Enhance your growth potential in 2024 by crafting an efficient B2B social media strategy. Dive into our comprehensive guide for both paid and organic social media strategies (but grab a cup of coffee first—it’s a detailed read!).

The landscape of B2B social media marketing in 2024 is brimming with opportunities like never before. 

However, therein lies a challenge.

Let me break it down for you.

If you’re reading this, chances are you’re tasked with overseeing your company’s social media strategy. Whether you’re the mastermind or part of a team driving the operation, the year 2024 presents abundant opportunities.

At Sculpt, we specialize in designing B2B social media strategies tailored for growth-stage startups, established small businesses, and intricate enterprise teams.

And what we’ve observed is this:

Numerous challenges confront all brands.

More experts.

More attention.

More feature releases.

More emerging platforms.

More measurement tools.

More privacy concerns.

More content formats.

More investment.

For those leading marketing efforts in B2B, the demand to elevate social media presence has never been higher.

In 2022, social media expenditure surged to 14.5% of B2B marketing budgets. 

This figure is expected to climb by 7% over the next 5 years. Why? Because 58% of mature organizations have reported tracking sales attributable to social media, while 73% of marketers believe social media facilitates reaching new customers more effectively than other channels.

In essence, social media remains a pivotal tool for B2B marketers aiming for tangible results.

But here’s the catch: You need a robust strategy that maximizes productivity within the available time frame.

That’s precisely what we’ll delve into in this guide.

We’ll assist you in:

Understanding the significance of B2B social media in 2024.

Identifying the top B2B Social Media Marketing Trends for 2024.

Constructing a superior B2B social media strategy (the framework).

Avoiding 7 common pitfalls in your B2B social media strategy (and how to navigate them).

Establishing B2B Social Media Budgets & Evaluating B2B Social Media ROI.

1. Why B2B Social Media Matters in 2024

Data from LinkedIn reveals that 75% of B2B decision-makers rely on social media for information before making a purchase. Your brand is now closer to your customers than ever before.

But behind every B2B transaction, there’s a human element.

With consumers completing 90% of the purchase journey before reaching out to you—and devouring 13 pieces of content along the way—your products should seize the spotlight.

You can foster engagement on social media through various means: websites, videos, carousels, articles, posts from your executives, and your brand itself.

Great! So, we start sharing content.

But does that automatically translate into conversions?

Let’s be real.

Content alone isn’t enough. Your social media strategy must align with your business objectives.

And if you’re not cultivating those connections with your customers, who is?

You guessed it—your competitors.

However, you can bring your team up to speed in 2024 by acquainting them with these 7 trends in B2B social media marketing 👇.

2. Top B2B Social Media Marketing Trends in 2024

Influencer/UGC/Creator Marketing

While not a novel concept, this trend continues to gain traction.

B2B marketers are increasingly leveraging influencers and influencer-driven content within their overall strategies. This trend is substantiated by a steady annual increase in spending on influencer marketing, which soared by over 26% in the US from 2019 to 2023.

Why the surge in investment in influencers? Partially because of the persuasive impact social proof wields over customers. Moreover, the investment in user-generated content (UGC) via customer reviews, testimonials, and case studies has surged significantly, in alignment with this trend.

According to feedback from our clients, the desire for “quality content” is a driving force behind this trend. Who wouldn’t desire creative, original content—presented from a fresh perspective and crafted by skilled creators—that may outshine your advertisements and posts? 

B2B brands are turning to independent content creators to promote informative and educational content about their products in novel formats and styles—from TikTok videos to Twitter threads and Reddit discussions.

The proof is in the pudding. In 2022, 86% of B2B brands deemed their influencer marketing efforts successful, as it bolstered their brand reputation and awareness.

As brands continue their quest to heighten brand recognition in 2024, more B2B enterprises will harness influencers, UGC, and creators to sway buyer decisions, engage with new or targeted audiences, and enhance brand advocacy.

We anticipate more brands adjusting their media budgets accordingly.

Impact of Generative AI on Social Media

While AI isn’t a new concept in B2B, discussions surrounding it have intensified in recent months. Propelled by ChatGPT and other generative AI platforms (we’re looking at you, Google Gemini), companies are deploying AI for copywriting, competitor analysis, decision-making, and enhancing customer experience through personalized recommendations.

One of the key advantages of AI is its ability to expedite social media content creation. Indeed, large language models (LLMs) prove particularly valuable in unleashing the creative process and generating a multitude of content ideas for engagement and marketing purposes. 

AI is also shaping ad creativity. AI models like Midjourney, DALL-E 2, and Canva AI can generate original and imaginative images for social media content without infringing on copyright (so far).

In 2024, more brands will harness generative AI for their marketing R&D and content creation endeavors. Brace yourself—you’ll be hearing a lot more about this.

Expect Enhanced Search Capabilities on Social Media

Both Millennials and Gen Z consumers are turning to social media to find what matters to them. You’ve likely heard that 40% of Gen Z individuals resort to TikTok or Instagram to gather more information on products, reviews, and influencers before resorting to a conventional Google Search.

We’re also witnessing a surge in Google searches appending the word “Reddit” at the end, aiming to exclusively fetch results from that platform alone, given its depth, diversity, and quality of content.

Platforms like TikTok, LinkedIn, Facebook, and Twitter are responding to this heightened usage by refining their products to offer better native search experiences. 

To remain visible in social media SEO, ensure you incorporate the right keywords in your profile, title or heading, and posts. For platforms like TikTok that favor search-friendly content, contemplate the type of content that could land atop search results.

Increased Emphasis and Investment in Executive and Employee Brand Social Media Initiatives

In 2024, B2B brands must integrate executives and employees into their social media initiatives.

Relying solely on your brand page for company communication won’t suffice. People crave human connection.

Several B2B social media strategies already encompass employee advocacy programs, which formalize the process, tools, and incentives for employees to promote their organization’s content on social media. And these endeavors pay off, yielding 5x more web traffic and a 25% boost in leads.

Having CEOs and other executives actively engaged on social media provides current and potential customers, employees, prospective employees, and investors with a platform to engage in dialogue and offer

Let’s delve into the common types of B2B social media goals and ways to gauge their effectiveness:

**Brand Awareness**

The first step in building a successful business is ensuring potential customers know who you are, what you offer, and how you can help them. Brand awareness is all about creating excitement around your company and its offerings, fostering a loyal community, and attracting new leads.

To measure brand awareness effectively, consider:

1. Direct Traffic: When users directly visit your website by typing in your URL.

2. Mentions: The frequency of your brand or product being mentioned on social channels.

3. Brand Search Volume: How often people search for your brand name on search engines.

4. Reach: The total number of people exposed to your social media posts.

Additionally, more advanced measurements like unaided recall and brand lift can provide deeper insights, though they may require third-party verification and higher ad spending.

**Engagement**

Engagement on social media indicates how well your content resonates with your audience and plays a vital role in boosting content visibility. Metrics to measure engagement include:

1. Conversation/Comment Rate: The average number of comments and responses per post.

2. Reaction Rate: The number of reactions or likes per post.

3. Amplification/Share Rate: The number of shares per post.

4. Video Views and Duration: How many times videos are played and how long viewers stay engaged.

5. Clicks per Post: The number of clicks on links in your posts.

**Lead Generation and Conversions**

Generating leads and conversions is crucial for any digital marketing strategy. Key metrics to track include:

1. Cost per Lead (CPL): The cost of acquiring one lead.

2. Marketing Qualified Leads (MQLs): Leads that match your qualification criteria.

3. Customer Lifetime Value (CLV or LTV): Predicting the net profit generated by a customer over time.

4. Close Rate per Channel: Examining which channels generate the best leads.

5. Average Close Rate: Tracking the quality of leads to assess conversion potential.

**Linking B2B Social Media Goals to Operations**

B2B social media efforts can extend beyond marketing and sales to benefit other departments like hiring and customer service. Consider goals related to acquiring new candidates, solving customer problems, and retaining customers.

**Audience Clarity**

Understanding your target audience is essential for effective social media campaigns. Define your ideal customer profiles/personas and tailor your content and channels accordingly.

**Social Media Channels for B2B**

Choose social media platforms based on your goals and target audience. LinkedIn is highly effective for B2B marketing, offering benefits like building personal relationships, launching products, and generating leads. Facebook remains relevant for B2B marketing, providing opportunities for broad reach, engagement in groups, and video content.

By aligning your goals with appropriate metrics and platforms, you can maximize the effectiveness of your B2B social media strategy.