow the page, which means the content is delivered to their door after just one single click.
Social media is a very important marketing strategy when it comes to retaining customers, too. In order for a B2B company to survive, it is important that retaining customers is prioritised and a strong b2b loyalty program is put in place to maximise the chances of retention. With social media, companies are actively marketing this loyalty program and incentivising clients to return to their company in order to take advantage of it. Once again, this is done through regular engaging content, something for the client to interact with and become invigorated by. This can also help spread the word and get new customers on board in the process – the more engagement a post has, the farther its reach is. Social media, in this way, has become the new “word of mouth”.
But loyalty is also achieved through good products and good communication. In the B2B landscape, for instance, there is often talk about building a relationship with clients. But what does building a relationship really mean? For one thing, it means communication. Clients want to know that their needs are catered for, and that they are not just another statistic on a spreadsheet. With social media, the best B2B companies are achieving this relationship by giving their clients a channel to reach them quickly and efficiently. In this way, the platform is not simply a blank wall to advertise on but a bridge to allow consumers access to the company and a way to communicate with it.
Reputation is important in business, and many times it is easy to assess a company’s reputation through their social media platforms. If potential clients seek out a business’s social media page and not only see engaging content, but an engaging platform that portrays positivity with already existing customers, then they are more likely to investigate further. In B2B, especially, the cost of acquiring new customers is five times higher than retaining customers, but social media can nullify that statistic. Of course, retaining customers is essential, but social media also gives a way for companies to control their reputation and utilise it to market themselves to new clients.
Social media is also a good tool when it comes to building and maintaining partnerships with other B2B companies. There are many advantages to business networking, and every good business will attend events to network with other companies. Social media, however, offers an alternative way to forge those relationships more efficiently and directly. These relationships can then be valuable down the line if the business needs advice or feedback on targets and an accurate representation – through the companies it has connected with – of the market as a whole.