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Why B2B Marketers Must Adopt Social Media The Times They Are A Changing!
| Date post: | 17-Jul-2015 |
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Business |
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Why B2B Marketers Must Adopt Social
Media
The Times They Are A Changing!
Name: C. Edward Brice
Profession: SVP MarketingAge: Over 40Social Media: Yes
We Live In a Connected World
Mobile phones will be the dominant web accessing device
by 2013, outstripping Pc’s (1.8Bn vs 1.7Bn)
Gartner 2010
Social Media Is Now Mainstream
Facebook Over 300M Unique Visitors 228% Growth
Twitter Over 7M Unique Visitors with 1382% growth
..and Word of Mouth…
…Has Became World Of Mouth
"Social media in 2010 will cease being the shiny new object and instead become part of the everyday lexicon of business.”…Charlene Li
Social Business Is The New Reality
HEY .. I JUST GOT A HOLD OF SUM GOOD OL' BRONX GRASs!! AND MAN ... I FEEL GOOD
Or Did We All Just Jump the Shark?
Why Does All This Matter To B2B Marketing
What Is Social Media
Why Social Media Matters to Marketers
The Fallacies of Social Media
Lumemension’s Experience
Key Learning's
What Is Social Media?
What Is Social Media?
“ Social media is like teen sex. Everyone wants to do it. Nobody knows how. When it’s finally done there is a surprise that it’s not better.” Avonash Kaushik – Analytics
Evangelist, Google
Social Media Is As Old As The Hills
Bill The Blacksmith is
Awesome. Think I’ll send a courier
with this information to my
knight friends
Yesterday
Communication Friction
8 days ride
5 days ride
The Great Gorge
Today
FRICTIONLESS
Internet
What will my customers
find of value on my fan
page?
The Knight Just Said He liked
Bill the Blacksmith. I
trust the Knight.
Social Media is Frictionless Conversation In A Connected
Environment
Why Social Media Matters To B2B
Marketers.
The traditional marketing model is being challenged, and (CMOs) can foresee a day when it will no longer
work. McKinsey Quarterly
Here
Future of Media: Digital & Universally Accessible
Global Mobile TV / Offline The Cloud
Anytime - Any Place - Any Way- Millions of Channels
“The workers should
appropriate the means of
production”
90M Americans Generated content last year
88% in social communities15% in virtual worlds25% on blogs
You Tube is the #2 search engine globally
25% of search results for the top 20 brands linked directly to user generated content
The workers have appropriated the means of production
(cc) Lynette Webb, 2006
Mass Media Has Lost Its’ Effectiveness
76% of consumers don’t believe that companies tell the truth in advertisements
Yankelowich
Harvard Business Review
• 7% increase in word of mouth unlocks 1% additional company growth
• 2% reduction in negative word of mouth boosts sales growth by 1%
• For the average company, a 1% increase in word of mouth advocacy equated to $16M extra sales
My Peers Are Who I Trust
B2B Purchase Influences
The words they write, they speak, they film
The Stories You Tell
RADIO, TV, PRINT, EVENTS, … ARE NICE, But In The New REALITY
MY ECOSYSTEM IS THE BRAND
«Consumers are beginning in a very real sense to own our brands and participate in their creation … We need to
begin to learn to let go.A.G. Lafley, CEO and Chairman of P&G
We No Longer Control Our Brand
Leadsloth, MIO 2009, CMO 2009
We Tell YouTell us what you think
of what we tell youLets tell each
other
80% of Your Customers Now Find You
'Businesses that won't implement Web 2.0 tools will
stay behind'
Darko Herlick, Gartner VP and CIO
The Fallacies of Social Media
Marketing
Fallacy #1: Build It & They Will Come
Social Media
We’ve Been Too Focused on Technology
Being Social is About Relationships
Social Media is Conversational
Conversations Are Between People
Who Share Relevant Information
31
Marketing Is Now About Content & Ongoing Conversations
CustomerConversation
Context
ContentOptimization
Fallacy #2: Social Media Is Free
Staffing; 60%
Outside Resources,
20%
Technology; 20%
Social Media Marketing Budget
Marketing Sherpa 2010
• Social media does not scale efficiently-1 to 1 interaction
• Social media does not deliver the frequency of revenue generating events
• Social media does not deliver the velocity in time to value
Nothing Free About Social Media
In the transition of investment to Social Media:
• No value is created until someone has posted, referenced, commented, or engaged with you.
• It takes real people & effort to make social media marketing pay off.
The Reality of Social Media Marketing
Fallacy #3: Social Media Is About Lead Generation
Sales & Leads Are Nice
But They Are Not The Objectives
Warning, Warning.
Social Media is About Thought Leadership
Social Media Can Amplify Our Efforts
“What do you want to measure the “social” or the “media” - David Alston of
Radian6
Fallacy #4: The ROI of Social Media
TraditionalROI
Social MediaThe Big Bang
SocialMedia
Business ValueIncrease In RevenueDecrease In Costs
Objectives:• Reach• Awareness• Frequency• Continuity
Measures:# of visitors# of page viewsTime on siteConversions
• Leads/Subscriptions/Sponsorships
Channels/Tools: Twitter, Digg, YouTube, blogs, communities etc
Objectives:• Loyalty
• Advocacy• Trust
• Influence• Engagement
Measures:Sentiment
Comments Feedback Mentions
Readership
BrandSEO
CommunityThought
Leadership
AdvocacyInfluence
EvangelismFeedback
SentimentServiceInsight
IdeationCollaboration
Awareness Engagement Listening Innovation
We will not understand the value of Social Media until we understand what is being said, who is saying it, what influence they have, the effect of
what they are saying and the effect of what we are saying.
Ed’s Social Media Strategic Framework
Our Social Value Strategy MatrixAwareness Engagement Listening Innovation
Value Goals Improve SEOExtend our Brand through leadership
Dialogue & with our ecosystemInfluence The Influencers
MonitorSentiment
Elicit feedbackCo-innovate
SuccessMetrics
MentionsReferring linksNew VisitorsOrganic RankingsSyndication
Build channels# Blog Comments# Twitter Engagements
Build Channels#Engagement# of issues addressed
Build Community# of Customer members# of content uploads
Tools/Channels PrwebBlogTwitterFacebookYoutubeItunes
BlogLinked InTwitterFacebook FlickrYoutube
TwitterBlog
CommunityBlog
Value Drivers Cost of advertisingCost of SEO & PPC
User groupEventsAnalyst Meetings
Customer service costsCompetitive Intel
Development bandwidthUser group events
Our Experience With Social Media
Ipod
YOU Tube Twitter
Community
Blog
Blog MetricsInitial Results:
• Total Visits 12,844• 1800 visits/month• 60 visits/day• 69% of visitors are
new
• *Pageviews 3,263
+134%
• *Pages / Visit 2.93
+58%
• *Bounce Rate 58%
- 14%
• *Time on Site 3:00
+ 65%
*April-22 to May-10
Direct Blog Impact on Press
Lumension Branded Channel-YouTube• Launched June 2008• Video Views – 25,000+• Subscribers – 60+• Favorites Lists - 20• Syndicated – over 100
Lumension Connect Customer Community
• Launched July 30th (select invitations)
• Membership
– 220 Members• Visitor Commitment
– 8.57 pages avg. per visit
• 11.24% of visitors viewed more than 20 pages
– 8:50 avg. time on site– 24.5% bounce rate– ~8 visits per day– Content Garden
Lumension Twitter
Started:Q3 08Followers:1100
Listening: The Ugly
Listening: The Good
Integrated Syndicated Approach
Hot Topics
Agency
PR Web
Blog
Impact of Social MediaApril 2008 April 2009
% Change
Acquisition
Visitors 41,149 60,083 46.01%
Referring Traffic 7,809 10,233 31.04%
New Visitors 69.04% 78.44% 13.62%
Commitment
Page Views 111,970 124,717 11.38%
Cut Marketing Spend in 2009
Attained organic rankings for keywords in FDCC, SCAP and IAVA
Traffic from referring sites has increased 19.5% over last half of 2008
Top 30 Diamond Keywords have had overall month to month organic ranking gains for first half of 2009
US 2008/2009 Comparison
56
Features
Mentions
Bylinded Articles
0
20
40
60
80
100
120
US 2009US 2008
55% increase in 2009 press coverage
Key Learning's
Decide If You Want To Have A Conversation
Understand Your PersonasLISA
AUDIT MANAGERBIG REGULATED, INC.
JACK Dir./Mgr. InfoSec
Mid REGULATED, INC.
CHUCKCISO/VP INFO SEC
BIG REGULATED, INC.
Reads Industry Blogs
Member of Online Professional Community
Socially Facebooks
Active BloggerMember of Online
Professional Community
Engaged in online forums
Socially Facebooks
Reads industry publications &
business pressAttends industry
eventsFacebooks to
keep in touch with Grandchildren
Content Is King
Think Like a Publisher
Don’t Forget About Your Website
Social Media Doesn’t Scale
It’s a Commitment & Culture
“There is only one thing in the
world worse than being
talked about, and that is not being talked
about.”..Oscar Wilde
Thank You
Blog: marketinggimbal.com
Follow: twitter.com/cedwardbrice
Connect: linkedin.com/in/cedwardbrice
Friend: facebook.com/cedwardbrice
