Social Media in a B2B Context
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Social media is different for Business to Business (B2B) organizations. This presentation looks at the differences between B2C vs. B2B marketing. We look at some B2B social media marketing stats, challenges, and some examples from some leading B2B organizations.
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Social Media in a B2B Context
- 1. Andrew Ryan, Marketing Director, LexisNexis Canada
- 4. • Linked • Linked-in Company (WK) (LexisNexis) • Twitter Company (WK) (LexisNexis) • Facebook Company (LexisNexis Canada)
- 6. • B2B (ex.) • Larger transactions • Many decision makers • Many influencers • Indirect Demand • Less emotional • Stodgier marketing • B2C (ex.) • Smaller transactions • Fewer decision makers • Fewer influencers • Direct demand • More emotional • Edgier marketing
- 7. The Results Other Videos (Casino, Cab)
- 8. Media B2B B2C Mass broadcast (TV, Radio, Web, Print) - ++ Direct Mail ++ + Email ++ ++ Point of Sale -- + Trade shows/ ++ + Conferences Social Media + ++ Hospitality ++ -- PPC/ SEM + ++
- 9. • Fewer customers # People # Business 0-99 100-499 500+ Canada 35,000,000 1,107,540 1,087,803 18,169 1568 % 100% 98.22% 1.64% 0.14% • Usually larger transaction amount • Often a more complex sales cycle • Often many influencers/ decision makers with diverse needs • Usually slower adopters of new technology
- 10. Media B2B Est Usage YouTube + 73% Facebook + 81% Instagram - Pinterest - Linkedin ++ 91% Blogging ++ 87% Twitter ++ 85% Google + +
- 11. • Limited buy-in • Support for content creation • Selling the concept • Proving ROI to your bosses • Metrics that matter for social might not for your boss • Smaller markets • Niche areas • Limited social used at work • Some companies ban social sites • Social synonymous with time-wasting
- 12. • 74% of B2B marketing companies use Twitter to distribute content (Content Marketing Institute) • B2B marketers who use Twitter generate twice as many leads as those that do not (Inside View) • 55% of B2B survey respondents search for information on social media (MediaBistro) • Marketers spend an average of 4-6 hours a week on social media (Social Media Examiner) • Fewer than 30% of large orgs will block social media in 2014, vs 50% in 2010 (Gartner) • Social Media can improve relations with employees. 82% of employees say they trust a company more when the CEO and leadership team communicate via social media (eMarketer) • B2B buyers today are 70%-90% of the way through their “buying journey” before they reach out to a vendor.
- 14. • 61% of B2B marketers send all leads directly to Sales; however, only 27% of those leads will be qualified. (Source: MarketingSherpa) • 56% of B2B organizations verify valid business leads before they are passed to Sales. (Source: MarketingSherpa) • 57% of B2B organizations identify 'converting qualified leads into paying customers' as a top funnel priority. (Source: MarketingSherpa) • 65% of B2B marketers have not established lead nurturing. (Source: MarketingSherpa) • 79% of B2B marketers have not established lead scoring. (Source: MarketingSherpa) • Just 35% of B2B marketing executives say they can calculate the ROI of their marketing spend most or all of the time. 42% say they can calculate ROI only some of the time, rarely or not at all. (B2B Marketing)
- 16. General Examples • GE On Pinterest Instagram • Cisco (Facebook and YouTube) – example • What other B2B companies do you like • Canadian companies (or used to be) that do a good job: Radian 6; OpenText, Eloqua Specific Cases • ADP (ROI Generator) – Over $1M in sales. • Xerox (get optimistic campaign) (Linked, Twitter, Slide Share)
- 17. • Maersk Lines • “How can you use social media as a mass media-like marketing channel that drives business leads in the B2B space?” • Challenge #1 – Social has never worked to generate leads for shipping customers in any large volume • Challenge #2 – Shipping in the freezing Baltic leads to late deliveries to St. Petersburg Russia • Challenge #3 Social followers are mostly not customers • Industry = Commoditized, Saturated • Customers = Cost conscious
- 18. • #Wintermaersk • Pinterest Instagram Twitter FB • http://www.maersk.com/en/social • https://tagboard.com/wintermaersk/search • From Maersk’s Social Lead • Results = 150 unique leads in a commoditized, saturated market where new customers can be worth millions
- 19. • In-house Counsel • Step #1 Understand your customer: Interviews and Surveys • Why they buy • Pains • What they respond to • How they spend their day • What do they read • What do they need to do their job • What is their workflow • Step #2 Build this into a “buyer” or “influencer” persona • Step #3 Understand what kind of content/ material would be of relevance to persona • Step #4 Develop content hub and social/ content calendar
- 20. • www.corporate-counsel.ca • Created entirely through Eloqua (not recommended) • Promote new content through Twitter, Linked-in • Email new content to alll subscribers • Generate new subscribers at events • Partnership with Association(s) • Email new content • Offer CPD credits to professionals where possible • SEM/ SEO investment • Results • 250+ subscribers within 1-month of launch • Time on site = 10 minutes+ • Direct conversions to sale – 5 YTD
- 21. • Describe scenario • Massive readership • Large professional audience • Next to zero conversions • What would they recommend? • Monday landing page • Tuesday landing page • Wednesday landing page • Friday landing page • HELP!
- 22. • Aryan@abbott.com • Ca.linkedin.com/in/andrewryan1 • www.facebook.com/andrewryans • @androoryan79 on instagram • @androoyran on Twitter
Editor's Notes
- How many of you work in B2B or service B2B companies?
- Family Starsky Brother in law Lover periodicals and cooking Key Learnings The grass isn’t always greener Maintain connections with former colleagues Use Linked in if you are looking for work (or not – it is a great marketing tool anytime) Boring industry doesn’t need to mean a boring job
- Professional social presence in B2B.
- More questions – show of hands Who current works in B2B or supports B2B companies? How are buying motivations different between B2B and B2C? Who has parents that are on social media? Grandparents?
- Example of government rfps/ master standing offers
- According to Visible Measures, that number was actually closer to 48.5 million, as of Nov. 21, Now it is the most viewed auto campaign of all time with 76M views – more than VW’s The Force Ad at 60M. It took that ad 22 days to reach 40 million views and more than two months to reach 48.5 million. The JCVD stunt has achieved that in just nine days spawning 50 related videos, according to tracking firm Visible Measure Volvo Trucks saw sales spike 31% “goal was to get the general public talking about a brand that sells to a relatively narrow pocket of consumers. Heavy-truck volumes represent only a fraction of what is sold in the automobile industry, but Volvo Trucks (not affiliated with the car company sharing the name), said truck buyers want to purchase vehicles seen as innovative”
- 84% of B2B marketers use social media in some form. (Source: Aberdeen) Shift back to DM/ telemarketing after CASL Email increasingly difficult/ risky with CASL EM will scale back enormously in 2017 B2B loves trade shows and conferences – 70% claim it is effective – a good event is like fishing in a barrel; a bad event is a waste and morale dump
- Market of 250 doctors and a couple dozen medical administrators Healthcare compliance software – market size of 80 Community Health Centres Makes every conversation critical – every story critical
- 40% of B2B buyers say Linkedin is important when researching technologies 19% say that Twitter is important when reseraching technologies 62% of B2B marketers think Linkedin is effective; 30% say this for FB; 62% claim that blogging is effective 91% use content marketing generally – only 36% say they are doing it effectively Companies that use Twitter generate 2x more leads 43% claim to have gained a customer using FB
- More Stats: 71% of B2B Marketers use content marketing for lead generation 50% of B2B Marketers use content marketing for thought leadership and education Only 25% of B2B Marketers use content marketing for customer retention 89% of B2B Marketers cite customer testimonials as the most effective content marketing 88% of B2B Marketers cite case studies as the most effective content marketing Less than 40% of B2B Marketers indicate ebooks as effective content marketing 71% of B2B Marketers say audience relevance is the most important element of content marketing 85% of B2B Marketers say LinkedIn is the most effective social network in delivering content 73% of B2B Marketers say YouTube is an effective social network in delivering content Only 39% of B2B Marketers say Facebook is an effective social network in delivering content 93% of B2B Marketers create content from scratch Web traffic and views or downloads tied at 63% as key metrics to determine content success
- Some possibilities Revenue – Should B2B Marketers be held responsible for achieving revenue targets? Profits/ EBITA – Should B2B Marketers be held responsible for profit targets? Followers/ Likes/ Form completions Open rates/ click throughs Acquisition cost
- 83% of B2B marketers invest in social media to increase brand exposure; 69% to increase web traffic; and 65% to gain market insights.
- What makes a good B2B social marketer?
- 84,000 subscribers and over 20 different channels, showing almost 3,000 videos. It uploads several videos each day, including Q&As, product demos, and presentations from events. What do you notice about Cicso’s YouTube Page? OTHER SOCIAL INCL. ADP generated over $1M in Sales from this campaign in 3 mos Xerox’s “Get Optimistic” campaign to connect with 30 top accounts and partnered with Forbes to create a magazine that offered relevant business tips. 70% of targeted companies interacted with the microsite, readership increased 300-400% over previous email campaigns, added 20,000 new contacts, generated 1,000+ scheduled appointments, and get this: yielded $1.3 BILLION in pipeline revenue. Yes, BILLION Canadian company OpenText - OpenText –personalized new customer onboarding site offering a variety of assets (white papers, checklists, product pages, ebooks, case studies) and content to welcome new clients and provide upsell, cross-sell opportunities. The campaign also included a two phase nurturing program. 1,700 new contacts were identified along with 31 new opportunities worth $1.8 million. Fisher Tank – Expensive – High Touch – MASSIVE STEEL TANKS (waste water, fuel, pulp/ paper)
- Is anyone familiar with Maersk? Danish Shipping company - $50B company, 90k employees – Buttoned down, stodgy, Captain Phillips
- “Let’s tell the story that’s out there in a very visual way, engaging as many people as possible via our social media accounts (and even using the hashtag #wintermaersk to highlight it). If people want to read more about they should of course have that option so we will always include a link to the article. And then, if it just so happens that a potential customer (or an existing one for that matter) is reading and want to learn more about the service behind the story then they can of course download a brochure by clicking one step further.” “corporates who want to engage via social media need to understand that they should stop trying to manufacture, and stop planning their posts weeks and months ahead. Instead, they must focus on being present, credible, user-centric and vibrant.”
- Do through Wordpress or create in html next time Content Hub Wireframe suport from Search Engine People and SEM/ SEO
- What would you try to do? How could we increase conversions? How could we generate true leads ready to handoff to Sales?