When was the last time you compared your social media to peers and competitors? In 2019, Buffer reported that 80% of marketing teams think they’re doing social media exceptionally well. But only 8% of their customers agree – ouch! So, how are you going to assess if your social media presence is up to standard?
Why you should benchmark
Benchmarking is a great way of identifying what you’re doing well and understanding what techniques you might be missing. By considering an external perspective, benchmarking helps to position new goals which inevitably carve out the next steps towards reaching social excellence. If used properly, this will enable a much better understanding of unique marketing processes, the B2B industry as a whole and, most importantly, meet the needs of customers.
What do we mean by benchmarking?
In this instance, benchmarking quite simply means comparing your key social media performance metrics to industry best practices. It doesn’t need to be complex. Using industry average figures is a great way to save time, take into account both peers and your competitors and set realistic targets.
What could you do to improve social media?
There are lots of different routes you could take to refresh your social media strategy. For example, you could try:
- encouraging sales to engage with social
- reviewing which social channels you use
- carefully planning an integrated campaign
Each business will have different priorities. It’s important to outline these priorities to help bridge gaps in digital strategy and cut through the noise that exists across social media platforms.
- 45% of the world’s population are on social media
- The average time spent on social media daily is 142 minutes
- 80% of B2B leads came from LinkedIn
- 94% of B2B marketers use LinkedIn to distribute content
There are clear opportunities and fierce competition. But are you doing social media ‘right’?