Melvin Please response to this from a personal perspective. Read his discuss and response to it with positive information that pertain to his discussion The Conscious Capitalism simulation involves business-to-business (B2B) marketing of computer products. Social media is often considered for business-to-consumer (B2C) marketing. Does social media marketing work in the B2B marketplace? B2B companies exist in the market, the social media marketing plays an important role in the market. For some cases, there is a lot of B2B companies that have either struggled to grasp social media marketing or flat out ignored it. However, besides the big success for B2C companies according to the social media, B2B companies are still working on the traditional tactics, such as calling clients, face to face sales, etc. It is important to say that those tactics are effective, but shouldn’t be used in place of social media. Instead, companies should integrate social media into the company’s strategy plans for better results according to their purposes. One of the basic keys is to think about the type of content that your potential clients would like to get from your company. The use of media would help businesses to get a facebook page, to find a post about business financing, marketing, entrepreneurship, etc. Considering the assigned articles, how does social media compare to other channels for B2B marketing? One of the benefits of social media marketing is that over 56% of B2B marketers acquired new business partnership through the uses of social media compared to 45% of B2C marketers. Also, another important percent of B2B saw improvements in their social efforts according to the business’ needs. B2B marketers are more able to gather marketplace and to develop loyal customers than the marketers. This is an important observation about why businesses aren’t considering a direct correlation between their social media efforts and increasing sales to reduce marketing expenses. Summarize a conclusion from an assigned article and add your own interpretation of social media for B2B. Provide at least two specific examples of how might you use social media marketing in the Conscious Capitalism simulation to build relationships with business buyers. Defend your choices. One of the benefits for companies to use social media marketing depends on the objective of the marketing campaign. Marketing campaigns for social media have several stages that can be broken down into awareness, interest, desire, acquisition, etc. Social media is primarily used by B2C companies that can easily be used to create awareness and generate interest among the company and the market. The following two stages are desire and acquisition for customers that use social media for B2B companies. On the other hand, for a BTB company, there are several stakeholders that companies may need to reach out to. When organizations uses software like a product such as Adobe, there can be multiple stakeholders. Adding to this, designers are not the ones who make the purchase of the products and services. Finally, the uses of social media are to create awareness among the customers of the products and services. Although, the social media campaigns can be targeted to create more interest in the company. Overall, the use of social media for BTB business is more focused as part of the marketing process that creates awareness and generates interest. However, the customer acquisition process takes much more effort than the use of social media for these types of businesses. References : How to Create a B2B Social Media Strategy (Without Being Boring) retrieved from the file: https://sproutsocial.com › Sprout Blog › Engagement How B2B Marketers Use Social Media: New Research : Social Media … retrieved from the file: https://www.socialmediaexaminer.com/b2b-social-media-marketing-research/ Marketing Management The Marketplace Live …retrieved from the file: https://www.chegg.com/…/course-marketing-management-marketplace-live-simulatio… 1 posts Jonathan Re: Topic 5 DQ 1 Please response to this from a personal perspective. Read his discuss and response to it with positive information that pertain to his discussion Social media marketing not only works for B2C but B2B as well simply by being transparent with their information within social platforms. Social media is used in B2B marketing to promote businesses along with strengthening relationships with one another. As stated by Chaffey (2018) it is not always about the volume of relationships but the quality and depth of the connection. For live simulation, social media outlets are used to target brand exposure towards the places where potential consumers pay attention. Examples of B2B can be LinkedIn or Twitter where the right information is given at the right time to the right people that need. It is difficult to use social media platforms like Facebook or Instagram because of the constant traffic feed not being very business specific or not geared toward solving a dilemma that a company has. Therefore, using conscious capitalism simulation with social media, the strategy is to give information that does not defer from the objective of selling, By doing so, the main plan is to increase search engine optimization where feedback can be evaluated by consumers whom have used products to determine satisfaction of purchases. As Kovac states, “content that speaks to consumers’ needs speaks more than a sales pitch” (2016). References: Chaffey, D. (2018, April 06). Using social media marketing in B2B markets? Retrieved March 21, 2019, from https://www.smartinsights.com/b2b-digital-marketing/b2b-social-media-marketing/b2bsocialmediamarketing/ Kovac, M. (2016, January 04). Social Media Works for B2B Sales, Too. Retrieved March 21, 2019, from https://hbr.org/2016/01/social-media-works-for-b2b-sales-too Kristen: Topic 5 DQ 1 Please response to this from a personal perspective. Read his discuss and response to it with positive information that pertain to his discussion In my opinion, I believe that social media marketing can work in any business environment if an effective marketing strategy is in place. Knowing how to effectively target your audience and translate your product in a positive way, can set your organization apart from others. Even though social media is not the main marketing tool for business to business marketing, it can be useful in today’s society because of the rising growth of social media. More organizations are starting to market their products through social media due to the rapid recognition they could receive. Business to business marketers who know how to effectively communicate with their target market through social media, will see a continues growth of their organization in the future. Considering the two articles, social media compares to other channels of business to business marketing because it is intrinsic to what they do every day whether that is sales or service (Chaffey, 2018). Even for large companies in complex B2B markets, social media offers useful platforms for distributing these new types of content to keep customers engaged with their activities (Kovac, 2016). After doing more research to see how business to business marketing works, I came to the conclusion that a business does not purchase from another business without properly researching the business. This is where social media can come into play, this platform can provide the necessary tools and resources for business who are looking to buy from another particular business. Social media marketing can be used in the simulation to build a stronger relationship with the other businesses that are in my market. For instance, if one of my bikes is popular in one state, I could use the social media platform to have my bike for sale in another bike store in a different state where it was not popular before. Ultimately, bring my business more revenue while gaining more exposure nation-wide. Another example is I could use the social media platform so that businesses can donate old bikes that are still in good condition to the less fortunate. By partnering with other businesses for a good cause could bring more positive attention to my business as well. Knowing how to effectively position and target an audience on social media will drive more businesses to my organization, which can ultimately foster more revenue. Chaffey, Dave. (2018). Using Social Media Marketing in B2B Markets. Smart Insights. Retrieved from: https://www.smartinsights.com/b2b-digital-marketing/b2b-social-media-marketing/b2bsocialmediamarketing/ Kovac, Mark. (2016). Social Media Works for B2B Sales, Too. Harvard Business Review. Retrieved from: https://hbr.org/2016/01/social-media-works-for-b2b-sales-too Amanda Re: Topic 5 DQ 1 Please response to this from a personal perspective. Read his discuss and response to it with positive information that pertain to his discussion Social media definitely plays a role in the business to business marketplace nearly as much as it does in the business to consumer marketplace. Mark Kovac talks about the importance and relevance of social media marketing in the B2B marketplace in his article, “Social Media Works for B2B Sales, too”. He touches on the fact that social media is growing at a rapid place and it can be used as a form of getting buyers necessary information on the products and services being sold in an effective and efficient way. He states, “One effective way to make a strong impression with buyers early in their search is to develop authentic, insightful content and syndicate it through relevant channels where buyers can easily consume it.” While there are other forms of B2B marketing such as paper advertisements, word of mouth, consumer reviews, etc.; social media in my opinion is the quickest and most effective form of marketing in today’s growing and constantly developing society. It delivers consumers needed information and draws them in to the products being sold. As Kovac states, “social media offers useful platforms for distributing these new types of content to keep customers engaged with their activities.” It is the leading form of marketing in the B2C and B2B marketplaces in society today. The overall conclusion of Kovac’s article is that social media has a large impact in the B2B marketplace and delivers buyers information in a way that is filtered and useful to fit their needs. It allows for buyer to evaluate products in a way to determine if the product suits their needs and interests them. My opinion is that social media is extremely present in the B2B marketplace and will continue to be present and growing along with the advances in society. It is used as a channel to effectively and efficiently reach consumers. Two ways that social media can be used with the conscious capitalism simulation is through paid online advertisements as well as developing a social media platform that truly suits the target audience and their wants and needs. This can be done through extensive research and developing a product to meets those consumer needs and the benefits they are searching for. References: “Social Media Works for B2B Sales, Too,” by Kovac (2016), located on the Harvard Business Review website.
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