TikTok Dominates B2B
A recent report by Meltwater highlights the surging importance of social media for organizations in the face of global economic uncertainty. With brand awareness as a top priority, more than half of the survey respondents (52%) expressed that social media has become a critical channel for their organizations due to prevailing economic challenges.
Social Media Growth Amidst Global Economic Uncertainty
While Facebook remains the most widely used platform, TikTok is emerging as a frontrunner in terms of growth, experiencing a remarkable increase of 30% compared to last year’s 16%. Notably, 47% of respondents are planning to incorporate TikTok into their marketing strategies in 2023. This figure soars to 56% when focusing on respondents in the United Kingdom & Ireland (UKI).
Samantha Monk, director of global enterprise solutions at Meltwater, stated, «In the current economic climate, many brands are turning to innovation to maximize their marketing budgets. A well-thought-out social media strategy allows marketers to efficiently and cost-effectively capture and maintain customer attention. It’s no surprise that respondents are leveraging these tools to enhance their brand awareness.»
Social Media in UK region
The UKI region remains at the forefront of social media marketing, with Facebook (90%), LinkedIn (93%), and Twitter (89%) being the top three utilized platforms. While Instagram is used by 82% of respondents, YouTube’s usage lags behind at 66%. Notably, Twitter usage in the UKI region is 23% higher than the global average, indicating a strong preference for this platform.
Jess Smith, marketing manager of Meltwater UKI, commented, «The focus on brand perception and awareness is on the rise in 2023. Despite challenges faced by marketing professionals, social media remains an invaluable tool to tackle them, as evident from the report. Investing in social media channels, especially TikTok, proves to be a powerful method of building a robust brand.»
Across all sectors (B2B, B2C & NGOs), the survey results underscore that increasing brand awareness (81%) and brand engagement (60%) are the primary social media goals. Surprisingly, only 23% of organizations use brand reputation as a key metric.
In conclusion, social media has become an indispensable element in the communication mix for organizations, regardless of their industry, particularly during times of turbulence and uncertainty. The meteoric rise of TikTok and its impact on B2B social media growth signifies its potential as a driving force for brands in today’s challenging landscape.