by tradespeopleinsights | Feb 24, 2010 | Marketing Trends, Social Marketing
According to a recent study completed by Alterian in their 2009 annual survey (get the full report here), social media will become the focus of marketers in 2010. This should come as no surprise to us in the B-to-B marketplace where budgets are still tight and management is continuing to demand accountability for marketing efforts.
The survey covered 1068 marketing professionals. The respondents came from Europe (36%), from North America (62%) and from Asia Pacific (2%). Here are the highlights:
- 66% will be investing in social media in the next 12 months.
- Of those investing in social media, 40%will be shifting more than 20% of their traditional direct marketing budget towards social activities.
- 67% feel social media is either critical or increasingly important to their success.
- 36% are investigating social media monitoring tools.
- 51% are moving from a campaign-centric direct marketing to a model of multichannel customer engagement.
Commenting on the survey results, Alterian CEO, David Eldridge, said, “2010 marks the start of the digital decade for marketing. Untargeted and irrelevant marketing techniques are now redundant and the results of this survey show many in the industry recognise this. The one thing to remember, however, is that investment in Social Media Marketing is futile without adequate measurement.”
Eldridge concludes, “Engaging with customers is becoming paramount and the yardstick by which we measure those brands that survive and those that don’t. Marketers now need to appeal to the individual and engage with customers on a one-to-one basis. The easiest way to achieve this is by investing in Social Media Marketing and Social Media Monitoring, and by embracing the web.”
So what are your plans for 2010? Are you going to embrace social media? I’d like to hear what you’re planning on doing.
by tradespeopleinsights | Feb 23, 2010 | Marketing Tips, Marketing Tools, Social Marketing
B-to-B marketers, especially those in the manufacturing sector who are targeting the professional tradesmen, are slow to adapt to new things and social media is one of them. I’ve seen it in our business that clients (manufacturers) are aware of social media, but don’t know how to use it to get business. Yes, social isn’t about getting business (short-term), it’s about branding and thought leadership roles, but in the real world and especially in this economic climate, companies are also identifying new potential customers and taking them through the selling cycle to see if they can be converted to a sale. If B2B folks would have a better understanding of how to use social, then it would be easier for them to incorporate it into their other marketing efforts.
I recently read a post by Kipp Bodnar from Social Media B2B, 7 steps to building a B2B social media lead generation pipeline. Kipp outlines ways to identify and take leads through a system just like any other lead. Here are some highlights from his post:
- Understanding online analytics – You need to understand what the data is so you know what to do with it. There are several tools available, both free and paid. Google Analytics is probably the most popular free one. But it’s important to have analytics across social platforms and a simple data collection tool like Bit.ly would work just fine for Twitter and the built-in Facebook Fan pages.
- Develop a strategy – I’ve said over and over that content is king. So you need to develop a strategy to communicate the type of information your target audience wants and then overlap its content distribution platforms like Twitter, LinkedIn, Facebook, Blogs and Forums.
- Build a mechanism to gather leads – What good is it to generate leads if there is no place to identify next steps? What do they want—literature, demo, a salesman to follow-up?
- Integrate leads into a CRM system – Leads don’t matter if you don’t get the right info to the right person. There are several out there and the one we use is called Ultimate Lead Systems. It can track leads by source, type of product or service they are interested in, and track any kind of correspondence you have. It also helps you monitor your sales forces activities as it relates to new business.
- Set up a social sales follow-up program – You need to find where a potential lead is in the selling cycle and then nurture them down the sales funnel. I wrote a post, Where do your prospects fall in the sales cycle, that will shed more light on the different stages.
A social media lead generation program isn’t really different from a traditional one other than the issue of speed. Responses can be immediate and you need to be able to support them appropriately.
These, by no means, are all the steps. What are ways you’re dealing with this issue?
by tradespeopleinsights | Feb 18, 2010 | Marketing Tips, Marketing Trends, Social Marketing
One of the biggest challenges I face with our B2B clients is trying to convince them that Social Media has a place in their overall marketing plan.
B2B an B2C are more aligned than you think. And in most cases in my opinion, B2B companies have an advantage because they have a well-defined audience, (e.g. Plumbing Contractors), where they can focus their energy and expertise.
Jay Baer in a recent post, Crushing the Myth of B2B Social Media, agrees with my premise, and he cites a recent study by MarketingProfs, State of Social Media Marketing Report, (which surveyed more than 5000 marketers) that both B2B and B2C marketers basically used the same tools… Facebook, LinkedIn, Twitter, YouTube and MySpace.
In that study, both use the same basic tools, but how they use them differentiates the two groups. Jay reinforces the fact that no matter who you are, you should have a plan and process in place to implement and monitor your progress.
So B2B marketers should get on the band wagon and start utilizing these tools.
by tradespeopleinsights | Feb 17, 2010 | Marketing Trends, Social Marketing
Even though social media will not replace search marketing, it is still a strong contender when it comes to both traffic and brand loyalty. According to Chris Crum, WebProNews recently covered a study from Chitika which found that Facebook was the most valuable social media tool for driving repeat readers to content sites. The study considered you a loyal user if you went to a site 4 or more times a week, and Facebook led the pack with 20% of all visitors. While the likes of Google will certainly outpace you in sheer numbers, Facebook’s popularity offers you the value added of them probably seeing your info on that page because of the frequency of them checking it. Chris’s insights and suggestions are worth the read.
by tradespeopleinsights | Feb 16, 2010 | Marketing Tips, Social Marketing
Social media isn’t like other traditional methods of marketing like direct mail or e-mail campaigns. These have set objectives and ways to track response mechanisms to check open and response rates.
Social media, on the other hand because of the nature of the beast, doesn’t have those types of metrics in place. Social media isn’t like other traditional methods of marketing like direct mail or e-mail campaigns…and please don’t do it because everyone else is!
Thomas McMahon in a recent post, 7 considerations for tracking social media success, outlines some great suggestions on how you may want to evaluate your social media tracking.
Here are some highlights:
- Quality over Quantity – The only really important numbers are the ones that are following you that are truly engaged and interested in what you’re saying.
- Hearing vs. Listening – You need to realize that not everyone is always hearing you. You want to connect with your listeners and hopefully get them engaged.
- Participate and Engage – Social media is about involved. You just can’t post articles…you need to participate in conversations.
- Be Where Your Action Is – Define your niche market and then find out where like-minded people hang out. Those are the forums, blogs and communities you need to be active in.
Remember, social media is a long-term investment with no short-term ROI. Be patient, build your network and trust within your target audience and social will pay off in the long run.
What other considerations should be on this list? I’d love to hear from you.
by tradespeopleinsights | Feb 11, 2010 | Marketing Tips, Social Marketing
If you’re reading this post, I’m preaching to the choir, but it’s amazing the number of people who still don’t understand social media. If they have an idea of what it is they have, they don’t have a clue on how to use it in the B-to-B world.
I recently did a webinar for our clients and prospect list that is now housed as a webcast. If you know of someone struggling with the social media scene, this is a 35-minute overview of how to use Facebook, LinkedIn, Twitter, YouTube and Flickr from a B-to-B perspective. I showed practical examples of how real world companies are taking advantage of social. It’s my way of trying to spread the good news about social media.
