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The Value of Social Media in B2B

Social media is a vital element of any B2B marketing strategy—especially given the need to build relationships over the course of long, complex sales cycles. See how B2B companies are demonstrating the value of social media and get answers to some of the key questions B2B marketers may have as they build programs to capitalize on that value.

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The Value of Social Media in B2B

  1. 1. The Value ofSocial Media in B2B
  2. 2. A Compelling Case for B2B Social Media • B2B companies that blog generate 67% more leads/month than those who don’t.1 • 41% of B2B companies are acquiring customers through Facebook.2 • Social media helps B2B marketers improve search results.3 1 Hubspot, State of Inbound Marketing Lead Generation Report, 2010 2 Hubspot, State of Inbound Marketing Report, 2011 3 BtoB Magazine, July 2010 2
  3. 3. Cisco Shaves $100,000+ Off Product Launch 3
  4. 4. SAP Engages Community, Supports Sales 4
  5. 5. Avaya Makes $250,000 Sale Via Twitter 5
  6. 6. Your Mileage May Vary…
  7. 7. Is Social Media Really Different in B2B?
  8. 8. Yes...and No. “B2B relationships are fundamentally not about companies but about people.” — Karen Quintos, Sr. VP and CMO, Dell Inc. 8
  9. 9. Business People Are Still People. 86% of business technology buyers use social media during work. Source: Forrester 2011 B2B Social Technographics Report 9
  10. 10. And They Don’t Just Sit on the Sidelines. 32% of business technology decision makers are content creators. Source: Forrester 2011 B2B Social Technographics Report 10
  11. 11. Key Differences in B2B • Longer, more complex buying cycle  The average sales cycle has increased 22% over the past 5 years due to more decision makers involved in the buying process.1 • Multiple stakeholders  The higher the price tag, the more people are involved in the purchase decision. • Relationships are critical  Professional reputations are at stake; buyers need to trust you. 1 SiriusDecisions 11
  12. 12. Where Should You Be? • Identify the best networks for your business 12
  13. 13. Which Social Networks Do IT Buyers Use? 80% 70% 60% 50% 40% Professional Personal 30% 20% 10% 0% LinkedIn Facebook Twitter YouTube Source: 2010 and Fall 2011 Social Media At Work Studies, UBM TechWeb 13
  14. 14. How IT buyers Use Social Networking Sites59% To learn about new products, services 47% To seek advice from peers about technology purchases42% To learn about new companies/brands Source: 2010 and Fall 2011 Social Media At Work Studies, UBM TechWeb 14
  15. 15. But buyers and marketersaren’t always on the same page… 15
  16. 16. Top Social Networks for B2B Buyers 5% 9% 16% Forums 49% Communities Blogs LinkedIn Facebook 28% Twitter 30%Source: Forrester 2011 B2B Social Technographics Report 16
  17. 17. Top Networks for B2B Marketers 7% 13% 26% LinkedIn Facebook Blogs 14% Communities Twitter YouTube 20% 19%Source: Emerging Trends in B-to-B Social Media Marketing, Insights from the Field, BtoB Magazine 17
  18. 18. Who Are Your Influencers? • Find your tribe…and go where they go. 18
  19. 19. Identify and Engage Influencers• LinkedIn Profiles & Groups• Twitter Search, Kurrently• Listorious, Formulists• Twitter Grader, Klout, Peer Index, TweetReach• TweetStats• Monitoring Tools 19
  20. 20. B2B Social Media List 20
  21. 21. Spiral16 Network Mapping Tool 21
  22. 22. How Do You Capture and Nurture Leads? • Converting followers to leads to customers 22
  23. 23. Yesterday’s FunnelSource: Forrester Research, Inc. 23
  24. 24. Today’s Reality 5% 50%Source: Forrester Research, Inc. 24
  25. 25. 70% of the buyer’s journey iscomplete before they evercontact sales.Source: SiriusDecisions 25
  26. 26. More than 90% of people willbail rather than fill out yourregistration form. 26
  27. 27. Answer LinkedIn Members’ Questions 27
  28. 28. Monitor the Twitter Stream…and Engage
  29. 29. Consider Social Sign-In Options 29
  30. 30. Consider Social Sign-In Options 30
  31. 31. Add Social Elements to Email and Websites
  32. 32. Add Social Profiles to Registration Forms 32
  33. 33. What Are the Secret Ingredients? • Relevant content • Trusted relationships 33
  34. 34. “No matter what business you are in, buyersare constantly seeking information…. They arenot waiting for just the right campaign tocome along and solve all their problemswith an offer they can’t refuse.” —Michael Brenner, Sr. Director, Global Integrated Marketing at SAP 34
  35. 35. 35
  36. 36. Awareness: Sticky and Shareable 36
  37. 37. Awareness: Sticky and Shareable 37
  38. 38. Demand Gen: Relevant and Useful 38
  39. 39. Demand Gen: Relevant and Useful 39
  40. 40. Demand Gen: Relevant and Useful 40
  41. 41. Lead Nurture: Clear Pathways 41
  42. 42. Lead Nurture: Clear Pathways 42
  43. 43. What’s the ROI? • What does success look like? • Relevant metrics • Measuring the value 43
  44. 44. What’s the ROI of Social Media?“What’s the ROI of giving all yoursalespeople a BlackBerry?” — David Meerman Scott 44
  45. 45. What’s the ROI of Social Media?“What’s the ROI of your[bad word] mother?” — Gary Vaynerchuk 45
  46. 46. 46
  47. 47. But seriously…When your clients or boss askabout the ROI of social media,what are you going to say? 47
  48. 48. Start with Strategy: Goals & Objectives Awareness: Increase number of unique visitors by 50% Lead generation: Increase webinar registrations by 40% Sales: Increase channel sales by 30% Customer support: Reduce call center costs by 20% 48
  49. 49. Metrics: Converting Followers to Customers Contract renewals Page views $ Up-sell Referring URLs Cross-sell Inbound links Unique visitors Loyalty Awareness FollowersCustomer support Tweets, RTs and @repliesCommunity Likes, +1s, shares, embeds Social bookmarks $ Sales Lead Gen Downloads Share of voice Registrations Sentiment Subscriptions Influence 49
  50. 50. Thank You. 50

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