Can Group Coupon Sites Work for B2B?

You’ve heard of Groupon and LivingSocial (maybe you even broke the bank buying those darn coupons). But what about B2bucks.com or BizyDeal.com?

While deal-of-the-day group coupons are a big hit with consumers, it’s uncertain whether they’ll catch on in B2B. Still, that hasn’t stopped several sites from trying.

The concept usually involves a minimum number of purchases needed for a deal to be activated, serving as a sort of insurance for advertisers. This works well for B2C deals—although not without some profitability challenges.

In B2B, you’re even less likely to make big money directly from a group coupon offer. And yet, maybe that’s not the point.

The value of a social commerce site, after all, is much more social than commercial. Think of it as another marketing channel to reach and engage new prospects.

So, is a deal-of-the-day right for your business? Depends. It’s a more logical fit for small- to medium-sized businesses with transactional business models. Group coupons can help fill the pipeline with new customers for equipment parts, design and delivery services, etc.

If you decide to give it a try, do so as a marketing and advertising investment. Check out these sites: GroupPrice.com , OfficeArrow.com and RapidBuyr.com … and let us know how it goes.

Update: More Love for B2B Social Media Book

As we posted last week, Eric Schwartzman, a co-presenter with Mary Scheibel at the Plastics News Executive Forum last month, has filled an important gap with a book dedicated exclusively to B2B social marketing, "Social Marketing to the Business Customer."

Plastics News Editor Don Loepp seems to like the book, too. Seeking to expand on the conversation, he’s inviting readers to share how they’ve used social media in imaginative and effective ways. He’s also giving away 3 copies of the book to the best comments, so go ahead and give it a shot if you’re feeling social.

Finally, Some No-Nonsense Pointers on B2B Social Media

Why do so many people continue to view social media as only a B2C realm? Well, it could be the continuing gap between social media hype and actual, practical advice for B2B companies.

But that’s starting to change with folks like Eric Schwartzman and Paul Gillin.

Eric and Paul have co-authored “Social Marketing to the Business Customer,” a new book hailed as the first full social media reference exclusively for B2B marketers. (Full disclosure: our own Mary Scheibel presented with Schwartzman at the Plastics News Executive Forum. But just to be clear, no, this isn’t a paid endorsement.)

We haven’t finished the book yet, but we’ve already picked up on some good points. It turns out B2B companies actually have more presence in social media than B2C folks. The book cites a Business.com report showing that 81% of B2B companies have accounts or profiles on social media sites, while only 67% of B2C companies do the same.

Here are six reasons the authors point to for why this is the case—and why you could benefit from developing a social media strategy, as well:

• Group decision making (typical of B2B transactions) is accelerated when everyone is more aware of the circumstances—a process facilitated through social media.
• Sales cycles shorten, since tools like Skype and LinkedIn make it easier to reach people.
• Good rapport increases persuasiveness, as people are more willing to buy when they’re connecting with the people behind the brands.
• Interactions happen at every level, not just in the boardroom, helping win over key audiences throughout an organization.
• The more communication, the less complex the sale.
• And finally, joint promotion and marketing is more likely. (Take this blog post, for example.)

The Lesson behind AP's 'Email' Change

Sayonara, superfluous hyphens and spaces. The Associated Press has finally acknowledged prevailing use of “email” and “cellphone” as compound nouns.

Silly and insignificant as this development may seem to some people, last week’s AP style changes hold a good lesson for any marketing communications professional.

It’s about more than punctuation dictates. It’s about communicating clearly to your audiences. And that starts with using the same words, in the same way they do. As terminology and technology evolve, you have to keep up to stay in the conversation.

A little caution is necessary, however: Jumping on every latest buzzword bandwagon also risks alienating and confusing audiences (or just seeming desperate).

As much as I might mock the AP for being unhip, there’s something to be said for their measured approach of waiting a while to see what sticks. And so it's “email,” at last—until email itself no longer exists, I suppose.

3 Reasons not to Abandon In-Person for Online

Don’t get us wrong: You definitely should be taking advantage of social media and other online channels to reach target customers cost effectively.

But an article in the latest issue of B2B Magazine is a good reminder of the importance of the flip side to these virtual interactions—real-life, face-to-face meetings.

Despite the considerable cost advantages of digital, every marketer needs to understand the value of balancing online and in the flesh. Whether at a tradeshow, a focus group or a lunch meeting, here are just a few reasons why in person is still in vogue:

· Clear communication. Tone and context can sometimes be lost in virtual interaction. People understand so much better when you can look 'em in the eye.

· Candid insights. Sitting down with customers (or potential customers) will yield more candid responses—especially beneficial when conducting research or building relationships.

· Undivided attention. People are far more likely to multitask in virtual encounters. Meeting them face to face demands their attention, increasing openness and recall.

There’s probably no better day than Friday to catch a potential customer in a good mood, so go ahead and set something up today.

3 SH Clients Earn Awards for Excellence

We’re generally a pretty happy group, especially on Fridays. And right now, we couldn’t be happier, as good client news keeps rolling in. Here’s a trio of shout-outs:

• Plastikos Inc., for winning Plastics News Processor of the Year. Just a few reasons this custom injection molder brought in the big prize: 60% increase in customer base, 45% increase in sales and a 99.6% order-perfection rate.
• Dickten Masch Plastics, the 2010 Wisconsin Manufacturer of the Year. A custom thermoplastics and thermoset molder, DMP took home the award in the large company category for achievements including 20% top-line growth last year and adding 139 new jobs and $10 million in new business.
• DME Company, for making the Quality Leadership 100. The global mold technologies leader earned this top-performer distinction based on scrap and rework as a percentage of sales, rejected parts per million shipped and registration in various standards, among other criteria.

Plastikos, DMP and DME—just three of the great companies we serve who are leading our economy forward. It’s an honor to work with every one!

B2B Research Insight #2: Win by Out-Recruiting the Rest

How will you make sure your organization has the talent you need to succeed, today and in the future?

If you’re like many of the 310 B2B executives we talked to recently as part of a plastics industry research project, chances are you’re not quite sure.

Of our research participants, 71.6% said recruiting and retaining talent is very important to the future of their business. But only 40.5% think they’re doing a good job of that right now. Do a better job, and your company will gain an edge in the intensifying competition for talent.

That’s one of many opportunities and trends uncovered by our research, including:

• Steps companies have taken to strengthen their businesses, from improving operational efficiencies to expanding products and entering new geographies.
• How companies are communicating the improvements they’ve made to both their employees and the marketplace, and how effective their communications are.

The full report, which we’ll be presenting next week at the Plastics News Executive Forum, is packed with interesting and at times surprising data for all B2B marketers.

You’ll soon have a chance to get a copy of the research report, so stay tuned.