Premier Farnell — an electronics components supplier with $1.4B in 2012 revenue that also operates as Newark in the United States — has a goal to sell to a broader range of design engineers by offering them resources throughout its projects. To do this, the company built a community called element14, which offers resources about all types of electronic design topics and — crucially — does not focus just on products that Premier Farnell supplies. The community has about 120,000 members, and 5% to 7% of them click through from the community to the transactional portion of Premier Farnell's site each day as fully qualified leads. Premier Farnell shows that large corporations can generate substantial new business by offering potential customers vendor-agnostic reasons to visit a new community.
The community also generates new content for the rest of the company's marketing, as 45 experts create a series of new content in the community which provides another reason for customers to return; in fact, a third of the community members return every week.
After the past few months of immersing myself in vendor briefings, demos, customer interviews, scoring methodologies, and writing, I am pleased to announce that the long-awaited Forrester Wave™: Social Depth Platforms, Q3 2013 has been published! We included nine vendors in this Wave and evaluated them across 57 criteria to help marketers select the right technology partner to manage their social activities on their own branded website, microsite, or online community.
Social media has transformed the way that buyers discover, explore, and engage with a brand. As a result, many marketers have invested in establishing a presence on popular social networks like Facebook and Twitter yet are struggling with how to convert interactions on these social networks to a purchase. This is where social depth marketing comes in — by driving people to your own web properties, you can provide credible and current details on your products and services. And social features such as your own blog, ratings and reviews, discussion boards, online communities, and other types of user-generated content can inform and influence a purchase decision. We call these technologies and platforms "social depth platforms":
Social depth platforms are technologies that add social content and experiences to marketing sites.