Social Media Generates 230% more affordable leads for Top B2B Users

B2B companies that use best-in-class B2B practices are generating, on average, 17% of all leads via their social media channels according to a new Aberdeen Group study. When you compare this to the general population of B2B companies that generate roughly 5% of leads from social media, you can see how this affordable marketing strategy can significantly out-perform your competitors.

In the Aberdeen Group Report, “b2B Social Meeting Marketing: Are We There Yet?”, the study identifies four performance criteria to distinguish Best-in-Class (the top 20% of aggregate performers) from the average industry and poorest performing Laggard organizations (middle 50% and bottom 30% respectively).

The Best-in-Class companies achieved the following performance metrics:

1. Average annual revenue growth of 20%, compared to 8% for average and –3% for Laggard firms.

2. Average 10% year over year improvement of marketing leads that resulted in closed sales, compared with 3% for the industry average and –1 for the Laggard firms.

3. A 44% of forecasted sales generated by marketing, compared with 27% for average and 7% for Laggards.

4. The Customer retention rate increased to an annual 73%, as compared to 27% for average and 7% for Laggard firms.

Of significance is the determination that overall, 84% of all surveyed B2B companies are using social marketing in some form. However, the Best-in-Class companies are generally more focused on using social media for lead-generation purposes and are more likely to integrate social marketing with their other core marketing channels and processes.

 

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For more details on the study, read this excellent article by Marketing Profs.

Social Media – Top B2B Firms Gaining 230% More Leads via Social Media Than Peers : MarketingProfs Article

Ron Packer (158 Posts)

A dynamic and avid participant of the Internet, Ron enjoys helping businesses grow through the power of the Internet. He has been a successful Internet Business and Marketing Consultant since 2002 and has received numerous awards and professional recognition.