B2B Marketing Promotions

Business promotion is getting easier and cheaper, thanks to social media. However, don’t mistake cheap and easy with ineffective or a waste of time.

Many experienced businesspeople are still married to traditional marketing and business promotion techniques. They still think in terms of advertising in broadcast and print media. They still think about eyeballs, open rates, and CPMs (cost per thousand views). They’re thinking about impressions, drive time, and prime time. But business promotion has grown beyond traditional marketing and advertising, and moved online.

Why Is Business Promotion Changing?

It’s because of Generation Y and the explosive growth of social media. There are 82 million members of Generation Y (compared to the 78+ million Baby Boomers), and 96% of them are on a social network of some sort. Whether it’s Facebook, MySpace, Twitter, or other networks, these online tools have reshaped business promotion as we know it.

If you want to reach Generation Y through business promotion, consider social media as your best bet. It costs less than traditional advertising, can be targeted to reach only the people you want, and can easily be measured. The problem with traditional advertising is that you can’t effectively measure whether it was your TV commercials or billboards that resulted in increased sales, and even if one of them was more effective.

How Can I Use Social Media for Online Business Promotion?

Social media is all about communicating and building trust through relationships. By speaking to your customer base on their terms and their turf, you can earn their trust a lot more easily, which can make your business promotion much more effective. Generation Y spends a lot of time online, getting their news and entertainment from the web. They communicate via text messages on their cell phone. And they are the biggest consumer of mobile videos of any generation.

Social media is becoming more popular and widespread. The biggest demographic on Facebook may still be Generation Y, but the fastest growing one is women 50 and over. If that was your biggest customer base, how would you reach them? You could advertise during shows that women over 50 typically watch, but you’re not going to necessarily reach them. Plus, you need to repeat those ads many times, which will get expensive. But with Facebook, you can create fan pages and groups specifically for your target audience. You can even purchase ads that are served only to women in their 50s. You can’t do that with traditional advertising.

Your online business promotion campaign should consist of Twitter, Facebook and/or MySpace, and blogging. Set up accounts, fan pages, blogs, and communicate with your potential customers about the things they want to talk about. Don’t tell them what you do, talk to them about what they do, like, and enjoy. Become a resource for their interests by forwarding articles, providing tips, and telling people about other resources that meet their interests and needs.

Whenever possible, use online business promotions to support your offline promotions as well. If you’re attending a trade show, are sponsoring a special event or team, or are still using traditional marketing, tell people about it through your social networks.

If you’re at a trade show, encourage people on Twitter to stop by your booth. If you’re sponsoring a special event, talk it up on your Facebook fan page. Or if you’re sponsoring a sports team, consider setting up a fan page for that team. Put your Twitter account and Facebook URL in your advertisements, and encourage people to follow you or become fans. There’s no reason these two business promotion methods have to be separate.

While we’re not predicting the death of traditional marketing methods, we are encouraging you to add social media as a big part of your business promotion toolbox.