Word of emouth

I've just seen this recent cross-industry survey into B2B Buyers use of Social Media which compares how decision makers use various types of media through the process of making major business purchases. Good to see some solid research in this area. You can see a quick description of the research here. It revealed that word of mouth was second only to visiting supplier websites when identifying and selecting a supplier. Everyone knows that WoM is important - it was the level that surprised me - it was used by 45% of those surveyed for indentifying potential suppliers and by 40% for actual selection. Around 70% of these people considered WoM to be very influential. It struck me that, since social media is effectively 'word of mouth' and its usage for business is increasing - especially in the up to 30s age group with around 25% already using Twitter and blogs, there is a strong case for believing social media will soon become a key method for B2B purchasing decisions as more buyers seek the opinions of others on line. Businesses adopting a marketing strategy that encompasses social media will increasingly reap the rewards as late adopters' share of online 'voice' decreases.

One note of caution - the report also revealed business users' concerns about the accuracy and reliability of information gathered through social media along with the increasing volume of information to wade through. It seems certain that buyers will become more selective in where they look online. I think it's true that many companies/brands are putting out information and opinion based on existing information found on the social networks and expecting it to work for them. It's a reasonable approach up to a point, but me-too content is as weak as me-too products. I bet the biggest winners in social media marketing will be the ones who put a big effort into creating original content to become valued voices in their industry.