ROI of Social Media B2B oct 2011

The ROI of Social Media: Financial Services and B2B Gerri Leder October 25, 2011 1

The family reunion scavenger hunt (story) Lessons learned: 1. The winner is the often the one with the best strategy 2. Speed is overrated 3. Digital/social media is simply a tool in your strategy 2

Many in social media confuse strategies, platforms and tactics Strategies: – Content strategy: search engine optimization (SEO) – Sponsored search/ Google AdWords (search engine marketing) – Capture followers to build distribution – Brand awareness – Lead capture for other uses Platforms: – Twitter, LinkedIn, Facebook – Blogs, Comments, Chat rooms Tactics: – Email - link to blog – Facebook contest – Monitoring consumer comments – Tweet 3

How did B2B marketers allocate their marketing budget in 2010? Breakdown of digital marketing methods (as a percentage of the total marketing budget) 4Source: Google B2B “2010 Outlook” survey

B2B online marketing spending increases from B2B firms 2010 vs. 2009Source: Google B2B “2010 Outlook” survey 5

Changes in marketing spending 2011vs. 2010: content is new challenge! 6Source: Google 2011 B2B survey

Current gauges of SM success: Metrics CMOs use 63% 66% # of positive 63% Conversion # of fans/ customer 68% mentions members Site traffic … far trickier to Identify the value of social media in dollars and cents 43% 50% 50% # of page Revenue views # of 42% contributors # of posts 7% 41% 15% 23% # of Do not Average Increased mentions track channel order sales value 7% Other 11% Reduced 16% call Reduced volume returnsSource: MDGadvertising; mindjumpers.com 7

Social media may not be for you (at this stage) if thesemetrics are not important to you. 8

How are B2B early adopters using social media?Hint: Integration of traditional and digital mediabalances consumer reach and message control. 9

Business Wire uses guerrilla marketing to win visibilityGoal: Contest to win Facebook followers to Business Wire for future campaigns 10

Ameriprise uses PR and social media to promotenational TV ad campaign (1 of 3) Link to Facebook page Click thru to ads on YouTube 11

Ameriprise bang for the buck (2 of 3) Facebook page reinforces ad messaging 12

Ameriprise TV ads on YouTube (3 of 3) 13

Lessons from a financial marketing consultant1. Social media does not replace or reduce the need for traditional or paid advertising. Nor would you want to launch a traditional advertising campaign without considering use of digital and social media.2. Compliance and regulatory concerns have slowed the adoption of social media by financial services companies and financial advisors in particular.3. Chief marketing officers and sales management executives, not compliance will be the driving force for adopting social media. Insurance companies and RIAs are ahead of other investment firms in employing social media for practice building and networking.4. Social media will be an important networking tool. Think about “when” and not “if”… 14

How can small businesses - RIAs and independent advisory firms maximize ROI on social media? (Case study: small business) 15

One firm’s digital marketing journeyObjective: increase visibility for name and brand among financial servicesexecutives; secondarily, attract Web site visitors and possibly newbusiness inquiries.Strategy: content strategy around financial marketing topics; leveragecontent as much as possible by speaking, writing, social mediaTactics: Email to known prospects (2009 – quarterly & ongoing) LinkedIn (2009) Speaking at industry conferences Leverage content through writing industry articles Conduct/publish survey on Survey Monkey (3/10) Google AdWords (modest budget to test and learn) (7/10 – ongoing) Twitter (7/11 – ongoing) 16

Google Analytics provides this monthly report: 17

Follow the trend to assess ROI 18

ROI: cause and effect 19

Company’s ROI1. Four-fold increase in Web site visitors over 19 months2. Higher visibility on search engines3. More new business inquiries, invitations to speak and write4. Greater understanding of how to impact inquiries – Leading search terms tell what to write and blog about – Top referring sites show who your friends are – Metrics show where to invest in key words In a difficult business climate, company is making the best of business opportunities. 20

7 steps to getting started:1. Be clear about marketing/business strategy driving social media – Take time to assess how social media fits in with comprehensive marketing program – Target audience: how are they engaging?2. Social media will point to your web site: is it social media ready?3. Start with a modest action plan and build on it with new and innovative digital approaches.4. Identify metrics to gauge success5. Assign senior marketing supervision to your social media program6. Test and learn – invest where you are getting the greatest return7. Review often. New releases, new approaches are unfolding. Keep current, make changes are you see what’s working! 21

Good luck! For more information, contact Gerri Leder at: 443-279-7901 leder@ledermark.com www. LederMark.com www.twitter.com/LederMark LederMark Communications is a marketing strategy consulting andcommunications firm serving financial services companies that market through financial advisors. 22

ROI of Social Media B2B oct 2011

by LederMark Communications on Oct 25, 2011

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ROI of Social Media B2B oct 2011 — Presentation Transcript

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