Major Australian B2Bs develop and adapt their marketing strategy following the emergence of the new media marketing



Major Australian B2Bs develop and adapt their marketing strategy following the emergence of the new media marketing

Introduction

The paper focuses on the emergence of new media, i.e. the social media and how the B2Bs in Australia are adapting new marketing strategy to go along with the new marketing flow and trend. B2B refers to business to business. The aim of B2B buying is the improvement of business performance where the selection and criteria is involved which affects the careers of buyers in long term basis. The perception of B2B companies is that branding must be exercised as emotional and intangible aimed at rationale business buyers. The perception of B2B customers is purchase of good brands with the involvement of business risks and job performance. The aim of the B2B marketing teams is to deliver quality in less time fulfilling the time and resource-poor environment (Harrison and Hague, 2012).

The marketing environment consists of forces which are impacting the B2Bs. These forces are changes in buyer behavior, digital, process re-engineering, data and measurability. The B2B is facing the challenge of digital revolution. Businesses are filling in with marketing messages and information. Customers are widespread through various sources of information where most of it comes from the online world. The consumers have the latest knowledge by researching online and have greater exposure towards marketing influences. The social media is coming in the lives of B2B companies as a pervasive and growing program with service strategy, integrated communications and comprehensive approach. It was the general perception that the social and interactive applications only suit the consumer applications.

The business sector appears to be one sector where the strategic use of social media has exploded. Discussions around social strategies, social marketing, and being a social business now proliferate online and in the literature. Studies suggest that successful use of social media establishes or strengthens relationships and that the main goal of the company's social media strategy should be to connect with people. Others suggest that although social media allows for a greater exchange of ideas, businesses are not using social media to its full potential. Businesses are learning that successful social media use requires an attitude of contribution, willingness to experiment, meet a community's needs, and that their primary activity should not be advertising (Wojcieszak, 2009).

The place of Social Media in B2C and B2B strategies

B2C companies have long ago adopted the social media in their marketing strategies. It is a new adoption of marketing type for B2B companies. The B2B companies are starting to focus on the social media within their marketing strategies and business context. Social media and related marketing strategies are not limited to B2C applications but now are also getting incorporated in B2B applications such as in education, military, government and other important functions. The companies engaged with social media are putting in their efforts to create social network profiles such as brand monitoring, blogs and ...