June 4, 2014: A new study from branding firm Siegel+Gale revealed that B2B decision-makers are just 10% more likely to consider purchasing from brands that they feel connected to. Even with a low number than expected, the study also illustrated a connection between socially connected brands and business impact. More specifically, out of the top ten most connected brands, in 2010 to 2013, 31% saw greater revenue growth and 27% had stock value growth than the ten least connected brands.
The study was made up of almost 10,000 consumer respondents, 450 business decision makers, and 64 B2B-focused brands on the impact of B2B marketing when consumers feel “connected” to brands.
The study identified the top and least connected and relevant brands in this chart, which appears in the PDF version of the study:
In addition to these statistics, the #B2BNow study also highlighted the changes and strategies that some of the most well-known companies have implemented since 2008 and beyond.
How a company sees a brand online (whether it is through social media, customer service, or even its website or blog), does matter greatly to consumers in all verticals. A good example of this BazaarVoice‘s findings, which showed that:
“After seeing a brand response to a review, 71% of consumers change their perception of the brand.”
Furthermore, brands like connecting with brands on social media directly in order learn more about them or for help with their purchased products and services. Another example of this: a 2013 infographic published on DigitalBuzz found that:
80% of study participants preferred to connect with brands on Facebook rather than other mediums.
Overall, this means that B2B marketers need to focus on connecting to their current and targeted audience. The full PDF of the Siegel+Gale study can be downloaded here.