Social Media: B2C to B2B

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An analysis of social media and its relevance to both Business to Consumer and Business to Business. Are you paying attention?

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Social Media: B2C to B2B

  1. 1. Social Media… … the ordering, buying, reviewing, selling, customer retention, brand-building, buzz-generating tool so you can make money in the new century medium Are you paying attention?
  2. 2. What is social media? <ul><li>Internet- and mobile-based tools for sharing and discussing information among human beings. </li></ul><ul><ul><li>Wikipedia </li></ul></ul>
  3. 3. What social media is not <ul><li>Social networking </li></ul><ul><ul><li>Social networking has always existed </li></ul></ul><ul><ul><li>Exchange of ideas between two or more people </li></ul></ul><ul><li>E-commerce </li></ul><ul><ul><li>Limited to online or mobile monetary transaction between parties </li></ul></ul><ul><ul><li>Can be a function, component or result of social media </li></ul></ul>
  4. 4. What is social media…to business? <ul><li>The use of Internet- and mobile-based tools to engage customers, collect consumer data, share information and generate awareness. </li></ul>
  5. 5. Is social media relevant? <ul><li>Facebook.com- Social Network Site 150 Million Active Users Fastest growing Demo 30+ </li></ul><ul><li>Flickr.com-Photo Sharing App hosts more than two billion tagged images </li></ul><ul><li>Twitter.com- micro-blogging site 5,979,053 people answering the question “What are you doing now?” in 140 characters! </li></ul><ul><li>Wikipedia.com- Information Sharing Source 684 Million visitors/ 75K active contributors </li></ul><ul><li>Youtube.com- Video Sharing 5 billion online US videos 44% share of all online videos </li></ul><ul><li>Digg.com-Social News site #3 referring source of traffic to NY Times. 30K visitors/ month </li></ul>
  6. 6. Is social media relevant? <ul><li>A.C. Nielsen created multi-million dollar company focused entirely on measuring social media </li></ul><ul><ul><li>Founded in late ‘90s, PlanetFeedback was a website that attracted consumer opinions of products and services; earned revenue from advertising </li></ul></ul><ul><ul><li>Purchased by Intelliseek in 2004 </li></ul></ul><ul><ul><li>Purchased by A.C. Nielsen in 2006 and combined with R&D company to become Nielsen BuzzMetrics </li></ul></ul><ul><ul><li>Focused entirely on online brand monitoring </li></ul></ul><ul><ul><li>Legitimizes and measures consumer response in a virtual world </li></ul></ul>
  7. 7. Types of social media <ul><li>Weblogs/Blogs—Blog.Wired.com, Okeeffepr, TwoBitsAndAByte </li></ul><ul><li>Microblogs—Twitter </li></ul><ul><li>News dissemination (Social Media Release)—PitchEngine.com, Google News, Twitter </li></ul><ul><li>E-Newsletters </li></ul><ul><li>E-mail </li></ul><ul><li>Social media networking sites—Facebook, LinkedIn, Google Groups </li></ul><ul><li>Aggregators—FeedBurner, FriendFeed </li></ul><ul><li>Wikis—Topic-specific Wikipedia pages </li></ul><ul><li>Online photo/video sharing galleries—YouTube, Flickr </li></ul><ul><li>Podcasts </li></ul><ul><li>Text messaging </li></ul><ul><li>Internet forums </li></ul><ul><li>Event forums—Meetup.com </li></ul><ul><li>Custom Applications—Twit2Win </li></ul>
  8. 8. Strengths/Weaknesses <ul><li>Strengths </li></ul><ul><ul><li>Real time </li></ul></ul><ul><ul><li>Generates direct consumer demand </li></ul></ul><ul><ul><li>Rapidly increasing usage </li></ul></ul><ul><ul><li>Increases search engine rankings </li></ul></ul><ul><ul><li>Accessible </li></ul></ul><ul><ul><li>Easy-to-use </li></ul></ul><ul><ul><li>Cost-effective </li></ul></ul><ul><ul><li>Organic </li></ul></ul><ul><ul><li>Strong…and growing…user base </li></ul></ul><ul><li>Weaknesses </li></ul><ul><ul><li>Difficult to measure </li></ul></ul><ul><ul><li>Time Consuming </li></ul></ul><ul><ul><li>Still evolving </li></ul></ul>
  9. 9. Social media for B2C <ul><li>Cincinnati Sports Leagues (CSL) (gocsl.com) </li></ul><ul><ul><li>Objectives </li></ul></ul><ul><ul><ul><li>Promote CSL activities </li></ul></ul></ul><ul><ul><ul><li>Attract interest from advertisers </li></ul></ul></ul><ul><ul><li>Social Media Components </li></ul></ul><ul><ul><ul><li>Facebook page—426 friends, Brian updates and monitors, posts events </li></ul></ul></ul><ul><ul><ul><li>Twitter profile—attract followers </li></ul></ul></ul><ul><ul><ul><li>Soapbox.com—blogged daily 1 week to promote CSL to older/business audience </li></ul></ul></ul><ul><ul><li>Results </li></ul></ul><ul><ul><ul><li>Increased brand awareness </li></ul></ul></ul><ul><ul><ul><li>Frequent customer interaction </li></ul></ul></ul><ul><ul><ul><li>Personalization—strong friend base </li></ul></ul></ul>
  10. 10. Social media for B2C <ul><li>Identifying the most useful tools to actively engage and measure your customer base </li></ul><ul><li>Striking a balance between ‘in property ‘tactics and ‘out of property’ tactics </li></ul><ul><li>Building value with ‘in and out’ of property SM tools! </li></ul><ul><li>Integrating SM into the operations of your business. Avoiding apathetic use! </li></ul><ul><li>Identifying what metrics you use to determine success/ failure of SM tool/ campaign </li></ul>
  11. 11. Social media for B2B <ul><li>General Data Company (general-data.com) </li></ul><ul><ul><li>Objectives </li></ul></ul><ul><ul><ul><ul><li>Promote products to targeted healthcare prospects </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Build awareness as experts on healthcare data capture/workflow </li></ul></ul></ul></ul><ul><ul><ul><li>Social Media Components </li></ul></ul></ul><ul><ul><ul><ul><li>Healthcare blog </li></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>Promote via FeedBurner, RSS feed, etc. </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>“ Live blogging”—Client interviews industry authorities at conferences; streams/posts interviews via GD’s blog </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><li>Social media releases—all GD news </li></ul></ul></ul></ul><ul><ul><ul><ul><li>YouTube Station—post video demos, etc. </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Soapbox.com—blogged daily 1 week to generate Greater Cincinnati awareness </li></ul></ul></ul></ul><ul><ul><ul><li>Results </li></ul></ul></ul><ul><ul><ul><ul><li>Increased awareness </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Recognized as industry authority by prospects </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Increased search engine rankings </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Network TV Coverage—Personal ID Patient Wristbands featured on CBS’ The Doctors </li></ul></ul></ul></ul>
  12. 12. Social media for B2B <ul><li>Miller Electric Manufacturing Co. (millerwelds.com) </li></ul><ul><ul><li>Objectives </li></ul></ul><ul><ul><ul><li>Preferred resource on all things welding </li></ul></ul></ul><ul><ul><ul><li>Increased Web traffic </li></ul></ul></ul><ul><ul><li>Social Media Components </li></ul></ul><ul><ul><ul><li>Website—content rich and SEO optimized </li></ul></ul></ul><ul><ul><ul><li>Minisites—devoted to specific welding apps and interests (e.g., motorsports) </li></ul></ul></ul><ul><ul><ul><li>E-Newsletters </li></ul></ul></ul><ul><ul><ul><li>RSS Feeds </li></ul></ul></ul><ul><ul><ul><li>Blog—prominence on home page </li></ul></ul></ul><ul><ul><li>Results </li></ul></ul><ul><ul><ul><li>Go-to site for welding information </li></ul></ul></ul><ul><ul><ul><li>Website provides rich, relevant, fun experience </li></ul></ul></ul><ul><ul><ul><li>Drives e-commerce purchases </li></ul></ul></ul>
  13. 13. How not to use social media <ul><li>Motrin (Johnson & Johnson) (motrin.com) </li></ul><ul><ul><li>Objective </li></ul></ul><ul><ul><ul><li>Sell Motrin </li></ul></ul></ul><ul><ul><li>Social Media Components </li></ul></ul><ul><ul><ul><li>Irreverent video designed to appeal to young mothers suffering from back pain associated with baby slings/carries </li></ul></ul></ul><ul><ul><ul><li>Posted ad to YouTube and Motrin.com </li></ul></ul></ul><ul><ul><li>Results </li></ul></ul><ul><ul><ul><li>Small # of “mommy bloggers” were offended; posted scathing remarks on Twitter </li></ul></ul></ul><ul><ul><ul><li>Motrin apologized and pulled ad immediately </li></ul></ul></ul><ul><ul><ul><li>Motrin pulled entire campaign </li></ul></ul></ul><ul><ul><ul><li>Motrin wasted all money spent on campaign </li></ul></ul></ul><ul><ul><li>Later Findings </li></ul></ul><ul><ul><ul><li>Motrin heard from same mommy bloggers that they were disappointed video was pulled </li></ul></ul></ul><ul><ul><ul><li>Mommies wanted their concerns addressed, not dismissed </li></ul></ul></ul><ul><ul><ul><li>Motrin failed to engage and befriend bloggers; lost potential customers </li></ul></ul></ul>
  14. 14. Why does social media matter? <ul><li>It’s the way people of all ages and demographics are communicating </li></ul><ul><li>Studies show consumers research products online before buying </li></ul><ul><ul><li>True for B2C and B2B </li></ul></ul><ul><ul><li>Why wouldn’t you build your online relationship with them…NOW? </li></ul></ul><ul><ul><ul><li>Website </li></ul></ul></ul><ul><ul><ul><li>Blog </li></ul></ul></ul><ul><ul><ul><li>Social networking profile </li></ul></ul></ul><ul><ul><ul><li>Wiki </li></ul></ul></ul><ul><ul><ul><li>Podcast </li></ul></ul></ul><ul><ul><ul><li>E-newsletter… </li></ul></ul></ul><ul><li>Its usage is growing rapidly </li></ul><ul><li>Vital part of marketing mix </li></ul><ul><li>Engages customers like no other medium </li></ul><ul><li>Natural evolution of marketing and PR </li></ul><ul><li>Traditional advertising isn’t working; declining usage/revenues </li></ul>
  15. 15. Questions?
  16. 16. Blog Example <ul><li>Blog </li></ul><ul><ul><li>Online mechanism for sharing information </li></ul></ul><ul><ul><li>More personal and dynamic than typical website </li></ul></ul><ul><ul><li>Can be separate from or component of corp website </li></ul></ul><ul><ul><li>Typically ties into overall marketing/PR strategy </li></ul></ul><ul><ul><li>Can allow comments from visitors; can monitor comments </li></ul></ul><ul><ul><li>Easy to create using free, downloadable blog software </li></ul></ul><ul><ul><li>Best used for sharing information of interest to or that specifically benefits targeted users </li></ul></ul><ul><ul><li>Serves as home page for many business websites </li></ul></ul>
  17. 17. Microblog Example <ul><li>Twitter </li></ul><ul><ul><li>Leading microblog </li></ul></ul><ul><ul><li>Limit of 140 characters per entry </li></ul></ul><ul><ul><li>Allows people to follow each other in real time from any location with Web/mobile access </li></ul></ul><ul><ul><li>Simple to use </li></ul></ul><ul><ul><li>Nearly 6 million users worldwide </li></ul></ul><ul><ul><li>Increasing usage among businesses, individuals, politicians and PR pros as news dissemination device </li></ul></ul><ul><ul><li>Growing number of reporters take story pitches from Twitter ONLY </li></ul></ul>
  18. 18. Social Media Release Example <ul><li>Social Media Release </li></ul><ul><ul><li>Online news dissemination device </li></ul></ul><ul><ul><li>Immediate delivery to numerous social and business networks </li></ul></ul><ul><ul><li>Large and growing mainstream/trade media subscriber list </li></ul></ul><ul><ul><ul><li>Often preferred means of receiving story ideas/pitches </li></ul></ul></ul><ul><ul><li>Rapidly growing user base </li></ul></ul><ul><ul><li>Easy to use </li></ul></ul><ul><ul><li>Typically free of charge </li></ul></ul>
  19. 19. Social Media Networking Site Example
  20. 20. Social Media Aggregator Example <ul><li>Social Media Aggregator </li></ul><ul><ul><li>Online tool </li></ul></ul><ul><ul><li>Enables users to publicize and “push” their content feeds (blogs, websites, podcasts, e-newsletters, etc. to numerous online audiences at once </li></ul></ul>
  21. 21. Podcast Example <ul><li>Podcast </li></ul><ul><ul><li>Free video or audio series downloaded to and playable on iPods, computers, TVs, mobile phones, or similar mobile media devices </li></ul></ul><ul><ul><li>Enable users to view or listen to preferred content almost anywhere at anytime </li></ul></ul>
  22. 22. Event Forum Example <ul><li>Event Forum </li></ul><ul><ul><li>Set up custom events online </li></ul></ul><ul><ul><li>Choose whom to invite </li></ul></ul><ul><ul><li>Allow others to join </li></ul></ul><ul><ul><li>Specific to topic, location, etc. </li></ul></ul>
  23. 23. Custom SM Application Example <ul><li>Social Media Application </li></ul><ul><ul><li>Custom sweepstakes application driven by Twitter </li></ul></ul><ul><ul><li>Launched Jan 14, 2009 </li></ul></ul><ul><ul><li>640 followers by Feb 4 </li></ul></ul><ul><ul><li>Objective </li></ul></ul><ul><ul><ul><li>Cascade: Gain Twitter followers to drive traffic to blog and then to website </li></ul></ul></ul><ul><ul><li>Current Campaign </li></ul></ul><ul><ul><ul><li>Freedom Center Family Membership </li></ul></ul></ul><ul><ul><ul><ul><li>Launched Feb 3 </li></ul></ul></ul></ul><ul><ul><ul><ul><li>30 followers in first 3 days </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Campaign ends Feb 10 </li></ul></ul></ul></ul>

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