B2B, or business to business, companies are newer to the world of social media, even though many popular brands have already made the plunge into social networking. Business.com revealed in November 2009 that 73% of their B2B clients had begun using social media, although they have less than two years of experience.

Of course, since social media is becoming big on all fronts, large increases can be expected when it comes to B2B utilizing social networking. Marketers are now seeing the benefit of using social media to create connections and leads in business, as well as allowing them to establish their business as an authority within their niche market. Outsell estimates that social media will grow by up to 43.3% in 2010 alone, and Forrester Research expects B2B businesses to increase their social media budgets from 11 million in 2009 to 54 million in 2014.

Some of the greatest resources available through social media are paid advertisements, whether they are in search engines, text ads, or website banners. This type of targeted advertising is widely used on MySpace and Facebook, and it roughly encompasses a small percentage of B2B marketing budgets. However, many B2B businesses reveal that they will start to increase their marketing budgets to widely focus on social media through promotions, public relations, and social networking to increase awareness.

In the past year, most B2B marketing was focused on customer communities, blogs, and podcasts, and social media is expected to be the more relevant advertising outlet for the future. B2B companies hope to use the rapid expansion of social networking to establish themselves as experts in their online communities as an effective form of marketing.

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