Article Contributed by Dave Mathews
Whether it’s B2B or B2C, you do business with humans having specific social circle. Since, social circles are growing online, you must have to upgrade your plans and strategies in order to better achieve your objectives. By first quarter of 2012, 41% of B2B companies on Facebook report successful lead generation while the conversion rate on Linkedin is way too high than Facebook and Twitter together. For instance IBM alone reported 400% increase in sales due to social selling!
Well, it’s not just about generating leads for which B2B firms must be actively using social media, instead there’s a series of benefits.
Benefits of Social Media for B2B Firms besides Lead Generation:
Branding: If you’re a brand you set your price, and if you’re not, the one who makes cheaper wins the game! For B2B firms, branding is the most important area to work on and nothing other than Social Media can have maximum outreach as well as cost effectiveness. Do check how branding works in Social Media age!
Reputation Management: It’s so closely related to branding that without effective reputation monitoring and management you cannot build a brand. According to stats, a single negative feedback about a business over social media costs 30 customers. Being a B2B firm, you’d certainly not want to lose a single so you must start monitoring your reputation online using Social Media. Find detailed notes on Reputation Management through Social Media at Social Media Influence and Slideshare.
Market Research: The key to build a brand is either to make people happy or else to take them away from pain. In order to know the pain and to bring happiness, you must listen to them first, that what is Market Research for B2B firms. There’s no better way than Social Media to listen to real time problems, so explore related communities. Methodologies may vary depending on the niche, but do consider the basics of market research using social media here and here!
Extended Market Segments: With available tools that can target audience based on geographic location, interests, beliefs, academic qualifications, organizations they work in and lot more, you get the chance to target a bigger market segment.
Talent Acquisition: When it comes to prepare products/services and market them to a business audience, you need the best talent in your teams. LinkedIn.com better serves the purpose; however, knowing about effective use of Social Media for recruitment will be great.
Public Relations: Staying connected to industry is the key to progress, and Social Media makes it as easiest as possible. Having industry bloggers in circle and staying active in relevant communities lets you use their PR and get known to their subscribers. Here’s a useful guide for getting noticed by industry influencers.
Traffic through Search Engines: An effective Social Media strategy provides links to your website and as a result you get target audience landing on your site. Make sure that you use EzineArticles.com, HubPages.com, Step by Step etc well by creating content related to your industry for better click through.
B2Bs can have more benefits depending on objectives and industry, however, a effective Social Media strategy is required.
What’s your B2B Social Media Strategy?
About the Author
This post is contributed by Dave Mathews, looking after PR activities of Stepbystep.com. Public Relations and Social Media Marketing are Dave’s areas of expertise.