Social media marketing for B2B

Jul 24, 2015   //   by MangeshWagh   //   Digital marketing  //  No Comments

“My business is of B2B type, do I need social media marketing?”

Yes! And an emphatic one!

Here is an attempt to look at some simple & obvious and some not so obvious but important reasons behind that emphatic ‘yes’.

Not going to talk about branding and stuff like positioning, presence and reach in this article. It is known how social media can help all of that. When a B2B marketer/business owner has this on mind, ‘does my business really need social media marketing’, he/she obviously means ‘can social media marketing help me win more customers, increase my top line and, bottom line’. So, first let’s try to look at answers for that.

What does a potential do across the sales cycle? Typical sales cycle – suspect > prospect > approach > negotiation > close > order or say, lead > hot lead > request for proposal > negotiation > order closure.

Earlier phases of sales cycle

What do your potential customers do in the earlier phases of the sales cycle? Purchase decision makers try to get information about your firm – they try to make up a perception about your firm without meeting you. What is the simplest way to get your information without you knowing it? No prizes for guessing, right? They browse internet – check your website, search about you/your firm on web and try to look at hints which help them decide whether your firm fits the bill or not. The more you have on web, better is the perception. To have more about you on web in public domain, there is absolutely nothing as effective (and cost effective too) as social media.

You attend a conference or host a marketing event or put up a stall in some exhibition or you meet somebody relevant to your business – what happens there? You exchange biz cards. What happens then? Someone whom you have impressed there goes back and starts looking for you on web. Here is the chance to make breakthroughs. If your web presence is impressive, you are going to hear from the impressed potential customer very soon.

Get more RFPs/RFQs with a strong presence on social media!

 

Later phases of sales cycle

In later phases of the sales cycle, your potential customer compares your proposal with your competitors’ proposals. If you have really made a mark already with your web presence and face to face presentations, your higher side quote is not going to disappear from the race for price. In case, you have not made that mark, you have no choice but to tackle the price war – race towards bottom, as they say. I have seen some sales people regret on winning large sales order for not being able to meet their bottom line target per sales order. This shouldn’t happen to your sales people, should it?

When you use social media to promote superiority of your products/services, people, processes, technology and work culture, you are comprehensively reducing the probability of making your sales people participate in that race towards bottom. When your potential customer sees ‘thought leadership’ in your firm, you are in the position of converting more leads into business and that too without hurting your bottom line.

Convert more leads with an impressive presence on social media!

Get the price you deserve by establishing the thought leadership on social media!

Hence, in your overall digital marketing plan, social media marketing is worth finding the top priority.

As said earlier in this article, not going to write about what else is possible for B2B marketers on social media . How much ever tempting it is to write about! J

 

Do have a look at how Signy can help you with social media marketing and overall digital marketing.

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