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Exploiting Opportunities in B2B Social Media

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A presentation on ROI, metrics, strategies, and tactics for the B2B social media practitioner, by Frost & Sullivan's global director of social media strategy and research, Jake Wengroff.

A presentation on ROI, metrics, strategies, and tactics for the B2B social media practitioner, by Frost & Sullivan's global director of social media strategy and research, Jake Wengroff.

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  • 1. Exploiting Opportunities in B2B Social Media Jake Wengroff Global Director, Social Media Strategy and Research Frost & Sullivan April 12, 2012
  • 2. 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
  • 3. Social Media as a Revenue OpportunityN98E-72 3
  • 4. Leads and Satisfaction Remain CrucialN98E-72 4
  • 5. Tracking, Measurement, Reporting 5
  • 6. 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
  • 7. 100 Ways to Measure Social MediaN98E-72 7
  • 8. 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
  • 9. 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
  • 10. Screenshot of Social MentionN98E-72 10
  • 11. Screenshot of Dashboard for PR Newswire’s SMM Tool N98E-72 11
  • 12. 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
  • 13. LinkedIn 13
  • 14. LinkedIn Company Page AnalyticsN98E-72 14
  • 15. 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
  • 16. Facebook 16
  • 17. ‘View Insights’ for Your Facebook PageN98E-72 17
  • 18. 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
  • 19. Twitter 19
  • 20. No Native Metrics: TweetStatsN98E-72 20
  • 21. KloutN98E-72 21
  • 22. 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
  • 23. Other B2B Social Networks 23
  • 24. Quora: Question and Answer TimeN98E-72 24
  • 25. Google+: Still in its InfancyN98E-72 25
  • 26. Social Data as Sales Leads 26
  • 27. 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
  • 28. 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
  • 29. 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
  • 30. Software: Free or Paid, Social OverlaysN98E-72 30
  • 31. Anatomy of the ROI of a Social Media Channel 31
  • 32. SlideShare: the Perfect B2B Social Media ChannelN98E-72 32
  • 33. SlideShare: Lead Capture MechanismN98E-72 33
  • 34. Final Words 34
  • 35. Remarks  Accept that you cannot track everything.  Accept that you cannot do it alone.  Accept that you will make mistakes.N98E-72 35
  • 36. 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
  • 37. 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

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