Building the B2B Business Case For Social Media10key benefitsChristina “CK” Kerley

Over 90% of B2B buyers are already using social media tools, often to research and execute purchases.Forrester Research (Feb. 2009)©2009 Christina Kerley/ckEpiphanyAll Rights Reserved

Yet many B2Bs are not convinced that these game-changing media produce significantbenefits for their business sectors and unique challenges.©2009 Christina Kerley/ckEpiphanyAll Rights Reserved

But that mindset is costing thempotential profits, business leads, industry relevance… and market share to their savvy competitors.©2009 Christina Kerley/ckEpiphanyAll Rights Reserved

The Solution?Better understanding of the tremendous B2B business case for social media.10key benefits©2009 Christina Kerley/ckEpiphanyAll Rights Reserved

B2B Branding is “High Touch” and is mainly established through directly interfacing with customers and relationship building.(vs. ads and campaigns)#1ExtendBrandingEffortsSocial 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 media tools enable a highly personal brand experience for B2B customers and prospects.The convenience of social media allows more B2B executives within respective organizations to build relationships with current and prospective buyers… and participate in building the brand.

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 media tools enable a highly personal brand experience for B2B customers and prospects.

The convenience of social media allows more B2B executives within respective organizations to build relationships with current and prospective buyers… and participate in building the brand.

The B2B market is much smaller than the B2C market and thus, expanding reach is imperative for identifying and generating new business leads.#2ExpandReachWith 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 organization.With their newfound reach, B2Bs can also identify companies with which to establish revenue-generating partnerships.

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 organization.

With their newfound reach, B2Bs can also identify companies with which to establish revenue-generating partnerships.

B2B Professionals actively network online to share knowledge, solve problems and build their network of industry contacts.#3Tap Professional CommunitiesB2Bs can build professional communities centered on increasing knowledge share and reducing challenges that professionals face every day—and leverage these interactions to build brand, reputation and prospects.B2Bs can participate in existing communities and network with members to share insights and help solve problems. Through the value of their community participation, B2Bs can increase their standing and improve the potential of positive third-party referrals.

B2Bs can build professional communities centered on increasing knowledge share and reducing challenges that professionals face every day—and leverage these interactions to build brand, reputation and prospects.

B2Bs can participate in existing communities and network with members to share insights and help solve problems.

Through the value of their community participation, B2Bs can increase their standing and improve the potential of positive third-party referrals.

B2B buyers are heavily influenced by third-party feedback in their purchasing decisions—both to identify solutions and to limit risk to their organizations.#4IncreaseThird-PartyInfluencers(WOM)Due to providing objective, third-party experiences and feedback, favorable WOM (word-of-mouth) reduces buyer-side risk for 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.

Due to providing objective, third-party experiences and feedback, favorable WOM (word-of-mouth) reduces buyer-side risk for 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.

B2Bs rely on thought leadership to communicate, differentiate and position their offerings.#5BolsterThoughtLeadershipProgramsThrough text, audio and video, social media gives thought leaders a dynamic new platform to demonstrate their expertise and gain exposure. B2Bs can create rich, in-depth conversations, forums and knowledge exchanges around their unique ideas, articles, perspectives, reports and methodologies.

Through text, audio and video, social media gives thought leaders a dynamic new platform to demonstrate their expertise and gain exposure.

B2Bs can create rich, in-depth conversations, forums and knowledge exchanges around their unique ideas, articles, perspectives, reports and methodologies.

Social media are the most cost-effective media. Ever.#6Reduce Marketing SpendWhile social media requires an investment of budget and professional resources, it's nowhere near the costs 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 reduced, ROI and profit margins can increase.

While social media requires an investment of budget and professional resources, it's nowhere near the costs 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 reduced, ROI and profit margins can increase.

Unlike impulse-driven, low-risk purchases, B2B sales cycles are far longer, with buyers conducting a lot of upfront research.#7Educating prospects throughout the purchasing cycle is a core role of B2B marketers, with social media providing them tremendous new outlets for knowledge sharingthat can facilitate faster sales cycles.Social media tools and platforms provide B2Bs with new ways to communicate information and answer buyer questions about their offerings much more quickly. In providing two-way communications, B2Bs not only inform prospects, but also build trust and credibility that can work to increase sales in shorter periods.DecreaseSales Cycles

Educating prospects throughout the purchasing cycle is a core role of B2B marketers, with social media providing them tremendous new outlets for knowledge sharingthat can facilitate faster sales cycles.

Social media tools and platforms provide B2Bs with new ways to communicate information and answer buyer questions about their offerings much more quickly.

In providing two-way communications, B2Bs not only inform prospects, but also build trust and credibility that can work to increase sales in shorter periods.

B2Bs must continually identify ways to strengthen and improve their competitive advantage—both in their offerings and their marketing strategies.#8GainCompetitiveAdvantageB2Bs must remain relevant with existing and new customers and thus, they must be active in the media that their market deems 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.

B2Bs must remain relevant with existing and new customers and thus, they must be active in the media that their market deems 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.

B2B offerings are often very complex and necessitate a learning curve for buyers, both pre- and post-purchase. #9Lessen Complexityof OfferingsThe information exchanged, and relationships built, through these conversational media help to decrease confusion and, in turn, increase the purchasing rates of B2B products, services and offerings. Informing and helping prospective buyers through social media channels and programs can help position B2Bs astrusted advisors and decrease the concerns associated with high learning curves.

The information exchanged, and relationships built, through these conversational media help to decrease confusion and, in turn, increase the purchasing rates of B2B products, services and offerings.

Informing and helping prospective buyers through social media channels and programs can help position B2Bs astrusted advisors and decrease the concerns associated with high learning curves.

Due to a smaller market size and higher-priced offerings, the value of each B2B customer is much greater than B2C customers.#10StrengthenCRMEffortsSocial media technologies enable new CRM methods for B2Bs to improve their customer communications, extend customer service and provide knowledge share.Through social media tools and programs, B2Bs can not only inform but involve their customers in every step of the brand development process and in return, deepen these relationships and retain customers.

Social media technologies enable new CRM methods for B2Bs to improve their customer communications, extend customer service and provide knowledge share.

Through social media tools and programs, B2Bs can not only inform but involve their customers in every step of the brand development process and in return, deepen these relationships and retain customers.

Want to learn more about social media marketing for your B2B company?Try these additional resources…Learn More

The “Share Economy” for B2B MarketersThis new era and its avid exchanging of ideas—how freely they're traded, how dynamically they spread, and the new ideas they inspire—is most aptly coined "The Share Economy."What does this mean for B2B marketers? Social media is changing the way they do business, because they now have new voices in the business process. And while most age-old marketing principles still apply, many of the practices do not. Download the PDF here©2009 Christina Kerley/ckEpiphanyAll Rights Reserved

In this new age of content, community and conversations, businesses are provided with much opportunity and many rewards... but not without their share of rules for avoiding marketing misfires and unnecessary risks.This "monopoly-inspired" 10-part series, covers 10 (essential!) rules that no marketer should pass the “Web 2.0 Go” without. Click here for the 10-part series archive.10 (Essential!) Web 2.0 Marketing Rules©2009 Christina Kerley/ckEpiphanyAll Rights Reserved

There's an extensive amount of upfront work involved in planning, launching and maintaining your social media presence and programs. And how well you plan directly effects your level of success.This checklist provides a comprehensive list of questions that can serve as a helpful planning guide for companies starting out in social media.Click here for the checklist.Social Media Planning Checklist©2009 Christina Kerley/ckEpiphanyAll Rights Reserved

Why should a company have a social media presence? What are the true gains in going to the time and trouble of launching and maintaining a social media presence?There isn’t one answer to this riddle. There are many. Ranging from branding, sales and research to relationship-building, innovation, customer service and many more….Click here for the post.Reasons for A Social Media Presence©2009 Christina Kerley/ckEpiphanyAll Rights Reserved

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