Can Social Media Work for Midsized B2Bs?

Can Social Media Work for Midsized B2Bs?:
If you’re like most small or midsized B2B companies, you’re probably skeptical about the value of social media for your business. How could a Facebook page impact your sales environment? Would Twitter activity really bring in new leads? Are hours spent engaging on social networks a smart investment or just wasted time?
And the truth is, there’s no pat answer to these questions. In various B2B industries, from glass block designs to custom food packaging, the value of social media, in many cases, depends. Less luck and more strategy, business social media success depends in large part on the thought put into it.
So with that in mind, here are some ideas for getting the most out of social media for your business, from setting specific goals to finding ways to put those goals into action:
1. Set Measurable Objectives.
Just like any other marketing tactic, a social media plan needs to driven by a purpose. Why are you on social networks? What are you aiming to do? B2B companies may choose to be active in the social realm for various reasons: boosting SEO, generating brand awareness, setting yourself up as an authority, generating new leads, managing risk (i.e., being aware of what’s being said about your company and its products) or something else. The key is to identify your goals so you can strategize your social efforts towards accomplishing them.
2.  Know Your Target Audience.
“In the B2B world especially, it’s crucial to step back and look at your business and who your target customer is,” says Anita Campbell at Mashable. “A B2B target audience is usually narrower in scope than a B2C audience. So your use of social media needs to be narrower and more focused.” When you’re able to identify, very specifically, who it is that you’re trying to reach, you’ll be better able to choose which social networks to be active on, how to engage on those networks and when to use them. This kind of understanding goes a long way towards making your social media efforts efficient and effective.
3. Be Real.
In B2B just as much as B2C interactions, it’s important to communicate a sense of authenticity—because whether you’re selling to a company or an individual, it’s still a person who will be receiving your message and deciding if it’s worth hearing, and one of the biggest keys to being worth hearing is being real. As Angela Maiers writes at Social Media Explorer, “In social media, success is not only attributed to what you do; it is dependent on who you are and why you do. ‘Being’ and ‘doing’ are inseparable aspects of your presence and influence.“ How can you communicate this kind of honesty and trustworthiness online? “Take time to really get to know what matters to you,” Maiers suggests. “[H]one your story, and share passion in everything you do. Give people a reason to want to know more!”
4. Focus on Your Brand.
One of the most valuable aspects of social media engagement is how it can encourage the loyalty of large groups of people—and this is true even when it comes to B2B companies. “B2Bs may never enjoy millions of Facebook fans and Twitter followers, but the more they do to build brands rooted in consumer value and social responsibility, the better positioned they will be,” says Richard S. Levick of Fast Company. “In the Digital Age, speed (aka, no warning) and transparency (aka, the whole world is now watching) are the rule, not the exception. That means every B2B is now a B2C.” By focusing on building a presence for your company online, you effectively reach out to businesses, winning their support and encouraging their trust. “B2B brands need to speak to the larger issues that end users care about,” Levick adds, “and do so in the online venues those end users rely on to decide which companies to support and which to shun.”
4. Connect with Prospects.
You probably already collect email addresses and phone numbers of your prospects and existing customers—so why not their social network handles? The fact is, most B2B decision makers (nearly 85 percent!) are online and using social media to inform their decisions, say Forrester research estimates, whether that means using work-related blogs, Twitter or other sites. To further encourage connections with these users, add one-click follow buttons to your website to make it easy to find you on networks and add social sharing buttons to website pages and blog posts, if applicable.
5. Engage Prospects in Conversation.
Think of social networks as a fast, easy way to gain information on your customers—what they like, what they want, what you can do to meet their felt needs. Ask questions, be a learner, reach out. As Barbara Weaver Smith writes at BlogWorld, “Social media platforms make it easy to conduct surveys, to ask simple questions and to comment on your customers’ observations in real time.” Perhaps one of the greatest lessons of social media is that business success is more about your client, not you: that’s why it’s vital to get to know who your business prospects are through engagement online.
6. Provide Valuable Content.
Give prospects a reason to follow your brand by providing something valuable in return: important, helpful content. Chris Brogan says at Mashable, “Content is my best B2B social media lesson. I’ve seen many companies learn that providing interesting content (like video testimonials or how-to information) is a great way to encourage prospects, warm up leads and convert to sales opportunities.”
7. Get Inspired by Other Companies’ Success Stories.
If the power of social media still feels a little fuzzy to you, or if you’re unsure of what specific ways your business could put online social activity into practice, look around—because the proof, as they say, is in the pudding. There are countless success stories of how B2Bs have used and are using social media for their good. Consider these well-known companies:

• Cisco: This networking giant—active on Twitter, Facebook, YouTube, Second Life, Flickr and its own company blog—saw record-breaking results with a social media campaign that shaved $100K off its expenses.
• Blendtec: Blender maker Blendtec launched its now-famous “Will It Blend?” campaign in part to give salespeople an in with businesses. Now with over 190 million video views, the campaign has not only earned Blendtec various awards—but also a dramatic boost in sales (700% increase between 2006 and 2010 alone).
• American Express: Through its OPEN division, American Express is able to provide small businesses with access to advice and insight, frequently updated content and various videos to watch and share—and has seen dramatic results from the effort, increasing unique visitors by 525% in one year.
• Kodak: Company employees blog about products and services helpful for business at growyourbiz.kodak.com, and there’s a dedicated Kodak YouTube channel specifically focused on B2B—already with 200,000+ views.

And while to many midsized B2Bs, the success of these large companies may seem out of range, the fact is that these results actually demonstrate what’s possible, regardless of a company’s size, through effective social media strategy. According to Marc Brownstein at Advertising Age, “The fundamentals are the same — and the new channels to communicate are far more cost-effective today than ever before.”
So ask yourself: How could social media impact your company and its reach to business customers? What potential might you be overlooking without a social media strategy—and is that an opportunity you’re willing to miss?