The Value of Social Media in B2B

by Babcock & Jenkins on Oct 12, 2011

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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 t

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The Value of Social Media in B2B — Presentation Transcript

The Value of Social Media in B2B

B2B companies that blog generate 67% more leads/monththan 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, 2010
2Hubspot, State of Inbound Marketing Report, 2011
3 BtoB Magazine, July 2010
A Compelling Case for B2B Social Media

Cisco Shaves $100,000+ Off Product Launch

SAP Engages Community, Supports Sales

Avaya Makes $250,000 Sale Via Twitter

Your Mileage May Vary…

Is Social Media Really Different in B2B?

Yes...and No.
“B2B relationships are fundamentally not about companies but about people.”
— Karen Quintos, Sr. VP and CMO, Dell Inc.

Business People Are Still People.
86% of business technology buyers use social media during work.
Source: Forrester 2011 B2B Social Technographics Report

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

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

Identify the best networks for your business
1
Where Should You Be?

Which Social Networks Do IT Buyers Use?
Source: 2010 and Fall 2011 Social Media At Work Studies, UBM TechWeb

How IT buyers Use Social Networking Sites
59%
47%
42%
Source: 2010 and Fall 2011 Social Media At Work Studies, UBM TechWeb

But buyers and marketers aren’t always on the same page…

Top Social Networks for B2B Buyers
Source: Forrester 2011 B2B Social Technographics Report

Top Networks for B2B Marketers
Source: Emerging Trends in B-to-B Social Media Marketing, Insights from the Field, BtoB Magazine

Find your tribe…and go where they go.
2
Who Are Your Influencers?

Identify and Engage Influencers

LinkedIn Profiles & Groups
Twitter Search, Kurrently
Listorious, Formulists
Twitter Grader, Klout, Peer Index, TweetReach
TweetStats
Monitoring Tools

B2B Social Media List

Spiral16 Network Mapping Tool

Converting followers to leads to customers
3
How Do You Capture and Nurture Leads?

Yesterday’s Funnel
Source: Forrester Research, Inc.

Today’s Reality
5%
50%
Source: Forrester Research, Inc.

70% of the buyer’s journey is complete before they ever contact sales.
Source: SiriusDecisions

More than 90% of people will bail rather than fill out your registration form.

Answer LinkedIn Members’ Questions

Monitor the Twitter Stream…and Engage

Consider Social Sign-In Options

Add Social Elements to Email and Websites

Add Social Profiles to Registration Forms

Relevant content
Trusted relationships
4
What Are the Secret Ingredients?

“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

Awareness: Sticky and Shareable

Demand Gen: Relevant and Useful

Lead Nurture: Clear Pathways

What does success look like?
Relevant metrics
Measuring the value
5
What’s the ROI?

What’s the ROI of Social Media?
“What’s the ROI of giving all your salespeople a BlackBerry?”
— David Meerman Scott

What’s the ROI of Social Media?
“What’s the ROI of your [bad word] mother?”
— Gary Vaynerchuk

But seriously…
When your clients or boss ask about the ROI of social media, what are you going to say?

Start with Strategy: Goals & Objectives

Metrics: Converting Followers to Customers
Page views
Referring URLs
Inbound links
Unique visitors
Contract renewals
Up-sell
Cross-sell
$
Followers
Tweets, RTs and @replies
Likes, +1s, shares, embeds
Social bookmarks
Awareness
Loyalty
Customer support
Community
$
Sales
Lead Gen
Share of voice
Sentiment
Influence
Downloads
Registrations
Subscriptions

Thank You.

The Value of Social Media in B2B

by Babcock & Jenkins on Oct 12, 2011

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The Value of Social Media in B2B — Presentation Transcript