Social media strategy and plan for an auto components b2 b business segment emarketing insight


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Social media strategy and plan for an auto components b2 b business segment emarketing insight

  1. 1. eMarketing Insight Social media strategy and plan for an auto components B2B business segment (sample) ..1
  2. 2. The various processes that can eMarketing Insight benefit from social media adoption Key Processes Rationale Social Media Concepts in use Influencing the buying B2B buyers seek more information and try to get most value- •Lead behavior returning purchase. Social media strategies could provide this Generation information at ease. •Web 2.0 •Blogs Customer relationship Capture customer feedback, tracking customer’s social habits •Web 3.0 management •Social Graph •Forums •Social Competition management Monitoring Competitors’ behavior in social media space networking •Social news •Emotional Internal Knowledge Employee engagement with the customers’ voice and internal Marketing management knowledge sharing •Inbound Marketing •Outbound Capturing emerging market So that we don’t miss on any emerging marketing opportunity Marketing opportunities for innovative auto-component development. •eNewsletter •cross-media marketing 2
  3. 3. Influencing the buying behavior If you want to sell Johnny Green what Johnny Green buys, You have to see Johnny Green through Johnny Green’s eyes eMarketing Insight Buying Target Buying Social Media Strategies Process Centre Roles* Pre-buying •Initiator •Share company content on various company owned social media outposts (e.g. based on Auto- Stage •Gatekeeper expo) (Brand •Create a weekly content focused eNewsletter Awareness) •Advertise content in targeted online channels( i.e. Auto-industry newsletters, networks ) •YouTube page •A Facebook business page as a way to both communicate with realtor clients and to build brand awareness. Facebook fan pages are today’s direct mail. •Create blog editorial calendar every month to enforce daily posting and thorough but varied topic coverage •Create a dedicated area on the website to house content resources Recognize Need •Initiator •Identify the 3 most prevalent places where your customers (the respective Buying Roles) spend •Influencer time. This may be: a) Popular Automotive Forums b) Auto-Industry blogs Evaluate •Buyer c) LinkedIn. Options •User •Influencer •Seek out the 3 most prevalent channels through which customer seek information for ex. a) Website Eliminate •User b) Professional N/ws online & offline Doubts •Buyer •Influencer • Following the Blogs of these Buying roles to understand their interest areas and psychology to make a more effective marketing and sales effort customized accordingly Decide •Decider •Participating in Final Consumer auto evaluation forums like •Influencer 3 *source: Webster, F.E, and Wind, Y., organizational buying behavior, Pretence Hall, New Jersey, 1972
  4. 4. Customer relationship management Social Media Strategies Activity eMarketing Insight Capture customer Experience Providing social media platforms for interaction between customer and R&D people in our company like: • B2B Automotive Blogs •Automotive discussion forums etc. Providing social media feedback platforms like: •Products evaluation forums (for registered users only) Customer Loyalty Programs Building loyalty communities on difference social medias like facebook followers, twitter followers etc. Listening Initiatives Online listening initiative to help us start pinpointing conversations and communities your customers and prospects are involved in. Competition management Social Media Strategies Monitoring competitors Social Media Understanding what the competitors are doing in social media space so that we are able activities to position our marketing efforts better. Internal Knowledge management Social Media Strategies Knowledge sharing & collaboration Promoting Internal social communities of employee like: •Employee Blogging •CEO Blogs •Twitter as a broadcasting medium for internal newletters •Daily discussions forums for employees 4
  5. 5. Capturing market opportunities eMarketing Insight “You’re missing out if you’re not listening and participating.” Capturing emerging market Social Media Strategies opportunities New Product development Participating in different social forums to understand the changing needs of the final consumer* (the automobile owner). Understanding: • what they are saying, •what they are complaining about, and •what is their measure of making a choice etc. *Although this activity is also the part of our CRM initiative. 5
  6. 6. The detailed assessment of eMarketing Insight our social media choices Figures could be managed according to the company Strategic Fit Impact Feasibility Total requirements Market Alignment Expected Cost/Bene Technical Resources Resources Selection Criteria with Goals Positionin Industry Reach fit Customer Risk - Financial - People Weight g Weighting Scale 15% 15% 10% 10% 15% 15% 10% 5% 5% 100% Ranking Criteria: Definitions: Alignment with Company Goals How aligned is this project to my corporate goals & objectives? Market Positioning Does this initiative position us better in the auto-components market? Industry Would adopting this Social Media channel be attractive in auto-components industry? Expected Reach How popular is this Social Media channel? Will this provide a great deal of exposure for our products? Cost/Benefit Does this initiative have a solid cost/benefit? Customer Will this initiative help us better service and maintain our existing accounts? Technical Risk What is the probability of overcoming the technical challenges of this social media project? Resources - Financial Do we have the financial resources to execute this social media initiative? Resources - People Do we have the skills & bandwidth to execute this social media initiative? 6
  7. 7. eMarketing Insight High level impact of these ideas Better customer relationship management Better preparedness for new customer acquisition Capturing the voice of customer and customer’s customer More prepared for capturing emerging opportunities More brand awareness Targeted promotions, hence better cost effectiveness Employee involved with the lager objectives of the company Increased communication effectiveness 7
  8. 8. eMarketing Insight List of References • Indian auto components, VOL. 24 NO. 4 2008 STRATEGIC DIRCTION • Kasturi Rangan V.;What is industrial Marketing, HBS, Sept 23, 1994 • Raymond Corey E.; Industrial Buying Behavior, “Procurement Management, strategy, Organizatio an Decision Making” 1978 • C. Anderson James, A. Narus James, and Van Rossum Wouter; Customer Value Proposition in Business Markets, Harvard Business Review, March 2006 • • • • • • • • • • • • • • • • • • • • • • • • • • • • • 8
  9. 9. eMarketing Insight By: eMarketing Insight Follow us on twitter Get updates: Click 9