Using Social Media Strategy
and ROI Metrics
To Increase B2B Sales
Skip Reardon
Director of Digital Marketing
Here’s What I’ve Heard So Far Today
During the next 60 seconds…
• 2,000,000 searches on
• 500,000 “Likes” on
• 90,000 tweets on
• 7,600 searches on
• 600 videos uploaded to
Social Media Investment Trends
14.00%
12.00%
10.00%
8.00%
B2B Product Marketers
6.00%
B2B Service Marketers
4.00%
2.00%
0.00%
2010
2011
Source: John Bell, Olgivy, 2011
2012
NOTE: Social
media is NOT just
for marketing!!
The Marketing Mix Has Changed
…Or Has It?
1960’s
•
•
•
•
Product
Price
Promotion
Place
TODAY
• People
1990’s
•
•
•
•
Consumer model
Cost (of ownership)
Communications
Convenience
TODAY
• Community
Social Media Tools
• Understanding the primary tools
–
–
–
–
Facebook
LinkedIn
Twitter
YouTube
– Why? B2B decision makers are the most socially
engaged in the world - when compared to average
internet users.
A Few Recommendations…
If Your Business Offers
Products/Services
Social Media Tools
To Consider
That rely on local customers
Facebook, Twitter, Google
Places
LinkedIn, Facebook
That rely on your expertise/IP,
networks, new relationships
That can be shown or
demonstrated for best effect
That target a more mature
demographic
YouTube, Facebook, Twitter
That target a younger
demographic
Twitter, Facebook
Facebook, LinkedIn
The Traditional Sales Funnel
The Social Media Funnel
Social Media Strategy
• What is your social media strategy based on?
• What do B2B leaders do when we have
questions? We SEARCH
– “How can I help you solve your business
problem?”
• 2,000,000 Google searches per minute!
• ….and search is becoming increasingly social
Social Media Strategy
“How Can I Help You Solve Your Business Problem?”
• Yet only 29% of sales reps are really prepared to
understand customers’ business problems
• 40% of survey responders: biggest challenge – getting
sales to challenge and collaborate more with
customers
• How can we solve this?
–
–
–
–
Create relevant content to solve business problems
Make your experts available
Revise your approach to relationship building
Remember– it’s ALL social selling
Measuring Social Media’s Impact
• What are the
metrics/measures?
– Relevant Awareness/Engagement :
website visitors, page ranking, followers,
FB Likes, LI’s Shares, Google’s +1
– Advocacy/Conversion: comments, RTs,
reviews, WOM
– Loyalty: repeat products/services sold,
cross-sales of products/services,
testimonials, referrals
Measuring Social Media’s Impact
• How can we measure them?
– Websites/blogs: Google Analytics
– Facebook, LinkedIn, Twitter,
YouTube - all have built-in
analytics
• 3 M’s
– Monitor – watch and track
mentions
– Measurement – of engagement
data
– Metrics – KPIs for social media
measurement
What Actions Do You Take?
Lagging Indicators
• Quantitative campaign
measures over a period of
time
– Website visitors, “Likes”,
Shares, followers, comments,
subscribers, reviews, page
ranking
• But - ROI should not be the
sole measure of performance
Leading Indicators
• Short-term measures of
success that offers some
predictive insight into
future outcomes.
– Sales leads, direct orders,
inquiries
A Look Toward The Future
• “Skate to where the puck is going
to be…”
– Social will “no longer matter”
– It’s “just” communications
– Mobile – smartphones, tablets
– Social impact on e-commerce
Finally, A Quick Recap…
Strategy
• Create relevant content to
solve business problems
• Make your experts available
• Choose social media tools
wisely
• It’s ALL social selling
Execution
• Apply freshness and
frequency to content
• Monitor measures
frequently
• Make changes mid-stream
when something is not
working – it takes time
• Revisit strategy regularly
• Rinse, repeat…..
Questions & Answers
Skip Reardon
sreardon@SixDisciplines.com
Twitter: Sreardon
LinkedIn: Skip Reardon
Facebook: SkipReardon