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Is Social Media Right for My Business?

For many SMBs, social media is a daunting task. It is still relatively unused and misunderstood. However, its use is on the rise – and accelerating. A recent Marketing Profs report found that 68% of B2B firms are increasing their Social Media spend.

Evaluating Social Media for B2B Companies

A number of factors come into play when a firm is considering social media: type of industry, extent to which social media is used by target customers, sales process and the experience of the organization with respect to online marketing.

For a software company, for example, social media may be a more effective marketing tactic given the nature of the product, the industry and the clientele who are presumably high-users of the internet and social media tools. Whereas a manufacturing company whose sales cycle relies on personal one-on-one relationships and whose clientele is less internet savvy, it may not be useful.

Many companies wonder if Social Media will work for them. Clearly in the B2C world there is a stronger argument for Social Media, but even in B2B it is starting to demonstrate results. Below is data from Marketing Profs on the percentage of companies who use Social Media that acquired new customers from it.

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