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Using Social Media Strategy and ROI Metrics To Increase B2B Sales

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.

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Using Social Media Strategy and ROI Metrics To Increase B2B Sales

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  1. Using Social Media Strategy andROI Metrics To Increase B2B Sales Skip Reardon Director of Digital Marketing

  2. Here’s What I’ve Heard So Far Today

  3. 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

  4. Social Media Investment Trends NOTE: Social media is NOT just for marketing!! Source: John Bell, Olgivy, 2011

  5. The Marketing Mix Has Changed …Or Has It? 1990’s 1960’s Product Price Promotion Place TODAY People • Consumer model • Cost (of ownership) • Communications • Convenience TODAY • Community

  6. 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. 

  7. A Few Recommendations…

  8. The Traditional Sales Funnel

  9. The Social Media Funnel

  10. 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

  11. 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

  12. 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

  13. 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

  14. What Actions Do You Take? Lagging Indicators Leading Indicators Short-term measures of success that offers some predictive insight into future outcomes. Sales leads, direct orders, inquiries • 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

  15. 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

  16. Finally, A Quick Recap… Strategy 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….. • Create relevant content to solve business problems • Make your experts available • Choose social media tools wisely • It’s ALL social selling

  17. Questions & Answers Skip Reardon sreardon@SixDisciplines.com Twitter: Sreardon LinkedIn: Skip Reardon Facebook: SkipReardon

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