The latest BuyerSphere research report on business to business (B2B) buying decisions reveals key insights into the role of social media in the B2B buying process. These include the most influential social media channels and the best content formats.
The research covered over 500 B2B Buyers in Europe and asked them how they researched information in the buying process and which information sources were the most influential in their buying decisions. Social media was only used by 20% of buyers, however, there are some interesting lessons and insights from the research.
1. Industry Forums Are The Most Used Social Channels
Where social media was used by B2B buyers, the social channel they used most frequently was industry forums as shown below. They also ranked industry forums as the most influential source of information in the buying process.
Social Media Channels - Usage V Influence
2. Google Plus Is The Most Influential Social Media Channel
Interestingly whilst Google Plus and LinkedIn were used equally, Google Plus was rated as much more influential in buying decisions. Channels such as Pinterest were used very little and had very little influence.
3. Websites Are The Most Used Source Of Information
When researching companies most B2B buyers start with the company website and use this more than any other source of information as seen below. In the sample few people used social media as a source of information although they did seek and receive advice from friends.
Information Sources - Usage v Influence
4. Advice from friends is the most influential information source
Whilst company websites were the most used source of information, it can be seen from the above chart that advice from friends was the most influential. This advice appears to have been sought and received outside of social media channels but this is likely to change as the nature of work networks change and social media networks grow. The importance of advice from people you know is reinforced further when the researchers looked at the influence of information formats below.
Information Formats - Usage v Influence
Interestingly the most used information source was a PDF document downloaded from a website. Formats such as mobile apps and infographics being used little and having little influence. Video was used much less than the popular PDF documents but video was ranked as more influential in buying decisions.
Still Early Days
It is still early days for social media in the B2B buying process with only 20% of buyers using social media of any form in the buying process. Over 50% of those surveyed had not used any social media channel and usage declined with age. The B2B buyers surveyed had an older age profile as follows:
This emphasises the importance of buyer personas and knowing your buyer audience.
On the positive side social media usage is growing and its influence is likely to grow further, not least as the younger generation moves through. It may also grow as it potentially has an important role to play in recommendations from peers and friends which are clearly an important part of the buying process. This could be a key role for social media in the B2B buying process in the future.
5 Key Lessons
The research was commissioned by Base One and B2B Marketing to explore the behaviours and attitudes of B2B buyers during the buying process. The research covered 516 people across UK, France & Germany. Download the full report.