Is Social Media Central to Your B2B Communications Strategy?

If it’s not, where does it fit? One example of a company who thinks it is central isn’t one that comes to mind when you think of B2B communications companies. But they are certainly a leader and one to follow: The Economist. As told to BtoB Magazine, the media outlet demonstrates how important social is for content distribution as well as driving subscriptions.

In the maze of communication where does social media fit?

So back to my original question: Where does social media fit into a B2B communicators strategy?

Are we at the point now where it at the center and all channels feed off it? After all, most companies now use social media for news release distribution — Twitter, StockTwits, Facebook, LinkedIn, etc. Keep in mind that we also still rely on wire services for reaching the majority of our journalist contacts (or email distribution). There clearly has been a shift in the past two years and moving forward there is no doubt that we now think different.

What are your views? Have we hit the tipping point? Or have we tipped?

If you enjoyed this post you may also want to read:

Social drive growth, content for The Economist, others — B2B Magazine

Are you ready for a real-time B2B world?

Still pitching to use social media?

Are you ready for these five trends?

What drives your b2b strategy?

It’s Time for B2B Social Media Marketing to Generate Leads

A B2B Voices Q&A  With Kipp Bodnar and Jeffrey L. Cohen

I just finished reading The B2B Social Media Book: Becoming a Marketing Superstar, by Kipp Bodnar (day job at HubSpot) and Jeffrey L. Cohen (day job at Radian6), hot off the presses this month. I recommend it. Despite the title, it doesn’t try to encompass everything you need to know about B2B social media marketing.  Rather, it tries to open the lock box to social media lead generation. Frankly, that’s the way we’re going to get a lot of B2B companies to start to take social media more seriously.

I’ll follow up with a longer review but I had a chance to ask Kipp and Jeffrey a few questions after reading the book, and here’s what they had to say!

Aaron:  You both obviously have a lot of passion for B2B marketing in general, and social media specifically. Why? Where did that come from?

Kipp: It is what I have always done. Since the beginning of my career I have worked with B2B companies mostly at marketing agencies and then here at HubSpot. I love the challenge of B2B. B2B marketing is the ultimate in problem-solving and storytelling. It is awesome.

Jeff: I, too, have always worked for B2B companies, including marketing agencies that focused on B2B and companies that sold through distribution. It is more exciting to live in a world where the product quality and company knowledge are the basis of a sale, rather than the correct Pantone color. The longer sales cycles require companies to build customer relationships that can be nurtured, rather than offering promotions and discounts.

Aaron: What is most misunderstood about B2B social media marketing?

Kipp: For me it is reach. In traditional marketing, B2B companies obsessed over narrow targeting because executing marketing tactics was expensive. Social media has changed this. Narrow targeting hurts B2B companies online. Bigger reach is needed to generate word-of-mouth and leads online. Even if a social media follow isn’t a potential fit as a customer, they have the opportunity to share your content with someone who is, but this is impossible to predict. Thus the need to actively build reach online. 

Jeff: The notion that social media marketing is a business-to-consumer-only activity is most misunderstood. Many conservative B2B companies think that just because there is less volume of conversation around their company, products and industry, that social media is not for them. This ignores the benefits that social media brings to search, and the ability to leverage and share the knowledge and expertise imbedded in B2B companies to build and nurture relationships required for lead generation. 

Aaron:  Why the intense focus on lead generation in the book?

Kipp: Lead generation is the genesis of B2B success. Marketing must generate leads and revenue to survive. Yes, branding, public relations and other aspects of marketing are important, but they can’t compensate for the lack of a solid lead generation strategy. If lead generation is sound, all of those other aspects of marketing can supercharge it. 

Jeff: We know that social media adoption is very slow for B2B companies, no matter what online surveys say. We chose this important slice of social media activity, lead generation, because when success, it demonstrates real value of social media. It is much easier for C-Suite executives to endorse rolling out social media across an organization if it has already generated revenue through this one approach.

Aaron: I especially liked your more integrated focus on bringing prospective customers along a path from initial reach to signing on for content (like liking a page) to ultimately responding to a call to action and becoming a lead. Give us an example or two of who does that well.

Kipp: Breaking Point Systems down in Austin, TX is crushing it. They sell network testing equipment, which is a high-consideration and long buying cycle B2B purchase. We featured their vice president of marketing, Pam O’Neil, in the book. They have an awesome blog, a website that is super SEO-optimized and a social media presence that is engaging and drives traffic and leads back to the website.  Pam told us that they have a 2800% ROI from their online leads. 

Clear Risk is a finical services company in Canada that is also doing a great job. They have an awesome Facebook page, Twitter page, LinkedIn Page, blog as well as a calls-to-actions and lead generation offers. 

Aaron:  What about nurturing existing customers?  Private B2B communities are big in some industry segments like enterprise software, for instance, but this seemed to be less of a focus in this book. Why?

Kipp: Honestly, that is another book. You’re right. Lead nurturing as well as customer retention is huge revenue-centric application for social media. We just didn’t have the real estate to cover it properly in The B2B Social Media Book, so we decided to save it for another one. We think that having a solid customer generation strategy is the right first step, and too many companies still need to improve that. Lead nurturing is the next step.

B2B Companies Need to Be Prepared for Crises Too

I attended a Minnesota Business Marketing Association breakfast yesterday that served as a reminder that crises can happen to B2B companies too, not just cruise ships. Unpleasant things happen – planes with executives crash, workers strike, products fail, plants close, tornadoes strike.

The speakers were Jon Austin, former spokesperson for Northwest Airlines and now with his own firm, and Paul Omodt, VP at Padilla Speer Beardsley and a former PR person for the Northwest chapter of the Air Line Pilots Association. When I was in college in the Twin Cities, I saw Austin in the local media more than I saw the White House press secretary. You can imagine the issues they had to deal with.

Jon Austin at Minnesota BMA on Crisis Preparedness for B2B

Here’s the quick takeaways:

First, yes you probably need some kind of crisis plan, even as a B2B company. Think of Arthur Anderson.  Respected, in business for like a hundred years, and then thanks to the Enron collapse, out of business in the blink of an eye. Austin noted that what killed Arthur Anderson was not the lawsuits filed, because those took 10 years to get through the courts. Instead, in the first month or two after the Enron collapse, they had clients calling them up say, “We love you guys and know you didn’t have anything to do with what came down in Houston, but we just can’t have you signing off on our financial statements.” Reputation damage killed them.

As Austin put it: “Dinosaurs were pretty dominant at one time, and now they’re pretty damn dead.” Don’t be a dinosaur.

Second, drill on crisis plans. It’s time-consuming to put these things together and it can be a relief just to finish but without practicing their implementation, they are still likely to fail you. For one thing, people panic. Is this a crisis?  Do I really pull the trigger on this plan now?  Practice makes them comfortable. Second, it’s a great way to learn if it really works, if the roles are all covered. You don’t want to find out you haven’t adequately prepared for the likely contingency that your CEO will be oversees, your phone system will be swamped, and your email wil be down. It’s a chance to be comfortable with the plan and identify any weak spots in it.

Remember 9/11? Austin was with Fleishman-Hillard by then, working on the United Airlines account. The crisis plan called for flying all the key crisis team members to Chicago as a central coordination point. The team hadn’t considered the possibility that U.S. airspace could be completely closed down. Fortunately, Austin was able to drive to Chicago from Minneapolis, but you can bet all those airlines learned from that experience.

The more realistic the rehearsal the better. We have a great product offering that I’ve written about before called Firebell  for drilling on a crisis. The strength of Firebell is it’s been designed to simulate a crisis on a social world, letting you see not only what happens on the local TV news but also what happens on your Twitter account, Facebook and other social channels. (blog post on it or email me)

Finally, keep the plan refreshed. A reorg can eliminate a team of people important to executing the plan. New products are developed and old ones are sunsetted. New markets are entered. Crises are not viewed the same all over the world.

Interesting comment from Omodt – some insurance companies will lower your company’s premiums if they know you have an effective and up-to-date crisis plan in place – something to look into.

In closing, says Austin: “Be a mammal. Don’t be a dinosaur.”

Around the World in Social Media

A lot has been happening in the world of social media, and I do mean the world. As many B2B companies move into using more social and digital tools we continue to read about case studies involving the big three — LinkedIn, Twitter and Facebook. But what abo0ut Sina Weibo? Orkut? Hi5? Renren? Are these networks a part of your strategy? Do you know who they reach and what they do? Do you need to expand your reach by using them?

Is your digital strategy stranded at home or are you on a journey to expand your work around the world?

As our business expands and we look to reach our customers around the world I’ve been reading more about the growth of social media globally. Here’s a breakdown of some of the research I’ve found interesting and helpful:

Asia

Europe

Latin America

But if you’re pressed for time and want a global view of what is happening online, I strongly suggest you download this Slideshare presentation from InSite Consulting and their total view social media around the world in 2011 (NOTE: you will need to request a copy from them).

Is there a presentation you liked that I missed pointing out above? Is there an example of what you’ve learned from your experiences? Is there a fact that surprised you from the information you viewed from the above links? Please share them in the comments.

If you enjoyed this you may also want to read:

World-Class social practices for B2B companies

What drives your social media strategy?

Are you ready for a real-time B2B world?

Are you ready for these five trends?

The most important question you can ask

Using social networking sites in B2B businesses?

What Drives Your B2B Social Strategy?

A new year and another opportunity to get under the hood and check your social engine. One of the keys to success in the social B2B space is having a strategy. The team here at B2B Voices have posted often on this topic of strategy from using social networking sites in B2B to looking at what makes a  world-Class social practice for B2B companies to asking the right question.

We all agree here that if you want to succeed you need to start with a strategy. Jeremiah Owyang from Altimeter now has a must read paper titled “A Strategy for Managing Social Media Proliferation.” The paper is a great way for the experienced and novice B2B communicator to step back and think about what you are trying to accomplish.

The social vehicle you choose should help drive your conversations and evaluation

The key takeaways for me were as follows:

Businesses struggle with strategy: On page six of the report it’s clear that companies are struggling to get handle on what they want to accomplish and how they will get there. One thing we always focus on here at B2B Voices is making sure your social media strategy aligns with your business and other communication initiatives. It should rarely be a silo. If you need help understanding what your strategy should be you can reference the graphic on page 13 of the study.

Vendors need to catch up: The rapid growth of free tools with premium tools is creating an overload of resources that in the end create more confusion. Page 10 and 11 detail the issues and in my opinion we will see an ongoing consolidation of these tools. There is a good review of many of the platforms in the report and we at B2B Voices would encourage anyone looking at tools to take your time in choosing where you spend your resources.

The one point to remember in this discussion is that strategy takes time and effort. Not only do you need to have the right tools to work with, but you need to understand your business goals as well as what drives your brand strategy. While it’s easy to “do” social it’s much more difficult to “do social well” and measure the results.

UPDATE (JANUARY 17): Apparently, Tac Anderson and I are on the same page when we think about social media. Here is his post (Can’t Find a Good Social Media Management Tool? Get a Strategy First) on the same study by Jeremiah Owyang.

If you enjoyed this post you may also want to read:

Are you ready for a real-time B2B world?

Still pitching to use social media?

Are you ready for these five trends?

Navigating the Legal Road Map of Social Media

Navigating the social landscape brings a number of challenges. What content should you publish? Do you use platforms like StockTwits that target investors? Do you create private or public LinkedIn groups? And what about those influencers?

Know your way around the law and social media

One thing we also cannot forget is collaborating internally. I’ve blogged before about making sure you have talked with InfoSec so both of you understand each other – your goals and their risks. Another department to work with is legal. Mashable has a new post on the five predictions for social media law in 2012. If you haven’t read it you need to, but don’t stop there. If you are continuing to try to convince legal about mapping out the opportunities and value of social media you should do the following:

  • Understand the concerns: Is legal worried about intellectual property? Privacy? Reputational risk? If you don’t know – or just think you know — now is a good time to sit with legal to discuss.
  • Find a legal champion: Someone on the legal team may already use social media (e.g. LinkedIn). Discover who you think may be someone that can help you understand the concerns before you go into a formal meeting.
  • Do your research: The Mashable post is helpful and a good start, but dig deeper. You should have a firm grasp of the concerns and issues so that you can alleviate the risks and make everyone more comfortable.
  • Find working solutions: There are always ways to be more flexible, so be prepared to work with your colleagues and have a variety of idea.
  • Create a dialogue: You can start with the Mashable article and forward it to your legal team. If you start positioning yourself as someone who understands their concerns they will be much more open to listening to you.

If you enjoyed this you may also want to read:

What’s your “I” in social media?

Why LinkedIn’s Company Pages Now Matter More

Are You Using StockTwits?

Do we need a social index for businesses?

When it Comes to B2B Content, Don’t Go it Alone

One of the most often asked questions when I speak is around content — “Where do you find so much information about your company to post?” The answer is easy: That much content doesn’t exist. What B2B companies fail to realize is the power of partnerships and connecting with other users for content. Shannon Paul also makes a good point about B2B content:

Many folks in the B2B space often blame the lack of social media content opportunities on the fact that what they do doesn’t directly impact consumers, but I don’t buy it.

Finding good, original content can be difficult. So stop trying so hard. Instead, focus on ways that you can find content from others and collaborate with others. Here are ways that have worked for us:

Find internal champions who will send you content proactively and make sure you give them their just internal rewards for helping out.

My inspiration partner happens to be 8 years old and drinks hot chocolate.

Identify the key content aggregators in your industry and work with them. This takes time and effort but will pay off in the long run.

Experiment with content on platforms and times to find what interests your audience.

Finally, don’t be boring. Any company can post a news release or a research report. It’s up to you to make it interesting and fit within your brand standards. While you want to be taken serious as a brand, you should also find ways that capture people’s attention, and sometimes that requires a little bit of fun.

If you enjoyed this you may also want to read:

You are What You Read

Social Clutter or Social Clarity?

Content Curation: What Does it Take To Be Successful?

Is Motivation the Key to Success?

Social influence matters! No, it doesn’t!

World-Class social practices for B2B companies

What’s your “I” in social media?

Your Game Plan: Focus on Fans

There’s a lot to be said for comparing social media strategies these days and supporting your favorite team in sports. In fact, much of the reason sports teams do so well in using social media is that they understand the value of a loyal following. They also understand the value of winning, and one way of viewing how you can help your clients succeed is to get them into a sports mentality.

In fact, one thing Facebook got right early on was allowing people to be “fans” of brand pages. It’s a concept I think they should have kept rather than replace with the “Like” feature. Like a team in sports, companies don’t want people to “like” them, they want fans who defend them in a crisis, support them when new products are announced, and who constantly sing the praises (not literally, but employee bands still seem popular) of a company when they perform well.

Here are ways to start making fans out of your followers:

Find out where they want to talk with you: Prior to the rapid growth of social media customers more than likely relied on email from you to know what was happening. With so many choices now at their disposal, you need to decide how to best communicate with them. A customer who uses LinkedIn may not be on Twitter or Facebook while others still rely on email newsletters to know what is happening. As social CRM tools become more sophisticated you should be able to start understanding more about where your clients are learning about you and what type of information they want. If you need ideas here’s a relevant post from Eloqua on some new year’s resolutions for talking to your customers.

How are you attracting and keeping fans?

Actually talk with them: The worst thing you can do is ignore your fans. Living in Chicago it was easy for me to see this with the Blackhawks hockey team and how the fan base changed when ownership changed from father to son — and with that change you saw a huge momentum shift in support for the team.

Find your “off the field” captains: The captain on the playing field rallies the team and helps make key in-game decisions. There are also captains in the stands — the leaders of fan clubs who organize events, keep fans informed and become a key part of the organization. Finding the people online who can do the same for you is just as important and you and your team should embrace them, help them and learn from them. There are a number of ways to look at influence and I wrote about that before when I spoke about defining ROI.

Deliver on content: Just as a winning team in sports needs to field its best players in order to succeed, a good B2B marketing company will deliver content that wins. There are a number of ways companies can now do this via Twitter, a blog or research as some examples, and providing original and relevant content is key. As the concept of content marketing has grown it will continue to be important for most B2B companies.

Have a strategy: The best players don’t always win championships. Nearly every winning team has a smart leader who has a strategy. Don’t just think that doing all of the things above will instantly gain you the following you want. I encourage you to think about what you want to accomplish, how you plan to achieve it and how does it fit with the overall strategy of the business. If you need to get better at developing a strategy one suggested I made earlier was to start playing more games.

While we encourage you to start thinking more like a sports team, please don’t share your favorite team with us in the comments — we don’t want to divide our readership. But we do want you to be fans of our blog and we hope you subscribe to us via email or follow us on Twitter.

If you enjoyed this you may also enjoy reading:

Getting Your Degree in Business Acumen

You are What You Read

Is Motivation the Key to Success?

2012: No Predictions, Just Actions

Everyone seems to have dusted off their crystal balls the past few weeks as the predictions for social media in 2012 are plentiful. I  stopped reading them. There are only a handful of people who are making predictions that I would trust, and after seeing so many most are not taking into account the current economic climate and the themes are too repetitive.

Instead of adding to the overcrowded space of predictions I want to focus on actions. The path for next year is clearly lined with more questions than answers. So, what am I looking at in 2012, a year clouded with economic uncertainty and promises for social media nirvana? Here’s a rundown of what’s on my agenda and questions you may need to ask yourself:

What's ahead for you in 2012?

  • Digital Content: We’re doing a lot more with digital content on our website and that will continue. What we’ve learned from the past few years of doing social media is that we have become our own media aggregator with original content that cannot be captured anywhere else. Whether it’s our blog, our online magazine, our media room or our education center, various stakeholders look to us for content and we will continue to drive more of that next year. What are your plans for digital content in 2012? Have you developed an editorial calendar? Do you have an editorial team?
  • Mobile: This was a great year for us and using mobile devices as we expanded our iPhone/iPad offering to the Android and Blackberry. In addition, we introduced an app specifically for our annual Global Financial Leadership event. Our research continues to show that users are moving more and more toward accessing our site from mobile devices and we know that consumers in general are digesting more information via their mobile devices. We will continue to enhance our mobile strategy in 2012 not only for distributing content through social platforms but also for giving people access to our information. How are you integrating mobile into your marketing strategy? What type of research do you have on people accessing your content from mobile devices?
  • Real-time matters: We’ve been using Twitter since 2008 and are one of the few verified brands. In our line of business, real-time news and information matters and for the markets and finance this won’t change. David Meerman Scott’s latest book on real-time marketing captures exactly how we approach this world of instant news. Where we’ll be looking at improving on what we’ve already accomplished is with our partnership with StockTwits. Messages about our products and services in the past year surged from 15,000 a month a year ago to more than 40,000 a month last year on their platform. Does real-time matter to you and your business? Are you targeting the right people on Twitter? Do you have a plan for how you can leverage StockTwits and the messages about your company?
  • Social networks: Facebook will still be a part of our plan and remains a great way to connect with customers in a more static environment. We can create very topical conversations around news and events on our page and that won’t change. We do know that Facebook fans are passionate about topics and the stream has changed our approach to this platform and has helped in creating more awareness about our offerings. We can’t ignore either of those facts. The challenge for 2012 will be to figure out how to use our Google+ page, but first I think Google needs to figure out Google+ for brands. I don’t see a lot of focus there yet from Google so do not plan to spend much time there. At the best right now it’s an experiment in SEO. How are you going to handle new technologies that come out in 2012? Do you have an assessment plan or team in place?
  • LinkedIn: I am a long-time fan of LinkedIn for the B2B market and am very excited about 2012. The company has made some great changes to the corporate pages managed by companies and added a much needed dashboard for group managers. Both of these additions have been much needed and further enhance LinkedIn as a social business platform. We continue to leverage the groups and the private feature has allowed us to create a 24/7 virtual focus group environment where we talk with our customers. We will putting more emphasis on LinkedIn in the coming year and finding ways to better improve what we do for the benefit of our customers. How do you leverage the groups on LinkedIn? Is your company page a place where potential employees view you as a thought leader? How do you get others in your organization involved in LinkedIn?
  • Video: We do have a YouTube presence, but our video strategy continues to focus on bringing people to our location. Our website continues to be populated with video content in a number of places and videos allow us to visually tell our story through our spokespeople, customers and thought leaders. We’ll continue to build content that includes video as a key component and through our social platforms bring this content to our followers. How are you leveraging videos? What is your distribution plan? Do you use video to complement content?
  • Metrics: I’ve always believed that in order to manage content you have to know what is happening. So metrics and measurement continue to play a very active part of what we do and this will continue to be the trend for us in 2012. We have a number of tools that we use that include both qualitative and quantitative metrics for us to better understand what we are doing. Are you measuring the right information? How are you making decisions based on your data?
  • Experiment: We did a lot in 2011 to try new things and apply new technologies. For example, we integrated Facebook comments onto our digital magazine, started using Google+ brand pages, launched our Weibo account in China, and made several changes to our LinkedIn company profile. In the coming year we will continue to do the same and experiment where it makes sense. New technologies and enhancements are now the norm and finding ways to leverage them will be a challenge. How do you stay on top of the latest information? Do you have a social team to review and plan for new initiatives? How do you prioritize what to implement and where to hold off?
  • A Social Business: In 2011, we continued to integrate our social media with our business. One of the best posts I’ve read on this topic is from David Armano and Demystifying Social Business. When I started using social media at the company in 2007 it very much was a silo channel for us, but in the past year we have made great strides as an organization to integrate it throughout the company. That will continue in 2012 with our sales force, marketing activities and with our employees. How do you communicate your social initiatives internally? Have you implemented any training or education programs? Do you have social guidelines for employees and if so when was the last time you reviewed it?

The coming year promises to be another exciting year for communicators. We will not only face a global economy that has numerous challenges for our businesses, but we are being inundated with new and various tools to communicate with our stakeholders. Finding the balance between those two will help determine success for each of our enterprises and I wish you all the best of luck.

If you enjoyed this you may also want to read:

Finally, a comprehensive B2B social media study

World-Class social practices for B2B companies

Are you ready for a real-time B2B world?

Using social networking sites in B2B businesses?

Social Clutter or Social Clarity?

The past year has been a year of more dashboards, more ways to measure, more apps, more blogs and just more of more. And it’s all happening in real-time. So how can we keep track of what we need to keep track of without losing track of things to track? In fact, there’s so much content that we now call wading through it all content curation.

What do you see? Clutter or potential content?

From our standpoint, we tend to have a lot of information to review and manage; check out our Twitter feed to get an idea of the vast array of topics we need to cover. In order to manage all that’s going on in our world here are my thoughts on what works for me:

  • Use a Social Platform: We use Hootsuite and StockTwits for similar and different reasons, but they both work well for us. The reality is there is just no way you can manage finding and reading the content you need and a social platform brings to you the items you need. In addition, most of these now offer a mobile app as well so that you can use while you are away from your desk. The mobile apps tend not to offer the same robust functionality of the desktop versions, but they are good enough to get the job done.
  • Review Content Regularly. While time consuming, reviewing the sources your following and reading the content will you keep your sources fresh. I often add sources based on news cycles and trends in order to help me stay on top of what’s happening right now that we need to know. This is probably the most difficult part of the process but also the most important. Twitter lists in my opinion are the best resource for you in order to do this. I also still rely on RSS feeds and Google Reader. By having both of these tools I can cover just about every news source and person that I need to follow.
  • Research Your Audience. Again, another obvious observation, but how often do you review a news outlet on Facebook to look for inspiration? Or do you take time to look at a few days worth of your most important Twitter followers?  Take the time to learn from them — what they post and how often — and decide how you need to make adjustments.
  • Make Time. Easier said than done, but if you take a little bit of time each day or week to review how you read and distribute content as well as the tools you (may) need you will get better at it. Once you find a routine it does get easier.

What makes this so difficult to control is the rate at which things are changing. If you think you can get into a routine with content curation you’re wrong. There is no cruise control, which makes this a very demanding art to master. What you need to really do is get organized. While my desk wouldn’t show my great organization skills, I have become quite good at organizing my online content.

Perhaps the best advice is to just make sure you step away and let the world go by at times. Don’t ever rule out taking time for yourself away from the digital domains where we tend to reside today. I’ve often found that some of my best ideas for online content and content management come from writing in my Moleskine while grabbing a coffee — or even dumping a box of my son’s Legos on the floor and taking a photo.

If you enjoyed this you may also want to read:

Don’t Overlook the Power of LinkedIn Groups

Content Curation: What Does it Take To Be Successful?

What’s your “I” in social media?

Why LinkedIn’s Company Pages Now Matter More

Page 1 of 8123456»...Last »

Bad Behavior has blocked 777 access attempts in the last 7 days.