The Benefits of Facebook Marketing for Business-to-Business Companies
Facebook marketing works well for business-to-consumer (B2C) businesses, but if you’re a business-to-business (B2B) company, you may be wondering whether Facebook makes sense. In short, the answer is yes! In fact, according to the 2013 State of Inbound Marketing Research Report from HubSpot, 41 percent of B2B companies have reported acquiring a customer through Facebook.
B2B companies incorporate the following four key marketing strategies:
Acknowledge your fans.
Know your audience.
Mix up your media.
B2B companies also have a unique advantage over B2C when it comes to Facebook marketing: Facebook’s platform is designed to support exactly what B2B companies need to be successful in attracting clients and securing sales.
To better explain this idea, here are three factors that make B2B a perfect fit for Facebook marketing:
B2B has a smaller potential customer base. B2B companies don’t have to constantly focus on growing their numbers of followers to hundreds of thousands; instead, they can put the majority of their focus on nurturing the relationships they already have. Facebook is a platform that thrives on one-to-one relationships.
Buying decisions in B2B rely heavily on word of mouth and reputation. Businesses that are looking to make a huge buying decision often want to know what their peers are doing and how they feel about a product or service.
Facebook’s open network allows people to see who their peers are interacting with and what they’re talking about at any given time, therefore making it easy to find out what others think about a product or service.
B2B generally has a higher average price point than B2C. When the price of the product or service is considered to be high, the client is likely to seek out information and content to support buying decisions. On Facebook, content is king. The more high-value content a company can generate, the more likely it will be to attract the ideal client base and become a Facebook success story.
For B2B companies, connection, knowledge sharing, and reputation management are key ingredients of success. Facebook’s unique platform can help optimize these key strategies.