Our most recent b-to-b social media survey examined a wide range of issues, including strategy, budget, tactics and measurement. While social media appears to have moved past the “shiny new toy” phase, clear goals are still evolving. Companies must understand opportunities and limitations as they move beyond trials to integrate social media with more established marketing functions
During the past 24 months, SiriusDecisions has collected data and insight about the evolution of social media in b-to-b as related to awareness, adoption, measurement and much more. In this post, we review a few findings from our 2009 Social Media in Business survey.
A cross-section of b-to-b organizations that sell complex, enterprise b-to-b products and services participated in the quantitative portion of the survey, which was co-sponsored by social media vendor Visible Technologies. Appropriate data and insight from SiriusDecisions benchmarking activities, consulting engagements and client inquiries were added to the sample as appropriate. As observed in prior surveys, all phases of marketing – including reputation initiatives – are now being more closely evaluated to determine return on investment. While there is a general understanding that social media is not necessarily the most efficient direct demand creation engine (especially in the short term), leading-edge organizations are increasingly testing new ways of integrating social media initiatives with other key marketing activities. Once organizations have gained working knowledge of how various social media activities can impact their prospects and customers at which particular points in the buying cycle, they can better align social media content to demand creation and sales enablement.
Our survey tracked the behaviors of b-to-b organizations around a number of social media activities. Specific observations in two areas include:
One: Usage and Objectives. We asked organizations to rank order how they are using social media, with the most important objectives listed first. While there was no dominant consensus, generating awareness ranked highest (26% of respondents) followed by engaging with customers to promote loyalty and retention (18%), and interfacing with analysts and other influencers (16%). Marketing specific products finished fourth in the rankings (15%). Each of the top four responses points to active, information-to-the-market type activities; monitoring and responding to customer support issues finished immediately behind the group. Perhaps this information feedback use is assumed to be part of all social media initiatives; however, the value of social media to constantly take the pulse of the market and its perception of your organization’s reputation should not be underestimated. Without a formal process or dedicated resources to monitor market perception, a company can be easily overwhelmed by misunderstandings or misinformation, hindering its ability to make any headway in the social media space at all.
Two: Demand Generation Support and Alignment. Studies by SiriusDecisions of broader reputation activities during the past 24 months have revealed a growing trend toward integrating reputation and demand creation. In our last survey, 33% of organizations reported that more than half the time, they linked their reputation with demand creation activities. In our social media survey, only 15% of respondents reported that more than half the time, they use social media to support their demand creation efforts. More than two-thirds of respondents reported that 25% of the time or less, they align social media with their demand creation activities. Clearly, organizations are still in need of a strategy to best leverage social media within the demand creation process. Organizations must begin to consider the ways that social media tactics can be applied beyond the top of the demand waterfall, such as for pipeline acceleration efforts and more comprehensive, just-in-time sales readiness.
Slowly but surely, social media technologies and systems are emerging from their initial perception as just a shiny new toy to be played with, then discarded. As organizations identify and recognize the risks and rewards of social media, they have begun to clarify best usages and objectives for specific initiatives, as well as to learn both the nuances and positioning of various social media properties such as Twitter and Facebook. Knowing which watering holes are frequented by which audiences – and what types of content can best influence them – can help marketing and sales organizations better customize messages. All of this guidance and information helps organizations understand the optimal role of social media for supporting broader demand creation and sales initiatives.