Exploiting Opportunities in B2B Social Media                     Jake Wengroff   Global Director, Social Media Strategy an...
Where to Find Me Jake Wengroff Global Director                                          Follow me on Twitter Social Media ...
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 tr...
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?...
Free and Paid Tracking Tools Why you need both: start with free, move to paid Free Tools         SocialMention, HowSociab...
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  ...
LinkedIn           13
LinkedIn Company Page AnalyticsN98E-72                           14
The Problem with LinkedIn         The problem with LinkedIn is that content, community, and          connections are driv...
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.         ...
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.     ...
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          conce...
Social Data as Sales Leads    Use your paid and free tracking tools to discover:          -- Twitterers who retweet your c...
Computation and Tracking          Total Social Spend (software subs + man hours)                                         ÷...
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 tha...
Remarks         Always ask yourself, “Why is this valuable to my organization?”         DO NOT FORGET to track the metri...
Where to Find Me Jake Wengroff Global Director                                          Follow me on Twitter Social Media ...
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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.

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Exploiting Opportunities in B2B Social Media

  1. 1. Exploiting Opportunities in B2B Social Media Jake Wengroff Global Director, Social Media Strategy and Research Frost & Sullivan April 12, 2012
  2. 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. 3. Social Media as a Revenue OpportunityN98E-72 3
  4. 4. Leads and Satisfaction Remain CrucialN98E-72 4
  5. 5. Tracking, Measurement, Reporting 5
  6. 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. 7. 100 Ways to Measure Social MediaN98E-72 7
  8. 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. 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. 10. Screenshot of Social MentionN98E-72 10
  11. 11. Screenshot of Dashboard for PR Newswire’s SMM Tool N98E-72 11
  12. 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. 13. LinkedIn 13
  14. 14. LinkedIn Company Page AnalyticsN98E-72 14
  15. 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. 16. Facebook 16
  17. 17. ‘View Insights’ for Your Facebook PageN98E-72 17
  18. 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. 19. Twitter 19
  20. 20. No Native Metrics: TweetStatsN98E-72 20
  21. 21. KloutN98E-72 21
  22. 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. 23. Other B2B Social Networks 23
  24. 24. Quora: Question and Answer TimeN98E-72 24
  25. 25. Google+: Still in its InfancyN98E-72 25
  26. 26. Social Data as Sales Leads 26
  27. 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. 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. 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. 30. Software: Free or Paid, Social OverlaysN98E-72 30
  31. 31. Anatomy of the ROI of a Social Media Channel 31
  32. 32. SlideShare: the Perfect B2B Social Media ChannelN98E-72 32
  33. 33. SlideShare: Lead Capture MechanismN98E-72 33
  34. 34. Final Words 34
  35. 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. 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. 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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