Destroying the 7 Myths of B2B Social Media
Jay Baer
@jaybaer
Myth #1:
My Customers Don’t Use Social Media
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You Are Not Your Customer
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81% of U.S. Online Adults Use Social Media
*Forrester
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Prove It With Social Anthropology
Gist.com Rapportive.com
Myth #2:
Social Media Isn’t Worth the Trouble for B2B
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B2B Customers Use Social
86% of business technology buyers engage in some form of social activity for work purposes.
*Forrester
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Social Media is More Important for B2B
• Fewer overall customers • Considered purchases • Visibility in funnel • Importance of sales reps
Social provides touch points
between official CRM campaign
elements
9
Impact of Search on Lead Generation
Consumers exposed to a
brand in social are 2.8x more likely to search
*GroupM Search
Myth #3:
How B2C Uses Social Media Doesn’t Apply
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Social Media Reality Check
• Do you have customers? • Do you have prospective customers? • Do you have employees? • Do you have competitors? • Do you have a story to tell?
Congratulations! You have the raw
materials for social media.
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Key Process = Same for B2B and B2C
Harvest stories
about your company and
customers
Storytelling humanizes company
Humanization creates kinship
Kinship drives
purchase from new
and existing customers
Customers create more stories for harvesting
Social Media Success Process
Repeat
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Social Media Strategy = Same for B2B and B2C
• Awareness? • Sales? • Loyalty?
The only difference
between B2B and B2C is
certain tactics
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We’re All Using the Big 4
Social Media Site Usage by Organization Type
*MarketingProfs
Myth #4:
If Nobody Tweets About Us, We Don’t Need Social Media
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Give Them Something to Talk About
Content Marketing Necessity Scale
Amount of chatter about your company in social media
Need for your company to create and optimize
social content
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Social Without Content is a One-Legged Stool
Content Marketing Usage by Tactic
*MarketingSherpa
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Map Content to Taxonomy
Services
Consulting
Staffing
Solutions
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Map Content to Taxonomy Recipes Mango Corn Bean Verde
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Graphic coming
B2B customers are ready to
speak to sales only after
gathering 60% of necessary info
Map Content to Sales Cycle
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Your Content Elsewhere
Centralized and Decentralized Content
Your Content on Your Website
Those Who Know You Those Who Don’t Yet
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Be a Digital Dandelion
Think small!
Myth #5:
Having a “Page” is a Sufficient Social Media Strategy
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This is Not a Blood Oath
87% of B2B companies are using Facebook
or LinkedIn pages
*MarketingSherpa
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Realities of the News Feed
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Focus on Being Social, Not Doing Social
Share of Search
circa 1999
Myth #6:
Social Media is Just Marketing
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Answer the Social Telephone
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Customer Service to the Outraged
Fewer than 1% of Twitter users
turn to Twitter as first customer
service contact.
*ExactTarget
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Set Expectations
70% of customer complaints on
Twitter go unanswered
*Maritz
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The Decision May Not Be Yours
Myth #7:
Social Media isn’t Measurable
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What “It Isn’t Measurable” Really Means:
• We don’t know what to measure • We don’t have access to the right data • We don’t know how to tie data together • We don’t have the time to measure well • We don’t know what the data means 64% of B2B
marketers use Web traffic
generation as #1 social media
metric
*eMarketer
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Social Media-Only Offers
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Lead Generation
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Lifetime Customer Value
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Net Promoter Score
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ROI of Programs
40 hours/month to produce blog x hourly rate per each blogger ($40)
x overhead factor (50%)
+ amortized design fees ($1,000/month)
+ monthly hosting fees ($100)
+ monthly add-ons ($100)
____________________________ = monthly true blogging costs ($3,600)
25 leads/month x conversion rate (20%)
x avg. lifetime customer value ($3000)
x profit margin (30%)
____________________________ = monthly true blogging revenue ($4,500)
ROI = Revenue – Investment/Investment
$4,500 - $3,600 / $3,600 = 25% ROI
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Correlation
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Share Your Scoreboard
7 Myths: • My Customers Don’t Use Social Media
• Social Media Isn’t Worth the Trouble for B2B
• How B2C Uses Social Media Doesn’t Apply
• If Nobody Tweets About Us, We Don’t Need
Social Media
• Having a “Page” is Sufficient
• Social Media is Just Marketing
• Social Media Isn’t Measurable
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Destroy!
Jay Baer www.convinceandconvert.com www.jaybaer.com