B2B Marketing and Social Media Statistics: A Dozen Insights for 2023
In the fast-paced world of B2B digital marketing, staying updated with the latest statistics is crucial for developing effective strategies. This article dives into the realm of B2B marketing and social media, highlighting key statistics that can inform your decision-making and drive success in 2023. From marketing team dynamics to budget allocation and the power of social media platforms, we will explore valuable insights to guide your B2B marketing efforts.
When it comes to B2B marketing, organizations often seek external support to handle various activities. Approximately 60% of B2B brands outsource tasks like keyword research, content writing, and ad management, while only 41% handle their marketing activities entirely in-house. Furthermore, the Content Marketing Institute reports that half of B2B marketing teams outsource at least one content marketing activity, with content creation being the most commonly outsourced task.
Allocating an adequate budget is essential for B2B marketing success. Surprisingly, a quarter of B2B organizations allocate only 5% of their total budget to marketing. However, with the shifting landscape of marketing channels and the rise of digital platforms, organizations should consider increasing their marketing budget to capitalize on new opportunities.
Social media has emerged as a powerful tool for B2B digital marketing. Let’s explore some eye-opening statistics regarding the impact of social media on B2B decision-makers and marketers:
1. The number of social media users worldwide has reached a record 4.9 billion and is expected to grow to approximately 5.85 billion users by 2027.
This statistic is crucial for B2B marketers to understand because it signifies the massive reach and potential audience on social media platforms. With such a vast user base, B2B marketers can leverage social media to connect with a significant portion of their target market and expand their brand’s visibility globally.
2. The average user now spreads their digital footprint across six to seven social media platforms every month, highlighting the need for a multi-platform approach to social media marketing.
By being active on multiple platforms, marketers can increase their chances of engaging with their target audience in various contexts. Each platform offers unique features and caters to different demographics and user behaviors. Applying your SEO knowledge to TikTok and Instagram can help you gain traction on these platforms when they are not as popular as Facebook and Twitter.
3. 84% of C-level and VP-level B2B buyers are influenced by social media when making purchasing decisions.
By strategically leveraging social media platforms to showcase their products, share industry insights, and build thought leadership, marketers can establish trust and credibility with C-level and VP-level buyers, ultimately increasing their chances of closing deals.
4. 55% of B2B buyers use social media as a resource for researching B2B opportunities.
To grow sales in 2023, B2B marketers must recognize the importance of having a strong presence on social media platforms, providing relevant and informative content that addresses the needs and pain points of their target audience. By positioning themselves as a trusted resource and sharing valuable industry insights, B2B marketers can attract and engage potential buyers during their research phase, increasing the likelihood of conversion.
5. 83% of marketers use social media as the most popular B2B marketing tactic.
By leveraging the power of social media platforms to build brand awareness, engage with the target audience, and drive lead generation, marketers can position themselves ahead of the competition and drive business growth.
6. 66% of marketers found that social media brought new leads, with only six hours spent on social media per week.
This statistic emphasizes the potential of social media to generate new leads for B2B marketers, even with relatively small time investment. Imagine how you could transform your business in only a few hours per week.
7. As of January 2023, there were 5.16 billion internet users worldwide.
Of these, 4.76 billion were social media users. While creating high-quality content remains important, understanding how to effectively distribute that content is equally vital. B2B marketers can explore various social media platforms and formats to distribute their content and increase its visibility, such as LinkedIn, Facebook, Twitter, and YouTube.
8. Facebook’s monthly active users (MAU) in January 2023 totaled 2.96 billion, making it the most-used social media platform in the world.
Facebook provides advanced targeting options for B2B marketers to narrow their audience based on various demographics, interests, behaviors, and job titles. This level of granularity in targeting enables marketers to focus their efforts on specific segments of professionals who are relevant to their B2B products or services.
9. The average social media user spends approximately 2.5 hours daily on social media, visiting more than seven social platforms monthly.
Knowing that users visit more than seven social platforms monthly emphasizes the importance of diversifying content across various platforms. By strategically positioning their content on these platforms, marketers can increase the visibility of their brand, products, and services to a wide range of potential B2B customers.
10. According to a HubSpot survey, short-form video has the highest ROI of any marketing trend and will remain popular in 2023.
21% of marketers will leverage it for the first time in 2023, while 90% of marketers who already use it will either maintain or increase their investment. Short-form video can be a game-changer, as most B2B buyers are watching this same kind of content on their mobile devices. By creating videos optimized for mobile viewing, B2B marketers can reach their target audience effectively and ensure their content is accessible anytime, anywhere.
11. In the US, Insider Intelligence predicts TikTok will see the most significant ad revenue growth in 2023 (36%), followed by LinkedIn (16.3%), Reddit (14.2%), and Snapchat (14.8%).
B2B marketers should review their advertising budget allocation and consider adjusting it based on the predicted ad revenue growth for different platforms. As ad revenue and user behaviors on these platforms evolve, B2B marketers must monitor their campaign performance, track key metrics, and optimize their strategies accordingly. Regularly evaluating the effectiveness of ad campaigns on each platform and making data-driven adjustments will help maximize ROI and ensure marketing efforts align with the evolving landscape.
12. Social media advertising is the second biggest digital advertising market, next to search advertising. In 2027, researchers see social media advertising revenue growing to $385 billion worldwide.
Social media platforms offer robust targeting capabilities that allow B2B marketers to reach their ideal customers with precision. Marketers should prioritize understanding and utilizing these targeting options to ensure their ads are shown to the most relevant audience. By closely monitoring key metrics, such as click-through rates, conversions, engagement, and cost per acquisition, B2B marketers can identify areas of improvement and optimize their strategies accordingly.
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