With the soaring popularity of Facebook, Twitter and other social media, many Business-to-Consumer (B2C) companies have been quick to spot the business value of engaging social media. B2C firms – those that sell products and services directly to the end consumer – receive prompt feedback and can more effectively promote their brand to today’s tech-savvy customers.
On the other hand, Business-to-Business (B2B) companies have not jumped on the social media bandwagon in a similar fashion. With transactions occurring only between businesses, some B2B companies simply don’t see the value of social media.
If you are a B2B company, here are six reasons why you should exploit social media:
On the other hand, Business-to-Business (B2B) companies have not jumped on the social media bandwagon in a similar fashion. With transactions occurring only between businesses, some B2B companies simply don’t see the value of social media.
If you are a B2B company, here are six reasons why you should exploit social media:
1. Brand Management
Social media tools can make your brand sparkle. If you release a new product, influencers can tell you how much they like your product or suggest changes. If you are on Facebook, you could build a discussion on the topic. You can update large numbers of followers on Twitter. Tap into discussions and comments for invaluable feedback. By responding positively to the feedback from your influencers, you build trust and earn their support. Your brand gains recognition.2. Corporate decision-makers are actively using social media
The person who makes the decision of buying from you is very likely to have read consumer reviews or comments on various social media sites. According to a 2009 report The Rise of the Digital C-Suite: How Executives Locate and Filter Business Information, from Forbes, 56% of executives under 40 who responded said they read or generate microfeeds daily (32%) or several times a week (24%). Drawing from this, he or she is also likely to have read your interaction with the customer on the same site. The decision-maker reads blogs and sees videos. If you want to engage this person, it is necessary to incorporate social media in your public relations arsenal. If you are a B2B company, here are six reasons why you should exploit social media:3. Build networks
Your presence on social media sites can help you build a community of like-minded people and businesses. The informal tone of many social media outlets can make it easier to reach out and network. On resources like LinkedIn, you could come across new businesses to build relationships with.4. Cost-effective way to reach a large audience
Social media can be a cost-effective method to augment your PR strategy. Yes, you will invest people, time and effort to maintain your social media profiles, but it can be a cheaper option compared to print advertisements, brochures and pamphlets. And since you are on the internet, your audience is global.5. Thought leadership
Social media platforms are ideal for you to position yourself as a thought leader. You can be a leader in the field by making white papers, presentations and other reports available on social media. You will likely gain recognition for your solid knowledge of the industry landscape and the requirements of your customers.Blogs are a great way to showcase thought leadership. Your blogs could repurpose content from white papers and/or express your company’s point of view on leading trends regularly.
6. Competitive advantage
Many B2Bs have not yet taken advantage of social media platforms. You could gain a valuable competitive advantage and market share by using these tools by being the first among your peer group.