Millennials & Influencer Marketing: How To Organize & Optimize For B2B
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Not only are Millennial-aged professionals more trusting of social influencers when making purchase decisions, they’re also more likely to participate as influential content creators. B2B brands that can master working with internal and external Millennial talent to co-create content and engage on social channels will reap rewards now and into the future. This presentation by Lee Odden of TopRank Marketing and Alexandra Rynne of LinkedIn Marketing Solutions will help B2B marketers understand the influencer marketing opportunity with Millennials in multiple ways, including: -Understanding influencer engagement models from seasoned “brandividuals” to rising star Millennials; -Busting myths about working with Millennials and how B2B brands can create win/win relationships; and -Learning from examples of B2B influencer content in action.
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Millennials & Influencer Marketing: How To Organize & Optimize For B2B
- 1. @leeodden @amrynnie#B2BMX Millennials & Influencer Marketing How to Organize & Optimize for B2B Lee Odden & Alex Rynne
- 2. @leeodden @amrynnie#B2BMX Lee Odden lee@toprankmarketing.com TopRankMarketing.com TopRankBlog.com Alex Rynne arynne@linkedin.com lnkd.in/LinkedInMarketingSolutions lnkd.in/LMSShowcasePage About Your Presenters
- 3. @leeodden @amrynnie#B2BMX B2B Influencer Marketing Has Evolved Optimized, Socialized, Publicized, Advertised, Integrated, Interactive, Ongoing
- 4. @leeodden @amrynnie#B2BMX “Working with influencers to co-create content delivers mutual value. When that content is interactive, it creates an experience that is more engaging and inspires action.” Amisha Gandhi @AmishaGandhi Head of Influencer Marketing, SAP Credible Experiences Inspire
- 5. @leeodden @amrynnie#B2BMX Influencer Marketing Maturity Experiment *Early testing *Warm influencers *Evaluate tech *Developing skills *One off projects *Marketing focus Process * Tactical * Recruit influencers * Tool investment * Campaign based * Transactional * Reach metrics * Maturing skills * Output metrics Relationships * Strategic * Influencer personas * Developed programs * Relationship based * Influencer community * Platform investment * Paid and organic * Multi-departmental * Engagement metrics Authority * CXO sponsorship * Always on engagement * Active brand advocacy * Platform maturity * Advanced skills * Cross functional * Internal influencers * Dominant SOV * ROI metrics Integration * Marketing integration * Platform integration * Process integration * Influencer ecosystem * Employees engage * Advanced skills * End to end metrics Source: TopRank Marketing
- 6. @leeodden @amrynnie#B2BMX Interest in Influencer Marketing is High
- 7. @leeodden @amrynnie#B2BMX So is Confusion About Millennials
- 8. @leeodden @amrynnie#B2BMX Some Clarity About Influencer Marketing $9.60 EMV for every $1 spent Burst Media 10X increase in conversion ratesContent Marketing Institute 37% higher retention rate McKinsey
- 9. @leeodden @amrynnie#B2BMX The Influencer Marketing Opportunity for B2B Attract Engage Convert Retain Advocate Reach new audiences Inspire advocacy Retarget influencer followers Creators bring talent Authenticity & voice of customer Influencer & audience channel match Influencers are trusted Relevance increases action Credibility converts Community participation Showcase employee influencers Create info- taining utility Showcase customers & success Testimonials Create incentives for referrals
- 10. @leeodden @amrynnie#B2BMX Even Simple Influencer Content Drives ROI Objective: Create Thought Leadership & Leads “Field Service Engagement” 237 ebook downloads in 30 days $570,000 qualified sales leads $1.5 million projected pipeline revenue
- 11. @leeodden @amrynnie#B2BMX What Influence Solves for in B2B: Reach Beat average views goal by 1,000 in 2 weeks 80% Influencer Content
- 12. @leeodden @amrynnie#B2BMX What Influence Solves for in B2B: Engagement Influencer Marketing Pilot: Drive Awareness & Engagement Across 5 Channels 170% increase in views 437% increase content shares
- 13. @leeodden @amrynnie#B2BMX What Influence Solves for in B2B: Conversion Exceeded goal conversion rate by 260%
- 14. @leeodden @amrynnie#B2BMX Influencer Engagement Models for Content
- 15. @leeodden @amrynnie#B2BMX What is influence? The ability to affect action.
- 17. @leeodden @amrynnie#B2BMX #B2BMX Speakers Are Influential
- 20. @leeodden @amrynnie#B2BMX B2B Needs All Kinds of Influencers
- 21. @leeodden @amrynnie#B2BMX What About Millennials?
- 22. @leeodden @amrynnie#B2BMX ▪ 114 million millennials on LinkedIn ▪ 13 million + decision makers ▪ 800,000 marketing decision makers The Influence Opportunity with Millennials
- 23. @leeodden @amrynnie#B2BMX Your Future (And Current) Customers Are… Half of all B2B researchers are Millennials. (Google/Millward Brown) 73% of millennials are involved in the purchasing decisions of their companies. (Forrester) 34% said they are the sole decision-maker for their department (Sacunas) Millennials look to their peers, experts in the field, or other sources for insight (SnapApp & Heinz Marketing survey)
- 24. @leeodden @amrynnie#B2BMX Meet Jane, Affluent Millennial ● 4 year college degree ● Spends more than 7 hours a day online ● Consults an average of 10 sources before making a purchase decision ● Enjoys connecting with companies on social media ● Weighs opinions of friends and family before buying B2B products/services Sources: Pew Research & SDL
- 25. @leeodden @amrynnie#B2BMX What Influences B2B Millennials? ▪ Social Presence ▪ Relationship ▪ Family Influence ▪ Purpose ▪ Brand loyalty ▪ Independent Research ▪ Peers ▪ Personalized experiences
- 26. @leeodden @amrynnie#B2BMX How Millennials Create Content: Publishing Publishing on LinkedIn 1 million+ publishers create 130,000+ posts a week on LinkedIn.
- 27. @leeodden @amrynnie#B2BMX How Millennials Create Content: LinkedIn
- 28. @leeodden @amrynnie#B2BMX How Millennials Consume Content: Video 76% of Millennials follow brands on YouTube. (Animoto) 60% of Millennials would rather watch a company video than read a newsletter. (Animoto) 80% of Millennials find video helpful during initial purchase research. (Animoto)
- 29. How Millennials Create Content: Video
- 30. @leeodden @amrynnie#B2BMX 5 Myths About Millennials BUSTED!
- 31. @leeodden @amrynnie#B2BMX Myth: Millennials Are Lazy 59% of millennials said competition is “what gets them up in the morning”, compared with 50% of baby-boomers. 58% of millennials said they compare their performance with their peers’, as against 48% for other generations” Source: The Economist
- 32. @leeodden @amrynnie#B2BMX Myth: Millennials Are the ‘Me’ Generation
- 33. @leeodden @amrynnie#B2BMX Myth: Millennials Lack Employer Loyalty “Millennials aren’t job-hopping any faster than Generation X did.” *Source: Pew Research Why millennials switch jobs: 67%for advancement opportunities 60% for better pay 51% for challenging work *Source: LinkedIn
- 34. @leeodden @amrynnie#B2BMX Myth: Millennials Are Entitled in the Workplace It's not entitlement, it's growing up in a challenging economic climate. Millennials believe people should be financially independent on average a year and a half earlier than baby boomers. 22 for your own housing 20.5for your own car 18.5for your phone contract *Source: Bankrate research
- 35. @leeodden @amrynnie#B2BMX Myth: Millennials Over-Share Online shares could be as influential as in-person recommendations, with a degree of trust and influence unmatched by any paid media. Average lift: 10.6% in-person recommendations 9.5% online share 7.3% consumer reviews 6.3% consumer ratings *Source: Nielsen
- 36. @leeodden @amrynnie#B2BMX B2B Brands Doing Millennial Marketing Right
- 37. @leeodden @amrynnie#B2BMX General Electric – Humor to Humanize ▪ 328K Instagram Followers ▪ “The Message” Podcast Takeaways ▪ Have a little fun ▪ Give a face to your company ▪ Be where your audience is https://youtu.be/zIZHBzvgfGk
- 38. @leeodden @amrynnie#B2BMX TOMS – Why Before You Buy ▪ Storyliving ▪ Philanthropy and profit can co-exist ▪ Customers share stories, experiences, and photos as a way to raise awareness. Takeaways ▪ Allow Millennials to live the story ▪ Millennials want to align themselves with a brand that has a cause
- 39. @leeodden @amrynnie#B2BMX MailChimp – Punny Infotainment ▪ Non-traditional ▪ Multi-channel ▪ Side note: Excellent Instagram presence Takeaways ▪ Focus on building relationships, rather than merely selling ▪ Inject humor into your content
- 40. @leeodden @amrynnie#B2BMX Image source: Traackr Organize Influencers: Thought Leaders Customers Prospects Advocates Employees Journalists Departments: Marketing Public Relations Customer Success Community Mgt Human Resources
- 41. @leeodden @amrynnie#B2BMX What Matters Most to Millennials for B2B Source: SnapApp & Heinz Marketing Survey Community Involvement Company Values Website/Marketing Content
- 42. @leeodden @amrynnie#B2BMX Types of B2B Content Millennials Prefer Video Case Study: toprankmarketing.com/services/influencer-marketing/
- 43. @leeodden @amrynnie#B2BMX Operationalize & Optimize Influencer Content
- 44. @leeodden @amrynnie#B2BMX ▪ 57% of marketers believe Influencer Marketing will be integrated across marketing and communications by 2020. *Influence 2.0 ▪ Millennials are both content creators & influenced by peer content ▪ Millennials are ambitious, active and are loyal beyond the brand ▪ Inspire Millennial influencers with social causes and brand purpose ▪ Be where your audience is and have a sense of humor! ▪ Operationalize influencer marketing across all communications and optimize based on performance Takeaways
- 45. @leeodden @amrynnie#B2BMX TopRank Marketing: B2B Influencer Marketing Specialists
- 46. @leeodden @amrynnie#B2BMX Thank You! Lee Odden lee@toprankmarketing.com TopRankMarketing.com TopRankBlog.com Alex Rynne arynne@linkedin.com lnkd.in/LinkedInMarketingSolutions lnkd.in/LMSShowcasePage
- 47. @leeodden @amrynnie#B2BMX And if You Want to Avoid #MillennialFAIL ● Don’t paint with too broad of a brush ● Be authentic, not ‘authentic’ ● Speak our language ● Be gut-led but data informed ● Our attention shouldn’t be your goal
- 48. @leeodden @amrynnie#B2BMX IBM & World Rhino Day