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14 Must-Know Social Media Statistics for B2B Tech Companies in 2023 

In the dynamic B2B realm, staying informed about social media trends is paramount. By keeping a finger on the pulse of social media, B2B tech companies can make informed decisions, develop effective strategies, and harness the power of these platforms to connect with their target audience. 

What really serves well for laying the foundation for social media strategies is the quantification of benefits that social media can accrue. These insightful figures serve as guideposts, illuminating the path towards success in a competitive digital landscape.

Let’s look through some of the most pertinent social media statistics that B2B companies must know as they embark on the journey of capitalizing on market opportunities, enhancing brand visibility, and fostering meaningful engagements.

General B2B Social Media Statistics

  • In the realm of B2B marketing, leaders have redirected their attention toward social media, mobile platforms, and search engine optimization (SEO). Notably, 53% of these leaders have ramped up their investments in social marketing, recognizing its significance. Conversely, 40% have scaled back their investments in event marketing, while 36% have reduced their expenditure on digital advertising.
  • In the case of B2B/B2C hybrid companies, which engage in both business and consumer sales, there was a decrease of 4.3 percentage points in the allocation of the marketing budget towards digital advertising in 2020. In contrast, there was an increase of 2.2 percentage points in the expenditure on social media marketing.
  • Around 40% of participants in a survey affirmed that a B2B buying cycle usually takes approximately two to three weeks.
  • In 2021, millennials accounted for 60% of B2B tech buyers. 
  • A year later, research confirmed that 73% of the B2B buying decisions are being made by millennials.
  • 84% of VP-level customers consider the quality of their social media interactions as the foundation for their purchasing decisions.
  • Typically, a B2B buying cycle involves the participation of around six to ten individuals.

LinkedIn

LinkedIn stands out as the most effective social media platform for B2B tech companies, providing a multitude of benefits for lead generation. The platform’s unique focus on professional networking and business-related content creates an environment that caters specifically to B2B interactions. Its robust features, such as company pages, targeted advertising, and industry-specific groups, offer ample opportunities for B2B tech companies to connect with their target audience and nurture meaningful business relationships. 

LinkedIn’s extensive user base comprises professionals, decision-makers, and industry experts, making it an ideal platform for reaching key stakeholders in the B2B sector. By leveraging the power of LinkedIn, B2B tech companies can effectively showcase their expertise, build credibility, and generate valuable leads that contribute to business growth and success.

Here are some LinkedIn-specific statistics that B2B tech companies must know:

  • LinkedIn is the most effective platform for B2B tech companies, with 89% of B2B marketers using it for lead generation. 
  • 94% of B2B marketers use LinkedIn for content marketing.
  • Also, 66% of B2B marketers claim LinkedIn is the most valuable social media platform for their efforts.

Other Platforms (Twitter, Facebook, Instagram)

Twitter has long been a popular resource for B2B tech companies, providing them with the ability to reach, engage, and educate their audience with exceptional ease. Its easy accessibility, with its short character count and predictable format, makes it a prime candidate for effective B2B marketing on the part of tech companies.

Facebook has established itself as a widely adopted and highly influential platform among B2B marketers. This belief is supported by Facebook’s advanced targeting options, which enable businesses to pinpoint their desired audience based on various criteria such as demographics, interests, and behaviors. Additionally, the platform’s diverse ad formats, including video ads and lead generation forms, offer compelling opportunities to capture and nurture leads.

Instagram is also becoming increasingly popular among B2B tech companies. Given the profoundness of visual content that the platform facilitates, marketers can effectively capture, repurpose, and manage their brand’s image. 

  • 89% of marketers still use Facebook. In fact, 45% find it most suitable for running ads.
  • Twitter is used by 82% of B2B tech companies for content distribution and engagement. 
  • Instagram has over 2.35 billion active monthly users, making it a valuable platform for brand awareness and visual storytelling.
  • YouTube is the second-largest search engine and a valuable platform for B2B tech companies to share informative video content.

So, there you have it! These statistics provide invaluable insights into the evolving landscape of social media platforms and user behavior, enabling businesses to make informed decisions and formulate effective strategies. By keeping a pulse on the latest trends, B2B tech companies can align their marketing efforts with the preferences and habits of their target audience. 

At Midas Touch, we help B2B tech companies leverage the potential of social media platforms, thrive in the competitive digital landscape, and achieve long-term success. Explore our content marketing services here.

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