Social media isn’t just for B2C anymore. B2B social media spending is expected to increase 9.9% in 2010. You may think that businesses are just made up of people so the same rules and tactics apply as for B2C, but as with just about everything else, social media gets a little different when you get business involved. Following are 10 trends that I see in B2B social networking for 2010.
1. Online networking for new business
New business development is the number one reason for companies to get involved with online networking in the first place and the number of businesses coming to this realization is growing every day. Surveys show that 60% to 80% of respondents primary use of online networking is for new business development; a number that is up 33% from the previous year. With the ROI for social networking proven in this area expect that new uses for social media to be explored.
2. Influencers will draw businesses to social media
In the first quarter of 2009, 30 percent of B2B trade magazines closed. That sudden reduction in a channel for PR and influencers increased the migration online that was already taking place for these groups. This new reality is forcing business’ hand and requiring that they engage influencers online and though the social media channels that they are using to build credibility.
3. Recruiting will continue going social
Not only are HR departments vetting job candidates through a search of social networks, but they are also saving money doing so. Intel saved millions of dollars a year in fees by finding senior managers through LinkedIn rather than using recruiters. US Cellular not only saved money by using LinkedIn they also believe that they found good candidates faster.
4. Mobile and location based social networks are on the rise
For the past 3 years I have heard the “year of mobile” heralded and it seems to have actually arrived. Riding that wave are geolocation-based social networks like Gowalla and Foursquare as well as the introduction by Google of search results near you. All of these consumer trends are making their way into business applications and CRM data. Knowing when and where leads and clients are is a natural way to improve relationships and increase sales.
5. Social media publishing will get more multi-media
In order to stand out in social media expect to see more and more video and images in B2B social media. Of course there are plenty of side benefits to this tend that encourage it such as taking advantage of the second largest search engine (YouTube), shooting for a video to go viral, and generally better explaining their products and services.
6. Search driving social media engagement
The inclusion of real-time search results in Google, Bing and Yahoo!’s search engines has added another ally to the forces pushing businesses into social media, the SEO. The last thing that a search engine optimization agency wants to see is all of their hard work go to waste because of another company’s buzz on Twitter and Facebook. Social networks are the latest front in the war for search engine rankings.
7. Internal social networking
Business social networking is connecting companies and customers and employees are using social networks to connect with friends, but what about connecting businesses and employees? Expect internal social networks both formal and informal to bridge that gap and harness the power of crowds for internal R&D, market prediction, answering customer support questions while reducing employee turnover.
8. Banning social media in the workplace
The flip side of B2B social media is the concern about lost productivity and security risks when employees have access to online social networks at the office. One study estimated an increase in productivity of 1.5% if access to Facebook was blocked and another estimated that personal use of social networks on the job cost the British economy 2.3 billion dollars a year. As a result only 10% of employers in a recent study gave employees full access to social media sites like Facebook and Twitter while at the office. Expect this to continue to be an issue.
9. Online social networking encourages offline networking
All that time on Twitter, YouTube and Facebook seems to be getting companies’ warmed up for some face-to-face time. WeCanDo.biz reports a 36% increase over last year of respondents who regularly attend face-to-face meetings and that 46% of respondents planned to increase their budget and time dedicated to live meetings.
10. There are no more excuses for not monitoring social media activity
Social media monitoring has gotten better and easy and available at a wide price range that there really isn’t an excuse for not doing it anymore. In addition, with story after story in the mainstream media of clueless companies dealing with customer uprisings you have been warned and should consider yourself accountable.
Loading ...
Forgot to mention this a couple weeks ago when the latest release of Foursquare for BlackBerry came out, but the application has added a tab in the top navigation for Tips. The purpose of the screen is obvious enough, it’s a listing of tips for places near where you are and from each tip you can link to the venue, mark tips as done and see the profile of the person who left the tip.
It’s not earth shattering, but it’s a move toward expanding activity on Foursquare beyond just checking in to earn points, mayorships and badges. Leaving tips has been sort of a secondary feature on the social network and is not promoted, but by making these tips a different way to explore the locations around you, not just by showing their names (that you probably already know), but what about them makes them interesting.
