Which Social Media Platform Informs Most B2B Purchase Decisions?
Our customers and the buying process are constantly changing, becoming more and more complicated. Considering this evolving buying atmosphere, sellers and marketers alike are faced with the challenge of figuring out how to attract buyers.
Earlier this month, the leading research and advisory company Gartner revealed that B2B buyers value third-party interactions 1.4 times more than digital supplier interactions. Gartner discovered this finding after conducting a survey at the end of 2022. As part of this study, 771 B2B buyers reported that they read customer reviews and consult third-party experts when making purchase decisions.
Rick LaFond, Director Analyst in the Gartner Marketing practice commented on this in a press release, noting: “Buyers want to feel confident throughout their purchase journey, and third-party sources can help get them there.”
YOUTUBE IMPACTS PURCHASE DECISIONS THE MOST
While many may believe that LinkedIn is the most likely to influence B2B purchase decisions, the platform that has the biggest impact on B2B buyers is actually YouTube (65%). This platform is then followed by Facebook (60%), Instagram (55%), Twitter (48%), LinkedIn (43%), TikTok (22%), Quora (18%), and Reddit (16%).
So, what does this mean?
According to LaFond, B2B brands are not using social media platforms to their full potential. Advising marketers on how they can leverage social channels, LaFond shared:
“Marketers can go beyond using social channels for flashy short-form videos promoting brand values to truly demonstrate how the brand supports different customer needs and pain points across various stages of the buying process.”
Moreover, LaFond shared that brands have to focus on improving their digital experiences as “most B2B CMOs are probably not tapping into the return of third-party interactions despite the weight they carry in serving as information sources for their buyers”.
LEARN MORE ABOUT YOUR CUSTOMERS AT OUR NEXT EVENT
If you are interested in gaining a more advanced understanding of your customers and insights for a more personalised offering that attracts and retains them, make sure you register for our free-to-attend Marketing Engagement Summit. Taking place on December 6th at The Brewery in London, this event will discuss the future of marketing and present best practice case studies from leading organisations.