Diamonds B2B: why we need to embrace social media

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02 June 22 by Elle Hill

by Elle Hill, founder of ae CEO of Hill & Co., experts in launching and growing diamonds, gemstones and jewelry.

People do business with people they trust. People don’t do business with companies. The human connection, oTheir absence is the main determinant of a company’s success.

This is why trade shows and meetings are an important part of B2B marketing. These allow buyers to meet you, get to know you, and hopefully decide that they trust you.

But these shouldn’t be the only marketing methods you use to facilitate human connection.

Social media, texting, and email have allowed us all to create and deepen human relationships even when we’re not together. Virtually everyone these days has their own online “portal”: their personal social media URLs on LinkedIn, Instagram, Facebook, and TikTok. There you can learn more about them, get to know them, and even figure out if you and the company you work for can or cannot help them.

Many B2B companies have long overlooked or misunderstood how to use technology to amplify offline human connections in ways that contain costs, increase revenue, acquire customers, and increase the lifetime value of each account.

We all know and agree that B2C companies must use digital marketing to sell a product. Nobody questions the budgets that Nike devotes to the marketing of sneakers. But think of the B2B marketing budgets that Microsoft Teams and Zoom have spent, vying for companies to use them globally during the pandemic.

Why don’t we in the diamond industry accept and appreciate that we can and should sell online to B2B buyers?

I have found myself on countless calls with CEOs of multi-million dollar B2B companies, at all levels of the diamond supply chain, who believe that just because they are B2B, the marketing of social media is not a necessary part of their business strategy. And so they don’t learn how to do it, or allocate enough budget to support it.

But B2B buyers are people too. They go through a “purchase journey”, just like B2C customers: idea > info > buy > receive > recommend… and the cycle repeats itself.

At every stage of the buying journey, as businesses selling a product or service, we need to use marketing to provide them with the information they need to continue that cycle.

Look closely. How much of their buying journey is spent in person with you? In your office? Or on the phone with you? Not much at all. In fact, according to Accenture, 57% of the buying process happens online, before they even speak to you or your sales representative.

How do you communicate 24/7 to positively influence them and support them when they are not with you?

You do this by leveraging social media, marketing who you are and what your business does, in an authentic way.

We, as genuine people representing a business, need to show where the buyers we want to meet or sell to are already spending time – and for most of them, that’s on social media. “75% of B2B buyers are influenced by social media when making purchasing decisions” and “80% of business decision makers prefer to get information from social content over paid ads”, reports B2B PR SenseBlog.

Learn how to execute social media marketing to initiate and deepen relationships with buyers and you’ll exponentially increase your opportunities to build trust – the trust that drives revenue.

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