The Growing Case for B2B Businesses to go Digital
While the use of social media has become second nature to consumer brands, business-to-business (B2B) organisations have been much slower to utilise the likes of Facebook and Twitter, or RenRen and Weibo, their Chinese equivalents. Things are changing, however, with businesses learning how to harness the potential of digital to transform the way they communicate. Recent ground-breaking B2B campaigns should encourage other organisations to reassess what social media can do to help them reach and engage their audiences.
Gaining Social Currency
The business case for companies that depend heavily on influencing consumers to adopt social media is clear. Such brands seek to gain ‘social currency’ – interacting with their markets by sharing information and securing influence in the process by leveraging individuals’ own followings. It’s a cost efficient, engaging approach to marketing and all manner of brands from Cathay Pacific to Coca-Cola have sophisticated, multi-channel digital campaigns.
In a fast-changing and fragmented landscape, learning how to exploit digital to meet objectives has been harder in B2B. Now, the ecosphere has matured and several channels have reached critical mass on a global scale (with some notable exceptions, particularly in China), making them much safer bets for long-term investment.