Despite investing financially in social media, to the tune of over £1m, fewer than 12 per cent of the companies surveyed have full time social media teams in place and those that do are not backing this up with clear strategies to their staff on how to use it.
Sean Mahdi, director in PwC’s digtal transformation group, says that B2B companies should follow the example of B2C companies, which are using social media much more effectively and profitably.
"The results of our survey demonstrate that, although B2B is investing in social media, they appear to be doing so with limited strategies that don’t fully exploit social media in the way that B2C is doing, There is evidence that sectors you might expect to be proficient in this area such as Technology and Entertainment and Media have much better tools and processes in place, but the majority of B2B organisations have much work to do to effectively use this 'new' medium to interact with their clients and customers."
The report also discusses how social media can be used not only to drive sales but also to create brand loyalty and a two-way channel of communication between the business and its customers.
"As embracing social media represents a significant change to the way in which many organisations interact with their customers, a social media strategy is essential. Becoming a social business requires insight ... about your customers, about what your brand stands for; and about the additional value that you can provide your customers through social media engagement," Mahdi added.
However, some of the more cautious business advisers criticise the use of social media as a strategy to drive sales because of its lack of accountability.
For more information, please contact Glazers, Chartered Accountants London or visit www.glazers.co.uk
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