B2B Social Media Marketing - Really! (2013 edition)
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Conventional wisdom says that social media isn't appropriate for B2B marketing. Conventional wisdom is wrong. B2B companies were actually some of the first to adopt social media tools broadly and to discover the benefits of rich, ongoing customer conversations. B2B social media doesn't have the glamour and sex-appeal of big consumer campaigns like the Old Spice man, but Web 2.0 technologies are already firmly entrenched in firms ranging from commodities exchanges to high-tech vendors to sellers of construction supplies. Success with B2B social media marketing requires understanding what motivates your customers and personalizing the experience. Companies that simply use social media as another way to push a message are missing the point. This session covers: --What the innovators are doing and how the unique characteristics of B2B interactions demand a unique approach to social marketing --Which social tools have shown the greatest payoff for B2B companies (they're different from the ones that work for B2C firms) --How social media fits into a broader content marketing strategy This presentation was delivered at the Godfrey FWD:B2B conference in Lancaster, Pa. 11/7/13.
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B2B Social Media Marketing - Really! (2013 edition)
- 1. B2B Social Media Marketing – Really! Paul Gillin Social Media Trainer, Profitecture Author: The New Influencers Secrets of Social Media Marketing Social Marketing to the Business Customer Attack of the Customers
- 2. The Media in Collapse Average age of US daily newspaper reader: 57 Reduction in US newsroom staffs since 2001: 45% US Magazine Circulation 2001 Woman’s Day 2009 Change Age of average network evening news viewer: 63 410,000 -74% Redbook Growth in NBC prime time audience, 2008: -14.3% 1.61M 556,300 154,600 -72% Playboy 522,800 203,200 -71% Country Living 380,200 134,900 -64% 1.65M 591,300 -64% Reader’s Digest 750,000 270,000 -64% ESPN Magazine 54,350 25,200 -63% Natl Enquirer
- 3. New Media Facts 59,000 – Google searches per second 108 – Hours of video uploaded to YouTube every minute 500 - Hours of YouTube video watched on Facebook every day 2.5 billion – Daily Facebook shares 400 million – Tweets per day 40 - % of smart phone users who have comparison shopped in-store 3 million – New blogs each month 20 – % of Facebook users over age 55 18 – % of Facebook users under age 24 Source: University of Mass. Center for Marketing Research study of large businesses, 2012
- 5. The New Media Landscape
- 7. Why Does Search Matter? Number of searches Americans conduct each month: 15.4 billion Avg. number of words in a Google search: 3.2 Percentage of Google searches that have never been done before: 20 Percentage of B2B buyers who turn first to a search engine to locate information: 79 Chart source: AJ Kohn, BlindFiveYearOld.com
- 8. What One Guy Can Do Monthly traffic: 73,000 Inbound links: 850,771 Google Indexed pages: 6,490 Alexis ranking: Top .12% Del.icio.us bookmarks: 1,776 Newsletter subscribers: 150,000 Citations New York Times: 115 Computerworld: 146 InformationWeek: 89
- 10. The Sales Funnel… Suspects Qualified Prospects Hot Prospects New Clients Image Credit: Retail Sales Systems, LLC
- 11. …Has Been Flipped… Respond & Iterate Invite Engagement Listen Go Where the People Are Image Credit: Retail Sales Systems, LLC
- 12. …and Flattened Source: Monitor Group
- 13. Where You Gonna Stay? TripAdvisor had 108 million monthly unique visitors in the third quarter of 2013. It hosts more than 125 million reviews and operates in 30 countries. Yelp had an average of 117 million monthly unique visitors in the third quarter of 2013. It hosts over 47 million customer reviews
- 14. How B2B is Different • • • • • • Value-drive decision-making Group consensus “Bet the business” Long-term relationships Audience is knowledgeable, engaged, serious Intense need for information
- 15. The New Currency of B2B Commerce is… TRUST Stephen Russell, 3VR Bill Hill Microsoft Clickable’s Gurus
- 16. Social Value Cycle What you know What you are known for Who you know Who knows you
- 17. New World Prospecting INBOUND OUTBOUND SEO Bottom-up lead gen Blogs Enhanced lead qualification Twitter Content Premiums Word of Mouth Multiple points of engagement
- 18. Lower Cost Per Lead
- 19. Lead Gen Excellence Intermetallic Pop Solder Paste Alloys Solder Alloys Solder Metallization Paste Head In Pillow Dipping Flux Gallium Alloy @pgillin Indium Tin Oxide NanoFoil Heat Spring Antimony Solder Copper Indium Gallium Gold Indium
- 20. A Reader is a Lead Each blog has the option to ask a question of the engineer Results: • 600% jump in leads • Top quality “Get engineers talking to engineers and get everyone else out of the middle.” Rick Short, Marcom Director
- 21. Failure to Communicate B2B Market Messages and Customer Preferences Cares about dialogue with customers Acts responsibly across supply chain “Honest and open dialogue, which customers considered most important, was one of the three themes not emphasized at all by the 90 companies in our sample.” --McKinsey Customer preference B2B messages Has high level of specialist expertise Fits well with my values Is a leader in its field Provides a broad product portfolio Is a driver of innovation Promotes sustainability Promotes diversity and equal opportunity Has global reach Shapes direction of the market Corporate social responsibility Has low prices -10 0 10 20 30 40 50 60 70 80 90 100 Source: “How B2B companies talk past their customers,” McKinsey & Co., October, 2013
- 22. Personal Touch Impact of Personal Value on B2B Purchase Outcomes Don't See Personal Value 100.0% 90.0% 80.0% 70.0% 60.0% 50.0% 40.0% 30.0% 20.0% 10.0% 0.0% See Personal Value 22.6% 8.5% 71.0% 68.8% “B2B buying is extremely personal because purchases involve a variety of perceived personal risks – such as losing credibility, time or even a job. These emotions translate into a higher purchase likelihood among those who recognize a brand’s personal value.” Will purchase Will pay a higher price Source: “From Promotion to Emotion Connecting B2B Customers to Brands,” CEB Marketing/Leadership Council & Google, October, 2013
- 23. Map Content to Sales Stages White paper, eBook, Analyst report, Publication, Blog, Article, Tweet, Podcast Suspects Goal: Optimize sharing Qualified Prospects Case study Video testimonial Guided tour Product demo Webinar Press coverage Glossary ROI calculator Free trial/Consultation, Help desk, Chat, Forum, Training, Usage tips, Contact information Goal: Demonstrate expertise, experience Hot Prospects Goal: Address lingering doubts; reinforce expertise New Clients Goal: Validate decision Image Credit: Retail Sales Systems, LLC
- 24. “HOW CAN I SHARE?”
- 25. Givin’ It All Away: HubSpot, Marketo & Eloqua
- 26. Content Need Never Die All-time most-viewed presentations on SlideShare 3 years 1 year 2 years 1 year 9 months 4 months 1 year 2 years
- 27. Spread the Message Corporate website Feed Aggregator Partner website Email Newsletter
- 28. Twitter Excellence: CME Group
- 29. Community Excellence: Ridgid Forum
- 31. How Emerson Has Done It
- 33. And the Leads Come In “I have an e-mail on my wall from a company that asked us to bid on a nine-figure deal next to a sign that asks ‘Is there any Jim Cahill value inDir. Of Social Media Blogger, blogging?’” Experts Emerson Process
- 34. Thank you! Paul Gillin Site: gillin.com 508-656-0734 Blog: paulgillin.com paul@gillin.com Twitter: pgillin
Editor's Notes
- The mainstream media in the United States is in a state of precipitous decline. Newspaper revenues have fallen by more than half since 2005 in circulation is at levels not seen since the Kennedy administration. In the magazine market, the news is not much better. Circulation at Iconic titles like woman’s Day and Redbook are off more than 70%in the past decade. While some new titles have made up the gap, the overall magazine circulation picture is trending steadily downward.In B2B publishing, the situation is even worse correct. A decade ago, technology publishers produced more than 1000 pages per week of printed magazine content aimed at business buyers. Today, almost none of those publications even exists anymore. The largest loser in magazine ad pages in 2009 was the business-to-business segment.
- Why should you optimize for search?Numbers like these provide pretty compelling evidence. The volume of search activity is growing steadily and the quality of search engines is improving. About 80% of B2B buyers start the buying process with a search, and I think it’s safe to say that nearly every buying decision has search embedded somewhere in it.Two numbers are interesting in this chart. One is that the average number of words in a Google search is increasing. This indicates that people are getting more savvy about using search engines and are specifying longer queries. This means that your search strategy needs to be focused more than ever on the so-called long tail of highly specific keywords. We’ll get into that a little later.Another amazing statistic is that 20% of all Google searches have never been done before. This means that try as you might to anticipate the ways which people will find your company, they’ll always come up with something new. Your keyword strategy needs to be fluid.
- Characteristics of B2B interactions differ in some fundamental ways from B2C interactions. This has important implications for the selection of social media tools. Among the major differences are:B2B marketing is much more likely to focus on value than experience. Value can be expressed in many ways, including price/performance, the fit with the customer’s business objective, flexibility, and compatibility with existing systems. The “Wow!” factor that is so important to many consumer buying decisions rarely means much in business engagements. B2B buying decisions are usually made by groups, whereas consumer buying decisions are made by individuals. This means that B2B marketing programs must influence multiple people at multiple stages of the buying process, and each of those individuals has different priorities. The chief financial officer (CFO), for example, is focused on return, whereas the product manager may be thinking more about user experience or lead generation.Business buying cycles are longer than consumer buying cycles. This is primarily because more dollars are at stake and more people are involved in the decision. B2B companies prefer to choose suppliers for the long-term and avoid disruptive and expensive changes. This means that much more research usually goes into a B2B decision than a B2C decision.Business buying decisions are more likely to be a commitment than consumer buying decisions. The viability of the manufacturer, its quality of support, and its future product road maps have significant influence on these decisions. Once the sale is made, buyer and seller are bound together in an ongoing dialog. Relationships play a more important role in B2B than in B2Cdecisions. In some cases, business buyers bet their careers on the choices they make. They need to feel confident that their supplier will validate the soundness of their judgment. Service and support are essential decision factors. Down time is expensive. Business customers expect their problems to be solved when they need them solved. B2B sales have lots of moving parts. At the high end in particular, contracts are often custom bid and may include bundled services, special discounts, and detailed price schedules.
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- In the posts I take advantage of content I’ve posted in SlideShare, YouTube, and Flickr to make the post richer and increase the digital footprint. I also do an audio podcast of almost every post. Customers and sales folks gave me feedback that they have long commutes and wanted the audio version of each post, so I created an iTunes channel and MP3 subscription.
- PG