The Value of Social Media in B2B
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The Value of Social Media in B2B
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Social media is a vital element in the B2B marketing toolbox—especially considering the need to nurture prospects over long, complex sales cycles. Learn how you can develop meaningful relationships through social media—and ultimately convert followers to loyal customers.
Transcript of The Value of Social Media in B2B
The Value of Social Media in B2B
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• B2B companies that blog generate 67% more leads/month than those who don’t.1
• 41% of B2B companies are acquiring customers through Facebook.2
• Social media helps B2B marketers improve search results.3
1 Hubspot, State of Inbound Marketing Lead Generation Report, 20102 Hubspot, State of Inbound Marketing Report, 20113 BtoB Magazine, July 2010
A Compelling Case for B2B Social Media
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Cisco Shaves $100,000+ Off Product Launch
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SAP Engages Community, Supports Sales
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Avaya Makes $250,000 Sale Via Twitter
Your Mileage May Vary…
Is Social Media Really Different in B2B?
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Yes...and No.
“B2B relationships are fundamentally not about companies but about people.”
— Karen Quintos, Sr. VP and CMO, Dell Inc.
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Business People Are Still People.
86% of business technology buyers use social media during work.
Source: Forrester 2011 B2B Social Technographics Report
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And They Don’t Just Sit on the Sidelines.
32% of business technology decision makers are content creators.
Source: Forrester 2011 B2B Social Technographics Report
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• Longer, more complex buying cycle The average sales cycle has increased 22% over
the past 5 years due to more decision makers involved in the buying process.1
• Multiple stakeholders The higher the price tag, the more people are
involved in the purchase decision.
• Relationships are critical Professional reputations are at stake; buyers
need to trust you.1 SiriusDecisions
Key Differences in B2B
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• Identify the best networks for your business1
Where Should You Be?
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LinkedIn Facebook Twitter YouTube0%
10%
20%
30%
40%
50%
60%
70%
80%
ProfessionalPersonal
Which Social Networks Do IT Buyers Use?
Source: 2010 and Fall 2011 Social Media At Work Studies, UBM TechWeb
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How IT buyers Use Social Networking Sites
To learn about new products, services
To seek advice from peers about technology purchases
To learn about new companies/brands
59%
47%
42%
Source: 2010 and Fall 2011 Social Media At Work Studies, UBM TechWeb
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But buyers and marketers aren’t always on the same page…
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49%
30%
28%
16%
9%5%
ForumsCommunitiesBlogsLinkedInFacebookTwitter
Top Social Networks for B2B Buyers
Source: Forrester 2011 B2B Social Technographics Report
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26%
20%
19%
14%
13%
7%
LinkedInFacebookBlogsCommunitiesTwitterYouTube
Top Networks for B2B Marketers
Source: Emerging Trends in B-to-B Social Media Marketing, Insights from the Field, BtoB Magazine
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• Find your tribe…and go where they go.2
Who Are Your Influencers?
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Identify and Engage Influencers
• LinkedIn Profiles & Groups• Twitter Search, Kurrently• Listorious, Formulists • Twitter Grader, Klout, Peer Index, TweetReach• TweetStats• Monitoring Tools
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B2B Social Media List
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Spiral16 Network Mapping Tool
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• Converting followers to leads to customers 3
How Do You Capture and Nurture Leads?
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Yesterday’s Funnel
Source: Forrester Research, Inc.
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Today’s Reality
Source: Forrester Research, Inc.
5%
50%
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70% of the buyer’s journey is complete before they ever contact sales.
Source: SiriusDecisions
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More than 90% of people will bail rather than fill out your registration form.
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Answer LinkedIn Members’ Questions
Monitor the Twitter Stream…and Engage
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Consider Social Sign-In Options
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Consider Social Sign-In Options
Add Social Elements to Email and Websites
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Add Social Profiles to Registration Forms
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• Relevant content • Trusted relationships4
What Are the Secret Ingredients?
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“No matter what business you are in, buyers are constantly seeking information…. They are not waiting for just the right campaign to come along and solve all their problems with an offer they can’t refuse.”
—Michael Brenner, Sr. Director, Global Integrated Marketing at SAP
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Awareness: Sticky and Shareable
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Awareness: Sticky and Shareable
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Demand Gen: Relevant and Useful
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Demand Gen: Relevant and Useful
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Demand Gen: Relevant and Useful
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Lead Nurture: Clear Pathways
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Lead Nurture: Clear Pathways
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• What does success look like?• Relevant metrics• Measuring the value5
What’s the ROI?
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What’s the ROI of Social Media?
“What’s the ROI of giving all your salespeople a BlackBerry?”
— David Meerman Scott
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What’s the ROI of Social Media?
“What’s the ROI of your [bad word] mother?”
— Gary Vaynerchuk
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But seriously…
When your clients or boss ask about the ROI of social media, what are you going to say?
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Awareness: Increase number of unique visitors by 50%
Lead generation: Increase webinar registrations by 40%
Sales: Increase channel sales by 30%
Customer support: Reduce call center costs by 20%
Start with Strategy: Goals & Objectives
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Metrics: Converting Followers to Customers
Exposure
Influence
Engagement
Action/Conversion
Retention
Lead Gen
AwarenessLoyalty FollowersTweets, RTs and @repliesLikes, +1s, shares, embedsSocial bookmarks
Page viewsReferring URLsInbound linksUnique visitors
Share of voiceSentimentInfluence
DownloadsRegistrationsSubscriptions
Sales $
Contract renewals Up-sellCross-sell
Customer supportCommunity
$
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Thank You.
