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Social media guide Social media guide Presentation Transcript

  • The Definitive Guide to B2B Social Media A Marketo Workbookwww.marketo.com
  • ContentsWhy Should I Read The Definitive Guide to B2B Social Media? 03 Social Networks 23 Facebook 23Part One LinkedIn 25What is Social Media and Why Does My Business Need It? 04 Online Video 27 Presentation and Document Sharing 28Why Social Media for B2B? 05 Widgets 29Choosing Your Social Media Identity 06 Bookmarking 30Social Sharing 07 Photo Sharing 31Social Validation 08 Podcasting 32Advertising in Social Media 09 Social CRM 33Inbound Marketing 10 CHECKLIST – Pitfalls to Avoid in Social Media Marketing 34Part Two Part FourLaying the Foundation 11 Incorporating Social Media at Every Stage of the Revenue Cycle 35CHECKLIST – Is Your Company Ready for Social Media? 12 Developing Early Stage Leads Before They Enter Your Database (“Seed Nurturing”) 36ACTION ITEMS – Developing a B2B Social Media Plan and Social Media Policy 13 Building Relationships with Known Prospects (“Lead Nurturing”) 37WORKSHEET – Your B2B Social Media Plan 14 Supporting the Sales Cycle (“Opportunity Nurturing”) 39Social Media Policy 16 Deepening Relationships with Existing Customers (“Customer Nurturing”) 40Part Three Part FiveB2B Social Media Tactics and Metrics 17 The ROI of Social Media 41Social Media Tactics for Every B2B Marketer 18 The Challenges of Measuring Social Media 43Blog 19 Focusing on the Business ROI 44Commenting 20 Conclusion 45Microblogging 21 Contact and Acknowledgements 46 © 2010 Marketo, Inc. All rights reserved. 02
  • Why Should I Read The Definitive Guide to B2B Social Media?Why this is importantSocial media is here to stay. This guide shows you how to use social media to drive new business and revenue. WhetherAnd, while consumer marketers may have you’re just starting out or have a well-definedtaken the lead in harnessing its power, B2B social media plan, this guide is your go-tocompanies can no longer afford to ignore it. handbook.As discussed in The Definitive Guide to Lead It’s an introduction to social media, a bestNurturing, B2B buyers are spending a lot more practice survey and a collection of concretetime on the web doing independent research, examples and success stories – plus somegetting information from their peers and ex- killer checklists and tactical tips on every typeperimenting with forums and microblogging. of social media opportunity out there.Like it or not, social media plays a huge role in We hope you find it useful and share with usthe new B2B decision-making process. As your own experiences and best practices soa B2B marketer, you need to learn to leverage we can include them in future editions.it – for building relationships, listening to themarket and influencing buyers before they’re Let’s get social!even identified as potential leads. © 2010 Marketo, Inc. All rights reserved. 03
  • Part OneWhat is Social Media and Why Does My Business Need It? © 2010 Marketo, Inc. All rights reserved. 04
  • Part OneWhat is Social Media and Why Does My Business Need It?The Definition of Social MediaSocial media is the production, consumption and exchange ofinformation through online social interactions and platforms.Why Social Media for B2B?Some Context Because prospects are more likely toBefore Google, the primary way a prospect click-through to third-party reviews or blog Social Media’s Impact on Purchasing Behaviorcould get information about a company was postings to get word-of-mouth recommenda- Types of Online Sources Visited for Company, Brandby engaging directly with a sales person. tions, search engines rank these sites higher or Product InformationMarketing focused on brand building (which in turn makes social content moreand awareness, using mass advertising, accessible). If these social media leads do findtradeshows, PR and print media. Direct mail their way to your company website, they willand cold calling made up the majority of typically contact your company only whentargeted interactions, and marketers passed they’re ready to engage with sales. In thisall new leads – hot or cold – to the sales team way, social media leads present a unique leadfor follow-up. nurturing challenge, and a huge opportunity at the same time.With the arrival of Google in 1998, B2Bcompanies started to focus on search engine What does this mean for B2B companies?optimization (SEO), pay-per-click (PPC) As online activity shifts to social media,advertising and e-mail marketing to drive marketers keen to build brand, buzz, andtraffic to their website; then created content awareness – and generate leads – aresuch as whitepapers and webinars to convert reallocating investment in social media, searchtraffic into leads. The best marketers realized engine optimization, and content marketingthat their leads were often sent too early to instead of mass advertising and traditional PR.sales, and invested in lead scoring and lead At the same time, lead nurturing is evolvingnurturing to find the hot leads and develop to include early relationship building withthe rest. prospects. It starts by sharing relevant information across a variety of social mediaToday, marketing through SEO, PPC and e-mail channels before they ever give you their This graph indicates that buyers look for information fromare still very much a part of the marketing names. These changes are already having social media sites more than corporate websites.mix, but social media sites such as Twitter, a positive impact on lead generation, butLinkedIn, YouTube and SlideShare drive a measurement of ROI remains a majorlarge portion of the B2B interactions on the challenge.web. According to Forrester Research¹, 77% ofB2B technology decision-makers are active in � Laura Ramos, Forrester Research, in the February 20, 2009,social media. “The Social Technographics® Of Business Buyers” report. © 2010 Marketo, Inc. All rights reserved. 05
  • Part OneWhat is Social Media and Why Does My Business Need It?Fundamental Concepts of Social Media MarketingChoosing Your Social Media Identity the industry or their particular field, and are Specialist search engines can fill this gap.Before you engage in social media, it’s usually less promotional. BackType.com is one example.important to decide what your socialmedia identity will be and how you want to Social Media Monitoring (a.k.a. “Listening”) Alerts – view search engine results morerepresent your brand. One of the first things you’ll want to do is efficiently by setting up alerts around listen to the social media conversations that keywords. For example, establish a GoogleIf you plan to join the conversation using a relate to your brand to see what others are Alert for your company name. You may getcompany name or brand name (as opposed to saying about you. Here are a few of the most some irrelevant results but it’s an easy andpersonal accounts) you’ll need to reserve your popular methods: effective way to keep up to date with whatnames on the social sites you want to use. If people are saying about you at no cost.someone has already reserved the name you Twitter Search – search for your brand orwant to use, you may be able to get it back other important keywords; limited to the last Social Media Monitoring Software – a more(some sites side with legitimate trademark 7 to 10 days–older tweets are lost unless you sophisticated approach that lets you:owners over ‘squatters’); but it might be bookmark them or find them using a searchsimpler to choose another name. engine. • Automate searches • Monitor high volume keyword mentionsTo see if your preferred user or company Facebook Search – search all public content across many social media channelsname is available across many sites, use a including everything posted in public fan • Run reports on the mentions of your brand,free tool like Namechk (http://namechk. pages, groups and events. Privacy settings on competitors and top keywordscom) and User Name Check (http://www. personal pages may restrict what you can see.usernamecheck.com). Social media monitoring tools, such as Visible LinkedIn Search – the “Answers” section is the Technologies or Radian6, are available as aA company account using a company name best place to start; see if people have asked software-as-a-service model at a monthly ortends to be used for the purpose of sharing questions about your company, competitors annual fee.corporate information, new features and and industry, and how people responded.functionality, press releases and customer Social media monitoring will also help youcase studies. These corporate accounts Search Engines – many, like Google, capture decide where to get started when beginningare typically for interacting with late-stage social media interactions, so you can find your social media efforts. Start engagingprospects, partners and customers. a specific tweet or blog comment, but can on sites where your company is mentioned be hard to use due to sheer volume of the most, or where you can find the largestPersonal accounts by staff members are results. Search engines may not display blog number of customers.generally used to share information about comments (at the blog owner’s request). © 2010 Marketo, Inc. All rights reserved. 06
  • Part OneWhat is Social Media and Why Does My Business Need It?You can translate what you hear into action. How to Customize Social Sharing According toIf you capture social media conversations in DemandGen Report: The challenge with social sharing, especially for content in e-mailsyour CRM system, you can respond to them or and on landing pages, is customizing the message that is going to be shared. This means sharing more than a URL by adding the content On average, nurtured leadspass them to sales. This is called “Social CRM” title or promotion into the message as well. Fortunately, custom increase produce a 20 percent linksand is discussed in further detail in the “B2B that share your content in social media are easysales opportunities versus in to create. This can beSocial Media Tactics and Metrics” section. done in e-mail or landing pages for many social media sites including nonnurtured leads. LinkedIn, Twitter, Facebook and more.Social Sharing Simply replace (xURLx) with the actual URL and (xTitlex) with the actualSocial media also makes it easy for others to title for these popular sites.share your content. Share on Twitter Link code:A simple way to make your website and blog http://Twitter.com/home?status=(xTitlex and xURLx)social media-friendly is to use a plug-in, such Example:as ShareThis or AddThis. These sites add a http://Twitter.com/home?status=Marketo Leader in Marketingsmall bar or picture to a blog post or web Automation- http://www.marketo.compage that allows content to be distributed to Share on Facebookhundreds of sites. Link code: http://www.facebook.com/sharer.php?u=(xURIx)&t=(xTITLEx)Tips for Sharing and Socializing Content Example: http://www.facebook.com/sharer.php?u=http://www.marketo.• Make sharing options visible and personal com&t=Marketo%20Leader%20in%20Marketing%20Automation• Allow e-mails to be viewed as web pages• Frame web pages with a social bar Share on LinkedIn• Enable forward to a friend Link code: http://www.linkedin.com/shareArticle?mini=true&url={xURLx}&title={x• Stream relevant tweets on the home page This image shows the range of sharing options TITLEx}&summary={xSummaryx}&source={xSourcex}• Pull in latest news and posts to key pages available at the click of a button. Example: http://www.linkedin.com/shareArticle?mini=true&url=http://www. marketo.com&title=Marketo%20Leader%20in%20Marketing%20 Automation&source=Marketo Share on Del.icio.us Link code: http://del.icio.us/post?url=(xURIx);title=(xTITLEx) Example: http://del.icio.us/post?url=http://www.Marketo.com;title=Marketo%20 Leader%20in%20Marketing%20Automation © 2010 Marketo, Inc. All rights reserved. 07
  • Part OneWhat is Social Media and Why Does My Business Need It?The Definition of Social ValidationSocial validation, or social proofing, is a psychological phenomenonthat occurs in ambiguous situations when people do not haveenough information to make opinions independently, and insteadlook for external clues like popularity, trust, etc.Social networks play an influential role when value in what you’re offering. The strongerit comes to mitigating the feeling of risk that your reputation becomes, the more likelyovercomes B2B buyers when trying to solve a other users will start to think likewise.problem or purchase a solution. A huge partof this is from the social validation or social Widget feeds of external comments andproofing inherent to many social media sites. reviewsFor example, sites that focus on bookmarking, You can also use widgets on your web pagesranking, voting, and commenting all to present continuously updated contentincorporate social validation when users give from external sources such as Twitter. Thistheir opinions through comments or ratings. lets viewers see both positive and negative comments – all in the spirit of openness thatB2B companies can use social validation to characterizes social media.help increase their credibility and allay theirprospects’ fears. By opening your website up In this example, MarketingProfs, a popularto the ratings, reviews (and sometimes rants) resource for marketers, displays tweetsof social media, you’re telling your prospects about an upcoming conference on the homethat you value transparency, are open to page of the conference website – unsolicitedfeedback, and can be trusted as a vendor. testimonials are a great source of socialHere are two popular ways to do this: validation.RSS feeds of your own content How Marketo Uses Social ValidationRSS (“Really Simple Syndication”) feeds One way that Marketo incorporates socialoffer subscribers content that’s updated proofing is by marking tweets about ourautomatically. You can use RSS feeds to share marketing automation product as a “favorite”press stories, blog posts, case studies and on Twitter, and providing a link on thetestimonials, or Twitter account tweets via a company website to these “favorites.” Bywidget on a web or landing page. If you use doing so, prospects can quickly and easily seeRSS feeds to direct attention to the valuable what people on Twitter are saying about ourcontent on your web or landing page, users product.will trust your company more as they find Example of Social Validation. © 2010 Marketo, Inc. All rights reserved. 08
  • Part OneWhat is Social Media and Why Does My Business Need It?Advertising in Social MediaThere are two ways to advertise on social media sites:‘Organic’ Advertising – such as status updates A key difference between social mediathat praise your product, fan pages, etc. advertising and PPC advertising is theThe trick is to use this kind of promotion targeting power of social media. A socialjudiciously and transparently. network can use information gathered from members to display your ad to a specific targetPaid Advertising – similar to PPC advertising market based on demographics, behavior, or abut highly targeted because the social combination of both.network can use demographics, behavior ora combination of both to display your ad to With millions of unique visits taking place onspecific users. With the sheer volume of social social media sites every day, advertisers knowmedia visits, it’s a potentially very attractive there are interested eyes ready to look at theiraudience. messages. It’s a growth area of advertising that currently shows no signs of slowingThe concept is simple: be where your down.audience is.Many social media sites, such as LinkedInand Facebook, offer members the abilityto use paid advertising to promote theirbusiness. These programs are very similarto pay-per-click advertising where a text orbanner ad promotes your company. You payfor impressions or click throughs generated byyour ad. © 2010 Marketo, Inc. All rights reserved. 09
  • Part OneWhat is Social Media and Why Does My Business Need It?The Definition of Inbound MarketingA marketing approach that focuses on getting found by prospectsthrough channels such as search engine optimization, social mediasites and word-of-mouth recommendations.Inbound marketing is when prospects seekout your company rather than the otherway around. Take a look at the graph,which represents the raw lead-to-oppor-tunity conversion rates that Marketo hasexperienced.Of course, the real value lies in the numberof leads that convert into real, qualifiedopportunities. This graph clearly showsthat leads generated from word-of-mouth KEYand other inbound leads result in far more Inboundopportunities than traditional “demandgeneration” channels. The beauty of the Traditionalinbound lead lies in its inherent higher levelof interest, because the lead sought out yourcompany. “Your prospect…cares about his boss or the story you’re telling orSocial media offers a great way to generatethese valuable inbound leads because it the risk or the hassle of making a change. He cares about who youaddresses the prospect’s perception of know and what other people will think when he tells them whatrisk. Social media provides the buyer with he’s done after he buys from you.information that supports a decision outsideof the traditional sales or marketing context.Done properly, social media marketing can be The opportunity, then, is not to insist that your customers get moreone of your most effective sources of inbound rational, but instead to embrace just how irrational they are. Giveleads. them what they need.” – Seth Godin, The Rational Marketer (and the Irrational Customer), 2009 © 2010 Marketo, Inc. All rights reserved. 010
  • Part TwoLaying the Foundation © 2010 Marketo, Inc. All rights reserved. 011
  • Part TwoLaying the FoundationSocial media holds tremendous opportunities for B2B companies lookingto drive new business and increase revenue, but only if you first develop asolid foundation and an understanding of what makes the world of socialmedia tick.CHECKLIST – Is Your Company Ready for Social Media?Don’t jump into social media just because everyone else is doing it. Here’s a checklist designed to help youdetermine if your organization is ready and, if so, how to make your efforts successful. My company has clear goals for social media. Be as specific as you can (e.g. increase lead conversion rates, increase the number of qualified leads, build awareness measured by online traffic, decrease the time needed to resolve customer service issues, etc.) and keep these objectives in mind for every initiative you execute. We have the human resources to commit to social media. Before you start a corporate blog or Twitter account, ask yourself if you can allocate the resources needed. Social media is about real-time response and continuously updated information—both of which require commitment and dedication. We produce enough quality content to sustain social media conversations. Content feeds the social media beast. Audit your existing marketing assets and identify the educational pieces—these perform much better in social media than traditional sales collateral. We know which social media sites are popular with our prospects and customers. Do your research and focus your energy and investments where your audiences are. Our company website is prepared for social media attention. Before you set up multiple social media profiles and pages, make sure your own website is in good enough shape to handle the attention (i.e. you’re proud of the way it looks and works). And be sure you have a plan in place to market to the leads generated. We’re ready to incorporate social media strategies throughout the buying process. Social media is not just for the top of the demand generation funnel. It’s important to monitor and track your prospects and customers throughout the revenue cycle. © 2010 Marketo, Inc. All rights reserved. 12
  • Part TwoLaying the FoundationACTION ITEMS – Developing a B2B Social WORKSHEET – Your B2B Social Media Plan Our Example:Media Plan and Social Media Policy Developing a social media plan is similar to Name John SmithAlthough it’s tempting to dive right into the developing any other strategy. While there isvarious social media sites out there, you need no standard approach, the basic components Age 31to develop a social media plan first. Goals and can be addressed by answering these simple Title Director of ITmetrics will help ensure that the time and questions: Industry Commercial Real Estateresources your organization invests in socialmedia are well spent. Because social media • WHO – Who are you targeting with social Buyer Role Influenceris pervasive and easy to participate in, it’s media? Preferred communication method - Personal E-mail, Facebook, Twitterimportant to have guidelines that structure • HOW – How can you deploy social mediayour efforts and prevent any scenarios tactics for measurable success? Preferred communication method - Professional E-mail, SMSthat might have a negative impact on your • WHAT – What goals or objectives do you Preferred social media sites – Personal Facebook, Twitter, Diggcompany. want to accomplish? Time spent on social media – Personal 1 hour per day Who are you targeting with social media? Preferred social media sites – Professional LinkedIn, SlideShare This should be the easiest question to Time spent on social media - Professional 2 hours per day answer. Who are you targeting? Prospects? Customers? Media? All of the above? Once you’ve decided on the targets, flesh out the defining characteristics of each group. Your Turn: If you’ve already read The Definitive Guide Name to Lead Nurturing, you know about the Age importance of developing buyer personas: a fictional character who represents a target Title group. Start by listing the characteristics you Industry would have for a typical buyer persona, but add a social media dimension to it. Buyer Role Preferred communication method - Personal Preferred communication method - Professional Preferred social media sites – Personal Time spent on social media – Personal Preferred social media sites – Professional Time spent on social media - Professional Adding a social media dimension to buyer personas © 2010 Marketo, Inc. All rights reserved. 13
  • Part TwoLaying the FoundationHow can you deploy social media tactics for measurable success?In the next section of this guide, “Social Media Tactics and Metrics,” we’ll address a number of differenttactics that you can employ to achieve the business results you’re seeking through social media. Select a fewthat you think will have the most impact on your organization and start with those.Our Example: Your Turn:Social Media Tactics and Key Metrics for ABC CompanySocial Media Tactic Key Metrics Social Media Tactic Key MetricsBlogging • Number of posts • Audience growth - unique and returns • Number of conversions (e.g. prospect to lead, lead to opportunity, etc.) • Conversion rate (depends on your specific conversion goals) • Subscribers • Inbound links • Technorati, Alltop, and other directory listings • SEO improvementsSocial networks • Number of posts • Referrals from social networks • Reach friends from social networks • Velocity at which friends are built • Influence of friends from social networks • Number of conversions (e.g. prospect to lead, lead to opportunity, etc.) • Conversion rate (depends on your specific conversion goals) © 2010 Marketo, Inc. All rights reserved. 14
  • Part TwoLaying the FoundationWhat do you want to accomplish and what are your distinct action items for each As with any new strategy, trygoal? and test a variety of social media tactics to see which has the mostSocial media requires time, effort and resources. Take the tactics you’ve just significant impact on your goals.decided on and associate clear goals, objectives and action items for each one. For more information on standard social media tactics, objectives and metrics, go to: http://www.marketo. com/B2B-Social-Media-Plan-Tem- plate.pdfOur Example: Your Turn:Social Media Tactic: Blogging Social Media Tactic:Time Invested: 2 hours daily Time Invested:Short-term objective #1: Increase brand awareness Short-term objective #1: • Create blog publication schedule • Add RSS button • Promote thought leadership through blog postings on industry best practicesShort-term objective #2: Increase engagement Short-term objective #2: • Respond to comments within 24 hours • Add links to blog on website and in e-newsletter • Invite relevant guest bloggers and market to their networks © 2010 Marketo, Inc. All rights reserved. 15
  • Part TwoLaying the FoundationSocial Media Policy Set up a basic set of ground rules.The social media landscape can feel Consider some basic tenets that you’d likeunstructured. That’s why it pays to have your company to follow when it comes toa social media policy to guide the actions participation. Intel has a great example of thisof everyone in your organization that will in its social media policy under a section calledparticipate in social media. It’s also essential “Rules of Engagement”.to monitor what’s being said and provideguidelines on how to respond appropriately Address how employees, contractors(without making your employees feel like and consultants should engage with andthey’re being censored). contribute to social media. Decide how your organization will want toA formalized document will help protect your engage as a social media participant andcompany in a legal sense, while ensuring that contributor. Will your company’s social mediayou’re acting consistently across all social conversations come from a single person ormedia sites, and reinforcing your brand and will everyone in your company participate?value in the marketplace (a bit like a corporate Will social media be used as a customerstyle guide). Here are some suggestions: service function, marketing tool or for product marketing research? Be as explicit asDefine what social media means for your possible, and consider all the possible wayscompany. that people could go wrong, without beingWhen people think of social media, some overly dramatic. Remember, your policy isthink strictly in terms of Facebook and an opportunity to get your company excitedLinkedIn, while others would automatically about contributing to social media sites. A great example of a social media policy (“Intel Socialadd Digg and Flickr to the mix. Use your Media Guidelines” at:social media policy to define what the term Stress the importance of confidentiality. http://www.intel.com/sites/sitewide/en_US/means for your entire organization so there’s Encourage your company’s contributors to social-media.htm)no confusion as to when the social media remember the importance of confidentialguidelines apply and when they don’t. information, and to manage their social media contributions just as they would conversations taking place in public. © 2010 Marketo, Inc. All rights reserved. 16
  • Part ThreeB2B Social Media Tactics and Metrics © 2010 Marketo, Inc. All rights reserved. 17
  • Part ThreeB2B Social Media Tactics and MetricsSocial Media Tactics for Every B2B MarketerHere’s a quick review of the major socialmedia applications and how you can use themto achieve your goals. The types of socialmedia tools we’ll cover include:• Blogging• Microblogging• Commenting• Social networks• Online video• Presentation and document sharing• Widgets• Bookmarking• Photo sharing• Podcasting• Social CRMFor a few of these social media tools, we’llprovide you with 101-level introductions tobest practice techniques. Master each tacticfirst before moving on to new approaches. © 2010 Marketo, Inc. All rights reserved. 18
  • Part ThreeB2B Social Media Tactics and MetricsBlogs Blogging – Key MetricsBlogs play a key role in educating prospects for • Number of postslead generation and nurturing. • Audience growth—unique and repeat visitsMany of your most qualified leads—whether • Number of conversions (e.g. prospect toyou’ve identified them or not—are readers lead, lead to opportunity, etc.) • Conversion rate (depending on specificof your blog. This is reason enough to update conversion goals)your blog often to keep readers coming back • Subscribersfor more. Your blog can be one of the most • Inbound linkspowerful marketing assets – if you stick to the • Technorati, Alltop and other directory listingstopics your prospects and customers will find • SEO improvementsmost compelling and avoid the hard sell.Blogs act as a source of valuable content andthought leadership with a “human” face. A search for “b2b marketing” demonstrates how blogThe content on your corporate website postings often yield the highest rankings in organicfocuses primarily on your company, the search results.value of your products and services, and howpotential customers can get in touch with you.This is all very useful and necessary, but a blog “Now visited by over 67 percent of the globaladds a human touch, especially when a blog online population…social networks and blogs…has several contributors. It also lets you focuson your prospect’s agenda instead of yours. have become the fourth most popular online category – ahead of personal e-mail.”Blogs boost your organic search engine by – Global Faces and Networked Places, The Nielsen Company, Marchadding pages to your site and encouraging 2009inbound links.Blogs give you a greater chance of showing upin the right search engine results. It also givesother sites a reason to link to you, increasing Blogs offer the perfect opportunity to “humanize” thethe number of inbound links and boosting web through different voices and perspectives (and photoyour search engine rankings. thumbnails can further enhance the experience). © 2010 Marketo, Inc. All rights reserved. 19
  • Part ThreeB2B Social Media Tactics and MetricsCommenting Commenting – Key MetricsYou can benefit from commenting whether • Number of commentsyou’re the blogger, the commenter on • Increased number of conversions fromsomeone else’s blog or a participant in an commenters (e.g. new leads)online forum—here’s how: • Increased traffic from searchable commentsAs a blogger, write interesting blog posts thatengage readers and encourage comments.Start a two-way conversation by offeringengaging commentary that is insightful andstimulates dialogue—then openly ask forcomments.As a reader, only comment when you havesomething valuable to say. There’s nothingworse than a person who only comments withself-promotion in mind.When someone comments on something Be as engaged as your readers are with theyou’ve said, return the favor. Everyone wants conversation that you started —respond to theirto know that they’re being heard—so reply to commentary and continue the dialogue.them with something more engaging than just‘thank you for commenting’. You might get adebate going. © 2010 Marketo, Inc. All rights reserved. 20
  • Part ThreeB2B Social Media Tactics and MetricsMicroblogging Twitter 101Microblogging is ultra-brief blogging, to follow on sites like Wefollow.com or Just released! New Definitive Guide140 characters or so. The most famous Creating Your Account Twibes.com. to Lead Nurturing – check it outmicroblogging platform is Twitter, but it’s not • When you first create your account, • If using a corporate account, make before your competitors do http://bit.the only one. make a complete profile, with a sure to follow back everyone that is ly/15xXZL picture, links to your company site or following you. You don’t want to upsetFoursquare, another microblogging tool, blog, customized background, and a prospects, customers or partners byencourages users to microblog about their description of what you’ll be tweeting not following them!locations and the places they’re visiting about. Accounts that don’t include this • Read the tweets of those you follow The links in these sample tweetsor activities they’re doing in specific information appear “spammy.” and search for tweets on keywords were shortened for Twitter using URLneighborhoods. Unlike Twitter, Foursquare relevant to your product or service. shorteners like Tiny URL or Bit.ly (they’reutilizes the spirit of competition among its Twitter Following Twitter client applications such as built into Twitter tools like Tweet Deckusers to encourage them to earn points and • Becoming someone’s follower on TweetDeck and Twhirl are useful for and Twhirl).promote customer loyalty for businesses. Twitter accomplishes three goals: organizing your Twitter feeds and • Research has shown that asking for a 1. You identify Twitter accounts that managing multiple microblogging retweet actually increases its chanceGoogle Buzz is a new form of microblogging will be relevant and interesting to accounts. to be retweeted. Just don’t do it withand social networking integrated into the you, your organization and your every tweet—save it for those that areGoogle e-mail platform. The status updates, industry. Interacting with Prospects and Followers most important or relevant.sharing options and geo-tagging for your 2. You let people know that you’re on Twitter • The symbol # on Twitter is knownmobile phone bring together elements found on Twitter, and encourage them to • To engage your followers, tweet a few as a hashtag. These tags are used toon Facebook, Twitter and even Foursquare. follow you back. times a day. Focus on relevant content, affiliate a tweet with a certain topicYou follow people in Twitter fashion and, once 3. You associate yourself with a not what you had for breakfast. and can be useful for tracking socialconnected you can send information direct to specific group of industry experts media campaigns and connecting withyour friends’ inboxes. and thought leaders, and Here are some sample generic tweets customers. demonstrate your interest in the (notice they tend to include links!): • Avoid the temptation to use tools space. that send automatic direct messages. These types of messages are often • Find people to follow by importing construed as spam and may cause your contact databases using tools The new guide on lead nurturing people to “unfollow” you. If you that Twitter provides. Then, broaden answered all our customers’ questions! use them, make sure they provide this action by following those that A whole checklist covered in one paper- value and don’t just say: “Thanks for your followers are following, where Yes! http://bit.ly/15xXZL following me.” relevant. Be sure to follow people that • Keep tweets below 140 characters. It your competitors are following. makes retweeting easier to do. • Do a search for experts in the field • Use Twitter lists to find, group who are tweeting. You can find people together, and follow like-minded users. © 2010 Marketo, Inc. All rights reserved. 21
  • Part ThreeB2B Social Media Tactics and MetricsHere’s why microblogging can be good for Among other online initiatives, IBM took these Microblogging – Key Metricsbusiness: steps to leverage social media: • Number of friends/followersMicroblogging gives people real-time insight • 2nd-order followers (follower’s follower count)into your business in a digestible way. • Set up an IMPACT group on LinkedIn and • Velocity - average of first- and second-order followers attracted perYou present timely information without encouraged users to invite others from day since the account was establishedmaking people visit your website or conduct a their personal networks to join. • Social Capital - influence of Twitter followers • Centralization - how much influence (reach) is invested in a smallsearch. • Tweeted about the event and offered number of followers contests to win one-on-one sessions with • Pages ranking on key terms from microblogging sitesMicroblogging automatically supports SOA experts.permission marketing. • Developed a Facebook page that offered information, video and calls to followIn the case of Twitter, followers choose which conference feed on Twitter.tweets to follow. This makes the platform • Established a “Friends of IMPACT” YouTube Successful Twitter Marketing Tactics Used by B2B and B2Ca great form of opt-in, inbound marketing, channel and invited partners and customers Marketers Worldwide, September 2009 (% of respondents)so it’s worthwhile treating Twitter as a lead to produce and upload their own videosnurturing platform. After all, you never know explaining how IBM SOA solutions had B2B B2Cwhen your followers will convert into leads. helped businesses, and why people should Monitor Twitter for PR problems in real time 40.7 46.9 attend the event. Created an in-person event using only Twitter invites 37.4 36.0Social Media Success Story: Contacting Twitter users tweeting negativelyIBM Uses Social Media Sites to Boost Event Courtesy of “Event Attendance: IBM Gets about the branD 36.7 44.0Attendance and Lead Conversions Social,” Get to the Point e-newsletter,In a MarketingProfs case study, IBM discussed MarketingProfs, February 2010. Driving traffic by linking to marketing webpages 35.7 35.2its success with using social media to increase Provocative text to drive link clicks 34.8 40.6lead conversions and event attendance Invite Twitter users with positive brand tweets to do… 34.0 33.9despite the downturn. According to Increased Twitter following using traditionalMarketingProfs: media mention 30.7 30.4 Timing tweets to maximize views 26.9 30.5IBM sought to drive up registration, closemore SOA business with those who attended Driving sales by linking to promotional webpages 22.4 24.6the conference and generally build more Note: n=722 B2B marketers and n=329 B2C marketers who used the Twitter tacticlasting relationships with attendees and Source: MarketingProfs, ‘The State of Social Media,” provided to eMarketer, Decemberprospects. It wanted higher conversion from 10, 2009leads, because of the economic climate. 109979 www.emarketer.com Retweets promote viral marketing on microblogs. Hashtags provide a streamlined way to organize While some Twitter marketing tactics appeal to both B2B and B2C and track specific topics and events. marketers alike, specific approaches may be more useful than others depending on your specific marketing goals. © 2010 Marketo, Inc. All rights reserved. 22
  • Part ThreeB2B Social Media Tactics and MetricsSocial Networks“To date, Facebook has been predominantly a personal social network,but that hasn’t stopped businesses and their proactive marketing andsales teams from adapting its existing features to suit their networkingand promotional needs. As their own networks of business contactsgrow friend by friend, so does the site’s B2B community as a whole,and the opportunity for interactive marketers to target it.”– Tessa Wegert, “Facebook as a B2B Marketing Tool,” ClickZ.comSocial Networks Facebook 101:Social networking has become a huge forcein people’s personal lives. Businesses are • Don’t “friend” people you don’t know. It’s • Your business can have a Facebook pagenow seeing the potential. There are countless considered bad etiquette to connect with too. If you’re not comfortable with the ideanetworks, but we’re focusing on the two most people you’ve never met or spoken to. It’s of putting yourself out there personally yourelevant and popular: Facebook and LinkedIn. fine to ask someone if you can add them as can still create a profile for your business. a friend, particularly if you’ve only spokenFacebook over the phone. • Try to gather people together by creatingMany businesses are leveraging Facebook groups around particular topics oras a way to create awareness, build their • Take advantage of privacy profiles to interests. This can then become a forum forbrand, promote thought leadership and even manage your personal content separately discussion and sharing, and allows you tomanage events. While the core component from your business content. demonstrate thought leadership.of Facebook is the personal profile, this andother features mentioned below could all be • Like tweets on Twitter, Facebook status • You can use Facebook to invite people toused to promote and market your business. updates can be used to provide bite-size events – whether webinars or in-person yet powerful content that helps with events. This is particularly suitable for moreHere are some additional ways that B2B thought leadership. But keep your updates informal business events where an RSVPcompanies can benefit from Facebook: fresh, interesting and insightful. isn’t necessary.Facebook Pages can help your company build • Add a picture. It’s considered odd not toawareness, share enthusiasm, create loyalty have a picture of yourself on Facebookand strengthen inbound marketing. (although choose carefully: your business contacts will see it). © 2010 Marketo, Inc. All rights reserved. 23
  • Part ThreeB2B Social Media Tactics and MetricsYour Facebook Page is a mini-website Successful Facebook Marketing Tactics Used by B2Bwhere you can share company information, and B2C Marketers Worldwide, September 2009 (% ofgrow a fan base, offer multimedia content, respondents)communicate events and give status updates.All of these contribute to brand awarenessand increased loyalty by keeping prospects B2B B2Cand customers informed. Unlike some Created a survey of “fans” 37.1 37.9Facebook Profiles, pages are public and can “Friending” recent customers with corporateshow up in search results, which means your Facebook profile 34.4 26.3business page can help boost your inbound Used Facebook user data to profile your customersmarketing efforts. demos or interests 33.5 30.5 Creating a Facebook application around a brand 33.1 41.9Facebook Groups let you create your own Driving traffic to corporate materials withcommunity. Creating a Facebook Page is a great way for businesses status updates 29.0 28.4The Group feature is useful for demonstrating to create awareness, increase inbound links and fosteryour company’s passion for a topic, and loyalty. Buying targeted CPC ads on Facebook 24.5 27.1gathers like-minded people to share ideas. Note: n=643 marketers who used the Facebook tactic Source: MarketingProfs, ‘The State of Social Media,’ provided to eMarketer, DecemberThe best part is that the more people join 10, 2009your group, the more it gets promoted to theirfriends and networks, increasing the group’s 109984 www.emarketer.compopularity and growth. As with Twitter, B2B and B2C companies are finding value in Facebook in different ways.“…Approaching your social network marketing with a wordof mouth or viral marketing mentality is important. Viralmarketing is a way of using customers to promote awarenessof your business. One way to think about Facebook for themarketer is that it makes viral marketing simpler.”– Courtesy of Facebook® Marketing For Dummies®, by Paul Dunay and RichardKrueger, Wiley Publishing, Inc., 2010. © 2010 Marketo, Inc. All rights reserved. 24
  • Part ThreeB2B Social Media Tactics and MetricsLinkedIn LinkedIn 101As a leading social networking site forprofessionals, LinkedIn is perfect for B2B • On LinkedIn you can be banned from the • Try to get recommendations from othersorganizations. Its basic functionality is similar site if you try to connect to people you that include positive comments about yourto that of Facebook, but the focus of LinkedIn don’t actually know. But it’s fine to connect company. These comments contribute tois on education, work history, companies and with people that you have known in a social validation about your organizationprofessional interests, which is perfect for the professional capacity, but don’t have a when people view your page.B2B company looking to market and sell to a strong personal connection to.specific business niche and demographic. • Pay attention to the network updates • Aim to send an invitation to connect with you receive from LinkedIn, as they shareHere are a few other ways that B2B companies a person soon after your conversation so important updates about your connectionscan take advantage of the features that he or she remembers the interaction. The and can hold the key to new businessLinkedIn offers: more connections you have the better, opportunities for you and your company. because it indicates a higher number ofUse “shared connections” to make 2nd degree connections (and thus a larger • You may want to consider LinkedIn’sintroductions into companies you want to network). paid services, which will provide moretarget. communication features, communicationOne of the primary capabilities of LinkedIn is • Make sure your profile is as complete as access and more powerful search options.its ability to connect you to a larger network possible. Fill out as much information asof people through your own connections. you can about what you do and why youLinkedIn shows you the degrees of separation have joined the site. Although it’s optionalbetween you and other LinkedIn users, and to add a picture, it’s good to be able tolets you connect with those outside of your put a face to a name and “humanize” yourdirect network through introductions. Use profile.LinkedIn introductions as a form of targetaccount marketing by identifying potentialprospects and asking your own contacts tointroduce you.Build a LinkedIn Group around yourcompany’s specializations and corecompetencies.The Groups feature is a great way todemonstrate thought leadership around aspecific area – and to gain insight into the painpoints of potential customers. © 2010 Marketo, Inc. All rights reserved. 25
  • Part ThreeB2B Social Media Tactics and MetricsResearch LinkedIn Groups to find out where Use LinkedIn Answers to ask thought- Social Networks - Key Metricsyour prospects are hanging out, and join provoking questions or become an • Referrals from social networksthem. “expert” by providing valuable answers and • Connections on social networksLinkedIn Groups makes it easy for B2B demonstrating thought leadership. • Interactions in groups and fan pagescompanies to locate potential customers. LinkedIn Answers are a great way for you • Members of groups and fan pagesSimply make a list of keywords that relate to to demonstrate your interests, expertiseyour prospects or the industries you target, and problem-solving capabilities to entireand run a search for any LinkedIn Groups networks of people, which can indirectlyrelated to these keywords. Once you find the drive interest in your company and newright groups, participate in discussions, ask business. You can do this by asking interestingquestions and make connections. questions, or by providing helpful answers to other people’s questions. Promote events on LinkedIn. The events section of LinkedIn allows event organizers to post events and encourages those attending to RSVP for the event. LinkedIn Groups offer businesses a way to create communities around the best practices in which they specialize. © 2010 Marketo, Inc. All rights reserved. 26
  • Part ThreeB2B Social Media Tactics and MetricsOnline Video Publish online videos on your website and Online Video - Key MetricsWhile YouTube may be known for its videos landing pages without the need for IT. • Referrals from social video sitesof baby animals and college students doing With sites such as YouTube, you can easily • Views of videos on social sitessilly tricks, it also houses a huge assortment of host videos on your landing pages and • Pages ranking on key terms from socialB2B videos. Other popular video sites include websites by using the links and embed code video sitesVimeo and Viddler. that YouTube provides. • Subscribers to video channelsOnline video sites offer B2B companies Get into video viral marketing.a number of opportunities to increase Video sites provide you with the links to letawareness, demonstrate thought leadership you share with others or include the videos onand drive new business. Here are just a few your own site. Determine which videos wouldways: be useful to prospects and include these links in your e-mails, blog posts and otherImprove your SEO. outbound communications.Video links will show up in search engineresults. Just be sure to use clear descriptions Promotional and sales-focused videos areincluding keywords for each of your videos. acceptable and useful. Unlike whitepapers, online videos can be product oriented andIncrease awareness for your company. promotional, such as:Many of your prospects are probably alreadyregistered users of these video sites. Make • Product demosonline videos part of your marketing asset • Customer testimonialsstrategy—you’ll have a presence on sites that • Speaking engagementsyour prospects are already visiting, while • Holiday video cardslooking like a thought leader in your industry. • Vblog (video blog) entries • User generated contentGenerate new leads.Use videos to promote lead generation by You can also separate this content out by usingputting links to offers for additional content channels and by customizing those channels The Salesforce Channel on YouTube is a good example of a brandedlike whitepapers or webinars at the bottom or with your company logo and branding. video experience on YouTube.end of the video. © 2010 Marketo, Inc. All rights reserved. 27
  • Part ThreeB2B Social Media Tactics and Metrics Presentation and Document Sharing -Presentation and Document Sharing “Creating appropriate content to develop a lasting Key MetricsWhile many B2B marketers may be hesitantto release their content for free, social media relationship over a long sales cycle is possible only • Referrals from presentation/documentsites require a shift in mindset. B2B prospects when an organization knows the buyer personas sharing sitesare already educating themselves about your well and understands the sales process in detail.” • Views on presentation/documentcompany’s offerings long before they get in sharing sites – David Meerman Scott, Marketing Products with Very Long Sales • Pages ranking on key terms fromtouch with you—so it makes sense to take Cycles, Web Ink Now blog, 2009 presentation/document sharing sitesadvantage of this and start nurturing them • Subscribers to company profile or pagesright away via sites such as SlideShare andScribd.Audit the content on your corporate websiteand upload key pieces to the right sites.Think of these sites as an extension of the“Resources” or “Downloads” section on yourcompany website, with the added benefit ofeven greater exposure.Upload and share content that addresses yourbuyer personas and start to track which sitesare most popular with each persona.We discussed the importance of mappingcontent to specific buyer personas in TheDefinitive Guide to Lead Nurturing. Make surethe content you distribute on social media TopRank content store on SlideSharesites addresses a full range of your buyerpersonas and, over time, analyze which sitesare most frequented by the personas youtarget. You can then refine which topics andcontent work best on different sites. © 2010 Marketo, Inc. All rights reserved. 28
  • Part ThreeB2B Social Media Tactics and MetricsWidgets Before creating a widget for your company, Widgets – Key MetricsWidgets are stand-alone web applications or think about your goals. • Usage of widgets (by count)tools that provide dynamic content (usually Make sure it provides real value to your • Posts or mentions about social widgetspulled in from a third-party source) to prospects and customers. Otherwise it’s just offsiteenhance a user’s experience. Widgets should window-dressing. • Referrals from offsite widgets (if any)be both relevant and useful. They’re greatviral marketing tools for businesses because Invest in a widget that’s visually appealing andthey offer interesting features and content in easy to understand so people will want to usean easy-to-use application. it often – then make it easy to find on your website. © 2010 Marketo, Inc. All rights reserved. 29
  • Part ThreeB2B Social Media Tactics and MetricsBookmarking Bookmarking – Key MetricsSocial bookmarking lets users share the • Referrals and visits from these siteswebsites that they think are interesting. • Page rankings on key terms from theseThe bookmarks are not stored on an sitesindividual browser, but exist on web-based • Button views – the number of times thebookmarking sites such as Delicious, Digg and sharing icon (button) was viewed on your siteStumbleUpon. B2B companies can benefit • Bookmarks – the number of bookmarktremendously from social bookmarking eventsthrough increased awareness and visibility, • Bookmarking rate – the number ofand in their SEO efforts as well. bookmarks divided by button viewsDeliciousDelicious lets users tag, save and manage theirbookmarks, then share them with other usersthat have similar interests. Users can also seewhich bookmarks are most popular or mostrecent based on Delicious submissions.Digg and StumbleUponDigg and StumbleUpon focus on providingthe “best of the web” by having users voteon what they find most interesting, valuable,entertaining, etc.Once you start identifying the articles that youfind useful and interesting, take note of who’scontributing this content and become friendswith them. They will most likely find what youhave to contribute interesting as well, andcould potentially be customers or partners foryour business. © 2010 Marketo, Inc. All rights reserved. 30
  • Part ThreeB2B Social Media Tactics and MetricsPhoto Sharing Photo Sharing – Key MetricsThe ease at which you can share photos with • Referrals from photo sharing sitesothers is a huge boon for B2B companies. It • Views of photos on social siteslets you record and increase the visibility of • Subscribers to your photo profile orcompany events, industry conferences, user pagesgroups and more. • Pages rankings on key terms from photo sharing sites • Subscribers to your video series orPhoto sharing lets you add a personal, channelhuman touch to your company.By putting a face (or faces) to your companyname, people are more likely to engage withyou.Use shared photos to start conversationswith your prospects and customers, and tolearn more about them.Sharing photos is a great way to engageprospects and customers. Flickr offers theability to add notes to pictures and formgroups that provide discussion forums. Bymonitoring the forums, you can learn more The Group feature on Flickr is an effective way to foster a sense ofabout the interests of your target audiences. community with your prospects and customers by documenting events, engaging in conversations with them and gaining insightImprove SEO by including links on photo sites into their needs and interests.that reference your website or blog.Photos and images are searchable on theweb, so providing relevant links back to yourcompany website and blog through photosharing sites can help drive traffic and improveSEO. © 2010 Marketo, Inc. All rights reserved. 31
  • Part ThreeB2B Social Media Tactics and Metrics“55 percent of respondents said they would be more Podcasting – Key Metricslikely to consume white papers and analyst reports if • Referrals from podcast directories • Views of podcasts (if hosted on podcastthey were delivered as podcasts.” sites)– Research: Podcasts Penetrate B2B Mainstream, MarketingVOX • Number of subscribers and conversionsPodcasting Podcast series offer a unique way to interactThere are a number of podcast directories and converse with your customers andthat can be used to distribute your podcast prospects.content such as your company’s webinars and Many businesses are using podcasts tophone conferences. Below are some ways engage in dialogues with their customerspodcasts can drive B2B success: and prospects. Provide a dedicated phone number or e-mail address associated withPodcasts are automatically distributed to your podcasts so people can respond to you.series subscribers. Then you can dedicate an upcoming podcastWhen you have subscribers to your podcast to answering questions or addressing theseries, their podcatcher applications will feedback you received.automatically recognize and downloadyour latest podcasts. So when you create anew podcast it will reach your subscriberswithout you having to formally execute a newmarketing campaign.Podcast directories and SEO improvements.In addition to the Apple iTunes store, thereare a number of sites dedicated to helpingusers find the most popular and usefulpodcasts according to their interests. Thesepodcast directories are yet another way foryour company to improve its SEO throughadditional inbound links. Podcasts are yet another great way to help your SEO efforts, as users can find your podcasts via your corporate website or through any number of podcast directories. © 2010 Marketo, Inc. All rights reserved. 32
  • Part ThreeB2B Social Media Tactics and MetricsSocial CRM Here are a few ways to shift your mindset to If you understand their interests and needs, Social CRM – Key MetricsSocial CRM is the application of social Social CRM and drive revenue: and give them the tools and resources they • New leads generated from social medianetworking, or Web 2.0 technologies, to the need to solve their business challenges, sitestraditional idea of customer relationship Recognize that B2B buyers are now in control you’ll have positive recommendations (and • Opportunities created from social mediamanagement. This results in a new way of and that they rely on social media to inform new customers) coming out of your ears. sitesthinking about the relationship between their buying processes. • Increased lead-to-opportunity conversion rates from social media sitescompanies and their prospects and customers, Social CRM lets you use social media sites Leverage user-generated content to deepenin which: to educate prospects and promote brand your understanding of prospects and awareness, but also allows you to gain insight customers, and better inform your business• Companies build relationships with into the needs, challenges and interests of processes. prospects long before any contact your target markets. To benefit properly from user-generated information is given content, be sure to monitor the comments• Prospects and customers empower each Move beyond page visits as behavioral and forum areas that they use and put the other within a social community through indicators of buying intent—monitoring insight you gain to good use. There’s a good collaboration, content creation and support social behaviors is a must. chance you’ll hear problems discussed. If• Customers become powerful spokespeople While a prospect’s online behavior and activity so, tackle them head-on. Open and honest and salespeople for companies, products will always be a strong indicator of buying problem management can quickly turn a and services through word-of-mouth rec- intent, social behaviors can be even more negative into a positive. ommendations indicative of buying interest. For example, by monitoring the tweets of your prospects,Accompanying this paradigm shift is the you can ascertain their levels of interest (e.g.evolution of CRM technologies to support when they ask others for opinions on yoursocial media and the power of online products).communities. An example is Marketo SalesInsight, which enables “social selling” by Customers can be your company’s strongestletting sales reps define the “social network” advocates in the social world, so help themof leads and contacts they are interested be successful.in following. It then presents the rep with Social CRM makes it easier to get to knowFacebook-style “status updates” from the your customers on a more personal level,leads and contacts they follow, highlighting which can do wonders as they advocate forthe key moments that indicate buying interest. you in the marketplace. © 2010 Marketo, Inc. All rights reserved. 33
  • Part ThreeB2B Social Media Tactics and MetricsCHECKLIST – Pitfalls to Avoid in Social Media Marketing Don’t dive into social media unless you’re ready. You need objectives, goals and ways to measure success and accountability. Don’t be a big brag. Know the difference between becoming a thought leader and endless self- promotion. Don’t be afraid to try social media because it doesn’t rely on the traditional metrics you’re used to. ROI will be challenging with social media, but there are ways to measure impact if you have a baseline to start with. Don’t use social media sites as advertising opportunities. Keep your brand human on social media sites and save your ad-speak for real advertising. Don’t assume every social media site is good for your business. Research which social media sites your customers frequent and how they prefer to consume content. “Every company needs to have forward-looking insight to compete in today’s 2.0 world. Whether it is exploring pools of profit, the competitive landscape, client needs, or the wisdom of crowds, companies need to see the world for themselves. Seeing the world today involves multiple perspectives and requires not just data but insight from multiple angles.” – Courtesy of The New Language of Marketing 2.0 by Sandy Carter © 2010 Marketo, Inc. All rights reserved. 34
  • Part FourIncorporating Social Media at Every Stageof the Revenue Cycle © 2010 Marketo, Inc. All rights reserved. 35
  • Part FourIncorporating Social Media at Every Stage of the Revenue CycleThe Definition of the Revenue CycleThe revenue cycle is a new and improved way of looking at thetraditional “sales cycle.” In contrast to the sales cycle (which tends tofocus only on the current or subsequent quarter and what happensafter marketing hands a lead off to sales), the revenue cycle startsfrom the day a prospect first hears about a company and continuesto a dialog and then to the sale and beyond to the customerrelationship.Social media plays a key role throughout Seed Nurturing them in your database. These dedicated yetthe entire revenue cycle, beginning before Seed nurturing comes into play when anonymous leads will likely come to you asprospects are even identified (while they qualified prospects visit your site or social inbound leads once their levels of interest areresearch or follow thought leadership on media sites anonymously. It is a vital part of high enough.social media sites) to after they become the sales process that consists of investingcustomers (as they remain loyal customers in and building relationships with prospects Use social media to build a rock-solidthrough retention and cross- and up-sell regardless of whether or not you have their reputation that builds credibility and trustopportunities). contact information. Just because you can’t with prospects. identify these individuals doesn’t mean they While a reputation of thought leadershipThere are four key areas where social media aren’t qualified leads; nurture them just will never be as “risk-reducing” as a personalcan play an expanded role across the revenue as you would the known contacts in your referral, it’s a great way to build awarenesscycle: database. If you don’t, more agile competitors and increase your chances that the prospect will steal these prospects from under your will respond to future demand generation• Developing relationships with very nose. efforts. early-stage prospects before they even enter your database as a lead (“seed Keeping all of this in mind, you can nurturing”) successfully nurture anonymous leads in the• Building and maintaining relationships following ways: with known prospects as they educate themselves (“lead nurturing”) Make valuable content freely available on• Supporting the sales cycle once the buyer social media sites. engages in a formal buying process with a By eliminating the need for registration in sales rep (“opportunity nurturing”) order to obtain your whitepapers, eBooks• Deepening and expanding relationships and other valuable content, you’re building with existing customers (“customer relationships with people before you have nurturing”) © 2010 Marketo, Inc. All rights reserved. 36
  • Part FourIncorporating Social Media at Every Stage of the Revenue CycleA Quick Look at the Basics of Lead Nurturing • Lead Handoff - An automated campaignSocial media shifts our ways of thinking about to pass the lead to sales when it becomesnurturing and building relationships with sales ready.prospects, but the following components are • Lead Recycling – This reassigns and tracksstill essential to any successful lead nurturing leads that for any reason cannot beeffort: pursued by sales in a timely manner. • New Customers – A drip marketing• Incoming Lead Processing Campaigns – campaign that’s optimized for new These enable you to identify sales-ready customers to promote retention and cross- leads versus those requiring further and up-sell opportunities. nurturing. They’re also an opportunity for you to ask prospects to opt-in or opt-out of If you’d like more information on this topic, your nurturing programs. download The Definitive Guide to Lead• Stay-in-Touch Campaigns – These are Nurturing at www.marketo.com/dg2-lead- useful for prospects that are not ready to nurturing. engage with sales. This kind of campaign can form the backbone of your lead nurturing program by dripping out relevant content to prospects over time.• Accelerator Campaigns – These attempt to move prospects along the buying cycle faster by providing relevant “nudges” at the right time, usually triggered by specific buyer behaviors or sales updates.• Lead Lifecycle Campaigns – These maximize marketing’s investment in lead generation by ensuring that leads never The Definitive Guide to Lead Nurturing grow stagnant or lost. Three important A Marketo Workbook categories of Lead Lifecycle campaigns are: © 2010 Marketo, Inc. All rights reserved. 37
  • Part FourIncorporating Social Media at Every Stage of the Revenue CycleNurturing Prospective Leads conversations among people on socialEssentially, you should use social media media sites. Get a strong indication ofinteractions and conversations just as you buying intent by combining knowledge ofwould online activity on your own website—to these interactions with tracking of otherincrease the relevance and targeting of your engagement activities such as e-mail click-marketing and sales efforts. throughs, downloads and web page visits.Here are a few examples of how to use • Interact with prospects over multiplesocial media interactions to bolster your lead media channels.nurturing methods: Integrate social media channels with traditional channels such as e-mail, direct• Focus in and be specific. mail, and phone. Use what you’ve learned from listening to social media conversations to engage with prospects with greater relevancy. For example, after identifying a prospect’s Twitter username, follow his or her Twitter conversations that include keywords that you care about, and track all of this data in your marketing automation system.• Segment and trigger your campaigns based on social interactions. Think about the potential of segmenting and triggering based on explicit © 2010 Marketo, Inc. All rights reserved. 38
  • Part FourIncorporating Social Media at Every Stage of the Revenue CycleOpportunity Nurturing which leads are deemed “hottest” for • Sell using all available channels.Social media can be quite valuable to your sales. For example, if a prospect tweets Social media interactions provide ainternal marketing and sales operations as that they’re interested in opinions on your great way for the individual sales repwell. You can promote greater alignment product, use this activity to trigger a sales to build relationships with contacts,between the two departments by refining the alert indicating a sales-ready lead. especially younger contacts who may belead handoff process and bolstering the “lead as comfortable interacting online as theylifecycle”—the path that your leads take once • Notify sales reps when prospects and are using e-mail or phone. Understandin your lead management system. A successful customers show increased activity or what channels each contact uses tolead lifecycle requires agreement between make interesting comments. communicate, and communicate with himmarketing and sales on what constitutes a Hot leads demonstrate “interesting or her in that manner.“sales-ready” lead, and agreement on when moments” or behaviors that indicate theirand how leads should get recycled back to sales readiness. This might be increasedmarketing for further nurturing. Social media website activity, e-mail click-throughs,interactions can provide deep insight into and in the case of social media, increasedsales readiness and buyer intent, so they are interactions and conversations on socialcritical to keeping leads moving along the lead media sites. By notifying the sales team oflifecycle. these interactions immediately, you will dramatically increase the relevancy andHere are a few key ways you can make timing of their conversations with thesesocial media a deeper part of your sales and prospects.marketing alignment objectives in the future: • Have social media activities play a key role• Use social conversations to enhance your in lead recycling campaigns. lead scoring and impact lead handoff to You could set up a rule whereby an increase sales. in activity on social sites triggers a lead In addition to demographic, BANT and score change that then re-engages the behavioral data, begin to use social lead with sales. While this business rule interactions as factors in your lead scoring will be automatic, be sure to also give sales methodology. Then, tailor your automated the ability to manually indicate a specific business rules for lead handoff to include timeframe in which the lead should be social media interactions. Let social media re-engaged if they have deeper insight into activities trigger the handoff and impact the relationship. © 2010 Marketo, Inc. All rights reserved. 39
  • Part FourIncorporating Social Media at Every Stage of the Revenue CycleCustomer Nurturing more effective by incorporating the socialExisting customers are a tremendous source media segments and triggers we discussedof new and continuing revenue, and should earlier. Over time they will help yoube continuously nurtured just as much as new cross- and up-sell additional products andleads. strengthen customer loyalty.Customer marketing is a worthy investment • Listen to social media conversations of “Once people are aware of your product, a newfor your marketing dollars, and here’s how existing customers for new needs andsocial media can help: requirements, or even the risk of defection dynamic kicks in: people learning from each to your competitors. other. Social technologies have revved up that• Use social media to reaffirm customer Many of your existing customers aren’t purchases after the decision is made. going to tell you explicitly when they need word-of-mouth dynamic, increasing the influence Just because a prospect has agreed to buy an additional product or service from you. of regular people while diluting the value of your product or service doesn’t necessarily So you’re going to have to monitor their traditional marketing.” mean you’re home free. In fact, the period social media interactions to spot the cues. – Courtesy of Groundswell by Charlene Li and Josh Bernoff, Harvard between when a purchasing decision Be especially attentive to the complaints Business Press, 2008. is made to when the deal is signed and of existing customers—you may stop them officially “closed” is critical. Use social from being poached by a competitor. media to reaffirm their choice is the right one. (Read about Social Validation on By incorporating social media into page 7.) lead nurturing, marketers can better understand and interact with prospects• Create lead nurturing campaigns and customers, and increase the relevancy optimized for new customers and of their marketing campaigns and sales incorporate your social media segments conversations. and triggers. When an opportunity is closed and Ultimately, this will increase the volume won, this is the perfect time to put all and quality of sales leads, boost conversion the associated contacts into a new drip rates and help you realize tremendous marketing campaign that’s optimized for revenue growth. customers. Make these campaigns even © 2010 Marketo, Inc. All rights reserved. 40
  • Part FiveThe ROI of Social Media © 2010 Marketo, Inc. All rights reserved. 41
  • Part FiveThe ROI of Social MediaThe Return on Investment of Social MediaThe topic of social media ROI is really a subjectworthy of its own Definitive Guide, but we’lltry to give you enough information in thissection to understand:• How people are measuring social media today• What the challenges are• How to choose the areas of measurement that make the most sense for your businessMany companies fear that there’s no trueway to measure the ROI of social mediaactivities. In comparison to other marketingchannels such as e-mail, SEO, and displayadvertising, social media doesn’t offer a verydirect or concrete ROI measurement. Thisis partly due to the fact that social mediainteractions revolve mostly around onlineconversations, which are not as easy tomeasure quantitatively as click-throughs andCPMs. Because social media is very muchabout the qualitative not the quantitative, thisresults in much debate about what metricsare truly useful and accurate when it comes tosocial media marketing. © 2010 Marketo, Inc. All rights reserved. 42
  • Part FiveThe ROI of Social MediaThe Challenges of Measuring Social Media Social Media Success – Key Metrics • Activity and engagement • Revenue and business developmentJust because measuring social media ROI is a Although the world of social media brings • Cost savingschallenge doesn’t mean it’s impossible. The with it new ways of measuring activities and • Awareness and valueworld of social media ROI is still evolving. In interactions, the traditional ROI metrics of • Sentiment trendsmost cases, we have to rethink traditional revenue – cost savings, conversions, costmetrics to include the ways that people per lead, etc.– are still what matters wheninteract with social media. For example, the it comes to proving the value of your socialstandard metrics for e-mail marketing include media marketing initiatives. While it may bedelivery, open and click-through rates. While difficult to be definite about attributing leadsit’s still possible to find value in measuring to specific social media sources, you can makeclick-throughs from specific URLs on sites such useful correlations between social mediaas Twitter or YouTube, social media also lends and improvements at your organization initself to new categories of measurement, such revenue, website traffic and other areas.as activity and engagement. What an “Inbound Lead” Really Means “Think very carefully about what you areThere’s still a lot of debate around what Much of the difficulty in measuring social“engagement” really means and if it’s media efforts stems from the inbound measuring if you do measure engagement.something that can actually be measured lead. While it’s revered for its high level of If engagement to you is repeat visits byquantitatively. For the purposes of this guide, qualification, interest and sales readiness, it visitors then call it Visit Frequency, don’twe consider engagement to be a category is also difficult to attribute it to any specificof interaction that includes posts/threads, marketing campaign. As we mentioned earlier call it engagement.”comments, tags, votes, bookmarks, and more. in the guide, many inbound leads can be – Avinash Kaushik, Occam’s Razor blog, October 2007 attributed to “word-of-mouth” and partnerAnother important area of measurement or employee referrals. For inbound leadsfor social media is brand and awareness. arriving via a website or phone call, attributionTraditional media might measure brand and to a single referral source can be even moreawareness through reach and frequency: how difficult. Moreover, the idea of “first touch”many people have seen an ad and how many and “last touch” (meaning an original leadtimes they’ve seen it. These days, there are source versus the campaign that really closedtechnologies that measure posts for positive the deal) is even more complex when it comesand negative sentiments, and which measure to social media.“share of voice” (i.e. the number of articles,tweets, posts, etc. in which a specific brand ismentioned in comparison to its competitors). © 2010 Marketo, Inc. All rights reserved. 43
  • Part FiveThe ROI of Social MediaFocusing on the Business ROI In his popular presentation, The Basics ofWhen you’re dealing with a lot of different Social Media ROI, social media consultant Baselines illustrate deltas (changes)B2B marketing channels including social Olivier Blanchard recommends an easy waymedia, e-mail, search and more, it’s easy to start measuring the impact of social media.to get caught up on how each channel is First set up a timeline and draw a line toperforming. However, what matters overall signify the point in time in which you startedwhen you’re talking about ROI is that you’re to use social media in your marketing efforts. Is something happening here?earning more money than you’re spending. Then map onto this timeline the various socialRegardless of which channel you’re talking media activities in which you’re participating,about, the equation for ROI remains the as well as the results (e.g. opportunitysame: creation, new customers, sales revenue, 8% YoY growth 60% YoY growth etc.) that your company has experiencedROI= [(Amount Gained from Investment – since implementing its social media strategy.Cost of Investment)/Cost of Investment] x This will show what type of overall impact100 social media has had, and whether or not it Before social media Since social media has helped you increase your goals over theDon’t let the challenge and uncertainty of baseline. Even with numerous marketing By establishing a baseline and measuring progress over time, companies can begin tomeasuring social media ROI deter you from activities occurring at the same time, you’ll see the effects of social media on growth and revenue. (Image taken from “The Basics offinding value in it. Even if you’re wondering still be able to prove that social media has had Social Media ROI” by Olivier Blanchard.)what “engagement” means for your business a positive impact on your overall business ROI.and how you’re going to measure it, youcan still prove the value of social media byestablishing baselines and tracking your As any B2B marketer knows, it takes multipleprogress. touches to convert a lead into a sale. This “As control of a company’s marketing messages—and, means even those prospects that were indeed, its very brand image—continues to migrate attributed to a PPC or e-mail campaign may have also read your corporate blog and tweets from traditional media to social media, it has become before making the decision to purchase imperative that companies not only pay close attention your product or service. Even though you to how they’re being perceived in online conversations may not be able to get any more granular than “inbound call” or “word-of-mouth” as but that they also take appropriate action, based on the referral sources for some of your leads, you insights they glean. In many cases, their future depends are still making a case for social media in your upon it.” organization. – Jeff Zabin, The ROI on Social Media Monitoring: Why It Pays to Listen to Online Conversation, Aberdeen Group © 2010 Marketo, Inc. All rights reserved. 44
  • ConclusionSocial media is a powerful tool for B2B Love this paper? Share it.marketers. • Tweet this • Share on FacebookBut before jumping on the bandwagon, • Share on Linkedinconsider whether or not it is appropriate foryour business objectives. If it is, then treat Agree or disagree with parts of this paper?it as a critical and accountable part of your Let us know.marketing and sales strategies. • E-mail us at socialmedia@marketo.com • Tweet about the paper using hashtagIt’s important to recognize that the B2B buying #marketoprocess has changed: prospects rely on social • Tell us on our Marketo Facebook Pagemedia to research and educate themselves • Discuss it in our Marketo Linkedin Groupbefore actually engaging with your company.It’s important to consider how social mediaimpacts every stage of the revenue cycle, frombefore prospects are even identified to afterthey become customers and beyond.Forget what everyone else is doing. Choose “Social media challenges nearly every assumption about howthe social media tactics that are right for you.Then get out there and engage – always in the businesses should communicate with their constituencies. Thespirit of experimentation. most important change to understand and to accept is that thoseWhile the ROI of your social media initiatives constituencies now have the capacity to talk – to each other andwon’t be easy to determine, actively to the businesses they patronize. In the past, those conversionsmeasuring everything you can measure is a have been limited to groups of at most a few people. Today, theygreat place to start. Not everything you tryin social media will work. But stick with it are global and may include millions of voices. Once a shift like thisand you’ll develop a powerful new source of occurs, a lot of change happens, both predictable and unforeseen.”revenue that costs a lot less than traditional – Courtesy of Secrets of Social Media Marketing by Paul Gillinmedia. © 2010 Marketo, Inc. All rights reserved. 45
  • Contact UsCall: 650-655-4830 Acknowledgements: Marketo would like to thank the followingE-mail: info@marketo.com thought leaders for contributing to The Definitive Guide to B2B Social Media.Visit our Web site: www.marketo.com Aberdeen GroupTo get The Definitive Guide to Lead Nurturing online, Josh Bernoffvisit: www.marketo.com/dg2-lead-nurturing Olivier Blanchard Sandy CarterTo get The Definitive Guide to B2B Social Media online, ClickZ.com Paul Dunayvisit: www.marketo.com/dg2-b2b-social-media eMarketer.comVisit our blog: blog.marketo.com Forrester Research Paul Gillin Seth Godin IBMAbout Marketo Marketo Lead Management helps Marketers IntelMarketo is the revenue-focused marketing acquire, nurture and qualify more high quality Avinash Kaushikautomation company, revolutionizing how sales leads with less effort, while Marketo Richard Kruegermarketing and sales teams of all sizes sell and Sales Insight helps Sales understand, prioritize Charlene Lisucceed at every stage of the revenue cycle. and interact with the hottest leads and MarketingProfs opportunities to close business faster. Known MarketingSherpaDelivered in the Marketing Cloud, Marketo’s for providing breakthrough innovation and the MarketingVOXpowerful and easy solutions provide the utmost in usability, Marketo was voted ‘Best Mashablefastest time to value and ignite explosive Marketing Automation Application’ and ‘Best The Nielsen Companyrevenue growth from the earliest stages of Mass Emails Solution’ by Salesforce customers Radian6demand generation and lead management to on the Force.com AppExchange. David Meerman Scottthe pursuit of revenue and customer loyalty. Tessa Wegert As of February 2010, more than 400 Jeff Zabin enterprise and mid-market clients in 14 countries have selected Marketo. Designed & illustrated by Velocity Partners, the B2B marketing agency Special thanks to Acquisitive Marketing. © 2010 Marketo, Inc. All rights reserved. 46
  • © 2010 Marketo, Inc. All rights reserved. 47