Posted by: Gloria Dutton, Marketing Coordinator

On my recent post about social media, someone asked a great question about how a traditional B2B company might venture into the social media space, so I thought I’d dig in a little deeper.

The difference between how B2C companies and B2B companies engage in social media comes down to target audiences and the online avenues they’re likely to explore. It’s important to understand, however, that social media is just as valuable a resource for B2B companies as B2C… if not more.

One of the great misconceptions about social media relates to what’s actually out there. When you first hear “social media,” you might think of trendy social networking sites like MySpace and Facebook. Since Facebook was originally designed for a college audience, it might not be the best match for your business goals right now. (That’s not to say that you should write it off entirely. With some knowledge growth and increases in use, it might just evolve into a worthwhile outlet for you.)

A first best step for B2B would be to consider the information sharing arenas, such as blogs and user group forums. According to Socialtext.net, as of May 17, 2008 around 11% of Fortune 500 businesses had active blogs dedicated to company news and/or the products they provide. Some of these companies are big names like Accenture, Boeing and General Electric. Check out the list: http://www.socialtext.net/bizblogs/index.cgi.These companies use blogs as an information source for both current clients and prospects interested in learning more. Blogs topics include information ranging from new product offers, tips for product use, details about product benefits or comparisons of their products against the competitions’. Also, depending on the type of blog, customers come not only to be informed but to participate in the discussion, adding their own input. That’s when the blog gets interesting and starts to act as a referral generator.

A great spin-off of the blog is the user group forum. These social media sites encourage current users to post their own experiences with and comments about products. This type of social media is a great outlet, as it’s used to spread the word from customer-to-customer. Plus, prospective buyers have access to free information from unbiased sources who have already tried out the products. Finally, since these forums are run by the purchasers, reading their posts can be a source of free market research for the company. When consumers have concerns or questions, you know right away and can respond through this avenue. It’s important that you don’t take advantage of the forum, however, by using it as an arena for advertising or sales pushes. Customers won’t come back if they sense that the authenticity of the forum has been compromised.

Another great entry point into social media is online video outlets. You might think YouTube is only for humorous home videos, but for the B2B world, there are many informational videos that not only give prospects a step-by-step demo, but also add in key competitive advantages to help customers decipher the benefits of their product. For example, I saw that one manufacturing company provides an entire demonstration of a hydraulic product on YouTube. It has already been viewed more than 500 times since March, which is great for something on such a niche topic. Also, it’s good to experiment with different types of videos. Does your customer base respond better to in-depth explanations or high-level overviews? Do informative videos attract more attention, or do the entertaining ones? If you create a video project, make sure there is an embeddable web version so that it’s easy to share.

While I mentioned that MySpace and Facebook may not be the best places for a traditional B2B corporation to jump into social media, there are some very good professional networking sites that are an excellent place to start. Check out LinkedIn, for example. You can create groups around your product categories and provide yet another way for potential clients to find you. And you can find them too.

Perhaps the easiest way to venture into social media is by updating your current marketing methods by adding social media tweaks. For example, add social bookmarking site links to your web pages to encourage sharing. As with traditional marketing, the easier it is for a customer to spread information about you, the more willing they are to do so. Be sure your site also has links to popular RSS readers, so that you can encourage visitors to sign up for notifications when your content is updated. Finally, once you have e-newsletters and blogs in place, cross link between them. This will not only encourage visits to the blogs, but it also gives your customers a place to comment on your content.

So, how do you know if any of these social media tactics is impacting your current marketing? Luckily, social media success can be monitored the same ways other interactive marketing activities are. And don’t feel as if you have to jump in all at once. Try pilot programs in different areas, and then further develop the highest performing areas.