April 13th 2011: HOT OFF THE PRESS:
VERY positive news for Social Media marketing!
‘Social media is one of the most powerful influencers on buyer behavior. Consumer marketers were the first to understand this, seizing upon Twitter and Facebook and using them as powerful tools to drive messages to their customers. Now, B2B marketers are recognizing that the medium is no less influential with their customers.’
This is something Construction Marketing UK has maintained for some time now! Of course it was the B2C market that dominated Social Media marketing at first, because the roots of Social Media marketing came from the broadest consumer base. Every Facebook and Twitter fan consumes something, right? Whether it’s Coca Cola or Doritos, the 600,000,000 Facebook fans are all consumers, it’s as simple as that and now that initial consumer acceptance has been tried, tested and proved very, very successful, the obvious next step is B2B. That’s why Facebook is beefing up it’s Facebook business marketing and to an extent why LinkedIn is now offering an excellent Products and Services section for all LinkedIn members and their companies.
‘Social Media marketing is poised for hyper-growth, as are the metrics to measure these efforts. These metrics will be game-changers in a new era of b2b social media marketing. In the future it is very likely that the major players of today will not dominate the market tomorrow.’
Construction Marketing UK agrees with this comment too, Facebook, Twitter, YouTube and LinkedIn, may or may not continue to be who they currently are, let’s look at Yahoo in 2000, shall we?? Yahoo’s stock was almost $102.00 January 7th 2000 and now it’s $16.36 (OK, there have been 2 stock splits at 2:1) Technically that’s not a massive drop, although it may seem it, but how much did Yahoo actually grow in the past decade?? Wasn’t Yahoo the big daddy of the dot com era?? Weren’t we all told to rush out and buy that stock and hold it for the long term??
We are currently seeing new developments on a daily basis, read Cindy King’s Social Media Examiner reports on new Social Media developments and you will be amazed! Quora didn’t make such a big splash initially, but they’re doing more now, LinkedIn’s new features are amazing for business and what about companies like Rockmelt, Oorook and Buffer, where will they be in a decade??
‘The results of BtoB‘s exclusive research study focuses on how b2b marketers are leveraging social media. Based on the responses of 577 b2b marketers, this study not only looks at the demand for LinkedIn, Facebook, Twitter, and others but how marketers are using the unique applications of each to their best advantage across all marketing functions.’
The BtoB report includes 76 pages and over 90 charts and graphs that are designed to jump start your social media marketing. This research will help you learn:
- The adoption curve of social media … you’ll be surprised to learn how much more demand is untapped.
- The different applications, from branding, to listening, to promoting, depending on which social media is used.
- The average time it takes a new marketer to become proficient in social media. Faster than you think!
- Metrics. Most social media marketing is unmeasured … find-out how metrics will be a game-changer for the industry.
There are some very interesting points here, Social Media marketing offers countless opportunities BUT, and it is a BIG BUT, old sales and marketing methods just will not work! Social Media has changed the marketing landscape and it’s permission marketing or nothing! Consumers embracing Social Media don’t want hard sell traditional advertising, that’s why less people are watching TV in the 21st century.
Consumers want to make informed decisions and they also want to use Social Media to see not only what their peers are doing and buying, but also why they are doing things and why they are buying things! Consumers have a new sense of empowerment and the word is getting out, the consumer will be KING soon thanks to Social Media! Big corporations watch out!
Social Media unmeasured? Construction Marketing UK tends not to completely agree with this statement. We can see using GetClicky analytics, who views the Construction Marketing UK Blog each day, for how long, where they’re from, what the bounce rate is and a whole lot more. That’s pretty useful!
The spinning globe on the Construction Marketing UK Blog shows that well over 5,000 people from all over the world, have viewed the Blog in the last 5 weeks and the little red lights show where they are from. That’s pretty measured!
Our Facebook insights show us exactly what’s happening on our Facebook business account:
Post views = 19,040 Feedback = 100 New likes = 91 Lifetime likes = 244 Monthly active users 477 up 86%
That’s useful Social Media information to us here at Construction Marketing UK too!
My Buffer analytics show me that at 6.00 pm 12th April my ‘Social Media satire edition 5′ link reached 3122 Twitter fans, 6 Twitter fans clicked on the link and 1 of them ReTweeted that link (Thanks!). Buffer also tells my that at 1.15 pm 4th April, my ‘Website redemption’ link reached 5646 Twitter fans and 6 people click on that link and 1 person ReTweeted that link! I would say this is good stuff to know too!!
Based on these results, I would NOT say Social Media is totally unmeasured, however the real results from this Social Media engagement are unmeasured and we maintain that this is the crux of the matter. This is where some direct marketing comes in and proves that traditional marketing should not be neglected. We need to continue to engage with our potential customers, give them additional information if they require it, explain exactly how our service can help them, how much the product or service will cost them and explain what results they are likely to see. While we do all this, we MUST also ask them more about how and why they chose us as a company.
So far, so good, but this is where we get controversial!!
During this Social Media engagement process, if we get the right buying signals, we should recommend that the potential customer signs on the line which is dotted. If we neglect asking for their business, they may well go elsewhere, they may think we don’t want their custom?? This is where the Social Media marketer and the Social Media sales person meet.
This is the tricky part, what is acceptable Social Media salesmanship and what is pushy traditional salesmanship?? Not only that, but who does what here depends on the individual company and its structure. This is one of the issues I often ponder, who is the Social Media marketer?? With Social Media where does the marketing finish and salesmanship begin?
We also need to decide from the feedback from customers and potential customers what works and what doesn’t, this of course is like traditional marketing, BUT we will have a preferable format eventually, whereas with traditional advertising, the many grey areas often remained grey. We shouldn’t forget however, that new Social Media platforms are coming along daily, we should not get complacent, but hey, that’s business! No one said it would be easy!
The B2B research will help marketers budget, plan and execute social media based campaigns in the coming year.
Social Media Marketing at a Glance
‘Here is one example of the more than 90 charts and graphs that tells the social media marketer exactly to use social media marketing. At a time when game-changing is the new normal in marketing, Emerging Trends in B-to-B Social Media Marketing: Insights From the Field, provides important guideposts on how to leverage this platform. You will find-out how social media applies to the various specific stages along the sales funnel, and more.’
Excerpts from ‘Emerging Trends in B-to-B Social Media Marketing: Insights From the Field
On User Preferences
Survey item: Which of the following social media methods does your company currently use for your b-to-b marketing (i.e., not personal use)?
‘LinkedIn, Facebook and Twitter are virtually tied as the most used social media channels by b-to-b marketers, who were asked to choose all that apply. These are followed by YouTube, blogging, customer communities, Flickr, Digg, Stumbleupon and Tumblr as favorite social channels.’
It’s great to see StumbleUpon there, I have maintained for the longest time that StumbleUpon (and Behance) are ‘sleeping giants’ and my recent post on Cherry Solution of Singapore’s Blog, highlights just how effective StumbleUpon really is! (Construction Marketing UK Social Media full report HERE!!)
While most marketers engaged in social media are using a combination of several channels, there are clear preferences. When marketers were asked to choose the one most important method that they use for their social outreach, LinkedIn was the clear leader, chosen by 26% of respondents. Following it were Facebook (20%), blogging (19%), customer communities (14%), Twitter (13%) and YouTube (7%).
It’s interesting that Twitter—used by b-to-b marketers almost as thoroughly as they use LinkedIn and Facebook when all social channels are considered—falls well below those two as the single most favorite social media channel.
On Obstacles to Adoption
Survey item: What are the top three major obstacles to adopting social media marketing in your company?
Lack of resources, cited by 70% of respondents, is the single most pressing obstacle to implementing a social media marketing program. While the lack of resources is certainly frustrating for many socially inclined marketers, they’re faced with other hurdles: 57% cited poorly defined success metrics and key performance indicators, and 44% said “lack of knowledge about social media” is holding them and their companies back. Management resistance, cited by 22%, may stem from the preceding three obstacles.
Companies say lack of resources and lack of knowledge is the reason they’re not using Social Media marketing?? Call me on 01473 435308 and I’ll tell you what’s happening and what’s best for your company and I’ll tell you how we’ll manage your Social Media campaign too!!
Please do NOT forget that every company is different, it’s not a ‘one size fits all’ scenario, so you need to sit down and discuss your company in detail. You won’t see results over night and if your company is no good, you won’t see results at all, but if you’re good, we really can help you! Sure you’ll see management resistance, these guys grew up with the Yellow Pages and WOM networking, they don’t like change, it scares them; meanwhile the ‘early adopters’ are taking what’s left of your business!! (A BIG hello, to my friends at Miller Homes!)
If you need to know more about Social Media marketing, Construction Marketing UK would strongly recommend buying this report at $149.00 from BtoB exclusive research, for details please CLICK HERE.
If your company needs more individual information on how to make the best of Social Media and Social Media marketing please call 01473 435308 or email firstname.lastname@example.org
Please do not expect good results from random acts of Social Media marketing, if you do not have a Social Media campaign, you will only be disappointed. That is a fact!
If you have found this article useful please share it with others via Facebook, Twitter, StumbleUpon or whichever Social Media platform you prefer, thank you!
- Social Media Important to 90% of Marketers [New Data] (hubspot.com)