Exploiting Opportunities in B2B Social Media

Exploiting Opportunities in B2B Social Media Jake Wengroff Global Director, Social Media Strategy and Research Frost & Sullivan April 12, 2012

Where to Find Me Jake Wengroff Global Director Follow me on Twitter Social Media Strategy & Research @Frost_Sullivan (210) 247-3806 @JakeWengroff mobile (917) 952-6816 jake.wengroff@frost.com http://www.facebook.com/frostandsullivanhttp://www.linkedin.com/in/jakewengroff http://www.slideshare.net/frostandsullivanN98E-72 2

Social Media as a Revenue OpportunityN98E-72 3

Leads and Satisfaction Remain CrucialN98E-72 4

Tracking, Measurement, Reporting 5

Tracking, Measurement, Reporting  Choose Key Performance Indicators (KPIs)  Consider both free and paid tracking tools  It’s not all about sales (but it helps)N98E-72 6

100 Ways to Measure Social MediaN98E-72 7

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 applicationsN98E-72 8

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 SM2N98E-72 9

Screenshot of Social MentionN98E-72 10

Screenshot of Dashboard for PR Newswire’s SMM Tool N98E-72 11

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 RadarN98E-72 12

LinkedIn 13

LinkedIn Company Page AnalyticsN98E-72 14

The Problem with LinkedIn  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. Source: Frost & Sullivan analysis.N98E-72 15

Facebook 16

‘View Insights’ for Your Facebook PageN98E-72 17

B2B Business on Facebook – Is It There Yet?  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. Source: Frost & Sullivan analysis.N98E-72 18

Twitter 19

No Native Metrics: TweetStatsN98E-72 20

KloutN98E-72 21

Twitter Etiquette – and Opportunity  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. Source: Frost & Sullivan analysis.N98E-72 22

Other B2B Social Networks 23

Quora: Question and Answer TimeN98E-72 24

Google+: Still in its InfancyN98E-72 25

Social Data as Sales Leads 26

Sales: The Ultimate Proof of ROI  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) Source: Frost & Sullivan analysis.N98E-72 27

Social Data as Sales Leads 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.) Source: Frost & Sullivan analysis.N98E-72 28

Computation and Tracking 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. Source: Frost & Sullivan analysis.N98E-72 29

Software: Free or Paid, Social OverlaysN98E-72 30

Anatomy of the ROI of a Social Media Channel 31

SlideShare: the Perfect B2B Social Media ChannelN98E-72 32

SlideShare: Lead Capture MechanismN98E-72 33

Final Words 34

Remarks  Accept that you cannot track everything.  Accept that you cannot do it alone.  Accept that you will make mistakes.N98E-72 35

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.N98E-72 36

Where to Find Me Jake Wengroff Global Director Follow me on Twitter Social Media Strategy & Research @Frost_Sullivan (210) 247-3806 @JakeWengroff mobile (917) 952-6816 jake.wengroff@frost.com http://www.facebook.com/frostandsullivanhttp://www.linkedin.com/in/jakewengroff http://www.slideshare.net/frostandsullivanN98E-72 37

http://img.en25.com	1371
http://www.frost.com	125
http://storify.com	17
https://twimg0-a.akamaihd.net	2
http://www.gilcommunity.com	2
http://www.commapps.frost.com	2
http://www.linkedin.com	1
http://www.frost.com.ezp2.lib.umn.edu	1
http://www.frost.com.proxy.bib.uottawa.ca	1

Exploiting Opportunities in B2B Social Media

by Frost & Sullivan

Accessibility

Categories

Upload Details

Usage Rights

9 Embeds 1,522

Statistics

Exploiting Opportunities in B2B Social Media Presentation Transcript