However, many argue that social media doesn't work for B2B companies. Especially those who sell grudge purchases. Talking about something like insurance on social media is as sexy as late night chat lines. But this doesn't mean that the financial services industry should be excluded from the social media phenomenon.
Social media can be used as a tool to bring the sexy back to the grudge purchases that we sell. Here's how:
It is important to build a social media audience. But, a small targeted audience is worth more than thousands of random people who will never consume your product or service.
Effective use of social media should be centred on reaching and engaging defined target markets, rather than how many 'likes' you receive. I can post a picture of Justin Bieber on Facebook and get millions of 'likes'. However, these 'likes' would be from 13 year old girls and not a true reflection of my target market.
Similarly, buying 'likes' through grab campaigns leaves you with an audience that is essentially, useless. Many businesses resort to purchasing 'likes' from spoof accounts. Others run competitions to attract 'likes'. While this works as a tool to get people to 'like' you, in the end the number of 'likes' eventually dwindle.
Stick to the fundamentals of advertising and focus on your target market.
There is a tendency of businesses to over-rely on statistics. While analysing can give you an overview of activity, focusing on statistics does not truly reflect what's going on.
If you do feel the need to analyse, rather focus on the 'unlikes'.
'Likes' are easy to get, but difficult to retain. As such, I prefer to look at 'unlikes' because they show that there is something that you did that changed your follower's perception. While getting the follower back may be a difficult job, it would be beneficial to find out what you did to chase them away.
Your social media should be handled by someone who has a personal interest in the business and not outsourced to a third party. Plain and simple: outsourcing your social media is like outsourcing your love life to your parents. Yes, they may have more experience in love than you, but they won't be invested in the same way you are.
Managing your business's social media also ensures that your page is given top priority. This is especially valuable if things go wrong. Any bad experience on social media can be a killer because negative comments are more frequently discussed than positive comments.
The benefit of managing your own social media is that in the event something does go wrong, you can fix it immediately and convert a negative brand experience into a positive one.
Or, just remember your personality. When you log on, two words count: social skills. Your level of engagement should be driven by the general positioning of your brand, but don't forget to create your brands social personality. A real personality is far more likeable and "followable" than a window dressed one.
Social media remains a social platform. Make sure your brand is not socially awkward.
