B2B Social Media: The Quiet Giant<br />Paul Gillin, Author<br />The New Influencers<br />Secrets of Social Media Marketing...
The Media in Collapse<br />Average age of US daily newspaper reader: 57<br />Reduction in US newsroom staffs since 2001: 4...
New Media Facts<br /><ul><li>Facebook is the fastest growing consumer product in history
Word-of-mouth marketing spending will hit $3B by 2013
93% of B2B buyers use search to begin the buying process
Direct-mail spending is expected to decline nearly 40% by 2014
80% of IT decision-makers say word of mouth is their most important source when making buying decisions
Google Processes 38,000 search queries every second</li></ul>Survey of 105 Marketers, April, 2010<br />
The Way It Was<br />
The Way It’s Going<br />
Cut Out the Middleman<br />Today, you can take your message directly to your constituents without relying upon media inter...
If You’re Not Helping, <br />They’re Not Listening<br />
Share Everywhere: Clickable Gurus<br />
<ul><li>Value-drive decision-making
Group consensus
“Bet the business”
Long-term relationships
Audience is knowledgeable, engaged, serious
Intense need for information</li></ul>How is B2B Different?<br />
Calling All Stakeholders<br />
Let’s Define Our Terms<br />Social Media is a set of online tools that your constituents use to communicate with groups of...
Microblogs
Social Networks
Media-Sharing
Forums
Shared Workspaces
Multi-user games
Social news
Virtual worlds
Community reviews
Social bookmarking</li></ul>Survey of 105 Marketers, April, 2010<br />
New World Prospecting<br />OUTBOUND <br />Bottom-up lead gen<br />Enhanced lead qualification<br />Multiple points of enga...
Tools for the Funnel<br />Impression<br />White paper | eBook<br />Analyst report | Publication<br />Blog | Article | Twee...
But is the Funnel Still Valid?<br />Source: Monitor<br />
Just One Guy<br />Estimated monthly traffic: 73,000<br />Google Indexed pages: 6,490<br />Alexis ranking: Top .12%<br />In...
Mainstays of Social Media<br />BtoB Magazine Survey of 387 Marketers, April, 2010<br />
Social Media Adoption by Year, All Platforms <br />Survey of 105 Marketers, April, 2010<br />
Start With the Business<br />Tactics<br />Tools<br />Measurement<br />Business Goal<br /><ul><li>Hire Tech Freelancers
List Rentals
Create CoTweet Account
Increase PR Budget
Hire E-mail Marketing Firm
Initiate Blogger Relations Program</li></ul>Generate 30% More Leads<br /><ul><li>Publish Six New White Papers
Initiate Monthly Webcasts
Sponsor Microsite on TechTarget
Build Targeted Twitter List (500)
Dedicated Monthly E-mail Blast
Promote To Trade Publications
List in Tech Directories
Increase Webcast/White Paper Reg’s by 60%
Increase Traffic to WP Landing Pages 120%
Increase 800-Number Calls by 80%</li></ul>Review and Revise<br />
Use Social Media To…<br /><ul><li>Test Messages
Capture Leads
Strengthen Relationships
Identify Topics
Generate Content
Gather Feedback</li></li></ul><li>Customer & Competitive Intelligence<br />TweetMeme<br />TwitScoop<br />Google Trends<br ...
Gather Feedback<br /><ul><li>Test messages to a community
Limited offers
Private or closed-group discussion
Brand ambassador programs
Competitive intelligence</li></li></ul><li>Other Ways to Generate Content<br /><ul><li>Barter blogger posts
Ask a question, feature best answers
Bookmark and republish favorite tweets
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PRSA Seminar, 10/17/10

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Conventional wisdom says that social media is not appropriate for B-to-B marketing —conventional wisdom is wrong. Across the corporate landscape, businesses ranging from banks to high-tech firms to plumbing supplies, are successfully applying social media tools to connect with customers, channel partners and suppliers.

In this seminar, you will learn about:
* Sophisticated applications, such as social networks and customer co-creation.
* B-to-B social media marketing, beyond blogs.
* What innovators are doing to effect results in the B-to-B space.

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PRSA Seminar, 10/17/10

  1. 1. B2B Social Media: The Quiet Giant<br />Paul Gillin, Author<br />The New Influencers<br />Secrets of Social Media Marketing<br />Social Marketing to the Business Customer<br />
  2. 2. The Media in Collapse<br />Average age of US daily newspaper reader: 57<br />Reduction in US newsroom staffs since 2001: 45%<br />US Magazine Circulation<br />Growth in NBC prime time audience, 2008: -14.3%<br />Age of average network evening news viewer: 63<br />
  3. 3. New Media Facts<br /><ul><li>Facebook is the fastest growing consumer product in history
  4. 4. Word-of-mouth marketing spending will hit $3B by 2013
  5. 5. 93% of B2B buyers use search to begin the buying process
  6. 6. Direct-mail spending is expected to decline nearly 40% by 2014
  7. 7. 80% of IT decision-makers say word of mouth is their most important source when making buying decisions
  8. 8. Google Processes 38,000 search queries every second</li></ul>Survey of 105 Marketers, April, 2010<br />
  9. 9. The Way It Was<br />
  10. 10. The Way It’s Going<br />
  11. 11. Cut Out the Middleman<br />Today, you can take your message directly to your constituents without relying upon media intermediaries<br />And why would you not want to do that?<br />
  12. 12. If You’re Not Helping, <br />They’re Not Listening<br />
  13. 13. Share Everywhere: Clickable Gurus<br />
  14. 14. <ul><li>Value-drive decision-making
  15. 15. Group consensus
  16. 16. “Bet the business”
  17. 17. Long-term relationships
  18. 18. Audience is knowledgeable, engaged, serious
  19. 19. Intense need for information</li></ul>How is B2B Different?<br />
  20. 20. Calling All Stakeholders<br />
  21. 21. Let’s Define Our Terms<br />Social Media is a set of online tools that your constituents use to communicate with groups of friends or people with similar interests. They include:<br /><ul><li>Blogs
  22. 22. Microblogs
  23. 23. Social Networks
  24. 24. Media-Sharing
  25. 25. Forums
  26. 26. Shared Workspaces
  27. 27. Multi-user games
  28. 28. Social news
  29. 29. Virtual worlds
  30. 30. Community reviews
  31. 31. Social bookmarking</li></ul>Survey of 105 Marketers, April, 2010<br />
  32. 32. New World Prospecting<br />OUTBOUND <br />Bottom-up lead gen<br />Enhanced lead qualification<br />Multiple points of engagement<br />INBOUND <br />SEO<br />Blogs<br />Twitter<br />Content Premiums<br />Word of Mouth<br />
  33. 33. Tools for the Funnel<br />Impression<br />White paper | eBook<br />Analyst report | Publication<br />Blog | Article | Tweet | Podcast<br />Sales<br />Lead<br />Quality Contact<br />Case study | Video testimonial<br />Guided tour | Product demo<br />Webinar | Press coverage<br />Glossary | ROI calculator<br />Prospect<br />Free trial/Consultation<br />Help desk | Chat | Forum<br />Training | Usage tips <br />Contact information<br />Customer<br />Source: NowSpeed Marketing, Inc.<br />
  34. 34. But is the Funnel Still Valid?<br />Source: Monitor<br />
  35. 35. Just One Guy<br />Estimated monthly traffic: 73,000<br />Google Indexed pages: 6,490<br />Alexis ranking: Top .12%<br />Inbound links: 850,771<br />Del.icio.us bookmarks: 1,776<br />New York Times citations: 115<br />Computerworld citations: 146<br />InformationWeek citations: 89<br />Newsletter subscribers: 150,000<br />
  36. 36. Mainstays of Social Media<br />BtoB Magazine Survey of 387 Marketers, April, 2010<br />
  37. 37. Social Media Adoption by Year, All Platforms <br />Survey of 105 Marketers, April, 2010<br />
  38. 38. Start With the Business<br />Tactics<br />Tools<br />Measurement<br />Business Goal<br /><ul><li>Hire Tech Freelancers
  39. 39. List Rentals
  40. 40. Create CoTweet Account
  41. 41. Increase PR Budget
  42. 42. Hire E-mail Marketing Firm
  43. 43. Initiate Blogger Relations Program</li></ul>Generate 30% More Leads<br /><ul><li>Publish Six New White Papers
  44. 44. Initiate Monthly Webcasts
  45. 45. Sponsor Microsite on TechTarget
  46. 46. Build Targeted Twitter List (500)
  47. 47. Dedicated Monthly E-mail Blast
  48. 48. Promote To Trade Publications
  49. 49. List in Tech Directories
  50. 50. Increase Webcast/White Paper Reg’s by 60%
  51. 51. Increase Traffic to WP Landing Pages 120%
  52. 52. Increase 800-Number Calls by 80%</li></ul>Review and Revise<br />
  53. 53. Use Social Media To…<br /><ul><li>Test Messages
  54. 54. Capture Leads
  55. 55. Strengthen Relationships
  56. 56. Identify Topics
  57. 57. Generate Content
  58. 58. Gather Feedback</li></li></ul><li>Customer & Competitive Intelligence<br />TweetMeme<br />TwitScoop<br />Google Trends<br />Social Tools Can Help You Choose Topics for Your Communications<br />Most E-mailed<br />Survey of 105 Marketers, April, 2010<br />
  59. 59. Gather Feedback<br /><ul><li>Test messages to a community
  60. 60. Limited offers
  61. 61. Private or closed-group discussion
  62. 62. Brand ambassador programs
  63. 63. Competitive intelligence</li></li></ul><li>Other Ways to Generate Content<br /><ul><li>Barter blogger posts
  64. 64. Ask a question, feature best answers
  65. 65. Bookmark and republish favorite tweets
  66. 66. Invite photos, videos and stories
  67. 67. Poll and promote
  68. 68. Ask feedback and cherry pick
  69. 69. Plant seed questions and invite debate</li></ul>Survey of 105 Marketers, April, 2010<br />
  70. 70. Thought Leadership<br />
  71. 71. Advise and Inform<br />
  72. 72. Generate Content<br />“Rubbermaid saw a 5% incremental increase in conversion for review readers, compared to those who do not read reviews. In addition, review readers are 62% more likely to continue to engage.”<br />--BazaarVoice Case Study<br />
  73. 73. Humanize Interactions<br />Trust Equation: People Relate Differently to Humans Than They Do To Brands<br />(So Let Your People Go)<br />
  74. 74. Survey of 105 Marketers, April, 2010<br />
  75. 75. Blogging for Business<br />73 blogs<br />17 bloggers<br />600% jump in leads<br />Top quality<br />“Get engineers talking to engineers and get everyone else out of the middle.”<br />Rick Short, Marcom Director<br />
  76. 76. Link Love<br />
  77. 77. Customize Message to Members<br />Hey, Bobby:<br />Dear Robert:<br />Duuuuude!<br />@bob:<br />
  78. 78. Generate Leads<br />Use Every Available Channel to Promote<br />
  79. 79. Use It or Lose It<br />Are You Satisfied With Twitter’s ROI?<br />Respondents Who Use Twitter<br />At Least Daily<br />All Respondents<br />BtoB Magazine Survey of 387 Marketers, April, 2010<br />
  80. 80. On the Back End…<br /><ul><li>Use unique URLs in each venue
  81. 81. Customize landing pages to audience
  82. 82. Gather social contact information from subscribers
  83. 83. Tag social content for e-mail customization</li></li></ul><li>Integration Is a Top Priority<br />37% of marketers already use e-mail to promote social networks and another 31% are planning to (Econsultancy and Adestra).<br />55% of retailers who use Twitter link to their Twitter account in their e-mail campaigns (Email Data Source and Goodmail).<br />Business executives say integrating the two channels is the fourth-most-important e-mail marketing initiative for 2010, (StrongMail) <br />Source: EMarketer<br />
  84. 84. Social Media Press Room<br />Elements May Include:<br /><ul><li>Releases
  85. 85. Video
  86. 86. Photos
  87. 87. Audio
  88. 88. RSS
  89. 89. Comments
  90. 90. Embeds
  91. 91. Downloads</li></li></ul><li>March 30<br />Prospect reaches website through search query "small business accounting," views four pages and subscribes to newsletter.<br />April 4<br />Prospect responds to e-mail invitation for "Choosing Small Business Accounting Software" webcast 30 minutes after e-mail is sent.<br />April 9<br />Prospect attends webcast, stays 45 minutes and submits a question related to legal practices.<br />April 10<br />Prospect clicks link in webcast summary e-mail to visit product description page. He downloads PDF of product brochure about software for legal practices.<br />April 12<br />Prospect downloads trial version of your small business accounting software for legal practices.<br />Oh, the Things That You Know!<br />
  92. 92. What is Social CRM?<br />“Traditional CRM grew out of this need to store, track, and report on critical information about customers and prospects.<br />Social CRM is growing out of a completely different need -- the need to attract the attention of those using the Internet to find answers to business challenges they are trying to overcome.“<br />--Brent Leary in Inc. magazine<br />
  93. 93. About Me<br />About Others<br />Connections<br />Social Network Essentials<br />Survey of 105 Marketers, April, 2010<br />
  94. 94. The Power of 130<br />The average Facebook member has 130 friends, who each receive notifications of their network’s Facebook activities<br />
  95. 95. Facebook Fan Pages<br /><ul><li>Great way to connect enthusiasts to each other
  96. 96. Can be about any topic
  97. 97. 99% are dead; they require care and feeding
  98. 98. Can be restricted or open
  99. 99. Can be visible or invisible to search engines
  100. 100. Admins have permission to message members</li></ul>Survey of 105 Marketers, April, 2010<br />
  101. 101. Facebook Fans<br />Repurpose media<br />Announcements<br />Feedback/testing<br />Mailing List<br />
  102. 102. LinkedIn for Business<br />Active Groups…<br />…and a Distinctive Approach to Company Profiles<br />
  103. 103. Many Uses for Twitter<br />
  104. 104. <ul><li>Branding
  105. 105. Hiring
  106. 106. Traffic building
  107. 107. Professional networking
  108. 108. Publicity
  109. 109. News
  110. 110. Prospecting
  111. 111. Feedback
  112. 112. Peer relations
  113. 113. Competitive tracking
  114. 114. Search engine optimization
  115. 115. Mobile visibility</li></ul>$<br />Source: Sirona Consulting<br />Uses For Twitter in Business<br />
  116. 116. Don’t Just Say “Follow Us On Twitter”<br />Promote benefits of membership<br />Describe content<br />Offer multiple topical destinations<br />Embed widgets to keep people on site<br />
  117. 117. Enable Conversation: Spiceworks<br />1M members<br />National user conference; multiple regional conferences<br />Points system rewards participation without payments<br />“What’s always amazed me is how much people are willing to give back.”<br />Tabrez Syed, Director of Products, Spiceworks<br />
  118. 118. Be Useful: Element 14<br />Document and information exchange for electronics engineers<br />Anyone can become a designated “expert” by delivering value<br />More than 10,000 documents contributed and indexed in first six months<br />
  119. 119. Spread the Message<br />Corporate website<br />Feed Aggregator<br />Partner website<br />Email Newsletter<br />
  120. 120. Make Content Easy to Share<br />Promote Subscriptions Everywhere<br />
  121. 121. Put Everything on Your Site<br />Always Use Your Own Domain!<br />
  122. 122. ROI<br />
  123. 123. Simple Equation<br />(GAIN FROM INVESTMENT - COST OF INVESTMENT)<br />ROI = <br />COST OF INVESTMENT<br />
  124. 124. These are NOT ROI<br />Press coverage<br />Impressions<br />Website Visitors<br />Video views<br />Click-throughs<br />Retweets<br />Coupons distributed<br />Store visits<br />“Buzz”<br />Friends<br />Blog comments<br />Employmentapplications<br />FaceBook friends<br />Twitter followers<br />But if you can quantify their financial impact, you have ROI!<br />
  125. 125. Types Of Financial Impact<br />B. Costs Avoided<br />A. Revenue<br />Anything that leads to A or B,<br />But only if you can directly equate its value<br />
  126. 126. What You Need<br />Historical Metrics<br />Excellent CRM Tools and Practices<br />Clearly Understood and Applied Web Analytics<br />
  127. 127. CRM Essentials<br />Must be used by everyone who touches the customer<br />Must document online, offline and landline communications<br />Must span the engagement lifecycle<br />Must enable segmentation and grouping<br />
  128. 128. Web Analytics<br />Must track individual visitors<br />Must document paths to desired destinations<br />Must identify referring sources<br />You must use them<br />
  129. 129. Basic Business Metrics<br />Lifetime Value of a Customer = (Longevity * Revenue) * Margin<br />𝐂𝐨𝐧𝐯𝐞𝐫𝐬𝐢𝐨𝐧 𝐑𝐚𝐭𝐞=𝐍𝐞𝐰 𝐂𝐮𝐬𝐭𝐨𝐦𝐞𝐫𝐬𝐕𝐢𝐬𝐢𝐭𝐬/𝐋𝐞𝐚𝐝𝐬<br /> <br />Value of a Lead/Visitor = <br />Visitor * Conversion Rate * Lifetime Value<br />
  130. 130. Measuring the Immeasurable<br />Headline Counts<br />Lift Studies<br />Store visits<br />Speaking Invitations<br />Net Promoter Score<br />Coupons redeemed<br />Employment applications<br />If You Can Measure It, <br />You Can Calculate Its ROI<br />
  131. 131. Okay, Let’s Make it Real<br />Typical customer Moe spends $10,000/year with you<br />Moe is with you for five years<br />Your profit margin is 10%<br />Lifetime value of Moe is<br />($10,000 * 5) * .1 = $5,000<br />
  132. 132. Applying ROI: Value of a Visitor<br />
  133. 133. Value of a Blog<br />
  134. 134. Value of a Tweet<br />You send 50 tweets a month<br />This generates 1,000 visitors to your website<br />2% of your website visitors become leads<br />5% of your leads become customers<br />Therefore, the value of a tweet is: <br />(1,000 * .02 * .05 * 5000)/50 = $100<br />
  135. 135. Cumulative ROI<br /><ul><li>You want to launch a customer support forum to reduce your costs of telephone support
  136. 136. Estimated admin costs: ½ FTE yr 1, ¼ FTE yr 2 1/10 FTE yr 3
  137. 137. Estimated savings: 1 FTE yr 1, 1.5 FTE yr 2, 2 FTE yr 3</li></li></ul><li>Thank you!<br />Site: gillin.com<br />Blog: paulgillin.com<br />Twitter: pgillin<br />Paul Gillin<br />508-656-0734<br />paul@gillin.com<br />
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