Posts tagged business strategy
Research shows small business owners struggle with Twitter
Dec 10th

The latest research report from Business.com shows that small business owners are still trying to figure out Twitter … but those who have mastered it are seeing an advantage.
The expansive report covering 1,711 small business decision makers showed that of all the social media channels, Twitter was the least-used. Just 27 percent of the respondents were active on the micro-blogging site.
But even that figure may be deceptively high – the survey sample was of business leaders already using some form of the social web. Translation: This is why you are still getting blank stares when you talk to most small business decision makers about Twitter.
Although Twitter fell to the bottom of the list of most-used social media resources for business, those actively using Twitter are very positive about the business value. In fact, Twitter topped the write-in list with small business decision makers praising the ability to get quick feedback and access relevant business information. One typical quote:
“On Twitter, the people I follow provide me with more relevant links and information than any other tool. It saves me time and helps me learn about new technologies or innovative ideas, as they are happening.”
As we have come to expect, the Business.com research is thorough and fascinating, with detailed data segmented by industry, job type and company size. Study participants in the healthcare, retail and legal industries use significantly fewer social media sites/resources for business information.
Based on the findings, companies interested in using social media to engage small business customers and prospects would be wise to:
- Develop educational webinars and/or podcasts which address specific small business needs in the process of introducing company products or services. Businesses value convenience and speed in their information sources.
- Encourage, and carefully tend, online reviews of company products or services.
- Establish a presence on one or more major social networking sites and use this as a hub for corporate social media initiatives.
- Participate in more focused online discussions where it is easy to find and respond to questions specifically related to company products or services – such answering questions on Q&A sites like LinkedIn Answers or Business.com Answers, or in online business forums – rather than trying to work a promotional mention into discussions on 3rd party web sites and blogs.
- Further investigate how their target audience is using Twitter for business today and begin developing a Twitter strategy.
Source: Engaging Small Business Decision Makers through Social Media: A 2009 Business Social Media Benchmarking Study Report. Business.com, December 7, 2009, http://www.business.com/info/engaging-small-business-through-social-media.
Is this the end of the social media purists?
Nov 24th

I have never used this community to comment on another person’s blog but today I’m just so happy, so enthralled, so downright giddy that I could kiss my keyboard. One of the social media purists has finally discovered the bright, clear light of capitalism.
And it couldn’t have happened to a nicer guy — Jason Falls. Jason is one of my favorite bloggers but has historically been one of the stalwart “keepers of the conversation.” You know the type — the social media country clubbers who set the industry’s tone with a relentless mantra of “it’s all about connection” and “conversation” and “relationships.” In fact, a few months ago, Jason went so far as to write that any company expecting to make money off of social media will fail.
But a new day is dawning. Yesterday, in a post entitled “Why Social Media Purists Won’t Last,” he wrote:
Each time I discuss the business goals or reasons why a client wants to use social media, the answers come down to one thing: selling more stuff. It’s a harsh business reality. If you don’t make money, the business goes under. If you don’t make more money, people lose their jobs.”
The social media purists have laid down the law and, so, to participate in social media as a business, you must do things like, “participate in the conversation,” “engage your customers,” and “talk with us not to us.”
I’ve got news for you. In the world of business, all that talk will get you exactly nowhere. Conversations do not ring the cash register. Engagement does not sell more product. Talking with people just means you have to take time to listen which prevents you from spending valuable time selling more product.
Halleluia. Maybe I’ll finally have some company out here in the social media netherworld of business rationality.
And if this isn’t enough reason to celebrate, read what the Ultimate Blogging Machine Chris Brogan wrote just a month ago:
Think Like a Business – if you’re in this for business, always ask yourself how this work ties to more sales (and if you’re not trying to make money, think of “sale” as whatever you hope to convert. Hint: it’s not “more audience.”). If you’re just writing to write, shooting video to get it up there, tweeting because people said you should, rethink all that. Decide what’s going to ring your register and work on that.
What??? Ring the register? Not seeking “more audience?” Could this be an era of enlightenment for the guy who recently yelled at his audience: “This is NOT about you and your STUPID COMPANY” ?
What’s happening around here? My guess is that both have recently had a big dose of the real world. Falls went out on his own and had to come out from behind the P&L protectionism of agency life. Brogan’s sudden emergence on a bigger stage probably got him in front of experienced business people instead of the sycophants who dutifully re-tweet his every blog, bluster and burp.
So this begs a new question. Are my days as a contrarian coming to an end? I mean if Brogan’s in, the burp tweeters will fall right in line. If the social media elite are finally figuring it out, what do I write about now? Hmmm. How about, “It’s all about the conversation?” : )
The best business opportunity in social media marketing
Nov 18th

Awhile back I put forth a “success formula” to create business benefits through social media:
Connections + Meaningful Content + Authentic Helpfulness = Benefits
The more I see and hear and learn about the social web, the more I’m convinced this is spot-on. You can see the whole article here, by the way.
I’m learning that within this formula, content is a SEVERE bottleneck for most companies. Here’s why:
- Companies are piling on to the social web and are desperate to provide content that will cut through the clutter. It takes a special talent to do that. Typically, they don’t have that special talent … but are willing to pay for it.
- I’m sure you’ve heard stats like, “more content has been created in the last five years than in the history of mankind.” I either made that up or I heard it someplace (or both) but I’m sure you’ve heard similarly ridiculous statements. There is a kernel of truth in there, however. There’s already too much freaking content for any normal person to keep up with. And the problem is going to get worse. In fact, it will never get better. The need for content seems insatiable. This exacts more pressure on companies to not only develop “meaningful” content, but content that will knock your socks off. Every day.
- The need for “authenticity” is an artificial barrier set by the social media country club that is keeping some people from ghost blogging. (Article on how to do it RIGHT is here.) That barrier will go down as the price companies are willing to pay for content goes up. There will be plenty of content-whores around for everybody. And I mean that in the most respectful way.
So here’s the business plan: Come up with a posse of technical writers/content whores who can churn out blogs on a variety of subjects (maybe organize by verticals) and fill this out-sourcing market niche. I would do it myself but I’m far too lazy.
So there it is. Business Idea of the Year! Go be the Wal-Mart of content. The Blog Super Store. Content Whore Warehouse. Whatever, just go do it and I’ll be the first to hire you for my customers. See, you can’t tell me I never did anything for you. : )
Surprising research shows high social media involvement from B2B
Nov 17th

Yesterday Business.com released additional results of its milestone study of social media usage across American business, this time with a focus on B2B. This research should put an end to the argument over the relevance of social media in the industrial sector. In fact, it appears that by percentage, B2B is ahead of B2C in some key categories.
Like the general study I reported last week, this report is chock-full of details by industry, job type, and social media platform. It’s significant because of the scope of the study and the statistical rigor applied to the results. I recommend spending time with this survey, but here are some highlights that caught my attention:
- B2B (defined as companies with >2/3 sales to other companies) actually show as much, or more, involvement in social media as counterparts in B2C.
- Professionals working on social media devoted 21% of their time to this activity versus 18% for the study average (this would imply a much lower rate for B2C but the number is not broken out).
- B2B company respondents have somewhat more experience with business social media initiatives than their peers in B2C and mixed companies – 30% of B2B respondents have less than one year of business social media experience versus 35% across the study
- The study showed a statistically significant difference in social media activity with B2B’s dominating in 11 out of 14 social media categories. The three exceptions are – there’s no B2B versus B2C difference in the percentage of companies managing online communities, and B2B companies are significantly less likely than B2C companies to monitor online ratings/reviews of their products or services and to advertise on social media sites.
- B2B’s are more likely to pay for social media monitoring platforms.
- B2B’s are having better fortune seeing an impact of social web projects on their web traffic (70% versus 62%); Revenue (60%/52%) and sales leads (57%/53%).
- Marketing owns the social media initiative in 76% of the B2B’s versus 63% B2C.
- B2B companies maintain a high presence on social media sites, with 81% maintaining one or more accounts on sites like Facebook, Twitter, and LinkedIn. B2B companies are much more likely to engage in micro-blogging on Twitter than B2C companies.
It should be noted that of the total survey participants, just 25% were B2B, indicating that overall adoption of social media probably lags B2C. And while the most highly-publicized success stories are eminating from B2C, this study shows conclusively that among those participating in the social web, B2B’s may be engaged more deeply and more broadly than their B2C counterparts … some of the most surprising, and compelling, conclusions I’ve seen in this field.
What are your thoughts on this research?






You’re in marketing for one reason: Grow.
Grow your company, reputation, customers, impact, profits. Grow yourself. This is a community that will help. It will stretch your mind, connect you to fascinating people, and provide some fun along the way. I am so glad you’re here.
-Mark Schaefer

