{"id":33347,"date":"2010-06-03T02:30:11","date_gmt":"2010-06-03T01:30:11","guid":{"rendered":"http:\/\/www.corporate-eye.com\/blog\/?p=33347"},"modified":"2010-06-03T02:30:11","modified_gmt":"2010-06-03T01:30:11","slug":"huge-growth-coming-for-b2b-social-media-marketing-spending","status":"publish","type":"post","link":"https:\/\/www.corporate-eye.com\/main\/huge-growth-coming-for-b2b-social-media-marketing-spending\/","title":{"rendered":"Huge Growth Coming for B2B Social Media Marketing Spending"},"content":{"rendered":"<p><img decoding=\"async\" class=\"alignleft size-full wp-image-33349 lazyload\" title=\"keyboard_computer_internet\" alt=\"keyboard_computer_internet\" data-src=\"https:\/\/www.corporate-eye.com\/main\/wp-content\/uploads\/2010\/06\/keyboard_computer_internet.jpg\" width=\"199\" height=\"129\" data-srcset=\"https:\/\/www.corporate-eye.com\/main\/wp-content\/uploads\/2010\/06\/keyboard_computer_internet.jpg 300w, https:\/\/www.corporate-eye.com\/main\/wp-content\/uploads\/2010\/06\/keyboard_computer_internet-150x97.jpg 150w\" data-sizes=\"(max-width: 199px) 100vw, 199px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 199px; --smush-placeholder-aspect-ratio: 199\/129;\" \/>According to reports by <a href=\"http:\/\/www.outsellinc.com\/\">Outsell<\/a> and <a href=\"http:\/\/www.forrester.com\/\">Forrester Research<\/a>, social media marketing spending by business-to-business companies is expected to grow by 43.3% in 2010 and will hit $54 million in 2014 (up from $11 million in 2009).<\/p>\n<p>Is your company ready for what&#8217;s being called the business-to-business social media marketing explosion?<\/p>\n<p>Business-to-business companies are shifting marketing budget dollars to social media and online marketing quickly in order to leverage the opportunities the social Web presents, even though according to a November 2009 survey by <a href=\"http:\/\/www.business.com\/\">Business.com<\/a> (reported by <a href=\"http:\/\/www.emarketer.com\/Article.aspx?R=1007725\">eMarketer<\/a>), 73% of business-to-business marketers who were using social media had less than two years of social media marketing experience.\u00a0 That&#8217;s nearly 3 out of 4 people who really don&#8217;t know what they&#8217;re doing, but they&#8217;ll be getting more money to keep doing it.<\/p>\n<p>Following is the breakdown of the change in social media marketing spending for several popular initiatives among business-to-business marketers in 2010:<\/p>\n<ul>\n<li>Spending on social networking sites: up 43.3%<\/li>\n<li>Spending on webinars: up 26.0%<\/li>\n<li>Spending on search engines: up 17.1%<\/li>\n<li>Spending on company Web sites: up 7.5%<\/li>\n<\/ul>\n<p>I should point out that I&#8217;d argue that spending on search engines and company Web sites doesn&#8217;t necessarily equate to social media marketing spending in my book, so take that into consideration when you look at the results above.<\/p>\n<p>Business-to-business social media marketing might happen on different branded destinations than business-to-consumer marketing and the type of shareworthy content a company publishes is certainly different, but the underlying principles and strategies of social media marketing still apply regardless of what you&#8217;re selling and to whom.\u00a0 Just as with traditional marketing, you have to modify your placement and messages to match your audience.\u00a0 In other words, you need to find your target audience online, and start and join the conversations that matter to them.\u00a0 Until you take that step, your social media marketing investments can only take you so far.<\/p>\n<p>Should business-to-business companies increase their social media marketing spending sooner rather than later?\u00a0 Absolutely.\u00a0 Why?\u00a0 Because their clients and customers are spending time on the social Web.\u00a0 Would you ignore those people if they were standing in front of you ready to engage in conversations that interest them?\u00a0 No.\u00a0 Then why would you ignore them on the social Web? Get out there, find your audience, and start interacting with them!<\/p>\n<p><em>Image: <a href=\"http:\/\/www.sxc.hu\/photo\/865021\">stock.xchng<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to reports by Outsell and Forrester Research, social media marketing spending by business-to-business companies is expected to grow by 43.3% in 2010 and will hit $54 million in 2014 (up from $11 million in 2009). Is your company ready for what&#8217;s being called the business-to-business social media marketing explosion? Business-to-business companies are shifting marketing [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":33349,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[95],"tags":[6388,100,6390,6389,110,520,1011,135,6387],"class_list":{"0":"post-33347","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-brand","8":"tag-b2b-social-media","9":"tag-brand-strategy","10":"tag-btob-social-media","11":"tag-business-to-business-social-media","12":"tag-corporate-branding","13":"tag-online-branding","14":"tag-social-media-branding","15":"tag-social-media-marketing","16":"tag-social-media-spending","17":"entry"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Huge Growth Coming for B2B Social Media Marketing Spending<\/title>\n<meta name=\"description\" content=\"Business-to-business social media marketing spending expected to grow by nearly 50% in 2010. Is your company ready?\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.corporate-eye.com\/main\/huge-growth-coming-for-b2b-social-media-marketing-spending\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Huge Growth Coming for B2B Social Media Marketing Spending\" \/>\n<meta property=\"og:description\" content=\"Business-to-business social media marketing spending expected to grow by nearly 50% in 2010. 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