Free Fname Lname Essay Example

Introduction

The modern business world continues to experience drastic changes both economically and technologically. As such, business intelligence is critical to the success of any business in the competitive global marketplace. Fortunately, the internet provides a technological competitive advantage. Companies continue to create and enhance consumer awareness by delivering information through social methods of information sharing. Additionally, through such means, the companies also collect vital information about competitors, consumers, employees, and potential markets. Social networking happens to be one of the fastest growing sources of internet business intelligence. Economically, social networking sites are the future of marketing. Global statistic reveals that approximately 62% of businesses implement social media as an effective marketing tool. The main reasons as to why B2Bs turn to social media include; brand awareness, encouragement of social shares, and gaining followers and trust. B2B companies use social media mainly to create brand awareness. Some companies go the extra mile of using social media to drive demand generations as well.
One classic example of B2B marketplace that uses social networking is the case of American Express OPEN. Ames outshines its competitors in an industry not commonly known vibrant in innovating new technologies. Amex particularly deals with travel and entertainment cards. Today, they are at the forefront of the credit card industry having developed one of the most frequently used travel loyalty programs. Amex continues to revolutionize B2B marketing through the development of OPEN Forum social platform that provides information resources for entrepreneurs.

B2B Strategy

The main B2B strategy of American Express is OPEN Forum, a social site that aims to provide advice and information to small entrepreneurs. The social media team frequently updates site with new content such as blog posts and videos. The ‘Idea Hub’ forum happens to be the most outstanding feature allowing members to create networks where they share ideas among themselves and also involve industry experts. Statistically, the social forum attracts more than a million visitors monthly and excess of 18000 members.
The main B2 strategy of Amex is to help businesses remain in business for the longest time possible. With a central focus on tips and insights, OPEN Forum by Amex provides a platform for business owners to exchange ideas and share information so as to acquire requisite knowledge and skills necessary for business success. The platform incorporates quizzes, images, links, questions and answers to foster customer support.

Business Model

The main business model of Amex is a supply chain management and collaborative commerce model. In this type of model, there exists a central hub for the management of a wide range of activities. Amex, in this case, is the central hub of American Express credit card. On the other hand, the buyers, shippers, technology providers and the community all connect to the hub for services. An electronic supply chain coordinates the numerous activities so that the shipment of cards from Amex to the clients happens efficiently and efficiently for all concerned parties.
Amex runs a nationwide ‘Buy Local’ initiative whose primary focus is the positive impact of supporting businesses. The program has support from the federal government and large corporations that create competition in the larger economy.
The Amex Sync Program allows members to connect to their accounts on Facebook and Twitter and helps them to acquire personalized offers. They also receive discounts directly at the point of service. Amex uses such data from the social media to customize customer offers and, as a result, remain on top of the game.
Recently, Amex took the social platform to a whole new level beating fellow online competitors such as Amazon. They created the first social commerce program capable of initiating a transaction using the hashtag. The service, in collaboration with Twitter, allows consumers to pay for products by just using a hashtag after successfully syncing their cards with their Twitter accounts. Evidently, Amex uses digital technology to enhance collaborative planning, design and execution of electronic commerce.

Marketing Strategies

Amex employs a mixture of different marketing strategies in an effort to stay on top the game in the technologically competitive market. Their content marketing strategy revolves around the following key elements:
Well-defined targets: Amex sharply focuses on the principal targets who happen to be the main consumers of its products. In this case, the main target is clientele who use credit cards either for traveling or online shopping. Such clientele, in this case, serve as the model for target buyers.
A broad contextual understanding: Amex deeply understands its customers. The social platform, for instance, represents a responsive measure by Amex to cater for its customers’ needs accurately. As such, it is well aware of those points worth influencing so as to drive conversions towards sales.
Precise conversion goals: The ultimate goal of any company is to convert target buyers into paying customers. As such, Amex embarks on conversion strategy by learning the customers’ needs through various sources such as the social media and developing methodologies to woo the customer to becoming actual buyers. Amex OPEN Forum is one such example where the conversion strategy is to equip customers with knowledge and the turn them into buyers.
The ability to scale: Amex has a good way of repackaging information to suit the need of the user depending on their preferences. The statistics collected from its social forum avails information necessary for customizing products depending on customer needs.

Works Cited

Bodnar, Kipp, and Jeffrey L. Cohen. The B2B Social Media Book: Become a Marketing Superstar by Generating Leads with Blogging, LinkedIn, Twitter, Facebook, E-mail, and More. Hoboken, N.J.: Wiley, 2012. Print.
Cain, Kevin. "Effective Marketing Strategies: 6 Key Elements for B2B Marketers." Content Marketing Institute. 30 Oct. 2013. Web. 26 Feb. 2015. <http://contentmarketinginstitute.com/2013/10/effective-content-marketing-strategy/>.