A recent report from Chinese social-media-management platform KAWO has revealed that multinationals in China overwhelmingly use social media as a marketing tool. After surveying 50 international business-to-business multinational corporations (MNCs) in the country, KAWO found that social media is a top marketing tool for MNCs in 20 different sectors.
According to the B2B Social Media Marketing Research Report, 94% of international business-to-business MNCs based in China pointed to social media as a major channel for marketing. In addition, 70% said they plan to increase their social media marketing budgets this year. Furthermore, 86% and 66% of the respondents identified offline events and paid search as top marketing channels with 38% noting that they would increase their paid search marketing budget in 2024. The report noted that the 44% of the respondents also suggested plans to cut their display ad budget.
The survey showed 42% of the polled international B2B MNCs noted that boosting brand awareness was the primary goal when they used social media for B2B marketing while 34% said they utilized it to generate leads. KAWO’s report also states that 88% of the companies used impressions, views and reads as social media metrics, and 80% considered generated leads as social media metrics.
Interestingly, only 18% of international MNCs said they use sales revenue as a social media metric. Although many firms leverage social media marketing to turn leads into potential return sales, tracing a customer’s journey and attributing certain sales to social media is nigh impossible without an efficient revenue contribution model.
KAWO’s chief executive officer Alex Li explains that with more international B2B MNCs looking to break into the Chinese market or expand their operations in the country, navigating China’s unique social media space will undoubtedly be challenging. The social media management platform’s report shows that plenty of marketers will need resources and help to align their social media efforts with corporate objectives and goals, Li said. He adds that companies such as KAWO can help marketers at international B2B MNCs streamline their collaboration efforts, improve efficiencies and make data-informed decisions.
The majority of the respondents (90%) reportedly spend one to three hours every week syncing and reporting with their overseas partners, and 88% noted they would collaborate more effectively with international colleagues if they had a bilingual social media management platform.
Unsurprisingly, WeChat was the top social-media company in China by a wide margin. In fact, 100% of the businesses involved in the poll had WeChat official accounts and 76% of the businesses were on WeChat channels. Overall, 80% of the polled businesses said they believe WeChat is the best platform for achieving their business objectives and goals within the next three years.
This report shows how influential various social media apps such as Momo Inc. (NASDAQ: MOMO) are, not just in China but around the world.
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