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Why B2B Marketers Must Adopt Social Media

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Why B2B Marketers Must Adopt Social Media

  1. 1. The Times They Are A Changing!<br />Why B2B Marketers Must Adopt Social Media<br />
  2. 2. Name: C. Edward Brice<br />Profession: SVP Marketing<br />Age: Over 40<br />Social Media: Yes<br />
  3. 3. We Live In a Connected World<br />Mobile phones will be the dominant web accessing device by 2013, outstripping Pc’s<br /> (1.8Bn vs 1.7Bn) Gartner 2010<br />
  4. 4. Social Media Is Now Mainstream<br />Facebook Over 300M Unique Visitors 228% Growth<br />Twitter Over 7M Unique Visitors with 1382% growth<br />
  5. 5. ..and Word of Mouth…<br />…Has Became World Of Mouth<br />
  6. 6. "Social media in 2010 will cease being the shiny new object and instead become part of the everyday lexicon of business.”…Charlene Li<br />Social Business Is The New Reality<br />
  7. 7. Or Did We All Just Jump the Shark?<br />HEY .. I JUST GOT A HOLD OF SUM GOOD OL' BRONX GRASs!! AND MAN ... I FEEL GOOD<br />
  8. 8. Why Does All This Matter To B2B Marketing<br />What Is Social Media<br />Why Social Media Matters to Marketers<br />The Fallacies of Social Media<br />Lumemension’s Experience<br />Key Learning's<br />
  9. 9. What Is Social Media?<br />
  10. 10. What Is Social Media?<br />“ 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.” AvonashKaushik – Analytics Evangelist, Google<br />
  11. 11. Social Media Is As Old As The Hills<br />Bill The Blacksmith is Awesome. Think I’ll send a courier with this information to my knight friends<br />
  12. 12. Yesterday<br />Communication Friction<br />8 days ride<br />The Great Gorge<br />5 days ride<br />
  13. 13. Today<br />The Knight Just Said He liked Bill the Blacksmith. I trust the Knight.<br />FRICTIONLESS<br />What will my customers find of value on my fan page?<br />Internet<br />
  14. 14. Social Media is Frictionless Conversation In A Connected Environment <br />
  15. 15. Why Social Media Matters To B2B Marketers.<br />
  16. 16. Here<br />The traditional marketing model is being challenged, and (CMOs) can foresee a day when it will no longer work.McKinsey Quarterly<br />
  17. 17. Future of Media: Digital & Universally Accessible<br />Global<br />Mobile<br />TV / Offline<br />The Cloud<br />Anytime - Any Place - Any Way- Millions of Channels<br />
  18. 18. The workers have appropriated the means of production<br />90M Americans Generated content last year<br />88% in social communities<br />15% in virtual worlds<br />25% on blogs<br />You Tube is the #2 search engine globally<br />25% of search results for the top 20 brands linked directly to user generated content<br />“The workers should appropriate the means of production”<br />
  19. 19. (cc) Lynette Webb, 2006<br />
  20. 20. Mass Media Has Lost Its’ Effectiveness<br />76% of consumers don’t believe that companies tell the truth in advertisements<br />Yankelowich<br />
  21. 21. <ul><li>7% increase in word of mouth unlocks 1% additional company growth
  22. 22. 2% reduction in negative word of mouth boosts sales growth by 1%
  23. 23. For the average company, a 1% increase in word of mouth advocacy equated to $16M extra sales </li></ul>Harvard Business Review<br />My Peers Are Who I Trust<br />
  24. 24. B2B Purchase Influences<br />
  25. 25. RADIO, TV, PRINT, EVENTS, … ARE NICE, But In The New REALITY<br />MY ECOSYSTEM IS THE BRAND<br />The words they write, they speak, they film<br />The Stories You Tell<br />«Consumers are beginning in a very real sense to ownour brands and participate in theircreation … Weneed to begin to learn to let go.<br />A.G. Lafley, CEO and Chairman of P&G<br />We No Longer Control Our Brand<br />
  26. 26. Tell us what you think of what we tell you<br />Lets tell each other<br />We Tell You<br />Leadsloth, MIO 2009, CMO 2009<br />80% of Your Customers Now Find You<br />
  27. 27. 'Businesses that won't implement Web 2.0 tools will stay behind' <br />Darko Herlick, Gartner VP and CIO<br />
  28. 28. The Fallacies of Social Media Marketing<br />
  29. 29. Fallacy #1: Build It & They Will Come<br />
  30. 30. We’ve Been Too Focused on Technology<br />Social Media<br />Being Social is About Relationships<br />
  31. 31. Social Media is Conversational<br />
  32. 32. Conversations Are Between People<br />Who Share Relevant Information<br />
  33. 33. Marketing Is Now About Content & Ongoing Conversations<br />Customer<br />Conversation<br />Content<br />Optimization<br />Context<br />30<br />
  34. 34. Fallacy #2: Social Media Is Free<br />
  35. 35. <ul><li>Social media does not scale efficiently-1 to 1 interaction
  36. 36. Social media does not deliver the frequency of revenue generating events
  37. 37. Social media does not deliver the velocity in time to value</li></ul>Marketing Sherpa 2010<br />Nothing Free About Social Media<br />
  38. 38. In the transition of investment to Social Media:<br /><ul><li>No value is created until someone has posted, referenced, commented, or engaged with you.
  39. 39. It takes real people & effort to make social media marketing pay off.</li></ul>The Reality of Social Media Marketing<br />
  40. 40. Fallacy #3: Social Media Is About Lead Generation<br />
  41. 41. Warning, Warning.<br />Sales & Leads Are Nice<br /> But They Are Not The Objectives<br />
  42. 42. Social Media is About Thought Leadership<br />
  43. 43. Social Media Can Amplify Our Efforts<br />
  44. 44. “What do you want to measure the “social” or the “media” - David Alston of Radian6 <br />Fallacy #4: The ROI of Social Media<br />
  45. 45. Social <br />Media<br />The Big Bang<br />Traditional<br />ROI<br />
  46. 46. Media<br />Social<br />Objectives:<br /><ul><li>Reach
  47. 47. Awareness
  48. 48. Frequency
  49. 49. Continuity</li></ul>Measures:<br /># of visitors<br /># of page views<br />Time on site<br />Conversions<br /><ul><li>Leads/Subscriptions/Sponsorships</li></ul>Channels/Tools: Twitter, Digg, YouTube, blogs, communities etc<br />Objectives:<br /><ul><li>Loyalty
  50. 50. Advocacy
  51. 51. Trust
  52. 52. Influence
  53. 53. Engagement</li></ul>Measures:<br />Sentiment Comments Feedback Mentions Readership<br />Business Value<br />Increase In Revenue<br />Decrease In Costs<br />
  54. 54. Awareness<br />Engagement<br />Listening<br />Innovation<br />Brand<br />SEO<br />Community<br />Thought Leadership<br />Advocacy<br />Influence<br />Evangelism<br />Feedback<br />Sentiment<br />Service<br />Insight<br />Ideation<br />Collaboration<br />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.<br />Ed’s Social Media Strategic Framework<br />
  55. 55. Our Social Value Strategy Matrix<br />
  56. 56. Our Experience With Social Media<br />
  57. 57.
  58. 58. Twitter<br />YOU Tube<br />Community<br />Ipod<br />Blog<br />Facebook<br />
  59. 59. Blog Metrics<br />Initial Results: <br /><ul><li>Total Visits 12,844
  60. 60. 1800 visits/month
  61. 61. 60 visits/day
  62. 62. 69% of visitors are new
  63. 63. *Pageviews 3,263</li></ul>+134%<br /><ul><li>*Pages / Visit 2.93</li></ul>+58%<br /><ul><li>*Bounce Rate 58%</li></ul>- 14%<br /><ul><li>*Time on Site 3:00</li></ul>+ 65%<br />*April-22 to May-10<br />
  64. 64. Direct Blog Impact on Press<br />
  65. 65. Lumension Branded Channel-YouTube<br /><ul><li>Launched June 2008
  66. 66. Video Views – 25,000+
  67. 67. Subscribers – 60+
  68. 68. Favorites Lists - 20
  69. 69. Syndicated – over 100</li></li></ul><li>Lumension Connect Customer Community<br /><ul><li>Launched July 30th (select invitations)
  70. 70. Membership</li></ul>220 Members<br /><ul><li>Visitor Commitment</li></ul>8.57 pages avg. per visit<br />11.24% of visitors viewed more than 20 pages<br />8:50 avg. time on site<br />24.5% bounce rate<br />~8 visits per day<br />Content Garden<br />
  71. 71. Lumension Twitter<br />Started:Q3 08<br />Followers:1100<br />
  72. 72. Listening: The Ugly<br />
  73. 73. Listening: The Good<br />
  74. 74. Integrated Syndicated Approach<br />PR Web<br />Blog<br />Agency<br />Hot Topics<br />Twitter<br />
  75. 75. Impact of Social Media<br />Cut Marketing Spend in 2009<br />Attained organic rankings for keywords in FDCC, SCAP and IAVA<br />Traffic from referring sites has increased 19.5% over last half of 2008<br />Top 30 Diamond Keywords have had overall month to month organic ranking gains for first half of 2009<br />
  76. 76. US 2008/2009 Comparison <br /> 55% increase in 2009 press coverage<br />55<br />
  77. 77. Key Learning's<br />
  78. 78. Decide If You Want To Have A Conversation<br />
  79. 79. Understand Your Personas<br />LISA <br />AUDIT MANAGER<br />BIG REGULATED, INC.<br />CHUCK<br />CISO/VP INFO SEC<br />BIG REGULATED, INC.<br />JACK <br />Dir./Mgr. InfoSec<br />Mid REGULATED, INC.<br />Reads Industry Blogs<br />Member of Online Professional Community<br />Socially Facebooks<br />Active Blogger<br />Member of Online Professional Community Engaged in online forums<br />Socially Facebooks<br />Reads industry publications & business press<br />Attends industry events<br />Facebooks to keep in touch with Grandchildren<br />
  80. 80. Content Is King<br />
  81. 81. Think Like a Publisher<br />
  82. 82. Don’t Forget About Your Website<br />
  83. 83. Social Media Doesn’t Scale<br />It’s a Commitment & Culture<br />
  84. 84. “There is only one thing in the world worse than being talked about, and that is not being talked about.”..Oscar Wilde<br />
  85. 85. Thank You<br />Blog: marketinggimbal.com <br />Follow: twitter.com/cedwardbrice<br />Connect: linkedin.com/in/cedwardbrice<br />Friend: facebook.com/cedwardbrice<br />

Notes de l'éditeur

  • Cmo—80% of your customers find you
  • When we start looking at value creation versus just hard ROI we can beging to see a different context and in my view relationship start to emerge
  • ContentMarketing has been distermediated from the brand experienceSales has been distermediated from the buying processMarketing&apos;s role is how to build a content model that delivers value to customers across the buying process, yet also optimizes sales and enables them to add value. Marketing also has support a content a model that supports, enables and extends the conversation.Context
  • Do you measure ROI today?  If yes, how?  What have been the early results?ROI is tricky, and I’d be hard pressed to say anyone has it completely figured out.  “Going Social” has required relatively little capital investment, and intuitively, we feel it’s an important place for us to be moving forward.  But, we haven’t come across a tool that measures exactly what we want to look at across all the places we have a social presence, so we’re very busy building out our own metrics using a variety of proprietary measurement tools, as well as publically available tools.  reached out to John Bernier, who is the marketing manager at Best Buy who is leading the Twelpforce efforts,
  • When we start looking at value creation versus just hard ROI we can begin to see a different context and in my view relationship start to emergeCapcity of a 1000 people to innovate is far greater than a few executives
  • compeitors
  • 83% increase in features in 2009131% increase in commentaries in 200994% increase in mentions in 20092009Total: 192Features 18 Commentaries 118 Mentions 35 Standalone Articles 18 Bylinded Articles 32008Total: 124Features 3 Commentaries 51 Mentions 18Standalone Articles 6 Bylinded Articles 1