DIGIVIZER CEO Emma Lo Russo addressed the Sydney’s CEO institute on the subject of how the social web supports B2B business development. The talk was given on 15th April 2014. This is a synopsis of that presentation, which was given under Chatham House rules.
One thing for certain that characterizes the social web is large numbers: 11+ million Australian Facebook users, 2.9+ million Australian Twitter users, probably over 1 million Australian Instagram users, and 2.4+ million Australian LinkedIn users.
But these large numbers are only the starting point to any meaningful B2B social business development strategy.
Because they are the foundations, the start points, for the four attributes that do count, and which do have meaning when it comes to exploiting the social web in the pursuit of new (and retained, and expanded) business.
The four attributes are:
Who – who is talking about your company, organization, brand, competitors, products, services> With whom are they sharing this information? Do you know who these people are? Are they the right people to talk to?
Why – why are they having these conversations, have they had a direct experience or is it heresay? Are they talking because of external pressures, are they in the market for something you sell?
Where – where they are geographically, where they are in the buying cycle, where they are in their decision making, where do they fit in their networks of influence?
When – when did they say what they said, when might they be ready to act, when should you act, so that you can maximize all the investment you are about to make in nurturing this lead or existing customers?
And the social web is never about simplistic counting of mentions, Likes, reTweets, friends, positive or negative mentions.
That start point is a very large number. Our view is that you need to find the right individuals (are they may well be a lot of them) who really count. Because all of these people have now chosen to talk on the social web. So they are ‘in the market’ to talk (and they are talking already).
The task then is to find out who the real influencers, customers, and prospects are, understand why they are ‘in the market’, what’s influencing them, and then map and match that to your organization. You can then create the best business development strategy that will deliver the best ROI and ROE.