Driving sales with social media is still a mystery to many
The results of a new survey conducted by IBM indicate that IBM business partners expect social media to drive sales. Of course they do, right? No big news there. The keyword in that sentence, though, is "expect." They want to see the return on investment and most times they want that return to be sales, something that affects the bottom line. But can you really expect something you haven't given much thought on how to actually obtain?
Better yet, can you listen to case study after case study about Company A's success on Facebook or how Company B made $3 million dollars in sales on Twitter and expect the same thing, if you join those networks even if you are in a completely different industry?
I think some of the case studies we are hearing over and over again are driving some of those expectations. But I also believe that... no I'm pretty sure that the expectations to some degree, stem from a lack of understanding of what it takes to develop smart strategies and tactics to drive these sales and then measuring them to determine success and how to move forward.
This is very similar to the whole idea about building communities. It sounds good in theory, but its much harder in practice and without the stamina, there is absolutely no way to succeed.
But back to this new revelation by IBM. Now that they have the information about the needs of their partners, they are doing something about it and I find it worth sharing.
IBM has launched a new skills initiative to focus on the areas the partners deemed most critical. Many stated being overwhelmed and want to learn more about specific social media tools like RSS, Facebook, Twitter, wikis, videos and setting-up networking communities for engaging with other partners and customers. This is exactly what they will provide, in the form of training sessions, webcasts, podcasts and webinars and in-person workshops. Here is a direct quote from Sandy Carter, vice president, IBM Software Business Partners:
"Many of our partners are recognizing this shift in how businesses communicate with their customers, potential customers, and each other, and yet they have not created a strategy for embracing social media. Through this new skills initiative, we're arming our partners with the skills they need to elevate their sales and marketing teams with social media strategies to establish smarter business practices in the Web 2.0 world."
I think this really speaks to the importance of going back to the basics. As social media manager at Capstrat, I try not to make any assumptions about the knowledge-base of clients. I also seek to understand their industry and more importantly their goals and objectives before making any recommendations on how they can use social media to drive sales, or do anything else for that matter. This is not a one-size-fits all deal, and the research required to get it right cannot be underestimated.
So, Kudos to IBM for conducting the 2010 Business Partner Social Media Survey, pouring through the results and deciding to go back to the basics.
Comments
This is a great read. We recently signed on Abercrombie & Fitch and Hollister brand to a one year engagement and have recently helped them grow their Facebook fan base by 500,000+ fans and developed a revenue generating application via receipt code entry.
We develop Custom Facebook Apps and offer Mobile Marketing to global and national brands.
We would be delighted to set up a capabilities presentation with you and your team? We do about 40% of our business through Agencies like yours.
Dom
dhill@3tierlogic.com
Direct: 604.639.5444
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