Easytechnician knows his stuff!! +1
If your target market is business, then no... Social media marketing isn't going to directly result in customers. That doesn't make it any less important though. For you B2B guys, social media is all about brand recognition. Getting your company's name and logo in front of as many people as possible, and as much as possible. I made name and logo bold because they're the most important part. Your Facebook, Twitter, Google+, etc. accounts all need to be setup with your company's legal (or dba) name, and the exact same logo you use everywhere else. Don't use variations of your logo, don't use pictures of yourself or your staff. Only use your logo. You can always post other pictures of whatever you want, but save that for your photo albums. Profile pictures should always be logos. (Did I repeat that enough? LOL)
As far as your reach, let's use my FB page for an example. When I started my page I shared it with all of my FB friends and so did my girlfriend. Within a few months, about 50 or so of my personal friends had liked my page, and about 50 or so of my girlfriends friends had as well. SO, at that point... anything posted to my page was seen by 100 "friends". HOWEVER, when you post interesting content you get interractions. THAT is where the magic starts to happen. Anytime someone interacts with your page, all of THEIR friends see it! All of a sudden you have people you don't know seeing your content! A few months of posting interesting and relevant content and all of a sudden you have people you don't know "liking" your page. Magic.
One thing you should know about Facebook. People "like" things like crazy... it doesn't matter what it is... if it's interesting to people, and it has a like button, you can bet your ass they're going to click it. So... hardest part of social marketing? Creating interesting and relevant content. Something that will get you the interaction you need. Preferably something that will drive people to your webpage or blog... but even just page "likes" are good, because each "like" increases your reach exponentially. For example: on 4/27/12... we had maybe 170ish fans... but we reached 1,224 people! What that means is, 1,224 people saw our content on Facebook!! 114 Organic, 1,175 Viral (organic means people who saw our content directly... viral is people who saw their friends interacting with our content).
So, Velvis asks who's going to follow your company other than friends, family, and existing customers? Answer: Potential customers! Here's something to note... we've never had someone like our page because they were a customer. It's always been the other way around. People like our page, then become customers! But why did they like our page? Because we posted something that interested them.
Now I'm not going to lie... we did run a Facebook ad which added a nice number of "likes" to our page. But ads aren't magic. You still have to post something interesting to get people to click that like button. A note on ads: When you run them, you want to make sure you're specifically targeting your audience. You can target a specific geographic location, an age group, a gender, certain interests... choose the options that give you the largest number of people who are actually part of your target audience. Getting likes from the next state over isn't going to do you much good unless you actually intend to service customers out of state.
Now, as if this post isn't long enough... let's touch on another point! LOL
This is all well and good if you're marketing to residential customers, but what about businesses? Your potential clients aren't sitting around all day reading Facebook, right?
Well... actually, they are. Just because your target client is a business doesn't mean Facebook is irrelevant. That business owner, the employees, etc. probably all have Facebook pages. If you're doing your social media marketing right, that business owner or his wife, his kids, his secretary, etc. will eventually see your content... recognize your name... maybe even like your page. You're probably not going to get that business to interact with your page... but you can easily get that business' owner and employee's to do so. And when you eventually turn that business into a customer, you actually COULD get that business to interact with your page. Now all of a sudden people are seeing that [Your Business Customer] likes [Your Business] on Facebook. Bam! More magic! LOL
Of course, this type of marketing isn't a direct approach to B2B marketing. This is more brand recognition than anything. But like others have said, good social media marketing and blogging will increase your ranking with Google... and being at the top of Google's list is everyone's goal, right?