I just learned that the Equipment Leasing & Finance Foundation has finished their study on “Social Networking for the Equipment Finance Industry 2010“. The executive summary is available at http://www.leasefoundation.org/IndRsrcs/MO/SocMed10/ ; the full study is $300. The author is Suzanne E. Henry.
The study shows that B2B social media marketing in the equipment finance industry is still in the nascent stage, with participants waiting for clearer directions and guidance for return on investment and development strategies. For context, in its report, "B2B Goes Social," marketing agency White Horse reveals that 86 percent of B2B firms are using social media, compared to 82 percent of business-to-consumer (B2C) organizations. However, B2B firms aren’t as active in their social media activity with only 32 percent engaging on a daily basis compared with 52 percent of B2C firms.
The study is a good overview of social media for a B2B executive with little background. The best part of the study are the case studies of:
– GE Capital, undoubtedly the largest equipment leasing and finance industry player, which has been exploring and using social media for more than a year. The organization encompasses corporate lending, vendor/dealer financing, core equipment financing, and specialty finance, including GE Commercial Distribution Finance Corporation, which offers inventory financing;
– Duncan Aviation, the largest family-owned aircraft support facility in North America, which offers comprehensive service for nearly every make and model of business jets and turbo-props; and
– American Express OPEN Forum. American Express OPEN is the leading payment card issuer for small businesses in the United States
For more on the use of social media in the investing industry (at no cost!), see our research.
(Image by billjacobus1 via Flickr)