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