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BizReport : Social Marketing : August 18, 2008


B2B marketing increases on social nets

As a business marketing to a business, is there a better place to be than a social network, even if that social network is a niche area? According to a recent eMarketer report, social networks are increasing their profile among B2B marketers. The report finds that in 2008 nearly $40 million will be spent on social network advertising by B2B marketers.

by Kristina Knight

Why are social networks becoming such a hot property?

Social networks like LinkedIn and Facebook, for example, allow businesses to make connections with like-minded people. Because so many business men and women are joining these networks to make professional connections, it makes sense that B2B marketers would also join, so that they could also make these connections.

According to the report, even more B2B connections will be made online. Researchers expect the B2B social marketing trend to growth to $210 million by 2012; in addition to advertising, marketers are also beginning to create their own social spaces to connect with customers. As B2B marketers become involved with existing social spaces, they are expected to create their own social networks to tout their products and services, allow consumers to connect with one another and manage their supplier/vendor relationships.

Is social marketing a good place for B2B marketers to be?

Only time will tell, but social networking isn't going away. Recent reports indicate that even though fewer consumers are signing up in the US, globally social networks are still exploding in growth. This gives marketers an near-unlimited user base with which to advertise. Marketers are also finding that social network users are increasingly older, especially on niche networks.

Adults signing on to social networks is a huge opportunity for marketers, especially business marketers. These business people have money to spend and are looking for companies they can connect with - and spend money with.






Tags: b2b marketing, facebook, linkedin, social marketing, social networks








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  • B2B marketing on social networks is a great idea. I don't even think that it will be something in the next few years that will be considered a possibility... it will be a requirement. You are correct when you say that more adults are joining social and business networks everyday.

    Business networks are growing quickly and the age group is mostly 30+ with money to spend. Business networks are already a great place to market.

    Brian

    http://www.konnects.com

  • We have a B2B social network at http://www.wecando.biz and in the ten weeks since launch have added nearly 1,500 companies to our membership, many of whom are doing business much more easily than they expected. The thing was B2B networking is that everyone is there to do business in the first place, where as consumers gather on social networking sites for many other reasons than buying. Our site is very more business focused in every sense.

    Ian Hendry

    CEO, WeCanDo.BIZ

    http://www.wecando.biz





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