Comments on: Does the social web primarily benefit service companies? http://www.businessesgrow.com/2009/12/01/does-the-social-web-only-benefit-service-companies/ Marketing. Social Media. Humanity. Wed, 08 Feb 2012 12:14:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Evolution of Social Networks as Businesses: Past, Present, and Future http://www.businessesgrow.com/2009/12/01/does-the-social-web-only-benefit-service-companies/#comment-1433 Evolution of Social Networks as Businesses: Past, Present, and Future Tue, 08 Dec 2009 23:13:35 +0000 http://businessesgrow.com/?p=1247#comment-1433 [...] 8, 2009 // Mark Schaefer’s recent post on {grow} (which I subscribe to, by the way, and you should to) got me thinking. I wrote a comment and [...] [...] 8, 2009 // Mark Schaefer’s recent post on {grow} (which I subscribe to, by the way, and you should to) got me thinking. I wrote a comment and [...]

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]]> By: Does the social web primarily benefit service companies? An interesting perspective « FASTInventors http://www.businessesgrow.com/2009/12/01/does-the-social-web-only-benefit-service-companies/#comment-1396 Does the social web primarily benefit service companies? An interesting perspective « FASTInventors Mon, 07 Dec 2009 17:15:16 +0000 http://businessesgrow.com/?p=1247#comment-1396 [...] via businessesgrow.com [...] [...] via businessesgrow.com [...]

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]]> By: Neicole Crepeau http://www.businessesgrow.com/2009/12/01/does-the-social-web-only-benefit-service-companies/#comment-1328 Neicole Crepeau Wed, 02 Dec 2009 22:32:39 +0000 http://businessesgrow.com/?p=1247#comment-1328 Wow! You are so good for my ego. I really hope we have the chance to meet in person some day, Mark. In the meantime, I was thinking I might make a post out of these thoughts. Thanks for the nudge. Wow! You are so good for my ego. I really hope we have the chance to meet in person some day, Mark. In the meantime, I was thinking I might make a post out of these thoughts. Thanks for the nudge.

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]]> By: Mark http://www.businessesgrow.com/2009/12/01/does-the-social-web-only-benefit-service-companies/#comment-1327 Mark Wed, 02 Dec 2009 22:07:52 +0000 http://businessesgrow.com/?p=1247#comment-1327 @Neicole Have I told you lately that you are one of the smartest bloggers out there? Honored to have you come by and provide such insightful commentary! You've written a great stand-alone post right here! @Neicole Have I told you lately that you are one of the smartest bloggers out there? Honored to have you come by and provide such insightful commentary! You’ve written a great stand-alone post right here!

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]]> By: Neicole Crepeau http://www.businessesgrow.com/2009/12/01/does-the-social-web-only-benefit-service-companies/#comment-1324 Neicole Crepeau Wed, 02 Dec 2009 18:28:37 +0000 http://businessesgrow.com/?p=1247#comment-1324 Great post, Mark! I think you're dead-on regarding service industries being the primary users right now. I did a small survey of business users on Twitter a while back (http://bit.ly/2j6iye) and almost 80% of them were in the service industry. 70% were in the very small business category. I'm thinking some of that has to do with the fact that social media has been touted as an avenue where you build relationships--something that makes a lot of sense if your business is service. Repeat customers is an important factor for them, for instance. Word of mouth is also very important and effective for these businesses. They probably spend more time on relationship building in general and are more willing to invest in it because they know it will pay off. I do think we'll see more retail and B2B use as the usability improves for Twitter and if it improves for Facebook. Some of the decisions these networks make will have a significant impact on the potential growth in small/medium business use and B2B use. To see that increase, I think we will need to see improvements in usability for end-users; we'll need to see the big players create the right environment for businesses to make effective use of the networks (and I'm wondering if Facebook is moving in the right direction with their latest changes); and, I believe, we'll need to see better support for Trusted Networks, specifically privacy settings and notifications that allow users to control access that companies have to them, as well as tools that easily surface the information the user cares about, from those companies. When and if those things come together, I think we'll see expanded use by smaller, non-service business and greater B2B use. Great post, Mark! I think you’re dead-on regarding service industries being the primary users right now. I did a small survey of business users on Twitter a while back (http://bit.ly/2j6iye) and almost 80% of them were in the service industry. 70% were in the very small business category.
I’m thinking some of that has to do with the fact that social media has been touted as an avenue where you build relationships–something that makes a lot of sense if your business is service. Repeat customers is an important factor for them, for instance. Word of mouth is also very important and effective for these businesses. They probably spend more time on relationship building in general and are more willing to invest in it because they know it will pay off.
I do think we’ll see more retail and B2B use as the usability improves for Twitter and if it improves for Facebook. Some of the decisions these networks make will have a significant impact on the potential growth in small/medium business use and B2B use. To see that increase, I think we will need to see improvements in usability for end-users; we’ll need to see the big players create the right environment for businesses to make effective use of the networks (and I’m wondering if Facebook is moving in the right direction with their latest changes); and, I believe, we’ll need to see better support for Trusted Networks, specifically privacy settings and notifications that allow users to control access that companies have to them, as well as tools that easily surface the information the user cares about, from those companies. When and if those things come together, I think we’ll see expanded use by smaller, non-service business and greater B2B use.

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]]> By: Mark http://www.businessesgrow.com/2009/12/01/does-the-social-web-only-benefit-service-companies/#comment-1312 Mark Tue, 01 Dec 2009 19:39:26 +0000 http://businessesgrow.com/?p=1247#comment-1312 @Steve -- Congratulations on your first novel! : ) I ocncur and apprciate you taking the time to post these thoughtful comments. @John -- I guess I prefer the anthracite analogy to social media being like Scottish peat -- a lot of it, but it doesn't generate much heat! @Steve — Congratulations on your first novel! : ) I ocncur and apprciate you taking the time to post these thoughtful comments.

@John — I guess I prefer the anthracite analogy to social media being like Scottish peat — a lot of it, but it doesn’t generate much heat!

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]]> By: John Bottom http://www.businessesgrow.com/2009/12/01/does-the-social-web-only-benefit-service-companies/#comment-1310 John Bottom Tue, 01 Dec 2009 16:10:00 +0000 http://businessesgrow.com/?p=1247#comment-1310 Mark I'm honoured by the mention - thank you. And the commenters above all make excellent points that, for me at least, suggest an inevitable conclusion – ie that it will happen but not yet. I find it easier to think of the world before social media, when B2B buyers used to attend physical conferences and discuss issues there. Now they do it online (but not very much, if we're honest). This usage can only increase. And when it does, the range and depth of conversations surrounding product choice will increase, giving marketers many more opportunities to join in. If you'll forgive a Brit using a US analogy, it's like Pennsylvania anthracite – a slow burn but it's not going to go out any time soon. Cheers John Mark

I’m honoured by the mention – thank you. And the commenters above all make excellent points that, for me at least, suggest an inevitable conclusion – ie that it will happen but not yet.

I find it easier to think of the world before social media, when B2B buyers used to attend physical conferences and discuss issues there. Now they do it online (but not very much, if we’re honest). This usage can only increase. And when it does, the range and depth of conversations surrounding product choice will increase, giving marketers many more opportunities to join in.

If you’ll forgive a Brit using a US analogy, it’s like Pennsylvania anthracite – a slow burn but it’s not going to go out any time soon.

Cheers

John

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]]> By: Steve Dodd http://www.businessesgrow.com/2009/12/01/does-the-social-web-only-benefit-service-companies/#comment-1309 Steve Dodd Tue, 01 Dec 2009 15:32:24 +0000 http://businessesgrow.com/?p=1247#comment-1309 Mark, this is a very challenging question: "Will we see a day when a larger diversity of products will benefit from the social web?" But, I believe the challenge is proving that it is happening rather than the question of it happening at all. It is happening right now. Maybe not to the extreme we all want but social media adoption in B2B is escalating. The problem is that it is not obvious. You tweeted this morning about HP monitoring their bloggers due to the impact of new regulations. That article discussed some of the value they are seeing from WOM and other social media activities. There are many, many more examples. If we as an industry want to really address this issue, we need to dig deeper into what is happening and take the responsibility to connect the dots for these industries. As we've "discussed" before, there's more to this than "Marketing and Advertising". There are so many other examples of value being generated in B2B through social media applications that are not clearly obvious. We need to find them, define them and understand that value proposition. Once they are identified and quantified, then we can replicate them. Like you, I'm frustrated with the pontification without proof. It all comes back to measurement. We (the SM industry) need to find it, measure it and prove it. But, we need to look past the obvious (ie: Marketing, Advertising and PR). A classic example of this missed focus is the never ending use of the Dell example of generating $3,000,000 in sales through Twitter. SO WHAT!!!!!!!! Does anyone talk about the huge customer service, product design and overall market shift intelligence being gained through their other (far more extensive) social media use? NO!!!!!!! But the impact in these other areas is far greater than the mere $3million in sales they generated through Twitter. Another great example is Apple. It's been stated that Apple doesn't use Social Media. That couldn't be further from the truth. And, because of that, the impact Social Media has had on that company is massive. They just don't use it in a way that is obvious to the marketing people trying to control this industry. So, I know I'm rambling..... But, please, we must dig deeper and likely in different places to really uncover these exceptional applications for Social Media in B2B. Mark, this is a very challenging question: “Will we see a day when a larger diversity of products will benefit from the social web?”

But, I believe the challenge is proving that it is happening rather than the question of it happening at all.

It is happening right now. Maybe not to the extreme we all want but social media adoption in B2B is escalating. The problem is that it is not obvious. You tweeted this morning about HP monitoring their bloggers due to the impact of new regulations. That article discussed some of the value they are seeing from WOM and other social media activities. There are many, many more examples.

If we as an industry want to really address this issue, we need to dig deeper into what is happening and take the responsibility to connect the dots for these industries. As we’ve “discussed” before, there’s more to this than “Marketing and Advertising”. There are so many other examples of value being generated in B2B through social media applications that are not clearly obvious. We need to find them, define them and understand that value proposition. Once they are identified and quantified, then we can replicate them.

Like you, I’m frustrated with the pontification without proof. It all comes back to measurement. We (the SM industry) need to find it, measure it and prove it. But, we need to look past the obvious (ie: Marketing, Advertising and PR).

A classic example of this missed focus is the never ending use of the Dell example of generating $3,000,000 in sales through Twitter. SO WHAT!!!!!!!! Does anyone talk about the huge customer service, product design and overall market shift intelligence being gained through their other (far more extensive) social media use? NO!!!!!!!

But the impact in these other areas is far greater than the mere $3million in sales they generated through Twitter.

Another great example is Apple. It’s been stated that Apple doesn’t use Social Media. That couldn’t be further from the truth. And, because of that, the impact Social Media has had on that company is massive.
They just don’t use it in a way that is obvious to the marketing people trying to control this industry.
So, I know I’m rambling….. But, please, we must dig deeper and likely in different places to really uncover these exceptional applications for Social Media in B2B.

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]]> By: Mark http://www.businessesgrow.com/2009/12/01/does-the-social-web-only-benefit-service-companies/#comment-1306 Mark Tue, 01 Dec 2009 14:04:26 +0000 http://businessesgrow.com/?p=1247#comment-1306 @Dan Always providing a great real-world perspective to the community! I think these very practical issues of time, budget, politics and priorities are missing from the dialogue of many blogs out there. It's personally frustrating to hear some of these naieve and disconnected bloggers pontificate about the panacea of social media. It's not and the numbers show it, especially in B2B. Dan, I know through your comments that you've struggled with these issues for awhile. Let's schedule a phone call and maybe I can help you brainstorm through a few ideas to try with your boss. @Dan Always providing a great real-world perspective to the community! I think these very practical issues of time, budget, politics and priorities are missing from the dialogue of many blogs out there. It’s personally frustrating to hear some of these naieve and disconnected bloggers pontificate about the panacea of social media. It’s not and the numbers show it, especially in B2B.

Dan, I know through your comments that you’ve struggled with these issues for awhile. Let’s schedule a phone call and maybe I can help you brainstorm through a few ideas to try with your boss.

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]]> By: Mark http://www.businessesgrow.com/2009/12/01/does-the-social-web-only-benefit-service-companies/#comment-1305 Mark Tue, 01 Dec 2009 14:01:08 +0000 http://businessesgrow.com/?p=1247#comment-1305 @Joseph You took us down the philosophical lane today! As usual, a wonderful and thought-provoking comment. I share your passion and hope for social media but also have a steely eye on the practical side. I'm responsible for measurable customer results in my business! Which brings us to ... @Joseph You took us down the philosophical lane today! As usual, a wonderful and thought-provoking comment. I share your passion and hope for social media but also have a steely eye on the practical side. I’m responsible for measurable customer results in my business! Which brings us to …

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