transparency Archives

Infographic: Here’s Why Supply Chain Companies Need to Try Live Video

by Elizabeth Hines | Sep 12, 2019 | Blog, Content Marketing, Marketing, Social Media, Video Marketing

Live video streaming offers businesses a cost-effective strategy for engaging with and appealing to today’s buyers.

With YouTube emerging as the world’s se cond largest search engine and video becoming the most popular form of online content ,it is no surprise that businesses are looking for ways to engage their target audience through video. And they’re even diving into a growing trend in video marketing: publishing content in real time. It makes sense, given live video streaming now represents 33% of all online activity.

Live video was used more for niche markets in its early days. But 68% of marketers plan to start using live video in the next year, and 77% of marketers plan to increase their use of video overall.

(Made with Canva)

How can live video work for the supply chain?

Live video is an increasingly popular content medium for the millennial generation, which is important for supply chain marketers to note as the B2B purchasing landscape skews younger. Consider that around 73% of 20 to 35 year olds are involved in product purchasing decisions at their companies, with one-third reporting being the sole decision-maker for their department. And a 2015 Google/Millward Brown survey of buyers found that about half of purchasing researchers were between the ages of 18 and 24 — and that percentage has only grown in the last few years.

Another important trait to note about millennials? They’re immediately turned off by overt sales pitches. Instead, they expect vendors to offer them value outside the sales funnel by way of education, entertainment, inspiration, or knowledge. So instead of creating video content to promote products, supply chain companies should use the opportunity to provide viewers with these elements of value they expect.

Live video streaming is the ideal medium for doing so, as it offers the transparency, emotion, and personal elements millennial buyers desire. Vendors can connect with buyers on an emotional level while simultaneously communicating their companies’ expertise, which directly impacts the buyers’ opinions of their solutions.

4 reasons to try live video streaming

Live video streaming offers real benefits for supply chain companies in addition to the increasing opportunity to connect with prospective buyers. When clients ask about whether they should try live video, I give them these four reasons:

1. Earn customer/prospect engagement and feedback

Most live video platforms have features that allow for viewer interaction, meaning customers and prospects can ask you questions and get instant responses. (Talk about excellent customer service!) That generates a positive experience that strengthens their relationship with your company. Also, you get the benefit of hearing feedback from a portion of your audience, which you can use to drive change and growth.

2. Promote transparency

Live video can be unpredictable, raw, and honest — which, admittedly, can be scary for the person filming. But today’s buyers crave this kind of transparency. When you go live, things may not always go as planned, but that will work in your favor more often than not.

3. Appeal to those who love to be in-the-minute

Social media users love to feel on top of their information streams. Live video offers that sense of insider, up-to-the-minute scoop that appeals to them.

4. Publish video in a cost-effective way

High-production videos can be costly and can take weeks to produce. One of the best parts about live video is that you need only a smart phone, a Wi-Fi connection, and someone willing to appear on camera (which is sometimes harder than it sounds). Publishing happens in real time, and then most platforms allow you to archive the footage for viewers to access later.

The takeaway

We’ve seen clients have great success with live video streaming. It’s one of those trends that’s not going away anytime soon. In fact, social platforms are increasingly adding “live” and “Stories-like” features to satisfy users’ seemingly insatiable appetite for this format.

That means if you haven’t tried live video, you should think about it. Pretty soon you’ll be one of the only ones among your competitors who is not — if you’re not already.

This post originally appeared on EBN Online.

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Use Social Media to Enhance Supply Chain Transparency

by Fronetics | Feb 12, 2019 | Blog, Marketing, Social Media, Supply Chain

Transparency in your supply chain through social media outlets can give a look inside your company in a way that your customers are craving.

Highlights:

Customers have been demanding more visibility into supply chains of the products they purchase.
Through social channels like Twitter , LinkedIn , and Facebook, companies are greatly enhancing their two-way communication with customers and sharing information with their stakeholders.
The top reason that supply chain companies are choosing to participate in social media is to increase the visibility of their company.

Supply chain management is such a complicated web of factors that most companies choose to keep operations behind the scenes and unveil a finished product with an intense marketing roll-out.

But what if that’s backwards and an outdated approach to marketing? (Hint: It is.)

The complexity of supply chain management

There is no question that SCM can be deeply and frustratingly complex. Consider TechTarget’s definition of SCM: “the broad range of activities required to plan, control and execute a product’s flow, from acquiring raw materials and production through distribution to the final customer, in the most streamlined and cost-effective way.”

With so much intense analysis at every step, the details your supply chain management (SCM) team considers can seem endless, and the impressive knowledge they hold is certainly not something most people can understand.

Or can they? What if that mindset – the one that thinks that your SCM is so complex that it wouldn’t interest or be able to be grasped by your customers – is wrong?

In fact, what if it’s so wrong that you are missing something important? Customers today want to understand your supply chain.

Transparency in your supply chain

A common misconception is that most customers are interested in a final product. Of course, your final product better be outstanding, but there are other factors fueling today’s buyers, business-to-business (B2B) customers included.

For a few years now, customers have been demanding more visibility into supply chains of the products they purchase. For example, they want to ensure sustainable practices around the earth’s scarce resources, to know where their food is sourced, and to confirm ethical pay and conditions for any laborers involved. B2B buyers are no exception. They want their vendors to be more than just a final product too, and are constantly searching for value outside the sales funnel.

Transparency with social media

What if you shared what fueled your daily SCM decisions with your customers, stakeholders, and suppliers? Not every last complex detail…but some of them, and the intangibles too:

What drives SCM decisions besides cost?
Who is your SC team?
Where are you sourcing?
Why do you do things as you do during production?

Transparency of SCM through social media outlets can give a look inside your company in a way that your customers are craving. Through social channels like Twitter , LinkedIn , and Facebook, companies are greatly enhancing their two-way communication with customers and sharing information with their stakeholders.

Of course, the benefits of social media to SCM don’t stop there.The supply chain needs social media for enhanced customer communication, increased industry education, and an ability to socially monitor the market. Social media has the capability to empower your supply chain in multiple ways.

According to a survey we conducted, the top reason that supply chain companies are choosing to participate in social media is to increasing the visibility of their company (95%). Don’t simply focus on your final product(s) and leave out your supply chain! When you make your supply chain transparent to your customers and stakeholders, everyone wins.

This post originally appeared on EBN Online.

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