Using B2B Social Media For Product Development

Product development fot B2B companies is vital in order to stay ahead of the competition.  However, if you’re a small company with a small R&D budget you’ll Using B2B Social Media For Product Developmentdefinitely be at a disadvantage.  So how can you compete with your bigger rivals?  Try using social media when doing your next product development.  Using social media can be a cost effective way to conduct effective product research & development if done correctly.  So how should your B2B company approach social media when using it for product development?  Here’s a few tips:

  1. Establish Objectives – Just like any business effort, you want to establish goals and objectives which will serve to guide your strategy and tactics.  Determine if you’re simply looking to improve a product or create something entirely different.  Finding out what your objectives are will determine what social media platforms will be used.  For example, YouTube would be a great platform to conduct a product demo in order for you to gather feedback.
  2. Q & A – People love to give their opinions about everything.  However, when asking questions in social media make sure they fit the platform you’re asking them on.  For example, asking questions on a blog may illicit a good number of responses whereas asking the same thing on Twitter may see no results.  In addition, there may be others already asking the questions you want to ask so don’t be afraid to join those conversations.  Also don’t forget to record your results so you can later examine them to learn how they effect your product development.
  3. Data Analysis – Now that the work has been done and objectives met, it’s time to analyze the data.  If your social media data shows that a product or service should be improved then by all means improve it.  However, don’t simply stop here.  Share the results of your research with your social media audiences.  They’ll be eager to find out what you’ve come up with as well as what you plan on doing to act on it.  This is a great opportunity to position your new or improved products to potential customers.
B2B companies constantly need to conduct R&D to stay competitive.  Small companies are at a disadvantage but by effectively using social media they’ll be able to compete with their bigger rivals.

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