FollowFridays 2011 Session 2: Social Media strategy for suits.

Social media strategy for suits

AdNerdsThe Radically Digital Division of Proximity BBDO

Social media strategy for suitsThe differences between B2B and B2CDoes branding add true value in a B2B context?How do social media ﬁt in business communicationswhere niche marketing tactics are prevalent?

Social media strategy for suits

73% of CEOs don’t believemarketers drive demand for products and services Fournaise Marketing Group, june 2011

The differences between B2C and B2B

in B2B, the default is ‘safe marketing solutions’

The money you spend is lost unless you earn it back

You need permission

People involved in technology buying decisions by purchase amount 1-3 4-8 9-15 >15 $25,000-$99,999$100,000-$999,999More than $1 million 0 15 30 45 60 Source: Marketing Sherpa/TechWeb

Business marketing campaigns need to be considered in terms of months, often years

High degree of complexity

By their very nature, business offerings are niche offerings

Business buying decisions are more likely to be a commitment

The similarities between B2C and B2B

We love brands (or not) because of the irrational

Does branding add true value in a B2B context?

Copyright 2009 by Kelley School of Business, Indiana University. For reprints, call HBS Publishing at (800) 545-7685. BH 319 Business Horizons (2009) 52, 159—166 www.elsevier.com/locate/bushor B2B branding: A financial burden for shareholders? Lars Ohnemus Copenhagen Business School, Porcelænshaven, 2000 Copenhagen F, Denmark KEYWORDS Abstract Is branding an effective tool for generating shareholder wealth for B2B branding; companies that are active in a business-to-business environment? Or, do other factors Financial performance; such as innovation and manufacturing efficiency–—or the lack thereof–—create or Return on branding; destroy shareholder wealth? Based on an examination of almost 1,700 companies Market orientation listed either on the United States or European stock exchanges, this study reveals this Used%strategically,%BtoB%companies%with%a% crucial relationship could be described as a W-shaped curve with five distinctive phases, depending on the strategic branding position of the company. Used strategically, business-to-business (B2B) companies with a balanced corporate brand strategy balanced%corporate%brand%strategy%generally% generally yield a return to their shareholders that is 5%-7% higher. It is therefore vital that key executives, including the board of directors, systematically assess and yield%a%return%to%their%shareholders%that%is% monitor the strategic branding position of their company and how their branding investments are performing against key competitors. This study reveals that shareholders should insist on systematic performance feedback from the corporation 5%:7%%higher. regarding all key items in the balance sheet–—including branding. As disclosed herein, very few of the companies analyzed possessed an optimal balance between branding and financial performance. # 2008 Kelley School of Business, Indiana University. All rights reserved. 1. Why don’t shareholders show nies in the B2B segment. In many cases, business-to- interest in branding? consumer (B2C) activities have been the focus of research, while industrial branding has been treated

Brands are thingswe buy instead of products just as soon as we can afford to. Scot McKee

What do you do?

How do social media ﬁt in business communications where niche marketing tactics are prevalent?

EFFECTIVELY COMMUNICATING YOUR BRAND VALUES

FOR BUSINESS

LED LIGHTING

LED LIGHTING "Making energy-wasting traditional lighting technologies obsoletethrough the use of energy-efﬁcient, environmentally friendly LED lighting."

If we have values and messages and other brand assets thatreﬂect the prospects’ own view ofthe world, why wouldn’t they want to buy from us and enjoy the experience of doing so? Scott McKee, Managing Director at Birddog Ltd., top 20 B2B marketing agency

BUILDING A COLLECTIVE COMPANY BRAIN

A simpliﬁed B2B buying cycle BACK THEN 1 2 3 €has need research short list go to bid make a possible of vendors decision solutions

A simpliﬁed B2B buying cycle NOWADAYS 1 2 3 €has need research short list go to bid make a possible of vendors decision solutions

Without face-to-face contactwith prospective buyers earlyin the purchase process, EMC was losing an important source of information about prospective customers. Senior Vice President of Global Marketing, William Jenkins, EMC2

Two main drivers of this trend People want to buy, but they don’t want to be sold to. Benjamin Ellis, previously worked at or for Siemens, Cisco, Juniper, Microsoft and IBM

Two main drivers of this trend93% of B2B buyers use search to begin the buying process Based on research from Marketo

In the past, our accountmanagers had all the knowledge, now a rep has to become ageneralist, and our hope is that they are able to ask the right questions. Senior Vice President of Global Marketing, William Jenkins, EMC2

EMC One, online employee network since 2007 was the start... 13.000 members 4.2 million pages EMC |ONE online network of EMC employees 22.000 UV/month 2007 ﬁgures

Internal Education 13.000 30.000members members = 65% of all employees

- community sectie op site met howto videos, info, ..

- emc world event > twitter, ﬂickr, facebook, live streaming, the cube + linkedIn group

- live product launch: 8000 manMultiple Launch Events Symmetrix Launch Eventaverage of 150 clients - ﬂew in 8000 concurrent viewers - 1,5h live stream & chat

KEEPING A FINGER ON THE PULSE

eedback best practices / inspir dem o’s / product f ation clients upp ortcustomer s code examples ers channel partn

If we can make our customers more successful than ourcompetitor’s customers, then the latter are going to come to us. Mark Yolton, SVP at SAP

4 C’s EMC2 and SAP had to decide on Closed Content ControlCommunity

What Content do you want? eedback b Custoctices / t Helpest pramers geinspreation (Co)-develop’s / procts ct f rvices dem o Produ du & Se Mo ir Value & Thought LeadersGet Control of Conversations clients hip Sup port Custom er Service & Education

Where will you host your Community? On top of existing On existing niche Own community social networks communities via social software thought leadership thought leadership thought leadershipget control of conversations help them get more value get control of conversations help them get more value educate help them get more value educate customer service co-develop

Will it be Closed or not? Closed Open Network Networkhelp them get more value thought leadership educate get control of conversations customer service educate co-develop customer service

Who will be in Control? Own Channel CommunityEmployee(s) Partners Members

BUILDING THOUGHT LEADERSHIP

5 Types of Sales (or Account) Managers Relationship Hard Builders Workers Reactive Lone Problem Wolves Solvers Challengers

Challengers win by pushing customers to think differently, using insight to create constructive tension in the sale.Relationship Builders, on the other hand, focus on relieving tension by giving in to the customers every demand.OF Where ‘challengers’ push customers outside their comfort zone, ‘relationship builders’ are focused on being accepted into it.

5 Types of Sales (or Account) Manager Relationship Hard Builders Workers Reactive Lone Problem Wolves Solvers Challengers n= 6000

5 Types of Sales (or Account) Manager tar repson ly 7% of s Relationship Hard Builders Workers Reactive Lone Problem on average 40% Wolves of star reps Solvers Challengers n= 6000

Be a thought provoker, not a thought leader.Jeff Molander, Molander and Associates & author of “Off the Hook Marketing”

PAMPERING THE MAIN INFLUENCER

1 year after the community’s rollout:E2E members on average requested 6 times more sample chips across 3 times as many product areas as non-members

SERVING THE WHOLE FOOD CHAIN

I haven’t met anybody who feels they have their organization completely aligned with this revolution. John Hayes, CMO American Express

1.5 million people liked this effort among all retailersthat accepted our card on that day, sales increased 9 percent year on year Among small businesses that participated in Small Business Saturday, sales rose 28 percent

The best kind of marketing is themarketing that really helps your customers out. Horse sense

SAFEGUARDING YOUR COMPANY’S FUTURE

In a highly commoditizedbusiness, perhaps our largest differentiator is our people William Barret, Global Director of Online Strategy at Deloitte

TOTALLY IRRATIONAL BRANDING

Alex Trebek, the f o on US TV Luc Appermont 4 the States since 196 known in Belgium as swer- “Waagstuk”u nique an tion and-ques t forma ward illion dai ly Daytime Emmy A ame/ 9m for Outstanding G tion viewers Audience Participa

Ken Jennings Brad Rutter75 wins in a row won $3.455.102

Paid Media and its immediate resultsJeopardy commercials Book Documentary Press Coverage massive Stephen Baker a NOVA documentary Worldwide press commercial wrote a book & & a TED presentation coverage in major attention starting shared it in pieces, reached a tech & newspapers & tech months in advance day by day ‘science’ audience magazines

Owned and Earned Media go humans 21% jokes 46% 33% Watson goFacebook & Twitter YouTube IBM People involved Tweets daily updates (& +30 movies and 1000s of blog, FB & 35.000 tweetsstill updating) to an over 1 million Twitter posts, created before & during the audience of about views. New movies by info shared with show, still multiple 50.000 people added regularly. employees. tweets per day

The long term resultsImpact on Branding Recruiting Sparked Ideas i Inquiries The “A Smarter IBM, yearly looking for Existing B2B clients Many corporations,Planet” concept has many engineers , are sparked with new universities anda higher awareness IT’ers etc has a full ideas, ready to take government agencies and credibility. pipeline ever since on the next step. requested info.

Imagine having the ability to take in all the information around a patients medical care. Dr Sam Nussbaum, Chief Medical Ofﬁcer, WellPoint

ConclusionsBranding in B2B does add value.

ConclusionsBranding in B2B does add value. Communities are a better alternative for sales people

Conclusions Branding in B2B does add value.Challengeunities erfoa better ionship builders Comm rs outp are rm relat alternative for sales people

Conclusions Branding in B2B does add value. There’s always deﬁn itely a leship build oChallengeunitieiaerfoa better talternative gers reason to Comm rs outp consider socs areerm relationast one forosales people l m dia d

Will you still have a job in marketing of the future?

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