Post on 14-Jul-2015
Exploiting Opportunities in B2B Social Media
Jake Wengroff
Global Director, Social Media Strategy and Research
Frost & Sullivan
April 12, 2012
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Where to Find Me
Jake Wengroff
Global Director
Social Media Strategy & Research
(210) 247-3806
mobile (917) 952-6816
jake.wengroff@frost.com
Follow me on Twitter
@Frost_Sullivan
@JakeWengroff
http://www.facebook.com/frostandsullivan
http://www.slideshare.net/frostandsullivan
http://www.linkedin.com/in/jakewengroff
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Social Media as a Revenue Opportunity
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Leads and Satisfaction Remain Crucial
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Tracking, Measurement, Reporting
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Tracking, Measurement, Reporting
Choose Key Performance Indicators (KPIs)
Consider both free and paid tracking tools
It’s not all about sales (but it helps)
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100 Ways to Measure Social Media
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Key Performance Indicators
What is valuable to you and your organization?
(What will make you look good?)
If >100 social media indicators exist….
Fans, friends, followers, likes/favorites, comments, ratings,
“buzz”
Pageviews, downloads, embeds/installs
Customer satisfaction, coupon redemption, job applications
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Free and Paid Tracking Tools
Why you need both: start with free, move to paid
Free Tools
SocialMention, HowSociable, Grader.com, TweetStats
Paid Tools
Radian 6, Sysomos, Social Radar, NetBase, Nielsen, Alterian
SM2
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Screenshot of Social Mention
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Screenshot of Dashboard for PR Newswire’s SMM Tool
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Free and Paid Tracking Tools
Ask Others for Help
Premium Tracking Services Might Already Be in Place
Your MIS Department
Adobe Omniture/Digital Marketing Solutions, Webtrends
Your PR Agency
Sysomos’s Media Analysis Platform, Infegy’s Social Radar
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LinkedIn Company Page Analytics
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The Problem with LinkedIn
Source: Frost & Sullivan analysis.
The problem with LinkedIn is that content, community, and connections are driven by individuals, not companies as a whole.
Lead generation and capture is only as good as the individuals sharing valuable, relevant content.
As for making connections, we’ve all been abused and victimized: please use the Golden Rule.
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‘View Insights’ for Your Facebook Page
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B2B Business on Facebook – Is It There Yet?
Source: Frost & Sullivan analysis.
Facebook is Facebook – still primarily a consumer platform.
Those who interact with your page *might* be interested in your company, products, and services.
Should you automatically friend this person? Probably not.
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No Native Metrics: TweetStats
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Klout
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Twitter Etiquette – and Opportunity
Source: Frost & Sullivan analysis.
Cold tweeting is OK.
Auto-Following and auto-DM’ing is not OK.
Is an individual who retweets a lead – or just a contact?
Treat Twitterers differently than you would others online – they are savvier, and probably more mobile.
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Other B2B Social Networks
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Quora: Question and Answer Time
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Google+: Still in its Infancy
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Social Data as Sales Leads
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Sales: The Ultimate Proof of ROI
Source: Frost & Sullivan analysis.
Sales is the strongest indicator of social media ROI and proof of concept
Engages the sales and customer experience departments
Engages (and intrigues) the C-suite
Validates your social media programs and gets you resources (staff, budget)
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Social Data as Sales Leads
Source: Frost & Sullivan analysis.
Use your paid and free tracking tools to discover:
-- Twitterers who retweet your content-- LinkedIn users who follow your Company Page-- Facebook Like’s, Shares, Comments-- Blog commenters
Are these leads? Define ‘lead’ vs. ‘contact’.
Alter your CRM database to accommodate social media information (Twitter handles, LinkedIn profile links, Klout scores).
They may need more nurturing until it is decided that they become qualified leads that the sales team can follow up on.
Market and communicate to these leads through automation programs until they become qualified (ex. ‘SQL’ is Sales-Qualified Lead according to Eloqua and Marketo.)
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Computation and Tracking
Source: Frost & Sullivan analysis.
Total Social Spend (software subs + man hours)
÷
Total Leads from Social Media Efforts
=
Effective Cost per Social Lead
• Continually create reports on leads gathered, conversions, and revenue generated.
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Software: Free or Paid, Social Overlays
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Anatomy of the ROI of a Social Media Channel
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SlideShare: the Perfect B2B Social Media Channel
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SlideShare: Lead Capture Mechanism
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Final Words
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Remarks
Accept that you cannot track everything.
Accept that you cannot do it alone.
Accept that you will make mistakes.
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Remarks
Always ask yourself, “Why is this valuable to my organization?”
DO NOT FORGET to track the metrics that make you look good.
Have your sales, marketing automation, and MIS/analytics team join
your social media ‘dream team’.
Familiarize yourself with your company’s CRM system so you can
connect your metrics to sales and customer satisfaction.
Keep abreast of changes to the social networks and industry trends.
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Where to Find Me
Jake Wengroff
Global Director
Social Media Strategy & Research
(210) 247-3806
mobile (917) 952-6816
jake.wengroff@frost.com
Follow me on Twitter
@Frost_Sullivan
@JakeWengroff
http://www.facebook.com/frostandsullivan
http://www.slideshare.net/frostandsullivan
http://www.linkedin.com/in/jakewengroff