Is social media really just the domain of 15-year-olds?

20/05/11: Is social media really just the domain of 15-year-olds?

On Monday I spoke at Sydney's Digital Marketing and Media Summit to more than 200 digital and marketing professionals about the use of social media as a business to business (B2B) marketing tool. I think we are still behind the eight ball in Australia and have to turn to the US for the proof of the return on investment on social media in B2B communications. But I do have some tips worth taking note of. Things are changing for us as business owners and I urge you to ask around and become social media savvy.

At the conference I mentioned my original communication tool when I started out working in the office of an Indian shipping tycoon in London 20 years ago — apart from the phone — was the telex machine! There wasn't much two-way communication there.

Now with social media at my fingertips, I can communicate with my customers, influencers, competitors, prospects and influencers in seconds. Before I stood up to speak on Monday, I tweeted hello to the room of delegates. I got live feedback via Twitter during the presentation during and after. Thanks guys, good feedback. I'm tweaking my presentations accordingly.

So how do you effectively use social media to communicate to other businesses you do business with? Here are my five steps to B2B social media use:

1. Setting the bullseye

Like any traditional marketing method, it's about making the target clear by setting your goals. Ask why you want to get your company out on social networks? What will success look like? Will it be more leads, followers, customers or exposure? Define your goals clearly, using easily measurable numbers so you can measure the effectiveness of your online presence regularly. Understand you need patience as the social media presence you need won't happen overnight. B2B marketing agency Earnest says 92 percent of client marketers agree it's unwise to ignore social media but 63 percent strategy for it.

2. Find your audience

Look at where potential influencers are spending most of their time? Are they on Twitter, blogs, LinkedIn — but not so much on Facebook? Your strategy will change depending on which platform your industry targets are based and this is where you should concentrate your effort. Potential clients, suppliers, friends and influencers can be interacted with and you may connect well enough to direct engagement to your website, which will showcase your products and services. People buy from people they feel an affinity with.

3. The three Cs: content, context and consistency

After working out who is in charge (yes, like anything it needs to be delegated) decide what your online voice is going to be. Will it be fun, informative, interesting, innovative or a bit of everything? Choose keywords to represent your engagement strategy and make sure your actions all follow along this same line. Your search engine optimisation (SEO) will improve as your content is regularly updated. Link your wider marketing efforts with your social media profile so that it complements your other forms of industry exposure. Marketing intelligence company Outsell says 78 percent of businesses combine three or more major marketing methods. Include your social networking contacts on business cards and email to ensure you can be contacted on any medium.

4. Engage with your audience

The days of corporations being able to ignore human rights or environmental responsibilities are way behind us and community backlash is becoming harsher and wide-spread. Crisis-management documents are necessary more than ever to respond to customer complaints or queries. Don't be afraid to personify your brand, chat with followers and understand their needs. Market researcher Chadwick Martin Bailey says than 50 percent of fans or followers say they are more likely to purchase after connecting with the brand online, and that should carry over to B2B.

5. Report and adapt

This is where many companies throwing themselves into the online world get unstuck. Strategy consultancy AMR International says only half of B2B marketers formally analyse metrics to judge return on investment. There are ways of accurately finding out how your company is progressing every month with services such as Google Analytics or simply recording your interactions, followers or fans and new leads. If something in the data suggests that your return on investment is not manageable, you may need to modify your strategy.

Social media within business to business marketing is still fairly new and daunting, but it is possible. The young are the ones to educate you on its uses and the experienced are those who can warn you of the pitfalls. But ultimately, B2B social media use can save you money and take you into a whole new world of communication, fun and engagement with your marketplace.

To view Sharon’s blog in Ninemsn, click here.

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