I work in both business and consumer environments, or "BtoB" and "BtoC" as the industry lingo goes. And in the last few years I've added social media (aka "Web 2.0") to my professional services and personal interests.
While I certainly don't view social media as a panacea to all BtoB marketing challenges, I do see exciting opportunities and sound reasoning for leveraging these tools and technologies to improve market share, brand awareness and customer relationships.
Yet even though BtoB marketers are beginning to implement some interesting programs, they're still the exception... with the belief that social-media-is-a-consumer-application as the rule.
The challenge of this environment for marketers is not only adjusting to customers being in control of messages—it's learning what they want now that they're showing us (and telling us) who they really are, vs. our perceptions of them.
For instance, the deep-seated notion that business professionals act altogether differently than consumers? That's proving to be more fallacy than fact. The reality is that business professionals vie to be heard, and long to play a part in the product development process. Business professionals also prefer to hear the opinions and experiences of other professionals, and yearn to draw from their expertise.
Most compelling, business professionals, just like consumers, trust the opinions of fellow professionals--who've actually used the products and services--far more than those of the companies selling the offerings.
Ergo, one need not connect too many dots to realize social media qualifies on all these counts for business audiences.
But if innovation drives opportunity, which in turn fuels new profit
centers and lucrative new market segments, why do so many BtoB
marketers dismiss social media as merely a BtoC play? Moreover, if business professionals
automatically qualify as "engaged" around an expertise or practice
area—unlike fickle consumers easily lured by the latest fad—why aren't
more BtoB marketers engaging with them?
Perhaps they're still stuck in the mindset that Web 2.0 is child's play, not for the big leagues. So let's rectify that by first focusing on the business case for business marketers. (My next post will explore a bevy of specific initiatives that BtoB marketers can launch.) Here goes:
Communal (Career) Creatures Are We.
Our choice of career paths make us communal creatures by nature—as we seek out others who have similar roles and career interests. It's how we learn, grow and evaluate problems and opportunities that are unique to our industry or chosen career field. This is nothing new. Just take the "offline world" where we network all the time. In fact, entire industries like conferences, professional events and trade shows are, at their very core, built around the value proposition of networking with professionals who share similar interests.
Social media not only makes this less expensive and easier, it also opens up a world of new colleagues (one could say a new community) being there are no geographical boundaries and the cost-of-entry to use these tools is very low, and usually free.
WOM That Reduces Risk.
When consumers WOM about products it might be for a $.99 MP3 or $19.99 video game. But when professionals WOM, they're usually discussing business purchases that can range from a $900 software program to a $99,000 piece of construction equipment. These purchases are far costlier and thus, carry more risk.
Make no mistake about it, professionals are searching online to understand--from a source that is not employed by the company selling the product--how others have either found joy or discontent in the product before taking the purchase plunge themselves. So it's in your best interests to not only create exemplary products, services and experiences but to also provide forums, platforms and idea exchanges where those customers and prospects can discuss their preferences and swap experiences... and, hopefully, discuss your products while so doing.
Don't think Evangelists. Think Credible Recommendations.
If you've ever spent time with consumer marketers who are using social media, you've likely heard the world "evangelists" as many companies are looking for people to promote ("evangelize") their product to their friends and online networks. We've seen this with fan sites for bands, tech products, apparel and more. But with a business audience, what you're really seeking are credible, third-party recommendations.
Where consumer feedback can be dismissed as lacking
validity, input from business professionals is inherently more credible since the forums, blogs and platforms they're participating in are usually focused on business. After all, these professionals are viewed as
possessing some level of knowledge on the subject matter they discuss since they work in the field.
To Claim First-Mover Advantages, One Must Get A Move On.
Businesses are fanatical over first-mover and competitive advantages, and for good reason. These opportunities are few and far between. So if other business marketers are sitting on the social media bench, it means the time is nigh.
Moreover, with social media edging more mainstream and a looming economic crisis forcing companies to slash their budgets, it's likely social media will become more attractive to marketers since it's cost-effective. So these first-mover advantages are going quick.
Giving More Legs To Thought Leadership Initiatives.
In BtoB marketing, being a thought leader is pivotal in many service-oriented businesses. Your smarts, wisdom and ideas--how unique they are and how effective when put into practice--are your company's differentiation... and many times, your company's best marketing programs.
Social media tools afford you the ability to engage people around your ideas and offer a new vehicle to re-purpose and repackage so much of the thought leadership you've amassed--as well as the ability to migrate the knowledge into new formats, like videos, blog posts, podcasts, Wikis and others. What's more? Now professionals can "consume" your content in new ways by discussing it with others which not only gives you a platform to spread your thought leadership, but a vehicle for clarifying, strengthening and improving your point of view.
Thus, the big takeaway for BtoB marketers is this: in a world of Facebook fan pages, MySpace madness and online videos of lipsynching teenagers, you absolutely, positively shouldn't relegate social media to the consumer corner. Because the BtoB opportunities in Web 2.0 are just as remarkable (if not more so).
So get into the Web. 2.0 World, plenty of pearls await you.
Next up, I'll explore a bevy of specific BtoB social media initiatives--you might just be surprised at the breadth of tools and weighty programs available to you.
PS: Whatever social media tools and programs are prime for your marketing mix, don't forget the upfront strategic and planning work. No one plans to fail, but when romanced by a new technology marketers can too often fail to adequately plan. On that note, a checklist of planning points is here.
