Interesting exchange on LinkedIn earlier this week involving two B2B marketing experts. And as you’ll see, it’s all about social networks and their usefulness in marketing. Are social networks even worth it in B2B marketing, or should we call AI to the rescue?
Part of the question is posed by Michael Brenner, CEO of Marketing Insider Group, who cites one of their studies (which I haven’t found yet). According to this study, only 2% of website traffic comes from social networks. At ExoB2B, in good times, we’re talking 4%. So, yes, are social networks worth it? Or are we putting too much effort, time and money for a low return on investment – ROI?
By the way, while searching for the study in question, I came across some other interesting figures cited by Mr. Brenner.
In a post on their blog, he writes: «There is an observation in social media called “Participation Inequality” or the “1% rule” that says that 1% of us create content, 9% of us share content and 90% of us are pure consumers of the content created.
As a marketer, I feel like it is our role to at least be in the 9%, and ideally in the the 1% of active social users creating or sharing content. I believe Marketers should not be the “content leaches” of the business world but should be leading conversations and driving innovation and new ideas».
This is a new interpretation of the social technography scale
The one that dates back to the early 2010s, but which I still use from time to time. Remember it? 👀👇 If we go by the figures put forward by Mr. Brenner, the change is profound: creators and critics have gone from 20% to 1%.
At first glance, the figures for traffic and participation seem to have nothing to do with each other. But do they really? Personally, I think they both point to a trend towards a waning effect in B2B marketing. In the absence of results, less and less effort, time and money are being invested. And in the absence of renewal, we’re seeing declines in traffic, subscriptions and engagement on every platform. Everywhere…
From Facebook to Instagram and YouTube, via the dormancy of account X (ex-Twitter) and inaction on Threads and the irrelevance of TikTok in B2B. Even on LinkedIn, there have been declines, some due to changes in the algorithm.
In the same post cited above, Michael Brenner consulted his subscribers to find out if they were running out of steam, and if so, why? No time and no value were the two main answers.
Anyway, back to the LinkedIn exchange between Michael Brenner and the other B2B content marketing expert and influencer, none other than Ann Handley. I’m translating what they had to say here.
Are social networks even worth it?
Michael Brenner : «Our research shows that Social Media generates less than 2% of the avg company website’s traffic. So what’s a marketer to do?
- Automate as much as you can to minimize the time while staying (arguably) “relevant” on each platform
- Share more posts without links, Jokes, opinions, tips, hacks all work but of course this takes time
- Engage on other people’s posts (again takes time)
- Focus more on paid content amplification (our biggest area of growth right now 🚀)
In the end, it comes down whether social media is really worth it for you. Really think through the time and cost vs ROI benefit. The platforms want to keep users on their platform. They do not want to send visitors to your site.»
Seen at the recent CMWorld conference in Washington:
Keep #SocialMedia in the mix, but focus on your own content first, says @PRIsUs via @AnnGynn @CMIContent. #CMWorld
And Brenner to add: «My honest opinion is either commit to use social platforms to engage with your personal brand (Ann Handley is the supreme example of how to be amazing at this) or minimize the time spent».
Now it’s Ann Handley’s turn to answer the question, and you’ll see that her answer differs greatly:
«“Is social media even worth it?” Michael Brenner rhetorically posed this question here, citing his research that shows that social media generates less than 2% of the average company website’s traffic.
Here’s the deal:
Social media has NEVER been about conversion. It’s about:
👀 awareness
🗺 discovery
👋 meet-and-greet
Then later on:
🤗 engagement
📩 subscription
👯♂️ conversion (however you define “conversion”)
When social media “doesn’t work” it’s because we’re impatient. We’re not good at slowing down to build trust and connection at the discovery, awareness, meet-and-greet stage… (on the path to conversion).
Maybe not every brand chooses to engage on social. Maybe it’s not worth it to them because they don’t have the resources or patience. That’s totally fine. It’s a choice we all make about where to best optimize the resources we do have.
And yes – platforms are always evolving/changing (shakes fist at algorithm! And Musk!) But isn’t that always the case with marketing? Tactics fade/tactics emerge. (Except you email… can’t quit you.).»
Are social networks less effective?
So, according to Ms. Handley, it’s because companies, like individuals, are impatient and don’t see paying results fast enough…
There are certain reasons why they might be perceived as less effective or declining for some companies or users. Here are a few possible reasons:
- Information overload: Social networks are increasingly saturated with information, advertising and content. This can make it difficult for companies to attract the attention of their target audience and stand out from the crowd.
- Platform algorithms: The algorithms of media platforms and social networks are constantly evolving, which can make it difficult for content to be seen organically. Companies may be forced to spend more on advertising to reach their audience.
- Loss of trust: Data privacy concerns and social networking scandals have contributed to a loss of trust among users. This can lead to less frequent or more cautious use of platforms.
- Decreased engagement: Organic engagement (likes, shares, comments) on social networks can decline, which can make it harder for companies to interact with their audience and create meaningful connections.
And we continue…
- Market saturation: In some sectors, competition on social networks can be fierce, making it difficult for new companies to gain a foothold.
- User fatigue: Users can experience social network fatigue due to excessive time spent online, the pressure to appear perfect, and the controversies associated with social media.
- Changing preferences: User preferences evolve over time. For example, some users migrate to newer networking or social media platforms, or turn to other forms of online communication, such as private messaging. (Ms Handley’s email 🙂
AI to the rescue!
Platforms are well aware of these problems, and many, if not all, have or will be using artificial intelligence to try and improve the situation. Example? LinkedIn has many reasons for developing AI tools, but one of them is to help the site address certain engagement challenges, which can be particularly problematic on LinkedIn.
Given that connections there are more likely to come from a professional network, people aren’t known for «acting like a zouave» (Hey captain Haddock?) and need to show themselves in their best, professional light. Sometimes, it’s easier not to publish anything at all.
That’s why AI tools are designed to encourage users to click more and create more, so that they spend more time on the site.
The company, which says it will surpass one billion users this month, recently unveiled its latest AI efforts: AI will provide personalized summaries to people reading content on the site, and AI will help them write their own content on the platform. Initially, the new tools will be rolled out to Premium (paying) users, and will appear in three areas.
It will be possible to use them to beautify our news feed, to digest related articles, or to write something clever about that article when it’s time to share it.
Conclusion
I’m repeating myself, or even worse, I’m rambling… But overload, saturation and fatigue bring us back again and again to that good old phenomenon we identified in our e-Book on the content crisis. Will AI come to the rescue of social networks?
Want to discuss it with our experts?. Do you need to rethink your content strategy, in particular your use of social media and/or networks? Contact us here.
Update
I finally found the Marketing Insider Group study!!!! It’s available HERE. And check out the 2% graph. 👀
