Does social media marketing matter for B2B? Part I

In the first of a four-part series, PlasticsToday's contributing writer and marketing guru, Clare Goldsberry, looks at how and where the plastics industry is investing social media platforms like LinkedIn, Facebook, Twitter, and YouTube, and what if any returns they're getting back.

On one of the Linkedin Groups to which I belong, we began the discussion about why customers don't "follow" their suppliers on Twitter. For example, one guy was at a trade show and was wondering what it would take to get customers to follow him around the trade show on Twitter. Well, Twitter is probably one of those social media applications which works well if you're Justin Bieber or Britney Spears, or some other rich and famous icon. However, in the world of business, who really wants to follow their molded parts sales guy's tweets as he walks around a trade show?

There are still a lot of questions being asked in the world of industrial marketing about the value of social media in the B2B arena. Industrial marketing types are trying to figure out just exactly how and where social media fits into the whole marketing game plan. A lot is being written on this topic, so let's see what's being said.

MAPI Manufacturers Alliance conducted two surveys of its members and produced a white paper on the topic "Where B2B Manufacturers Are Seeing Value in Social Media." MAPI wanted to know the impact that social media is having on how its members communicate externally, especially to current and prospective customers. After all, that's the audience we're trying to attract.

Next, MAPI compared the results from its 2009 survey and its 2011 survey, with 35 and 38 respondents, respectively, and noted several trends emerging. "Members are realizing more value in using social media to gather voice-of-the-customer information (44% saw value in 2011 compared to 28% in 2009), and to position their company as a thought leader (63% in 2011 compared to 33% in 2009)," said MAPI's analysis of the survey comparison.

"One constant remains between the 2009 and 2011 surveys, however: the greatest value that members derive from social media is building brand awareness. Members generally still do not see line of sight connections between social media and increased sales, although there are exceptions."

And let's face it: it is sales that we're after in the molding and mold manufacturing business, and in any B2B business — whether its machinery, equipment, resin, or design services — what we do needs to count; it must have an impact on the bottom line, or what's the reason we're engaging in these marketing strategies? 

MAPI discovered another trend in the two years between surveys: the increased adoption rates of major social media vehicles such as YouTube, LinkedIn, Facebook, and Twitter for B2B marketing purposes. Now we're back to the original question: do these really work in an industrial marketing setting? MAPI found that nearly 90% of respondents to its 2011 survey now use YouTube, compared to fewer than half only 18 months prior. Twitter, which many of MAPI's members "regarded with great skepticism in late 2009, when fewer than 20% of respondents were using the tool, is now being used by over 60%."

YouTube, it turns out, is seen as an effective tool for building brand awareness. MAPI's members found the most value in using YouTube to share training or product demo videos; to share expertise with customers and end-users, and to "build enthusiasm."

In Part II, "An 'accidental' video goes viral"