Social Media Is Not Just for Smaller Companies
The ‘Big Boys’ make big noise and get big results
by Meryl K. Evans, Editor, B2B Social Media Digest
Although it’s harder to get started because of size, approvals, layers of decision makers and other complications, more big corporations than ever use social media today.
That’s no secret. But how to do it right depends on commitment and strategy.
Frost & Sullivan, a giant company with 40 offices and 1,800 employees uses social media effectively. Its strategies are to start small, be consistent, be relevant and don’t be afraid.
Frost & Sullivan social media strategy
Frost & Sullivan raises awareness of the company and its brand by building a presence on several social media sites and through the company blogs. These activities provide stepping stones toward its target audience that result in new and repeat business.
Sarah Saatzer, corporate communications associate for Frost & Sullivan, lists three audiences the company wants to reach with social media:
- Clients. The company updates clients on the analysts’ work and activities.
- Prospects. In connecting with potential clients, the company shares industry coverage and builds relationships to generate interest and business.
- Media. Frost & Sullivan works to be a resource for reporters by sharing analysts’ coverage areas so the analysts can be a resource for future stories.
The team knows that sometimes prospects won’t contact them. “Even if they see a post and don’t reach out to us, we are still raising awareness of our company and coverage areas that they may reference later or pass along to someone else,” says Saatzer. Social networks provide a starting point for conversations. “We want to let them know what we do and how we can help their company and get them in contact with the appropriate research team to make that happen.”
Building a business case for social media
The drumbeat of social media began growing louder when Jake Wengroff, global director of corporate communications, joined the company in June 2008. At this time, several department heads and executives were asking questions about how to best handle and leverage social media.
|
Complimentary eBook Social Media Marketing GPS – 91 Page eBook
Social Media Marketing GPS will tell you the why and how to use social media for marketing, one tweet at a time. You’ll learn the essentials in digestible little spoonfuls. The focus is on how to leverage social media as a vehicle to build and nurture stronger business relationships. Get your copy at no charge. |
The corporate communications team took the lead, creating identities on Twitter and SlideShare by August 2008, and learned as it went along. The team didn’t need to worry about making a business case since this didn’t involve a purchase order or request for funds.
The team worked to incorporate messages, postings and tweets into its daily work and knew that social media would take time.
Outside of the corporate communications team, the company also launched analyst blogs in January 2010 for clients as “a walled garden,” meaning only clients had access. These blogs went public in August 2010.
The preferred social media tools
Like most successful social media users, Frost & Sullivan combines its social network efforts. For example, when staff posts a presentation on SlideShare, they follow it up with a tweet on the Frost & Sullivan Twitter account and post it on the Facebook fan page wall. The company relies on the following five social resources:
- Blogs. Originally, the company managed blogs within a wall, but it recently opened its blogs to the public. Each business unit has its own blog for analysts to share market insights, trends or react to news relevant to the industry.
- LinkedIn. While the company doesn’t have a LinkedIn page, many employees promote Frost & Sullivan on their own LinkedIn pages.
- Facebook. The company uses a Facebook Fan page for linking to presentations and upcoming analyst briefings and to reference media mentions.
- Twitter. The company has a Twitter ID to share the same information offered on Facebook.
- Slideshare. The company also has a Slideshare account for posting presentations that analysts create to brief webinars or presentations from tradeshows or events.
Measuring success
The corporate communication team tracks social media statistics weekly:
- Facebook Page — Weekly updates on number of fans, page visits, comments and wall posts.
- Twitter — Number of followers, tweets and retweets.
- Slideshare — Number of uploaded presentations, comments and people who liked each.
These stats continue to support that more people are becoming familiar the brand, and the company’s social media presence is growing.
Advice to businesses
At first, corporate communications faced obstacles that many businesses do when trying to convince executives about the return on investment of social networking. “Resistance came from senior executives concerned that we would release sensitive client information, or premium data, through social networks. However, we assuaged these fears, and they soon realized that clients were increasingly expecting us to maintain a social footprint, especially those in our technology practice — our largest business unit,” says Wengroff.
He and Saatzer offer the following advice to businesses considering social networking:
- Start small, be consistent. Don’t jump in and create a handful of IDs for multiple social networks. Instead, start with one account and post new content on a regular basis while responding to comments. With each new identity, ensure that branding remains consistent for easier recognition.
- Be relevant. Yes, you need to let others know what your company does, but also tie it to current news and media reports. Blog posts, tweets and other content related to a hot topic often attract the most interest.
- Don’t be afraid. Naturally, a company fears that opening itself to the public could lead to negative comments. Saatzer says, “Many times these comments encourage healthy dialogue between our analysts and a company, which sometimes even leads to a sale. It can give the company a chance to let our analysts know what they are up to and give both parties a new perspective on a topic.”
Wengroff adds, “Another obstacle we had to overcome was that managers were concerned we would create and distribute all of this content, without a way to track its performance and ‘convert’ it to sales leads. As the social web is composed mostly of passive browsers, we have had to demonstrate that we do receive some sales leads from our efforts and that individuals are sharing and favoring our content, which are good indicators that we provide valuable, useful information.”
Frost & Sullivan social media upshot
Goal: Frost & Sullivan’s primary goal is to raise awareness of its brand that people associate with market research or consulting services. “Social media gives us a unified presence and gets our name, logo and coverage areas out there,” Saatzer says. “All of our social media identities are branded with the same logo, images and text.”
Results: The team knows social media has paid off because journalists have contacted them in response to tweets or presentations on SlideShare. Frost & Sullivan also knows it reaches potential clients when hearing from people who ask for more information because of a Facebook comment or a SlideShare presentation. Social networks have helped these potential clients learn about the areas that Frost & Sullivan covers. These contacts regularly lead to a sale or a vendor briefing. Wengroff says, “Success in social media often requires the ability to explain the rules of new media to those who are confused or impatient. Stay the course, keep focused and communicate your results, no matter how small.”
The size of the company shouldn’t deter large firms from using social media. Size has its advantages, and social media is no exception. A bigger base of clients and prospects to start with, a recognized name and brand, a large scope of content and events — all allow big companies to start the social media engine faster.
About the author
Meryl K. Evans is senior editor at InternetVIZ and the content maven behind the Connected Digest, B2B Social Media Digest and Professional Services Journal. Follow her on Twitter @merylkevans, LinkedIn or on Facebook.
