top 5 trends in b2b social media usagehosteddocs.ittoolbox.com/toolbox_-com_top5-trend... · top 5...
Post on 04-Jul-2020
5 Views
Preview:
TRANSCRIPT
© 2010 Toolbox.com
Top 5 Trends in B2B Social Media Usage: What Every Marketer Should KnowW h i t e P a p e r
© 2010 Toolbox.com
Top 5 Trends in B2B Social Media Usage: What Every Marketer Should Know
Knowledge Sharing Communities
Toolbox.com2
The value of social media usage in the workplace has been a much debated topic in recent years. Those who malign its usage in professional settings have visions of productivity plummeting among employees making frequent visits to Facebook or MySpace during the workday to chat with friends. Equally concerning are the very real security risks that social media usage may pose through malware attacks or from employees inadvertently, or purposely, revealing proprietary or sensitive company information. However, many of these risks can be minimized through proper security measures and smart social media policies, like those developed by Intel and IBM, that provide employees with clear guidelines on acceptable social media usage.
Despite these potential pitfalls, social media usage on the job has proven to be a practical addition to the traditional workflow. Communities like LinkedIn and Facebook help professionals connect and communicate with each other directly. Through sites like Twitter and SlideShare, professionals can distribute information to their connections and the broader community. Best practice communities like Toolbox.com help professionals make better decisions by collaborating with peers online. Where previously they would be forced to rely on their own expertise, colleagues, research, or conferences, they can now extend that pool of available knowledge beyond their office walls right from their computer. With a few clicks, today’s professional can be deep inside an online community where they can tap into the experience of like-minded peers to help set strategies or solve problems.
The good news for B2B marketers is that they have an important role to play in the social media space: online communities are open for participation and welcome the information and insights that their companies can add to the conversation. However, in order to be
Enable members to generate knowledge or best practice information through open
interaction with their connections and the community
Enable members to link up and communicate directly
Enable members to distribute information or knowledge to their connections and the
community
Connect
Collaborate Share
Three Primary Values of Social Media for Professionals
© 2010 Toolbox.com
Top 5 Trends in B2B Social Media Usage: What Every Marketer Should Know
Knowledge Sharing Communities
Toolbox.com3
successful, marketers must first understand the landscape and their customers’ place within it.
This white paper will help to develop a better understanding of the current trends in professional use of social media – who is using it, how it is used, and why. The research presented is based on responses from IT, HR, and finance professionals who participated in a survey series with Toolbox.com and PJA Advertising + Marketing. More than 3,000 professionals participated in each of the five waves of the survey. Armed with this information, B2B marketers can make better decisions about how to integrate social media and its related tools into current marketing strategies.
Trend #1: Reliance on Social Media for Better Workplace Decision Making Continues to Grow
Social media has become an important tool in the workplace, and is relied on frequently during the average week to make decisions and solve problems. In Wave V of the Toolbox.com/PJA Social Media Index survey, conducted in January 2010, respondents reported using social media 4.59 hours on average during the week. This consumption rate has increased by more than 1 hour per week since the first wave of the survey conducted two years ago.
The rate of social media usage has also consistently outpaced consumption of online editorial content and online vendor content throughout the survey series. This trend does not indicate the declining importance of these content types, as both serve important roles in helping professionals identify current trends and conduct research. What it does indicate, however, is the growing reliance that professionals place on social media for specific purposes like networking, sharing knowledge, staying current, and advancing their careers, which will be examined in more detail in Trend #2.
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
4.0
4.5
5.0
Online vendor content (vendor-produced white papers, webcasts, etc.)
Online editorial media (InformationWeek, CNN,
WSJ.com, etc.)
Social media/ user-generated content (Toolbox.com,
Wikipedia, LinkedIn, etc.)
Hou
rs p
er w
eek
3.483.26
3.74
4.72
2.883.06
3.353.54
2.712.88 2.85 2.79
Media Consumption Rates June 2007 (W1) to January 2010 (W5)
Source: Toolbox.com/ PJA Social Media Index, Wave V
4.59
3.353.05
W1 W2 W3 W4 W5 W1 W2 W3 W4 W5 W1 W2 W3 W4 W5
Media Consumption RatesJune 2007 (W1) to January 2010 (W5)
Source: Toolbox.com/PJA Social Media Index, Wave V
© 2010 Toolbox.com
Top 5 Trends in B2B Social Media Usage: What Every Marketer Should Know
Knowledge Sharing Communities
Toolbox.com4
Finance and HR professionals report similar consumption trends, using social media in the workplace at rates of 3.64 hours/week and 3.77 hours/week respectively. Similar to their IT counterparts, both finance and HR respondents use social media more frequently than online editorial and vendor content.
Trend #2: The Value of Social Media to Professionals Has Expanded Beyond Networking
IT professionals use social media for a variety of reasons on the job, including:
Staying current (70.9%)• Networking with other • professionals (68.6%)Advancing their career (58.1%)• Sharing content with peers • (54.7%)
While many of these same functions can be performed offline or online through an editorial or vendor resource, social media offers professionals several distinct opportunities. The content they are consuming through social media is created by their peers. In this way, they gain a unique perspective on the latest trends, one based on direct experience from
Source: Toolbox.com/PJA Social Media Index, Wave V925 Responses
0.0 1.0 2.0 3.0 4.0
Vendor content (vendor-produced white papers,
webcasts, etc.)
Editorial media (Information Week,
CNN, WSJ.com, etc.)
Social media/user-generated content (Toolbox.com, Wikipedia, Twitter,
Facebook, LinkedIn, etc.)3.77
2.77
2.13
Average Hours
Media Consumption RatesHR Audience
Source: Toolbox.com/PJA Social Media Index, Wave V3,088 Responses
Social Media for Professional UseIT Audience
0% 10% 20% 30% 40% 50% 60% 70% 80%
Other (please specify)
Managing your reputation (demonstrating expertise/building personal brand)
Advancing your career (building skills and expertise)
Searching for jobs
Staying current
Networking with other professionals
Sharing content with peers 54.7%
68.6%
70.9%
32.7%
58.1%
24.5%
6.2%
Media Consumption RatesFinance Audience
0.0 1.0 2.0 3.0 4.0
Vendor content (vendor-produced white papers,
webcasts, etc.)
Editorial media (Information Week,
CNN, WSJ.com, etc.)
Social media/user-generated content (Toolbox.com, Wikipedia, Twitter,
Facebook, LinkedIn, etc.)3.64
3.25
2.40
Average Hours
Source: Toolbox.com/PJA Social Media Index, Wave V351 Responses
© 2010 Toolbox.com
Top 5 Trends in B2B Social Media Usage: What Every Marketer Should Know
Knowledge Sharing Communities
Toolbox.com5
like-minded professionals. It also provides a much larger knowledge base to tap into when solving a problem or developing a strategy.
Similar trends in social media usage are emerging among finance and HR professionals, where staying current, networking and sharing content with peers, and career advancement are the top uses of social media.
Trend #3: Best Practice Communities Have Emerged as Key Resources for Career Advancement
The adage of “using the right tool for the job” applies to how professionals use social media. Not every social media site offers the appropriate venue for achieving a specific
Social Media for Professional UseFinance Audience
Source: Toolbox.com/PJA Social Media Index, Wave V351 Responses
0% 10% 20% 30% 40% 50% 60% 70% 80%
Other (please specify)
Managing your reputation (demonstrating expertise/building personal brand)
Advancing your career (building skills and expertise)
Searching for jobs
Staying current
Networking with other professionals
Sharing content with peers 46.2%
62.4%
72.6%
29.6%
55.0%
21.9%
5.1%
Source: Toolbox.com/PJA Social Media Index, Wave V925 Responses
Social Media for Professional UseHR Audience
0% 10% 20% 30% 40% 50% 60% 70% 80%
Other (please specify)
Managing your reputation (demonstrating expertise/building personal brand)
Advancing your career (building skills and expertise)
Searching for jobs
Staying current
Networking with other professionals
Sharing content with peers 57.2%
70.7%
78.2%
29.5%
56.2%
24.6%
6.8%
© 2010 Toolbox.com
Top 5 Trends in B2B Social Media Usage: What Every Marketer Should Know
Knowledge Sharing Communities
Toolbox.com6
goal in the workplace, just as not every tool – such as blogs, discussion groups, or profiles – found within those social media sites will offer the appropriate way to communicate.
For career advancement, which includes searching for new job opportunities, filling knowledge gaps by networking with peers, and training, IT professionals rely first on best practice communities like Toolbox.com and StackOverflow (59.7%), followed by professional networks like Linkedin and Ryze (54.1%). Conversely, for building brand reputation online, professional networks outpace best practice communities by a margin of 51.3% to 45.9% respectively. According to survey respondents, social media’s most significant impact on career advancement was to help them increase the level of experience in their current position (56.7%), followed closely by providing a support structure to increase confidence in decision making (38.4%).
Among HR professionals, best practice communities (66.7%) and professional networks (66.9%) were used at nearly the same frequency for career advancement. Finance professionals used best practice communities (55.3%) slightly more than professional
Source: Toolbox.com/PJA Social Media Index, Wave V3,088 Responses
Types of Social Media for Career AdvancementIT Audience
0% 10% 20% 30% 40% 50% 60%
Other (please specify)
I don't use social media for career advancement
Blogs (Blogger, LiveJournal)
Sharing networks (SlideShare, Digg)
Microblogging (Twitter, Tumblr)
Social networks (Facebook, MySpace)
Professional networks (LinkedIn, Ryze)
Vendor-run communities (Oracle Technology Network, IBM Developerworks)
Best practice communities (Toolbox.com, StackOverflow) 59.7%
34.7%
54.1%
36.7%
13.7%
10.3%
20.3%
18.9%
3.3%
Source: Toolbox.com/PJA Social Media Index, Wave V3,088 Responses
Social Media Impact on CareerIT Audience
0% 10% 20% 30% 40% 50% 60%
Other (please specify)
Participation in social media has not impacted my career
Benchmarked my skills against peers
Increased confidence with a support structure through professional networking
Increased my level of expertise in my current position
Resulted in new business/project opportunities
Resulted in a promotion
Increased my responsibilities in my current position
Created new job opportunities for me 21.6%
21.4%
6.9%
21.3%
56.7%
38.4%
25.9%
27.2%
3.7%
© 2010 Toolbox.com
Top 5 Trends in B2B Social Media Usage: What Every Marketer Should Know
Knowledge Sharing Communities
Toolbox.com7
networks (54.7%) for career advancement. Like their IT counterparts, both HR and finance respondents reported that social media’s biggest impact on career advancement was to help them increase their level of expertise in their current positions.
Trend #4: Professionals Are Looking for Companies to Participate in Social Media
In Wave IV of the Toolbox.com/PJA Social Media Index survey, IT professionals were asked to share their attitudes on vendor participation in online communities. According to the survey results, B2B marketers should consider themselves to be an integral part of the social media experience: more than 76% of respondents reported that it is essential or important for vendors to have a presence in online communities.
These survey respondents also reported on which social media venues were the most appropriate for vendor participation. By an overwhelming majority (90.5%), IT professionals saw best practice communities as the most relevant forum for B2B marketers to communicate with their customers, followed by professional networks (57.6%), social networking communities like Twitter (17.0%), and Facebook (16.9%).
Professionals turn to social media in information-seeking mode, such as when they have a question that cannot be answered with the resources available in the workplace. In these instances, vendor participation in
Vendor Participation in Social MediaIT Audience
0% 10% 20% 30% 40% 50%
I would not want to be part of a community that had vendor participation
I am skeptical about vendor engagement in online communities
It is important, but not essential, that vendors listen to their audience and engage in conversation
Vendors must have a presence in online communities 34.7%
42.0%
19.7%
3.5%
Source: Toolbox.com/PJA Social Media Index, Wave IV2,798 Responses
Relevant Social Media Venues for VendorsIT Audience
0% 20% 40% 60% 80% 100%
Topic-based/knowledge sharing communities (Toolbox for IT)
Social networking communities (Facebook, MySpace)
Professional networking communities(LinkedIn) 57.6%
16.9%
90.5%
17.0%
Source: Toolbox.com/PJA Social Media Index, Wave IV2,798 Responses
© 2010 Toolbox.com
Top 5 Trends in B2B Social Media Usage: What Every Marketer Should Know
Knowledge Sharing Communities
Toolbox.com8
social media becomes important and valuable; professionals will readily accept answers from vendors as well as from their peers.
Trend #5: Professionals Place the Most Value on Transparency and Responsiveness from Companies Participating in Social Media
Although B2B marketers are invited to participate in social media by their customers and prospects, they do not have carte blanche to carry out that participation according to their own preferences. IT professionals have very specific requirements about what they expect from marketers who choose to participate.
When asked to rank the qualities that were most important to them from vendors who participate in social media on a scale from 1 (least important) to 5 (most important), respondents cited the ability to provide transparency about their involvement (4.2) and responsiveness to questions (4.2) as their top priorities. These requirements were followed closely by the vendor’s ability to implement product improvements based on feedback (4.1) and regular updates of relevant content (4.0). Free give-aways and exclusive offers were less important (2.7 and 2.4 respectively).
Professionals are using social media with specific objectives in mind – from researching purchasing decisions and staying current to advancing careers and finding answers to questions. Since vendors can provide the insights and advice that professionals seek through social media, they find themselves on an equal playing field within online communities. By being transparent about participation, providing experience-based answers to questions, background to support research, and news to help professionals stay current, vendors will play a key role in the social media space.
Social Media Requirements for VendorsIT Audience
0.0 1.0 2.0 3.0 4.0 5.0
Exclusive member-only content and events
Free samples / give-aways
Improvement of products/services based on feedback and input from community members
Responsiveness to member questions, tips, and troublshooting
Interesting and relevant content that is updated regularly
Transparency and openness about their involvement in the community
Rank
4.2
4.0
4.2
4.1
2.7
2.4
Source: Toolbox.com/PJA Social Media Index, Wave IV2,798 Responses
© 2010 Toolbox.com
Top 5 Trends in B2B Social Media Usage: What Every Marketer Should Know
Knowledge Sharing Communities
Toolbox.com9
Conclusion: 5 Tips for B2B Marketers Based on Current Trends in Social Media Usage
Professionals are using social media in the workplace to do their jobs better. Find them • where they gather and listen to their conversations to learn how to communicate with them on their terms. This approach will lead to more targeted exposure of promotions, better quality leads, and better conversions.
Marketers can support many of the priorities that prompt professionals to use social • media in the workplace. Providing these audiences with content or advice that supports their specific needs can help build better relationships with target audience members.
Marketers can further relationships with potential customers as they seek to advance • their careers within niche best practice communities. Since increasing knowledge and expertise is paramount to these audiences, marketers should look for opportunities to support these activities by sharing IP assets like white papers and webcasts, or by offering advice and expertise in discussion forums.
B2B marketers have an open invitation from their customers to participate with them • in social media settings, especially in best practice communities. Since professionals are researching and gathering information to support purchasing decisions or to solve problems in the workplace, they welcome information from marketers that provide relevant solutions.
Professionals have strong feelings about how marketers should communicate with • them in communities. By honoring these preferences – including transparency, responsiveness, and regular updates and improvements – marketers can garner trust with these audiences.
© 2010 Toolbox.com
Top 5 Trends in B2B Social Media Usage: What Every Marketer Should Know
Knowledge Sharing Communities
Toolbox.com10
About the Authors
Bill Conn, Brand Manager/Senior PR Specialist, Toolbox.comToolbox.com Profile: • http://it.toolbox.com/people/bconn1Twitter: • http://twitter.com/bconn
George Krautzel, Co-Founder and President, Toolbox.comToolbox.com Profile: • http://it.toolbox.com/people/george_krautzelTwitter: • http://twitter.com/GeorgeKrautzel
About Toolbox.comToolbox.com helps professionals do their jobs better by enabling them to easily share knowledge with experienced peers. The online communities at Toolbox.com include professional networking, blogs, discussion groups, wikis, and a vendor research directory through which executives and professionals collaborate to solve problems, make decisions, and increase workplace efficiency. Through the community, advertising partners can engage prospects and customers either directly or by integrating their message through a proprietary contextual matching engine. This combination of community and advertising value has made Toolbox.com a leading destination for professionals and a leader in online advertising. Toolbox.com is a division of Corporate Executive Board (NASDAQ: EXBD).
For more information, visit www.Toolbox.com. Follow Toolbox.com on Twitter: http://twitter.com/toolboxdotcom
top related