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NEWS: 70,000 sales leads lost on social media every year

B2B brands are potentially missing out on over 70,000 sales opportunities on social media, the B2B Social Media Reporby Brandwatch has shown.

The study of 200 B2B organisations in the US and UK, revealed that marketers are failing to engage with customers with the ‘intent to purchase’ on social media.

Brandwatch analysed 72,756 brand mentions with the ‘intent to purchase’. These are online updates that express the desire to actually buy a product or service. Worryingly, less than one per cent of these mentions were engaged with by companies. The report claims this is up to $36 billion of missed revenue.

Meanwhile, the research showed that 76 per cent of B2B brands now manage at least one social media account on Twitter or Facebook, with leading accounts having an average of 47,000 Twitter followers and over 210,000 Facebook likes.

In addition, on average leading B2B brands are mentioned 5055 times on news sites, 2935 times on forums, 2623 on blogs and even 375 times on video and image sites. 

Natalie Meehan, marketing insights analyst at Brandwatch, commented: “By being better educated in the areas they need to be active on and uncovering these conversations before they die out, or worse, end up in the hands of a competitor who is doing a better job of monitoring than them, B2B brands have a wealth of potential sales opportunities at hand.”