The Difference Between B2B and B2C Social Media Analytics
Most of the social media channels are Business to Consumer (B2C) or as many of us think, they are. But can they be used for Business to Business (B2B) communication as well and how effectively? We believe in people, and not companies. Individuals who create organisations and individuals who are communicating on behalf of a business, therefore we don’t think there should be a necessary distinction between the two segments in social media. But there are some general rules. This post is all about these rules and trends.
Conversions and audience growth
For a consumer brand, it is evident that the most important metric is their brand awareness which is translatable to social media as the size of their audience. The number of followers and fans is the single most important metric that you need to use to measure your success. However, for a B2B brand, the size of the audience is not descriptive as not everyone can be a customer, only the right people at the right companies. Therefore, any conversion that is measurable in social media has more significance than pure audience metrics. How many users clicked out to your website? How many subscribers did you gain from LinkedIn? How many users retweeted your new product announcement?
Analytics and niche targeting instead of customer service focus and brand loyalty
You know your favourite milkshake brand but can’t have the same feelings toward your broadband provider.
B2B companies shouldn’t focus on measuring brand loyalty on social by the number of engagements, shares, and comments. Also, as the audience is much smaller than traditional large B2C brands have on social; investing in a cutting-edge social media customer service process might not be a priority. However, a profound understanding of how your smaller audience acts on social with analytics is more important for you. Also spending a bigger ad budget to tailor your ads to a small niche audience is also a must. Proper growth hacking and PPC management are highly valuable for B2B companies in social.
Monitoring and listening are highly relevant
We have talked about how you can use monitoring and listening tools online to know more about what your customers are talking about. Investing in these tools will also gain the option to discover their needs. There’s nothing better than assistance for lead generation when you know exactly whom and where you need to sell your product. With social media listening, you can get an in-depth understanding of your would-be leads’ needs and demands.