using social media strategy and roi metrics to increase b2b sales skip reardon director of digital...
Post on 20-Dec-2015
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Using Social Media Strategy and ROI Metrics
To Increase B2B Sales
Skip ReardonDirector 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
2010 2011 20120.00%
2.00%
4.00%
6.00%
8.00%
10.00%
12.00%
14.00%
B2B Product MarketersB2B Service Marketers
Source: John Bell, Olgivy, 2011
NOTE: Social media is NOT just for marketing!!
The Marketing Mix Has Changed …Or Has It?
• Consumer model• Cost (of ownership)• Communications• Convenience
TODAY• Community
1960’s• Product• Price• Promotion• Place
TODAY• People
1990’s
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/ServicesSocial Media Tools
To ConsiderThat rely on local customers Facebook, Twitter, Google
PlacesThat rely on your expertise/IP, networks, new relationships
LinkedIn, Facebook
That can be shown or demonstrated for best effect
YouTube, Facebook, Twitter
That target a more mature demographic
Facebook, LinkedIn
That target a younger demographic
Twitter, Facebook
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…..
Skip [email protected]
Twitter: SreardonLinkedIn: Skip Reardon
Facebook: SkipReardon
Questions & Answers