Prospecting High Value Customers with Social Media
Can social media marketing drive B2B inbound leads? I think so. Marketo’s Jon Miller suggested in a blog post that driving inbound leads through social media is ultimately about a company’s brand presence and the perceived risk associated with that brand’s purchase. Through references to Enquiro’s groundbreaking research into the B2B buying process, Miller implies that buyers use various “risk control mechanisms” to mitigate their risk when making a purchase decision – with the “wisdom of crowds” being among those mechanisms.
If we as buyers do not have a personal experience with a brand, or know someone who has, we generally defer to (and trust) the “wisdom of crowds” and their conversations about a particular brand or product to inform our purchasing decisions. In the modern marketing world, in which social media and social CRM are moving at break-neck pace, the crowd-sourcing mechanism will be a primary influencer of how, when and where B2B consumers decide to make a purchase. The once-isolated customer is now an active consumer of expert opinions, product comparisons and peer reviews, using the Internet and massive social networking to gather the necessary information for making an informed purchase decision.
The new participatory role of the consumer has fundamentally changed B2B marketing by presenting companies with the opportunity to excite and engage prospective customers in their prevailing platform for conversation. Now that the consumer has control (as discussed in our recent whitepaper, Forget the Funnel – a New Look at the Stealth Buyer), companies who wish to have a voice in the conversation must develop integrated marketing strategies that deliver consumers offers and experiences in an authentic and relevant way.
So how do you generate inbound leads with a social media strategy? Develop an integrated marketing communications program that strengthens your brand within the conversation, builds referrals, communities and influencers and makes sense of your social footprint – a strategy that will pave the way for attracting highly qualified inbound leads. Miller rightfully asserts that companies thinking strategically about demand generation must commit a significant portion of their efforts to using social media as a means for tapping the wisdom of crowds and conversations and building trust for their brands and products. Just as it was in the traditional sales cycle, trust is a critical component to building a customer relationship, and companies can leverage social media to grow their consumer relationships, enhance B2B lead generation efforts and ultimately, convert qualified prospects into revenue for their brand.
Many companies in today’s market might be struggling with the costs of increasing their physical footprint. But with the right strategic approach, companies can afford to increase their digital footprint to reach more prospects, increase engagement and generate highly qualified inbound leads.
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