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Can Social Media Support Enterprise Sales?

by MarcHausman Pupil(May 2009) (rank 120th)
 
 
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There is seldom a quick hit in business-to-business enterprise sales.

Prospects are appropriately demanding. Product features and corporate capabilities must be presented and validated -- repeatedly. Market expertise, thought leadership and industry reputation are constantly judged.

Rush the process and a vendor risks losing the deal. Relationships are cultivated over time and it’s typical for an enterprise sales cycle to be measured in years.

The payoff is sweet. Revenue from an enterprise sale can run well into the millions of dollars. Plus, the lifetime value of a loyal customer can serve as the very foundation of the business.

At Strategic Communications Group (Strategic), the majority of our clients sell sophisticated products or services to government and commercial enterprise customers. As such, our social media and digital communications work has gravitated towards lead generation and sales cycle support (http://strategicguy.blogspot.com/2009/01/why-sell-isnt-four-letter-word.html) for enterprise deals.

We have refined a four-step methodology that allows social media performance to be measured by enterprise deal flow and resulting revenue, rather than merely awareness and positioning.

Step 1 Prioritize the Hot Ones. By working closely with your sales team, a set of prospects can be culled based on their standing in the sales pipeline, intimacy of existing relationship and potential size of the transaction. Typically, we’ll select a list of 15 to 25 prospects which is then reviewed and updated on a monthly basis.

Step 2 Map and Monitor. Compile an overview of each prospect’s engagement in online communities, blogs, Twitter feeds, trade shows and conferences, and advertising activities. Monitor weekly and pay particular attention to new activities and related messaging.

Step 3 Engage in a Prospect’s Communities of Choice. Connect with a prospect through LinkedIn, Facebook and other communities, and then share relevant content from your company’s social media and marketing activities. Also, be sure to demonstrate your interest in the prospect’s views through comments on their blog or invitations to contribute content to your social media programs (http://www.csrperspective.com/2009/04/guest-blog-post-wal-mart-stores-inc.html).

Step 4 Evaluate, evaluate, evaluate. There are two important criteria to use when assessing the impact of social media on enterprise sales activities. There are tactical benchmarks, such as number of prospect connections, comment exchange and participation in content development. And then there is anecdotal feedback from the sales team on how social media and digital engagement has helped move deals forward.

Marc Hausman is president/CEO of Strategic Communications Group, a public relations consultancy based in Silver Spring, Maryland. Read more at http://www.strategicguy.blogspot.com.

 
 

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Related keywords: enterprise, media, public, relations, sales, social

 
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