Whether they believe it or not, social media does apply to B2B marketers and communications executives. The online conversation has moved well beyond the retail, consumer products and technology space and into the hallowed halls of manufacturing, distribution and service. It’s leaving many B2B marketers and C-suite executives feeling much more exposed than they’re accustomed to. But tabling the social media discussion until everyone gets comfortable with the idea could be a costly mistake.
Companies exploring newer media outlets should start by paying attention to what’s being said online. Monitoring the conversation can give company leaders valuable insight into their customers, alert them to product defects and other potential vulnerabilities, provide usable product development ideas, arm them with up-to-the-minute competitive and market data and reveal myriad other business opportunities.
Having listened, a company will be in a much better position to evaluate the appropriateness of using social media as part of its public relations, marketing, human resources or other business strategy.
Now, let’s address some of the issues weighing heaviest on the collective B2B mind.
â–¶ Where are we going to find the time? Where does the function reside? We all find ways to get things done when we’re committed to them and when we know they are going to help us achieve our business goals. That’s the real question we need to ask ourselves: Will this deliver the desired business outcome? If not, don’t do it. If yes, divide and conquer.
As to who specifically participates in a social media initiative, it depends. Assure your clients, though, that the computer geek (and that term is used with great affection) doesn’t suddenly become the subject expert. And the subject expert doesn’t have to become a techie, either. Most important: Be transparent. That’s the golden rule of social media.
â–¶ How do we maintain some control over the message? People are going to voice—and sometimes broadcast widely—opinions about companies and products and those opinions may not always be positive.
We can’t stop this. What we can do is listen and, when appropriate, respond to what they say. The sooner (and better) we understand the social Web, the sooner we’ll be in a position to make the new world work for us. The goal is to get the snowball of conversation going in the right direction. It can be a powerful thing.
â–¶ What about the whole competitive issue? It is in the DNA of B2B companies to be extremely cautious about any sharing of information, particularly when it comes to customer relationships and new product development. But when companies discuss information in open forums, including ideas that may not be perfect or polished, they build credibility with their audiences. Where they limit public access and remain closed with information, they create the occasion for suspicion.
Now is the time to reexamine discriminations about what can be shared with key audiences seeking real-time dialogue.
â–¶ How will we get legal on board? It’s tough to expand a company’s exposure to the market and at the same time reduce its exposure from a legal standpoint. But there are ways to manage the process.
For example, many companies establish parameters for online comments by company associates. In the most conservative cases, there may be guidelines identifying the limits of what can be said, which areas are off limits and which are open for personal perspective, reflection or interpretation.
In the case of company-sponsored forums or blogs, an administrator can opt to review posts/comments before they’re published—especially initially, as everyone gets comfortable with the idea.
Companies also have a right to remove comments that do not follow posted guidelines. A clear and pervasive mission helps, too. Discussion groups can be by invitation only and can be password protected. A company with high integrity that trusts and values its employees, customers and shareholders will be able to make the leap.
â–¶ What’s it really going to do for me? And at what expense? How am I going to measure and report the value delivered? There are technologies and service providers working hard to perfect social media monitoring and measurement. (For a ranking of tools/service providers, consider starting with Forrester Research.)
With these tools, you can very easily detect peaks and valleys in the volume of online conversation and compare that to Web site hits, inquiries, sales or any number of other metrics. In addition, you can learn a lot by simply reading the content and judging the quality of the conversation.
The ability to know and understand customers’ concerns in real time is certainly valuable in and of itself. To ignore this intelligence can be costly in terms of missed opportunities.
When it comes to participating in conversations or seeding messages, social media marketing is relatively inexpensive—or at least has the potential to be. There’s no printing, little (if any) production and often no charge for space. And because Web 2.0 lends itself quite nicely to targeting specific demographics, behavior and work styles, there’s very little waste.
But the question of value is more complex than that. Value is always about choices. Will you continue in a vein that feels safe because you have always done it? Or, will you begin to divert a portion of your resources toward a testing of the waters in the social media space where you can observe the audience response in actual conversations in real time? The online audience is verifiable and real in a way that the presumed audience for mass marketing may not be. Ultimately, its effect may be greater.
Now is the time to find out. Now is the time to begin the experiment, to initiate the pilot project, to listen to and connect with customers (or other constituents) through direct, immediate, online communication. The experience will position your company to capitalize on the online movement as it grows. PRN
CONTACT:
Beth Hallisy is a partner with Marcus Thomas LLC and a member of the PRSA Counselors Academy. She can be reached at [email protected].