Engaging Current Customers through Social Media

Social media has been the hot topic of discussion for quite some time now. Pundits banter back and forth with some declaring social media the end-all/be-all marketing discovery of the century while others rail against the hype and rank the status elevation as overrated. Marketers are always eager to search out the latest discovery, as they should. Oftentimes, however, there is a tendency to gravitate to the shallow end of “newness” pool by declaring the end of the previous and glorifying the golden age of the latest technology enhancement without testing and validating effectiveness.

As with any new technology, social media has been investigated and tested by many marketers, warily accepted by some businesses and whole-heartedly embraced by others after having proven its validity. Despite the broad-based discussion, social media in reality falls in the mid-range of the marketing continuum overall while providing some very real, very effective advantages that complement the many other marketing tools available.

While both B2C and B2B businesses have logged more and more experience with social media, some have realized their goals and met their expectations. Others have misaligned their goals with the reality of social web marketing and were disappointed with the results. Social media may not necessarily be the ultimate answer to every company’s marketing question but then again, it does offer some very important advantages that can result in business growth that is most cost-effective.

Social media serves a very valuable purpose when it comes to engaging current customers. This is one of the key advantages that social media provides to both B2C and B2B businesses.

The keen marketer recognizes customers’ value drivers and provides products and services that provide perceived satisfaction. Today’s buyers, be they B2C or B2B, are searching for suppliers who can:

• Satisfy my need at a cost/value ratio that is acceptable to me
• Reinforce my buying decision to reassure me, my peers and my boss
• Provide me with access to other “smart” buyers like me.

Social media can work to your advantage, particularly in assisting with customer reinforcement, reassurance and linkage or connectivity. Those businesses that have effectively applied social media marketing to build a strong customer/user network and to reinforce customer loyalty have been handily rewarded. Research conducted by Network Solutions and the Center for Excellence in Service at the University of Maryland’s Robert H. Smith School of Business confirmed that “nearly two-thirds of companies that used social media as a customer engagement channel found success”.

Social media marketing participants not only buy more, they encourage business associates, friends, relatives and even strangers to consider the benefits of purchasing from their supplier. Business people and consumers alike want to share their knowledge of source of supply. It is natural for consumers as well as company buyers to show off their brand choices. This word-of-mouth advertising is extremely valuable for continued business growth.

In addition, many buyers need continuous reinforcement to reassure that they are “correct” in their buying decisions. They seek the approval of peers as well as superiors. Social media outlets can help a supplier in supporting its brand by building upon user-proven success stories that validate its products and services. Together, the supplier and its customers that are active social media participants can “sell” the company’s products to new or doubting prospects while convincing current customers to buy more.

According to an August 2010 study by ExactTarget, 39% of Facebook users are motivated to “Like” a company in order to show their support for the company to others. Also, 34% indicated that they wanted to stay informed about the activities of the company. This reason was followed closely by those who indicated they wanted early updates on future products (33%). Buyers want to feel appreciated, they want to be “in the know” and they seek the communal aspects that social media outlets provide.

Building a strong online user community for current customers allows them to connect and share anecdotal stories summarizing the creative application of your product, proven performance even in exceptional situations and product longevity. A company’s user community is the place where customers can acquire product-specific advice from other users. They can also gain access to unique or specialized information, be it provided by the company or another user.

Your social media outlet also provides an ideal opportunity to communicate special promotions, offer discounts, provide coupons or offer free samples. Your loyal customers should always be the first to receive such offers, ahead of the general marketplace. For B2B companies, the social media outlet can also be used to promote upcoming trade shows, build anticipation and acceptance of new products, communicate testimonials from satisfied end users, provide technical information and tips that enhance product performance and longevity, and so much more. Enticing company-initiated communications placed on social media outlets can be very effective in driving traffic to your company website.

Companies must not overlook other opportunities that a strong social media marketing program can offer in terms of increased search rankings. In a 2010 study conducted by BtoB Magazine and Business.com, 45% of the businesses surveyed were using social media to improve search results and had experienced an increase in rankings on the major search engines. It appears that “social media has a natural synergy with search marketing”, according to eMarketer Inc., as indicated in their September 2010 article entitled, B2Bs Tap Social to Boost Search. In addition to all of the other benefits, this little “bonus” is nothing to be passed over lightly.

There are many nuances to social media. Choose from the various options available – e.g., blogs, LinkedIn, Facebook, Twitter, etc. - and do so realistically to align with your company objectives. Apply metrics that are a fitting measure of your progress, and implement your program effectively with value-based communications that portray the integrity of your products, services and your business.

Social media can be an effective marketing vehicle that offers many advantages to the supplier company as well as the buyer/consumer. Rather than considering social media as merely another form of communication in an already congested marketplace, I encourage you to consider two of social media’s most unique advantages - interactivity and flexibility. Social media provides you with a direct and yet inexpensive means by which you can connect with your customers. If you do nothing else with it, use it to engage your current customers, reinforce their purchasing decisions and allow customers to join your community and interact with your company as well as other users. Hopefully, like so many other companies, you will find that some of your best sales personnel may not even be company employees.