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Building the B2B business case for Social Media




                 10 BENEFITS
Make no mistake:
”Social” Media is
Business media.
Yet many B2B are
not convinvced that
     these game-
   changing media
    demonstrate
significant benefits
 for their business
  sectors & unique
      challenges
This attitude is
 costing them
  Potential profits,
  busniness leads,
industry relevence...
and market share to
their smarter online
    competitors
10
benefits




          The need of the hour?
A better understanding of the tremendous B2B
         business case for social media
B2B branding is High Touch and is

       #1                 mainly established through directly
                           interfacing with customers and
                                 relationship building
Extend Branding And         (vs. Ads & campaigns in B2C)
Relationship building
       Efforts          Social Media provides an array of new touch
                        points for B2B brand executives to interact
                        with prospects and customers.

                        • Due to two-way, real time attributes, social
                          medial tools enable a highly personla
                          branding experience for B2B customers and
                          prospects.
                        • The convenience if social medai allows more
                          B2B executives to build relationships with
                          current and prospective buyers...and
                          building relationships is core to all B2B
                          marketing and sales efforts.
B2B professionals actively
                     network online to find jobs,
                   share knowledge, solve problems

    #2             & build their network of industry
                                contacts

                   • B2Bs can build professional communities
Tap professional     centered on knowledge sharing &
                     reducing challenges that professionals face
 communities         every day – AND leverage these
                     interactions to build brand, reputation and
                     prospects

                   • Company’s can participate in existing
                     communities and networks to share
                     insights and help solve problems

                   • Through the value of thier community
                     participation, Companies can increase
                     their standing and improve the potential
                     of positive third party referrals
The B2B market seems smaller
     than the B2C market thus,
 expanding reach is imperative for                        #3
   recognizing and creating new
       business opportunities
                                                       Grow Reach
• With social media, companies now have access to a
  world of new markets...and new business leads

• Through monitoring online conversations, B2B
  executives can learn of changing needs and
  emerging opportunities that can fuel new offerings
  and practice areas to drive new revenues for the
  organiuzation

• With their newfound reach, B2Bs can also identify
  companies with which to establish revenue
  generating partnerships
B2B relies on thought
                       leadership to communicate,
      #4                 differentiate and position
                               their offerings
  Support Thought
                      • Through text, audia and video, social media
Leadership Programs     gives thought leaders a dynamic new
                        platform to demonstrate their expertise
                        and gain exposure

                      • Companies can create rich, in-depth
                        conversations, professional forums and
                        knowledge exchanges around thier unique
                        ideas, articles, perspectives, reports and
                        methodologies

                      • Can ”rejuvenate and repackage” their
                        existing thought-leadership content in new
                        ways for these new channels – and thereby
                        maximize the ROI from existing content
B2B buyers are heavily influenced by
     third-party feedback in their
    purchasing decisions – both to
 identify solutions and to limit risk to
                                                    #5
          their organizations
                                               Increase Third-Party
                                                    Influencers
                                                 (Word Of Mouth)
• Due to providing objective, third party
  experiences and feedback, favorable WOM
  (word-of-mouth) reduces buyer-side risk of
  big-ticket B2B purchases

• Programs implemented through social
  media help to facilitate brand advocates
  that can help sell B2B offerings through
  spreading positive mentions and
  endorsements
Unlike impulse-driven, low-risk
                   purchases, B2B sales cycles are far

  #6                longer, with buyers doing lots of
                     research and reference checks

                • Educating prospects through out the
Dramatically      purchasing cycle is a core role of B2B
shorten sales     marketers, with social media
                  providing them tremendous new
   cycles         outlets for knowledge sharing that can
                  facilitate faster sales cycle
                • Social media tools and paltforms
                  provides new ways to communicate
                  information and answer buyer
                  questions about their offerings much
                  more quickly
                • In providing two-way
                  communications, companies not only
                  inform prospects, but also build trust
                  and credibility that can work to
                  increase sales in shorter periods.
Social Media is the MOST
  cost-effective media. Ever.
                                                   #7
• While social media requires an
  investment of budget and professional          Decrease
  resources, it’s nowhere near the cost       Marketing Spends
  associated with other media

• Even in tough economic climates, B2Bs
  can afford social media programs and
  use these initiatives to gain competitive
  advantage

• As the cost of each sale acquired
  through social media is significantly
  lower, ROI and profit margins can
  increase
B2B offerings are often very

  #8                 complex and necessitate a
                  learning curve for buyers, both
                     pre – and – post purchase

  Minimize
Complexity of   • The information exchanged, and
                  relationships built, through these social
  Services        channels helps to decrease confusion and, in
                  turn, increase the purchasing rates of B2B
                  products and services

                • Informing and helping prospective buyers
                  through social media can help position B2Bs
                  as trusted advisors and decrease the
                  concerns associated with high learning
                  curves
Companies must identify ways to
  strengthen and improve their
 competitive advantage – of both
                                                          #9
their offerings and their marketing
                                                   Creating competitive &
             strategies                             sustaining advantage

• B2Bs must remain relevant with existing &
  potential clients - they must be active in the
  media that their markets deem relevant and
  actively uses
• Since many B2Bs are slower to adopt social
  media, many companies can leverage first-
  mover advantages within their industries
• Due to the insights gleaned through
  monitoring online conversations, companies
  can identify new offerings and needed
  improvements around which to strengthen
  their competitive advantage
Due to smalller market size
and higher-priced offerings,
   the value of each B2B
 customer is much greater
                                         #10
    than B2C customers
                                          Intensify
                                         CRM efforts
• Social media technologies enable
  new CRM methods for B2Bs to
  improve their customer
  communications, extend customer
  service and share knowledge

• Social media tools and programs,
  B2Bs can not only inform but involve
  clients in every step of the brand
  development process and in return,
  deepen these relationships
What to learn more about
Social Media Marketing
       for B2Bs?

 Contact Details
 Siddharth Hegde: Founder & Director
 Email: siddharth.hegde@ethinos.com
 Mobile: +91 98202 17252
 Website: www.ethinos.com

     www.ethinos.com/blog
     @siddhegde
     www.facebook.com/EthinosDigital

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The Case for Social Media in B2B Companies

  • 1. Building the B2B business case for Social Media 10 BENEFITS
  • 2. Make no mistake: ”Social” Media is Business media.
  • 3. Yet many B2B are not convinvced that these game- changing media demonstrate significant benefits for their business sectors & unique challenges
  • 4. This attitude is costing them Potential profits, busniness leads, industry relevence... and market share to their smarter online competitors
  • 5. 10 benefits The need of the hour? A better understanding of the tremendous B2B business case for social media
  • 6. B2B branding is High Touch and is #1 mainly established through directly interfacing with customers and relationship building Extend Branding And (vs. Ads & campaigns in B2C) Relationship building Efforts Social Media provides an array of new touch points for B2B brand executives to interact with prospects and customers. • Due to two-way, real time attributes, social medial tools enable a highly personla branding experience for B2B customers and prospects. • The convenience if social medai allows more B2B executives to build relationships with current and prospective buyers...and building relationships is core to all B2B marketing and sales efforts.
  • 7. B2B professionals actively network online to find jobs, share knowledge, solve problems #2 & build their network of industry contacts • B2Bs can build professional communities Tap professional centered on knowledge sharing & reducing challenges that professionals face communities every day – AND leverage these interactions to build brand, reputation and prospects • Company’s can participate in existing communities and networks to share insights and help solve problems • Through the value of thier community participation, Companies can increase their standing and improve the potential of positive third party referrals
  • 8. The B2B market seems smaller than the B2C market thus, expanding reach is imperative for #3 recognizing and creating new business opportunities Grow Reach • With social media, companies now have access to a world of new markets...and new business leads • Through monitoring online conversations, B2B executives can learn of changing needs and emerging opportunities that can fuel new offerings and practice areas to drive new revenues for the organiuzation • With their newfound reach, B2Bs can also identify companies with which to establish revenue generating partnerships
  • 9. B2B relies on thought leadership to communicate, #4 differentiate and position their offerings Support Thought • Through text, audia and video, social media Leadership Programs gives thought leaders a dynamic new platform to demonstrate their expertise and gain exposure • Companies can create rich, in-depth conversations, professional forums and knowledge exchanges around thier unique ideas, articles, perspectives, reports and methodologies • Can ”rejuvenate and repackage” their existing thought-leadership content in new ways for these new channels – and thereby maximize the ROI from existing content
  • 10. B2B buyers are heavily influenced by third-party feedback in their purchasing decisions – both to identify solutions and to limit risk to #5 their organizations Increase Third-Party Influencers (Word Of Mouth) • Due to providing objective, third party experiences and feedback, favorable WOM (word-of-mouth) reduces buyer-side risk of big-ticket B2B purchases • Programs implemented through social media help to facilitate brand advocates that can help sell B2B offerings through spreading positive mentions and endorsements
  • 11. Unlike impulse-driven, low-risk purchases, B2B sales cycles are far #6 longer, with buyers doing lots of research and reference checks • Educating prospects through out the Dramatically purchasing cycle is a core role of B2B shorten sales marketers, with social media providing them tremendous new cycles outlets for knowledge sharing that can facilitate faster sales cycle • Social media tools and paltforms provides new ways to communicate information and answer buyer questions about their offerings much more quickly • In providing two-way communications, companies not only inform prospects, but also build trust and credibility that can work to increase sales in shorter periods.
  • 12. Social Media is the MOST cost-effective media. Ever. #7 • While social media requires an investment of budget and professional Decrease resources, it’s nowhere near the cost Marketing Spends associated with other media • Even in tough economic climates, B2Bs can afford social media programs and use these initiatives to gain competitive advantage • As the cost of each sale acquired through social media is significantly lower, ROI and profit margins can increase
  • 13. B2B offerings are often very #8 complex and necessitate a learning curve for buyers, both pre – and – post purchase Minimize Complexity of • The information exchanged, and relationships built, through these social Services channels helps to decrease confusion and, in turn, increase the purchasing rates of B2B products and services • Informing and helping prospective buyers through social media can help position B2Bs as trusted advisors and decrease the concerns associated with high learning curves
  • 14. Companies must identify ways to strengthen and improve their competitive advantage – of both #9 their offerings and their marketing Creating competitive & strategies sustaining advantage • B2Bs must remain relevant with existing & potential clients - they must be active in the media that their markets deem relevant and actively uses • Since many B2Bs are slower to adopt social media, many companies can leverage first- mover advantages within their industries • Due to the insights gleaned through monitoring online conversations, companies can identify new offerings and needed improvements around which to strengthen their competitive advantage
  • 15. Due to smalller market size and higher-priced offerings, the value of each B2B customer is much greater #10 than B2C customers Intensify CRM efforts • Social media technologies enable new CRM methods for B2Bs to improve their customer communications, extend customer service and share knowledge • Social media tools and programs, B2Bs can not only inform but involve clients in every step of the brand development process and in return, deepen these relationships
  • 16. What to learn more about Social Media Marketing for B2Bs? Contact Details Siddharth Hegde: Founder & Director Email: siddharth.hegde@ethinos.com Mobile: +91 98202 17252 Website: www.ethinos.com www.ethinos.com/blog @siddhegde www.facebook.com/EthinosDigital