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Showing posts with label b2b social media. Show all posts
Showing posts with label b2b social media. Show all posts

February 1, 2011

November 22, 2010

B2B Social Spending: top 5 Statistics







B2B Social Spending
B2B advertising spend on social media and lead generation sites is forecasted to grow at an annualized rate of 21% and 17% respectively to 2013Online accounted for 7% of the B2B marketing mix in 2008. This is set to reach 12% by 2013.

Source: AMR International B2B Online Marketing Assessment and Forecast to 2013

US business-to-business (B2B) advertising and marketing spending will increase by 0.8% this year, to $129 billion
Interactive spending will climb 9.2%, to $51.5 billion this year.

Source: eMarketer

B2B interactive marketing spending will climb to nearly $4.8 billion in 2014
Source: Forrester Research

B2B Social Participation

86% of B2B firms are using social media, compared to 82% of B2C outfits
Only 32% of B2B firms engage in social media on a daily basis compared with 52% of B2C firms
36% of B2B executives have “low interest in social media” compared with just 12% for B2C executives.

Source: BizReport

34% of B2B marketers are not measuring social success at all, versus just 10% of B2C marketers
46% of B2B marketers said social media was perceived as irrelevant to their company, versus 12% of B2C marketers.

Source: eMarketer

54% of CIOs prohibit the use of social networking sites such as Twitter and Facebook while at work
Source: Robert Half

B2B Customer Perspective and Buying Process

93% of business buyers believe all companies should have a social media presence
85% of business buyers believe companies shouldn’t just present information via social media – they should also interact and engage with them

Source: Buzz Marketing

Bloggers on Brands

71% of all respondents who maintain blogs for a business – their own or one they work for report that they have increased their visibility within their industries through their blogs
70% of bloggers are talking about brands on their blog organically
46% of respondents post about the brands they love (or hate)
38% post brand or product reviews
Source: Technorati

Original Post: http://blog.marketo.com/blog/2010/09/b2b-marketing-stats.html

August 15, 2010

Using Social Media for B2B: The Top 10 Wish list



b2b social media unlike b2c social media is more subtle and focuses on creating a creating a thought leadership rather than cool monikers. While consumer b2c digital marketing is at a slightly more evolved stage ,b2b marketing is a greater challenge to marketers due to the limitations on their brand communication and the digital execution. Unlike a b2c , a b2b audience is not focussed on direct impulse purchase..but use it as an activity to analyse and shortlist potential vendors.

However today many b2b marketers have taken a lead as far as using social media to establish not only a thought leadership in its vertical but have also use the digital platform to engage,interact and also use it as a lead generation tool.

Adam Holden of socialmediab2b lists some of the wishlist which b2b marketers need to keep in their mind

This digital social layer allows companies to connect and engage with your audience across multiple channels along with the “Four W’s” of your audience

Who: demographics, occupation, location and more
What: interests, brand affinities, lifestyles, and influence
Where: social sites used and online hangouts
With Whom: friends and associates

Reasons why you should map your customers and prospects to social media:

1. Determine if you should be on social networks
If you are unsure about whether or not you should be marketing via social media, using social appending tools will help you understand the social activity of your contacts.

2. Determine which channels to use
Learn which channels your customers or contacts use most frequently and speak to them where they are most comfortable.

3. Determine where to best devote resources
Optimize the time you spend engaging and identify potential new channels to engage your key contacts.
4. Identify influencers
Do you know who your most valuable brand advocates are? Use the number of Facebook friends, tweets, followers, etc. to identify and engage your contacts with the most marketing influence. Create content or VIP offers to target and reward this very important group.
5. Increase relevance.

Gather insights from a Twitter feed or LinkedIn profile: This is essential to provide marketing intelligence which can be used to create more personalized communications. Those communications can then be distributed to the most relevant segments of your database.

6. Compare prospects to customers
If you know the social behaviors of your customers, compare that to your prospects. Learn about the differences between the two groups and adjust your prospect messaging accordingly.

7. Target new customers
Once you how your customers behave in the social networks, use that information to go after others with similar profiles or behaviors.

8. Be more effective with sales and retention
Provide your sales team with prospect or customer social profile information and allow them to learn more about the contact which will promote a more authentic conversation and sales experience.

Some companies that provide social marketing intelligence or influencer identification services are:

Rapleaf
Rapleaf helps you better understand who your customers are so you can personalize communications and boost interactions while lifting conversions. Using Rapleaf can help you reveal and understand your customers’ demographics, interests, occupation, social media memberships, friend connections and more.

Netprospex
Netprospex is a directory of user-contributed business contacts verified with their proprietary CleneStep technology. Quickly find, view and download business contacts including phone and email addresses. NetProspex has a large database of 14 million verified B2B contacts.

Klout
Klout allows you to find and engage Twitter influencers based on topic or hashtag so you can understand their network value.

Flowtown
When you have an email address, Flowtown allows you to find which social networks your customers are on.

Read more: http://socialmediab2b.com/2010/08/b2b-customers-social-media-profiles/#ixzz0wgx7Hk4v

August 11, 2010

The State of Online B2B Marketing: What Lies Beneath

b2b social media  usage how-B2B-measure-ROI Why-b2b-use-social-networks B2B-Marketing-Spending







Here are some of the best B2B online marketing trends and statistics which have been compiled from many websites. I hope that some of my readers who are b2b marketers might find these links interesting.While there might be many sites which i may have missed, I would appreciate if you could send me more b2b resources which would be web marketers. Special thanks to Adam Bache of Socialmedia b2b and Sarah Chong

Usage:

  • 86% of B2B firms are using social, compared to 82% of B2C.
  • B2B firms aren’t as active in their social media activity with only 32% engaging on a daily basis compared with 52% of B2C firms.
  • More than half (53.5%) of marketers surveyed said they currently use social media as part of their marketing strategy. as compared to 45% in 2009
  • 81 % of B2B companies have accounts on social media sites compared to 67% of B2C
  • 75% of B2B brands participate in Twitter versus 49% of B2C

Forecasts:

  • Annual growth in US B2B online marketing is set to reach 14% by 2012. and to $54 million in 2014.
  • B2B advertising spend on social media and lead generation sites is to grow at an annualized rate of 21% and 17% respectively in 2013.
  • Online accounted for 7% of the B2B marketing mix in 2008. This is set to reach 12% by 2013. (Source)
  • Two thirds of B2B marketers believe that online must be complemented by traditional marketing activities. (Source)
  • Only 50% of B2B marketers formally analyze metrics to judge ROI – B2B marketing spending on social networking sites is predicted to rise 43.3%. (Source)

Decision Makers Interest:

  • 36% of B2B execs surveyed said there was low executive interest in social media in their company, compared with 9% of B2C marketers who said the same. (Source)
  • 46% of B2B respondents said social media was perceived as irrelevant to their company, while only 12% of consumer-oriented marketers had the same problem. (Source)
  • Eight out of Ten IT decision makers said word of mouth is the most important source when making buying decisions

Focus:

  • According to an eMarketer study, B2B online marketers focus on lead generation (38%), retention (34%) and awareness (28%). (Source)
  • The top applications for the use of social media for b2b marketers are thought leadership (59.8%), lead generation (48.9%), customer feedback (45.7%) and advertising on sites (34.7%). (Source)
  • 93% of B2B buyers use a search engine such as Google to begin the buying process
  • 81% of B2B companies maintain company-related accounts or profiles on social media sites versus 67% of B2C
  • 75% of B2Bers participate in microblogging (eg. Twitter) versus 49% of B2Cers
  • Just 16 of the FTSE 100 companies are using Twitter, despite the fact that 20% of Tweets contain a reference to a product or brand

Distribution Channels:

  • Asked to rate the effectiveness of specific social media sites in their marketing efforts, more than one-half of respondents said that
  • Facebook was “extremely” or “somewhat” effective. Somewhat fewer said the same of LinkedIn, and just 35% considered Twitter effective.
  • In contrast, when Hubspot surveyed B2B companies in North America about lead generation through social channels, 45% rated LinkedIn effective, compared with just 33% who said the same of Facebook.
  • Methods generating the highest B2B ROI are topped by advertisers’ own websites, followed by conferences, exhibitions and trade shows; direct mail; search engine keywords; and e-marketing/e-newsletters.
  • 7 out of 10 buyers say that they start their buying process at vendor sites, not Google
  • 89% of journalists make use of blogs while conducting their online research and 96% turn to corporate websites

Measurement

  • 34% of B2B marketers said they were not measuring social success at all versus just 10% of B2C respondents. (Source)
  • Website traffic, brand awareness, engagement with prospects and engagement with customers are the leading metrics used to measure the success of social media for B2B companies. (Source)
  • 54% of CIOs prohibit use of social networking sites, such as Facebook, MySpace and Twitter, while at work

Resource Allocation:

  • 60% of B2B firms have no staff dedicated to social media compared with 54% of B2C players.
  • Just 10% of B2B firms use outside agencies or consultants compared with 28% of B2C firms.
  • B2B product marketers were spending an average of 3.4% of their marketing budgets on social media in February 2010, and B2B services marketers were spending 6.5%.
  • Within online marketing, the top areas that will see spending increases include Web site development (70.7% plan increases), email marketing (68.6%), search marketing (62.3%), social media (60.3%), video (50.7%) and webcasts (46.0%)

August 10, 2010

B2B Online Tools : The Top 10 tools to Track your Brand

Socialmediab2b recently posted on the top b2b social media tools,although i personally think that you can use it for b2b as well


I am re-posting Adam Bache's Blog here for my readers benefit . Thanks Adam for the list

1. Social Mention
http://www.socialmention.com
Cost: Free
For those of you that use Google Alerts you may want to take a look at Social Mention. Social Mention is a real time search platform that will allow you to search on a keyword/phrase and see its social mentions across 100+ social media properties. It offers a strength score, sentiment ratio, a passion score and reach. This stream of information can be fed into your RSS feeds or be delivered to your inbox. It also displays Top Users, Top Hashtags, and Sources. It’s a great addition to your listening toolbox.

2. Flowtown
http://www.flowtown.com
Cost: Free trial, monthly fees based on imported contacts and email volume
When all you have is an email address, Flowtown can give you a name, age, gender, occupation, location and all the social networks that person is on. It’s a great resource if you need to append your customer file with social network profile information, learn more about the social habits of your database or if you want to target them on social networks.

3. Compendium Blogware
http://www.compendium.com
Cost: Varies depending on number of keywords
You should consider Compendium if you rely on your blog for SEO results. Compendium’s Blogware product helps you target keywords because it automatically organizes your content in a way that’s ideal for search engines to crawl. It also has great administrative tools with a step-by-step approval process so you can manage your blog content within your organization.

4. Trackur
http://www.trackur.com
Cost: Free for 1 saved search, plans for multiple saved searches
Trackur is a social media monitoring tool that provides an impressive set of features at very reasonable costs. You can save searches which are updated every 30 minutes, receive alerts via RSS or email, bookmark and save discovered items and track sentiment and trends. You can try it for free which includes one saved search, so its easy to give it a test run to see if its right for you, and if so just upgrade into one of the paid plans.

5. Swix
http://www.swixhq.com
Cost: Free (for now)
Swix is your social web index. It allows you to create pods, which is a way to see your metrics for a particular social media property (Twitter, YouTube, your blog, Flickr, MySpace, etc.) Then for each property, you can enter your amount spent, your cost per unit and then see your return on investment. It’s simple to use. For a great review of Swix, read Jay Baer’s post A Social Media Scoreboard that Works.

6. Addictomatic
http://addictomatic.com
Cost: Free
Addictomatic instantly creates a custom page with the latest buzz on any topic. Pick the channels where you want to source your information then save your search as a bookmark. It’s a helpful way to determine the buzz about your product or service, find potential audience and to see what channels are sources of content for your keywords/phrases.

7. Spiral 16
http://www.spiral16.com
Cost: N/A
Spiral 16 offers 3D Visual Mapping. Their visualizer displays the relationships between unique URLs in dynamic 2D and 3D maps. This enables users to quickly identify key influencers who are spreading a positive, negative, or neutral message about a topic across the Internet. It can help you discover trends, identify targets, measure campaigns and sentiment and increase customer loyalty.
Are there any other tools you find useful in your B2B marketing research, monitoring or ROI calculations? Leave us a comment with your favorites.

8.SEO Book Toolbar - You may not know that much about about search engine optimization. However, as a B2B marketer who who will be doing social media you will soon find yourself looking at new data set such as page rank, keywords and comparing traffic between sites. I have found that the easiest way to do these tasks as well as others, is to use the free SEO Book Firefox extensions. It makes a lot a great information easily accessible. While you have to sign up for a free account to be able to download it, it is worth it.


9. URL Shortener – URL shorteners go hand-in-hand with web analytics to help gather web data. Since data from social sites like Facebook and Twitter is at a minimum, URL shortening services like Bit.ly can provide additional data and statics to help segment ROI and improve content for the future.

10. Twitter Client – The real-time web does matter in B2B social media and Twitter is a major player in this space. Even if you are not using Twitter for B2B marketing, you should still be using it to gather industry related information. The problem is that using Twitter only through Twitter.com isn’t very effective. To maximize time you need to use a Twitter desktop application like Tweetdeck, Tweetie, Seesmic, etc to make it easier to communicate with others and track key terms related to your business.

For more b2b tools go to http://socialmediab2b.com/2010/04/b2b-social-media-tools-3/#ixzz0wD5ZlFGG

August 8, 2010

Corporate Social Media in Action:How Companies use social Media to Motivate their Employees

Mashable.com The top 20 Corporate Social Media

Coporate Social Media List


How many corporates have an online local community for their internal employees to connect, share and interact with their fellow co workers.?

Be yourself.” It’s one of the rules of social media. If you’re blogging, tweeting or Facebooking for business, be real—or you won’t be followed.

Yet, how do you pull off “authentic” while maintaining the company brand message as well as letting your employees share their views,news with their fellow colleagues .

While a lot of corporates view social networks as an irritant that leads to loss of productivity ,some corporates view social media as an social cohesive glue which leads to fostering camaraderie,interactivity and creating a platform to engage their internal stakeholders to network with the hope that happier employees leads to happy customers

We don’t have a corporate blog or a corporate Twitter ID because we want the ‘IBMers’ in aggregate to be the corporate blog and the corporate Twitter ID,” says Adam Christensen, social media communications at IBM Corporation.

“We represent our brand online the way it always has been, which is employees first. Our brand is largely shaped by the interactions that they have with customers.

IBM does have social media guidelines.The employee-created guidelines basically state that IBMers are individually responsible for what they create and prohibit releasing proprietary information.But the document lacks any mention of brand messages or values,nor does IBM corporate regulate employee social media activity.

“We don’t police. The community’s largely self-regulating, and so there hasn’t really been a need to have someone go about and circuit these boards and blogs,” Christensen said. “Employees sort of do that themselves… And that’s worked wonderfully well.

SocialBlue, formally code-named IBM Beehive, is an internal social networking site that gives IBMers a "rich connection to the people they work with" on both a personal and a professional level. SocialBlue helps employees make new connections, track current friends and coworkers, and renew contacts with people they have worked with in the past.

IBM has Dogear, a community-tagging system based on Del.icio.us, Blue Twit, and a rendition of the microblogging sensation, Twitter. It also has a Web page called Many Eyes that permits anyone (including outsiders, at many-eyes.com) to upload any kind of data, visualize it, and then launch discussions about it on blogs and social networks.

According to Socialmediaexaminer IBM's social media statistics reads something like this
  • There is No IBM corporate blog or Twitter account
  • 7,000 internal blogs
  • 100,000 employees using internal blogs
  • 53,000 members on SocialBlue (like Facebook for employees)
  • A few thousand “IBMers” on Twitter
  • Thousands of external bloggers,
  • Almost 200,000 on LinkedIn
  • As many as 500,000 participants in company crowd-sourcing “jams”
  • 50,000 in alum networks on Facebook and LinkedIn
So, what are some of the take- aways organizations can learn from the Big Blue
  • Lesson no 1 : Decentralize social media
  • lesson no 2 : Social Media need not be an irritant , if used the right way.. Which way is the right way .. needs to be debated.. A blanket ban on social media harms companies more.. as you shut off even the positive conversations on your brand
  • Lesson no 3 : Do not police.. instead self regulate : Have SM guidelines, but don’t police your employees , instead empower them ,as they tend to self-regulate.
  • Lesson no 4:.Involve and Engage: Involve your employees the tools and platform t get involved in social media
  • Lesson now 5:Use Crowdsourcing Tools :If you dont have the internal tools , use crowd sourcing media tools to employees to use them to do their jobs better.
Social Media ideally should bring together employees, clients, partners and friends for powerful idea-sharing.According to socialmediaexaminer.com ,Crowd-sourcing was identified among the 10 best incubator businesses, which IBM funded with $100 million

Already, social scientists are studying the benefits IBMers are getting from the network. They see that it strengthens what are called "weak ties." These are the people employees might know only casually, some in a different division or down a distant corridor. Getting to know these people, even if it starts out with a Top Five list, widens employees' range of contacts and knowledge within the company.

Social networks will inevitably break down barriers between rank, hierarchy, designation, business unit or geography and contries. Social networks have accomplished in days and weeks what the training team-building trust activities have attempted for years.Today for employees who are a part of a global team , internal social media will be the most effective means of communication among their peers.

While Cisco has had established pages and groups on Facebook for a couple years now, most of these pages are focused on one technology or business. In addition, there are Cisco Facebook group and fan pages that aren’t created by Cisco employees.

July 9, 2010

B2b Marketing Lessons from Cisco





Among all b2b Online Marketing Campaigns, Cisco probably has used the digital medium in the most innovative and disruptive way. Cisco has truly mastered the art of differentiated Branding across the web through their amazingly superb Videos, Blogs and other distribution touch points. This is probably the same route which most other b2b marketers would go … but would fail to do with such a high degree of scientific precision and artistic execution . What most of us probably fail to understand ( specially b2b business ) that its not the business which you are in, but its the people who are in that business matter most..

No matter what your product might be.. We all are at the bottom of the pyramid talking to humans , people who want to be a part of a conversation.Users to would love to be pampered, and consumers who would like to get your attention no matter how big and powerful you are..Markets are ultimately conversations and your users might communicate in language that is natural, open, honest, direct, funny and often shocking. Whether explaining or complaining, joking or serious, the human voice is unmistakably genuine. It can't be faked.

While most b2b marketers in terms of distribution channels across the digital space probably do the same things ( webminar/white papers/PDf Download, vertical social networks, Videos ) , Cisco has really raised the benchmark on how a product should be integrated and not hard sold across their business verticals!!

As the Cluetrain Manifesto sums up in the most apt manner ,.
"Its time we stopped thinking of marketing as a one-way propaganda campaign or a mere Broadcast."

Being talked to, preached at, or lectured to by those trying to win our business is generally felt as annoying, not persuasive. As clients, we don’t respond to conventional, one-way, “packaged” marketing because it doesn’t answer the questions we have when we are trying to buy, nor tell us what we need to know.

If you want to influence your consumers, give them the chance to talk to you, about their needs, wishes, and wants.If you really want my business, let’s talk; let’s have a conversation.

Today's Consumers are getting hyperlinked even as markets are. Companies need to listen carefully to both. Mostly, they need to get out of the way so intranetworked employees can converse directly with internetworked markets.

Corporate firewalls have kept smart employees in and smart markets out. It's going to cause real pain to tear those walls down. But the result will be a new kind of conversation. And it will be the most exciting conversation business has ever engaged in.

Popular b2b Marcom Blogger Diana Huff shares her thoughts on how Cisco has managed to used the web to distrupt ,influence and raise awareness and re-inforce perceptions about their products . Click here to read how CISCO 's online Strategy was so refreshing and what other Brands need to learn from CISCO



June 18, 2010

Does Social Media Work for b2b Business




Unlike b2c ( business to consumer) where brands and business can connect to users directly through their mailbox , RSS feeds,Mobiles Applications , and Blogs..and push content to all kinds of users .A b2c enterprise knows that any users at some point or the other are a target audience.However a b2b business has a totally different reason of using the social media.. They need to create a though leadership across their industry to influence their prospects .

Most Brands that active across social media are aware of the biggest truth about their online users... Most users today do not trust brands and business.. Brands that have understood and accepted this simple fact have now realized that just like they have Brand Ambassadors .. they need to have strong influencer's across their social networks who can champion their cause and bring along with them more influencers...

A b2b business has a very specific target group who they need to influence...Its less about those cool monikers and more about though leadership ..

Meanwhile many business-to-business (B2B) companies have gotten turned on to the value of social media marketing and find it helpful for tasks like prospecting and lead generation. However for b2b business , Social Media should be ideally used more to establish your brand among your industry peers and make sure you are looked upon as the " Authority " on your vertical/

A study by lead generation solutions provider LeadForce1 examined the behavior of visitors to B2B Websites who had been directed to the sites from social media, including Facebook, Twitter, LinkedIn and Wikipedia. Visitors from the top social sites were generally uninterested in product or contact pages, suggesting they were not in the market for the company’s products or services.

Many b2b companies have used social media in a highly effective manner and has managed to establish their thought leadership and expertise across their business verticals and making sure that they have the top of the mind recall.In the B2B space its important that yur users see you as the Authority on your industry vertical.

Its essential to have subject-matter experts who are known authorities on their areas of expertise and across their industry .

According to e-marketer Linkedin and Wikipedia users were more likely to browse around company Websites before leaving. LinkedIn users, however, tended to be interested in “careers” pages, suggesting the business-oriented social network refers many job seekers. It was visitors from Wikipedia who were most likely to be carrying out product research.

A few examples are IBM which has its own social media network .. infoboom which focuses on the mid and small enterprise and provides a gateway for small and medium decision makers to interact with their fellow users and provides a platform to share their knowledge with their peers

Since 2007, AMEX OPEN has relied on its OPEN Forum to provide business advice and insight. The social site includes a blog with frequently updated content, and a large collection of videos that users can rate and share via other social networking channels. In the site’s “Idea Hub,” forum members can network with one another and with industry experts, as well as customize topics to their specific interests.

Business.com recently conducted a study that evaluated Social Media activities of those in B2B and B2C. In its report, “2009 B2B Social Media Benchmarking Study,” Business.com found that North American companies focused on B2B were much more rigorous in the world of social media than those in B2C.Click here to see the complete report on how b2b and b2c business differs in their execution of social media activities..