B2B SOCIAL MEDIA MARKETING
The B2B social currency definition is:
“the extent to which people are sharing information about a brand, company, product or service during their everyday, normal social lives”.
Basically B2B social currency is people talking to one another about your brand.
B2B social currency is increased or decreased online through B2B social media that consists of all the various tools people use to communicate and socialize online.
B2B social currency is developed (or destroyed!) through word-of-mouth, and word-of-mouth, is, as we all know, the most powerful form of marketing!
B2B social currency is influenced by people having conversations…online. Are you listening?...participating?...engaging?...influencing?
Academics have been studying B2B social currency and have developed relatively scientific methods to measure a company or brand’s B2B social currency. The six main measures of B2B social currency are Affiliation, Identity, Utility, Conversation, Advocacy, and Information.
Let’s explain each of the measures of B2B social currency factors. The measure of B2B social currency factors can taken from the answers to the following questions.
Affiliation: “What share of your users has a sense of community oriented around your brand with other users?”
Identity: “How many of your users can identify with other users?”
Utility: “How many derive value from interacting with other users?”
Conversation: “What share of your brand users recognize or create buzz?”
Advocacy: “How many of your users are advocates for your brand and to what degree?”
Information: “How many people feel they trade information about your brand with other users?”
These B2B social currency factors are normally measured via sophisticated polling by professional polling companies. Results of these polls allow companies to compare their B2B social currency factors to those of competitors and then to adjust their B2B social currency plans to make improvements.