B2C

Inroads in social media marketing for financial services

Consumers have long moved on from just using the internet for information-gathering. Social networks are growing at an incredible pace. We all know that social media lower costs and optimizes marketing spending. Now is the time for financial services companies to move from just “being” on social media and start to truly “engage” with their customers. At the end of the day it is all about using social media tools to build personalized customer relationships.

There are many financial companies, like American Express or UBS, already optimizing their use of social media. Accenture has identified 11 social media tactics that can help achieve a specific outcome and that should ideally not just be used in isolation.

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It is important to keep in mind, that social media marketing always needs to be fully integrated in your company’s digital and corporate strategy to achieve the best impact possible.

Here is a link to the full report.

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B2B is P2P

lightThis week, I was wondering why marketers often make a distinction between B2C and B2B. Yes, there may be a difference in purchasing decisions. More logic, less emotion. But even if the name is “B2B” you are still selling to people, not businesses. And these people are also consumers who have daily interactions with the B2C greats like Apple or Amazon and therefore most likely have certain expectations about the sales and marketing process. Across the board they are looking to build relationships, gain insights and knowledge and develop loyalties. So when looking for best practices in B2B marketing, we should definitely take a look and see what we can learn from B2C companies.

Content definitely is a cornerstone for both marketing practices. For B2B it is about showing your expertise and core business values. Good (and plenty!) content can help you stand out among the large flow of information that is out there. So we need to create opportunistic content that revolves around news, visions and trends, finding the right distribution channels and tools. Content that stands out and is consistent over time will be a clear winner. Paired with B2C inspired social media  strategies we can create engagement with our audience. And engagement in turn creates communities.

Our audience should be more than just faceless readers of our content. B2C communities give their audience an opportunity to engage with the brand. In B2B our opportunity exists in creating a real network of customers, influencers and other interested parties where we can share information, developments and comments.I am convinced we can transform businesses and how we market them by taking a closer look at the B2C market and using the inspiration to create a competitive advantage.