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eMarketing Insight



 Social media strategy and plan for an
auto components B2B business segment
                (sample)




                                                ..1
The various processes that can eMarketing Insight
  benefit from social media adoption
       Key Processes                                   Rationale                               Social Media
                                                                                              Concepts in use
  Influencing the buying     B2B buyers seek more information and try to get most value-      •Lead
behavior                     returning purchase. Social media strategies could provide this   Generation
                             information at ease.                                             •Web 2.0
                                                                                              •Blogs
 Customer relationship       Capture customer feedback, tracking customer’s social habits     •Web 3.0
management                                                                                    •Social Graph
                                                                                              •Forums
                                                                                              •Social
 Competition management      Monitoring Competitors’ behavior in social media space
                                                                                              networking
                                                                                              •Social news
                                                                                              •Emotional
 Internal Knowledge          Employee engagement with the customers’ voice and internal       Marketing
management                   knowledge sharing                                                •Inbound
                                                                                              Marketing
                                                                                              •Outbound
 Capturing emerging market   So that we don’t miss on any emerging marketing opportunity      Marketing
opportunities                for innovative auto-component development.                       •eNewsletter
                                                                                              •cross-media
                                                                                              marketing

                                                                                                              2
Influencing the buying behavior
If you want to sell Johnny Green what Johnny Green buys, You have to see Johnny Green through Johnny Green’s eyes                 eMarketing Insight
    Buying                  Target Buying                                                               Social Media Strategies
    Process                 Centre Roles*

Pre-buying                 •Initiator                    •Share company content on various company owned social media outposts (e.g. based on Auto-
Stage                      •Gatekeeper                   expo)
(Brand                                                   •Create a weekly content focused eNewsletter
Awareness)                                               •Advertise content in targeted online channels( i.e. Auto-industry newsletters, networks )
                                                         •YouTube page
                                                         •A Facebook business page as a way to both communicate with realtor clients and to build brand
                                                         awareness. Facebook fan pages are today’s direct mail.
                                                         •Create blog editorial calendar every month to enforce daily posting and thorough but varied topic
                                                         coverage
                                                         •Create a dedicated area on the website to house content resources
Recognize Need             •Initiator                    •Identify the 3 most prevalent places where your customers (the respective Buying Roles) spend
                           •Influencer                   time. This may be:
                                                         a) Popular Automotive Forums
                                                         b) Auto-Industry blogs
Evaluate                   •Buyer
                                                         c) LinkedIn.
Options                    •User
                           •Influencer
                                                         •Seek out the 3 most prevalent channels through which customer seek information for ex.
                                                         a) Website
Eliminate                  •User                         b) Professional N/ws online & offline
Doubts                     •Buyer
                           •Influencer                   • Following the Blogs of these Buying roles to understand their interest areas and psychology to
                                                         make a more effective marketing and sales effort customized accordingly
Decide                     •Decider
                                                         •Participating in Final Consumer auto evaluation forums like http://www.automotiveforums.com/
                           •Influencer


                                                                                                                                                        3
 *source: Webster, F.E, and Wind, Y., organizational buying behavior, Pretence Hall, New Jersey, 1972
Customer relationship management                                     Social Media Strategies
              Activity                                                                               eMarketing Insight
Capture customer Experience           Providing social media platforms for interaction between customer and R&D people in
                                      our company like:
                                      • B2B Automotive Blogs
                                      •Automotive discussion forums etc.

                                      Providing social media feedback platforms like:
                                      •Products evaluation forums (for registered users only)



Customer Loyalty Programs             Building loyalty communities on difference social medias like facebook followers, twitter
                                      followers etc.

Listening Initiatives                 Online listening initiative to help us start pinpointing conversations and communities your
                                      customers and prospects are involved in.


      Competition management                                         Social Media Strategies

Monitoring competitors Social Media   Understanding what the competitors are doing in social media space so that we are able
activities                            to position our marketing efforts better.


Internal Knowledge management                                        Social Media Strategies

Knowledge sharing & collaboration     Promoting Internal social communities of employee like:
                                      •Employee Blogging
                                      •CEO Blogs
                                      •Twitter as a broadcasting medium for internal newletters
                                      •Daily discussions forums for employees                                                4
Capturing market opportunities                                                                     eMarketing Insight
                      “You’re missing out if you’re not listening and participating.”




    Capturing emerging market                                                  Social Media Strategies
          opportunities

New Product development                             Participating in different social forums to understand the changing needs of
                                                    the final consumer* (the automobile owner). Understanding:
                                                    • what they are saying,
                                                    •what they are complaining about, and
                                                    •what is their measure of making a choice etc.



  *Although this activity is also the part of our CRM initiative.




                                                                                                                              5
The detailed assessment of                                                                              eMarketing Insight
            our social media choices
   Figures could be managed
   according to the company             Strategic Fit                            Impact                          Feasibility            Total
         requirements

                                           Market
                               Alignment                      Expected Cost/Bene          Technical Resources Resources
Selection Criteria             with Goals
                                          Positionin Industry
                                                               Reach       fit
                                                                                 Customer
                                                                                            Risk    - Financial - People
                                                                                                                         Weight
                                              g

Weighting Scale                   15%         15%        10%         10%          15%      15%         10%           5%        5%   100%




Ranking Criteria:              Definitions:
Alignment with Company Goals How aligned is this project to my corporate goals & objectives?

Market Positioning             Does this initiative position us better in the auto-components market?
Industry                       Would adopting this Social Media channel be attractive in auto-components industry?
Expected Reach                 How popular is this Social Media channel? Will this provide a great deal of exposure for our products?
Cost/Benefit                   Does this initiative have a solid cost/benefit?
Customer                       Will this initiative help us better service and maintain our existing accounts?
Technical Risk                 What is the probability of overcoming the technical challenges of this social media project?
Resources - Financial          Do we have the financial resources to execute this social media initiative?
Resources - People             Do we have the skills & bandwidth to execute this social media initiative?                               6
eMarketing Insight
High level impact of these ideas

Better customer relationship management
Better preparedness for new customer acquisition
Capturing the voice of customer and customer’s customer
More prepared for capturing emerging opportunities
More brand awareness
Targeted promotions, hence better cost effectiveness
Employee involved with the lager objectives of the company
Increased communication effectiveness



                                                             7
eMarketing Insight
                                         List of References
•   www.emeraldinsight.com Indian auto components, VOL. 24 NO. 4 2008 STRATEGIC DIRCTION
•   Kasturi Rangan V.;What is industrial Marketing, HBS, Sept 23, 1994
•   Raymond Corey E.; Industrial Buying Behavior, “Procurement Management, strategy, Organizatio an Decision Making” 1978
•   C. Anderson James, A. Narus James, and Van Rossum Wouter; Customer Value Proposition in Business Markets, Harvard Business Review, March 2006
•   www.indialawoffices.com
•   http://www.automotiveforums.com/
•   http://www.2828.bz/
•   http://www.amrinternational.com/reports/b2b_online_marketing_in_the_united_states_assessment_and_forecast_to_2013
•   www.made-from-india.com
•   http://www.emarketer.com
•   http://www.radian6.com
•   http://www.socialmedia.com/about/
•   http://www.minonline.com/
•   http://www.web-strategist.com/blog/2009/02/25/data-b2b-buyers-and-technology-decision-makers-use-social-technologies/
•   http://www.web-strategist.com/blog/2010/03/05/altimeter-report-the-18-use-cases-of-social-crm-the-new-rules-of-relationship-management/
•   http://blogs.business.com/b2b-online-marketing/2009/businesscom-b2b-social-media-case-study/
•   http://www.business-strategy-innovation.com/2009/11/five-steps-to-successful-b2b-social.html
•   http://www.optify.net/marketing-blogosphere-summary/b2b-marketers-social-media-roi/
•   http://www.slideshare.net/Wgconn/toolboxcom-top-5-trends-in-b2b-social-media-usage-what-every-marketer-should-know
•   http://www.scribd.com/doc/25562733/Social-Media-for-B2B-Marketing-Whitepaper
•   http://www.inbound-marketing-automation.ca/blog/2009/12/06/how-to-run-a-social-media-campaign/
•   http://mashable.com/2010/03/25/b2b-marketer-lessons/
•   http://socialmediab2b.com/2010/04/b2b-social-media-number-one-reason/
•   http://socialmediab2b.com/2010/08/b2b-facebook-brand-pages/
•   http://www.marketingpilgrim.com/2010/05/social-media-in-the-b2b-world-a-talk-with-hoovers-tim-walker.html
•   http://www.socialmediabiz.com/resource/b2b-engagement-managing-your-social-media-mentions
•   http://webbiquity.com/social-media-marketing/11-myths-of-social-media-marketing/
•   http://dannybrown.me/2010/06/01/bb-marketing-social-media-close-but-no-cigar-yet/
•   http://ojoin.com/pr-speak/2010/01/5-ways-b2b-companies-can-use-social-media-for-lead-generation-lead-nurturing/
•   http://www.briansolis.com/2010/07/social-media-spend-to-double-this-year/
•   http://my.advisor.com/doc/04893
•   http://emarketinginsight.wordpress.com/2010/09/21/5-ways-for-b2b-companies-to-engage-on-facebook/
•   http://ideas8bottom.blogspot.com/2010/09/on-social-media.html



                                                                                                                                                    8
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Social media strategy for auto components B2B

  • 1. eMarketing Insight Social media strategy and plan for an auto components B2B business segment (sample) ..1
  • 2. The various processes that can eMarketing Insight benefit from social media adoption Key Processes Rationale Social Media Concepts in use Influencing the buying B2B buyers seek more information and try to get most value- •Lead behavior returning purchase. Social media strategies could provide this Generation information at ease. •Web 2.0 •Blogs Customer relationship Capture customer feedback, tracking customer’s social habits •Web 3.0 management •Social Graph •Forums •Social Competition management Monitoring Competitors’ behavior in social media space networking •Social news •Emotional Internal Knowledge Employee engagement with the customers’ voice and internal Marketing management knowledge sharing •Inbound Marketing •Outbound Capturing emerging market So that we don’t miss on any emerging marketing opportunity Marketing opportunities for innovative auto-component development. •eNewsletter •cross-media marketing 2
  • 3. Influencing the buying behavior If you want to sell Johnny Green what Johnny Green buys, You have to see Johnny Green through Johnny Green’s eyes eMarketing Insight Buying Target Buying Social Media Strategies Process Centre Roles* Pre-buying •Initiator •Share company content on various company owned social media outposts (e.g. based on Auto- Stage •Gatekeeper expo) (Brand •Create a weekly content focused eNewsletter Awareness) •Advertise content in targeted online channels( i.e. Auto-industry newsletters, networks ) •YouTube page •A Facebook business page as a way to both communicate with realtor clients and to build brand awareness. Facebook fan pages are today’s direct mail. •Create blog editorial calendar every month to enforce daily posting and thorough but varied topic coverage •Create a dedicated area on the website to house content resources Recognize Need •Initiator •Identify the 3 most prevalent places where your customers (the respective Buying Roles) spend •Influencer time. This may be: a) Popular Automotive Forums b) Auto-Industry blogs Evaluate •Buyer c) LinkedIn. Options •User •Influencer •Seek out the 3 most prevalent channels through which customer seek information for ex. a) Website Eliminate •User b) Professional N/ws online & offline Doubts •Buyer •Influencer • Following the Blogs of these Buying roles to understand their interest areas and psychology to make a more effective marketing and sales effort customized accordingly Decide •Decider •Participating in Final Consumer auto evaluation forums like http://www.automotiveforums.com/ •Influencer 3 *source: Webster, F.E, and Wind, Y., organizational buying behavior, Pretence Hall, New Jersey, 1972
  • 4. Customer relationship management Social Media Strategies Activity eMarketing Insight Capture customer Experience Providing social media platforms for interaction between customer and R&D people in our company like: • B2B Automotive Blogs •Automotive discussion forums etc. Providing social media feedback platforms like: •Products evaluation forums (for registered users only) Customer Loyalty Programs Building loyalty communities on difference social medias like facebook followers, twitter followers etc. Listening Initiatives Online listening initiative to help us start pinpointing conversations and communities your customers and prospects are involved in. Competition management Social Media Strategies Monitoring competitors Social Media Understanding what the competitors are doing in social media space so that we are able activities to position our marketing efforts better. Internal Knowledge management Social Media Strategies Knowledge sharing & collaboration Promoting Internal social communities of employee like: •Employee Blogging •CEO Blogs •Twitter as a broadcasting medium for internal newletters •Daily discussions forums for employees 4
  • 5. Capturing market opportunities eMarketing Insight “You’re missing out if you’re not listening and participating.” Capturing emerging market Social Media Strategies opportunities New Product development Participating in different social forums to understand the changing needs of the final consumer* (the automobile owner). Understanding: • what they are saying, •what they are complaining about, and •what is their measure of making a choice etc. *Although this activity is also the part of our CRM initiative. 5
  • 6. The detailed assessment of eMarketing Insight our social media choices Figures could be managed according to the company Strategic Fit Impact Feasibility Total requirements Market Alignment Expected Cost/Bene Technical Resources Resources Selection Criteria with Goals Positionin Industry Reach fit Customer Risk - Financial - People Weight g Weighting Scale 15% 15% 10% 10% 15% 15% 10% 5% 5% 100% Ranking Criteria: Definitions: Alignment with Company Goals How aligned is this project to my corporate goals & objectives? Market Positioning Does this initiative position us better in the auto-components market? Industry Would adopting this Social Media channel be attractive in auto-components industry? Expected Reach How popular is this Social Media channel? Will this provide a great deal of exposure for our products? Cost/Benefit Does this initiative have a solid cost/benefit? Customer Will this initiative help us better service and maintain our existing accounts? Technical Risk What is the probability of overcoming the technical challenges of this social media project? Resources - Financial Do we have the financial resources to execute this social media initiative? Resources - People Do we have the skills & bandwidth to execute this social media initiative? 6
  • 7. eMarketing Insight High level impact of these ideas Better customer relationship management Better preparedness for new customer acquisition Capturing the voice of customer and customer’s customer More prepared for capturing emerging opportunities More brand awareness Targeted promotions, hence better cost effectiveness Employee involved with the lager objectives of the company Increased communication effectiveness 7
  • 8. eMarketing Insight List of References • www.emeraldinsight.com Indian auto components, VOL. 24 NO. 4 2008 STRATEGIC DIRCTION • Kasturi Rangan V.;What is industrial Marketing, HBS, Sept 23, 1994 • Raymond Corey E.; Industrial Buying Behavior, “Procurement Management, strategy, Organizatio an Decision Making” 1978 • C. Anderson James, A. Narus James, and Van Rossum Wouter; Customer Value Proposition in Business Markets, Harvard Business Review, March 2006 • www.indialawoffices.com • http://www.automotiveforums.com/ • http://www.2828.bz/ • http://www.amrinternational.com/reports/b2b_online_marketing_in_the_united_states_assessment_and_forecast_to_2013 • www.made-from-india.com • http://www.emarketer.com • http://www.radian6.com • http://www.socialmedia.com/about/ • http://www.minonline.com/ • http://www.web-strategist.com/blog/2009/02/25/data-b2b-buyers-and-technology-decision-makers-use-social-technologies/ • http://www.web-strategist.com/blog/2010/03/05/altimeter-report-the-18-use-cases-of-social-crm-the-new-rules-of-relationship-management/ • http://blogs.business.com/b2b-online-marketing/2009/businesscom-b2b-social-media-case-study/ • http://www.business-strategy-innovation.com/2009/11/five-steps-to-successful-b2b-social.html • http://www.optify.net/marketing-blogosphere-summary/b2b-marketers-social-media-roi/ • http://www.slideshare.net/Wgconn/toolboxcom-top-5-trends-in-b2b-social-media-usage-what-every-marketer-should-know • http://www.scribd.com/doc/25562733/Social-Media-for-B2B-Marketing-Whitepaper • http://www.inbound-marketing-automation.ca/blog/2009/12/06/how-to-run-a-social-media-campaign/ • http://mashable.com/2010/03/25/b2b-marketer-lessons/ • http://socialmediab2b.com/2010/04/b2b-social-media-number-one-reason/ • http://socialmediab2b.com/2010/08/b2b-facebook-brand-pages/ • http://www.marketingpilgrim.com/2010/05/social-media-in-the-b2b-world-a-talk-with-hoovers-tim-walker.html • http://www.socialmediabiz.com/resource/b2b-engagement-managing-your-social-media-mentions • http://webbiquity.com/social-media-marketing/11-myths-of-social-media-marketing/ • http://dannybrown.me/2010/06/01/bb-marketing-social-media-close-but-no-cigar-yet/ • http://ojoin.com/pr-speak/2010/01/5-ways-b2b-companies-can-use-social-media-for-lead-generation-lead-nurturing/ • http://www.briansolis.com/2010/07/social-media-spend-to-double-this-year/ • http://my.advisor.com/doc/04893 • http://emarketinginsight.wordpress.com/2010/09/21/5-ways-for-b2b-companies-to-engage-on-facebook/ • http://ideas8bottom.blogspot.com/2010/09/on-social-media.html 8