Mediaboss Marketing

Making Social Media An ROI Positive Channel For B2B Businesses By Jingcong Zhao

With $5.4 Billion spent on social media marketing in the U.S. alone last year, its clear that social media is being cemented as a marketing function in most B2B organizations. Yet, 61% of marketers claim measuring ROI is a top challenge. In addition, 36% claim tying social to business goals is a challenge, and only 9.4 % are able to quantify the revenue driven by social. Why is social medias ROI so elusive, despite marketers increased focus on this function and despite the proliferation of social marketing tools?

The biggest reason for this challenge has to do with the mindset with which B2B marketers have approached social. Most B2B marketers are still using a social media playbook developed by B2C companies. B2C companies were the first ones to take advantage of social media. They saw social as a channel to build their brand, by taking a broadcast approach and posting content with broad appeal. This approach works well for B2C companies who care most about branding, but doesnt work for B2B companies whose biggest directive is to generate demand and provide qualified leads to a sales team.

Today, a majority of B2B marketers still think of social media as a top of the funnel play. Its there for brand awareness. Its a good way to get our messaging out there. Its a place where we have to be because our competitors are there. However, most of us still dont have visibility into how our efforts translate to business outcomes such as new leads generated, MQLs, opportunities and revenue. To make social media an ROI positive channel in a B2B context, we need to change the mindset that social media is just an isolated channel or just a top of the funnel play. While social media is a great way to build a brands reputation, it can also be a powerful driver of demand.

Social media activity data is a vast source of real time customer intelligence. You can search through social profiles, user generated content, and engagement patterns to identify your target prospects who are just entering a buying cycle. Because B2B buyers are inundated with marketing messages, you need to find new channels to communicate with your prospects. Social provides a one to one engagement channel with your target audience. Private message features like Twitter DMs, LinkedIn Mail and Facebook Messenger provide new channels to communicate with buyers. This type of private channel can be used in the same way as email, enabling delivery of relevant and timely content to your prospects and customers.

If your goal is to use social media to drive real business outcomes, you need to take a step back from the frenzy of building an editorial calendar and response management. Take time to think through how social impacts each of your marketing channels and each stage of the buyer journey.

Attract

To attract an audience of potential prospects, its important to show that you understand your target buyers problems by sharing content that builds trust. Your potential buyers are just starting out their research process and prefer to look to a variety of information sources to self educate. At this stage, posting useful content that educates your buyers on industry trends, tips and best practices that they can apply in their job is the way to go.

You want to help your potential buyers by offering them new ideas and solutions rather than promote your own products. To figure out what content your prospects crave, visit social forums where your target audience are having discussions. Audit the social profiles of influencers in your industry and see what theyre posting. Follow publications in your space and see what content gets the most engagement on their social profiles. By posting high quality, educational, engaging content, you can grow a community of prospects and influencers who amplify your messages and help you grow your social media presence.

Convert

At this stage, the goal is to drive potential prospects to your website so that you can capture their contact information through gated landing pages and start to qualify prospects through nurture programs and content. By using social media in a targeted way, you can bring the right audience into your marketing funnel.

Discovering Potential Buyers

B2B buyers reveal a lot about themselves on social networks as they share content, ask questions, interact with brands, influencers, peers, and react to the events they attend. By using conversational keywords (event hashtags, topical hashtags, mentions of brands, mentions of influencers) and bio keywords (job title, company, location), you can really hone in on your target audience and find those who are actively researching solutions in your space. You can use this insight to craft personalized, relevant messages to prospects who are just entering your buying cycle.

In your message, mention that youre reaching out because you saw they were interested in a particular topic and offer them a resource, an article or e-book, aligned to their interest. For example, lets say a prospect just shared an article from an industry influencer. You had just done a webinar with this influencer. You can send the prospect the link to this webinar. Because the prospect already endorses this influencer, he or she will appreciate the related content you just sent.

Lead Scoring

Today most B2B organizations are using some sort of model to score their leads. Chances are, your organization is already using a lead scoring model that incorporates some behavioral data like email engagement, website visits, ad clicks and downloads of your gated content. Not having social activity data in your lead scoring model means that youre missing a key piece of demand generation data. Social activities provide indicators of buyer interest. For example, someone who clicked on a social post is comparable to someone who clicked on an ad or an email link.

Someone who retweets your post is someone whos endorsed your content. Someone who follows your brand handle is choosing to subscribe to your content and should be equivalent to a blog or newsletter subscriber. Someone who replies to your direct message has taken the time to engage, and can be considered equivalent to an email reply. Whom your prospects follow on social can also provide insights into their mindset. Followers of certain Twitter handles (i.e. influencers in your space, senior executives in your company) or LinkedIn groups are expressions of interest you can score along posts and clicks.

Lead Nurturing

Social media can be an effective channel for lead nurturing. By tracking the social activity of leads in your marketing automation system (i.e. interactions with certain keywords, brands, events, influencers), youre able to know in real time when someone is ready to engage, respond to them promptly, either directly on social media or through a triggered email nurture program, and move them further down in the marketing funnel. For example, if you found that one of your leads just tweeted about leaving a competitor, thats a hot lead that should be sent to sales immediately.

Re-engagement

Social media also presents an opportunity to re-engage with cold leads or lost opportunities. For example, you could identify leads who have not visited your website in the last two weeks, have not opened your emails in the past 30 days, but have mentioned relevant keywords related to your product space in their tweets in the past week. You could reach out to these leads on social and send them a resource to keep lines of communication open.

Close

In the past, our job as marketers was done once we passed the leads over to sales. Now, we are increasingly held accountable for the quality of leads we generate. Were also expected to assist our sales team in closing deals. Marketers have always invested in conferences, trade shows and industry events, because we know that in-person events help close deals. Today, every conference comes with its own hashtag, used by hundreds of attendees as they discuss relevant topics and react to what they hear on social media. As a business attending or sponsoring an event, the conference hashtag is key to targeting, engaging, and closing your qualified leads.

Last May, we sponsored the Marketo Nation Summit. Through our own platform we set up a campaign to track the hashtag #MKTGNation. For any lead who tweeted the hashtag, we sent them an invitation email letting them know that well be at the event and included a link to a form where they can register for our VIP List. Those who attended the event also received an automated email from our sales reps to schedule a one-on-one demo at our booth for a chance to win booth prizes. We were able to set up all of our booth demos using this campaign before the Summit even began.

After the Summit, rather than just calling down the list of attendees we collected from the event, we made sure to stay connected with those who are still the most engaged from the event (based on their social media activities). One of our customers, Dynamic Signal, also used this tactic and as a result doubled the number of opportunities generated compared to their traditional post event follow-up.

Finally, one of the benefits of social media is that you dont actually have to sponsor an event to generate leads. These strategies can be used even without a booth presence. One company, a leader in contract management software, uses a social demand generation solution to generate leads from conference hashtags and handles, and theyve seen enough success from social alone that theyve been able to scale back their event sponsorship budget. Now thats a good return on their investment.

At the end of the day, you want to make sure that all of your marketing channels, including social media, are focused on bringing your sales team qualified leads and opportunities. Social networks and social activity data provides new ways for you to discover, engage with, and nurture your prospects to bring new customers to your company.

Jingcong Zhao is the Content Marketing Manager at Socedo. She is responsible for content strategy and oversees the development of content across the marketing funnel. Connect with her on LinkedIn or Twitter. Socedo is a B2B social demand generation system that helps marketers discover, engage and qualify leads through social media to increase revenue at scale.

More:
Making Social Media An ROI Positive Channel For B2B Businesses - The Realtime Report (registration)

Loie Greenwood, 19, spent last summer in Columbus doing an internship with Complete Research Connection. As the summer drew to a close, Greenwood realized that there was a need within small and medium sized businesses to expand their online presences. This is how Greenwood came up with the concept ofMe4Me.

I was just trying to be a college kid, but I also wanted to run with something I thought would be pretty sweet, Greenwood said.

Me4Me is a social media consultation business focusing on developing online platforms for small to medium sized businesses.

We take small businesses and learn about their brand and current marketing efforts and design around their brand, Greenwood said. [The businesses] will give us all their brand details and what they like to do and what they want out of our services.

Greenwood partners with an old high school friend, Grant Benniger, who is currently studying at theOhio State University. Together, the two use three different platforms, Hootsuite, Tweetdeck and Crowdfire, to coordinate social media postings for a businesss social media presence. These can include anything from Tweets to website promotions.

On Sundays, Greenwood spends roughly four to five hours scheduling posts for clients for the next week or so. He spends the other days of the week consulting with clients. Currently, Greenwood manages seven to nine clients and their social media platforms, including Springfields very own Bada Bing! Pizzeria.

At Wittenberg, Greenwood is double majoring in psychology and marketing while also double minoring in statistics and communication. While managing this course load, he is also the Executive Corresponding Secretary at Phi Kappa Psi, the Digital and Social Marketing Intern at Parkhurst Dining, a member of the Student Leader Fellowship and he works as a Tour Guide and within the Oral Communications Center.

With everything Greenwood is involved in, it can be easy to fall behind. However, Greenwood shared a simple strategy for retaining his sanity amidst everything a college lifestyle can bring.

I am able to prioritize things in my head, Greenwood said. Prioritization leads into time management and a hefty to-do list every day.

Although he spends a great part of his day in classes and consulting with clients, he spends his nights focusing on his schoolwork, and has even discovered a new way to focus.

I picked up listening to Mozart with I was studying, Greenwood said.

While also listening to Mozart, Greenwood has been focusing on learning to put his phone down in an effort to focus on life around him. To keep up his social life, his fraternity brothers pull him out of his room on weekends and he finally gets a chance to relax.

Social life is my priority on Saturdays, Greenwood said.

Overall, Greenwood has one main goal through his creation of Me4Me, a goal that many other Wittenberg students can relate to.

Truly, the goal is to pay my way through college and give myself a good backing for graduation, Greenwood said. I want to come out positive after senior year. Most importantly, I want to gain experience. I want to give myself a fun way to make money rather than working at a Wendys.

Although Greenwood has enjoyed his journey through the process of Me4Me since its creation in August, it hasnt been without its problems. Besides learning how to file tax paperwork, Greenwood has had a hard time getting paid and dealing with some business owners.

The biggest problem so far is the retention rate of clients, Greenwood said. The stereotypical small business owner is going to be a baby boomer and they are not as fluent in the social media and digital media area as we are. When they look at things after a month, they are not seeing how that month with me monetized their company. They think they should be bringing in more money, but it takes some time.

Although he doesnt know the longevity of Me4Me just yet, Greenwood and Benniger have set a goal of generating ten thousand in profit for the 2017 year.

To anyone thinking about starting their own business, Greenwood shared some words of advice.

Write it down, plan it out and truly investigate everything that youll need to do once this business kicks up, Greenwood said. Dont fall back on Google. Go to the library and do some research. Call the Ohio Database Center to figure out how to file. Google will be misleading and contradicting. Plan it out but go for it. If you fail at this age, youre not losing a ton, except for some sleep and possibly your sanity.

Students can find Greenwood on Twitter, LinkedIn and VSCO, as well as around campus within the many things he is involved in. Students can also visit his website: me4me.info.

More here:
Successful Startups: Me4Me Providing Social Media Consultations for Businesses - The Wittenberg Torch

The past couple of years have seen the exponentially expanding technology bubble that has allowed small business owners to really embrace social media. Instagram has created Brand Pages, Pinterest has rolled out Advertising, and Facebook continues to gather powerful data levelling the playing field between big brands and mom and pop shops. Its truly remarkable how technology has taken off, and how many ways in which we can utilize it.

As more and more folks shift to the online world and become active in social media (and upon last estimation 78% of Americans ARE active on social media), small business owners are taking notice and turning toward these platforms for growth. However, some entrepreneurs want to put a definition-restriction around social media by labeling the marketing conducted through this platform as social media marketing in opposition to plain old marketing. Here are some reasons that thinking may not be conducive to your business, and why relevance is key to success.

Substitution

Over time more efficient systems replace less efficient ones. Consider: Cars were once horseless carriages. Locomotives once operated on a steam engine. Billboards used to be cutting edge. People used to read Newspapers daily. Now, none of those things have strictly gone out of use, but a new method of approach has by and large replaced them. Certainly, there are horse-drawn carriages for recreation. Steam engines have a similar occupation. Billboards still get play, though the rate game has changed. And most Newspapers are still around; though people read them and buy them for different reasons now, going to the internet for swift updates. Facebook, Twitter, LinkedInsocial media in generalhave all by and large replaced the Newspaper. Modern media is literally crowd-sourced, and any cogent marketer must take advantage of this.

Multiple markets

Webcast, February 2nd: Behavioral Marketing Tactics to Drive Sales and Retention

Social media isnt constrained to a locality defined geographically or legally. There are many social media accounts with international Friends on them from countries across the globe. When something is marketed through social media, it impacts not only those in the immediate community, but it collaterally has an effect on untold masses elsewhere also. This means it is integral as a marketing tool because its naturally inexpensive and universal nature predicates quantifiable success.

Marketing requires consistency

For many businesses, using social media to market their brand has been a challenge. In recent years, the public has not only grown savvy to established marketing techniques employed by companies but has also almost become immune to these tactics. Ads, leaflets, direct mail and email just dont have the same impact as they used to have. With this awareness increasing amongst target audiences, companies have to come up with new ways to make an impression and differentiate themselves from the competition.

One things for sure: by using social media, brands have the chance to create a strong media presence by interacting with customers online. Social tools can also help to strengthen brand perception by communicating core values to a wider audience. This, in turn, opens up the opportunity to start conversations, grow business partnerships and expand the online community to win new followers and potential customers.

To do that, however, it is key not to fall into the same trap as with traditional marketing tactics repeating the same old strategies over and over again. Businesses need to harness the possibilities online platforms have to offer and present the audience with fresh and original ideas. It is important to consider that, after several years of social media, people have grown accustomed to the new media.

Today, one of the most characteristic traits of both social media, and its users, is its fast-moving nature. Organizations today know that is no longer enough to tweet every so often or update their Facebook page with their latest press release. The audience consistently craves news and innovation.

Conclusion

Its not that social media marketing is separate from regular marketing, its that in the modern world, marketing now requires social media to be effective like older marketing methods used to be. So use Facebook! And, if you get stuck reach out!

Susan Tucker is a self-proclaimed inbound marketing geek who uses her passion to help small business owners through her marketing company,Get Susan Marketing LLC. Susan has helped solopreneurs, start-ups, digital media companies, service providers, non-profits, e-commerce companies, and many others navigate the changing digital landscape by successfully setting them Viewfullprofile

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It's Not Social Media Marketing (It's Just Marketing!) - Business 2 Community

The rise of 'dark social' - online conversations that are not trackable by marketers - will have a growing impact on brands' social strategy in 2017, according to Warc, the global marketing intelligence service. Research suggests a growing proportion of online social activity is 'dark', driven by the rise of chat or mobile-focused messenger apps, such as Whatsapp, Facebook Messenger, Line and WeChat.

Jason Warnes, Digital Marketing Partner at Deloitte Digital, explains, The emergence of chat functionality on smartphones has gone beyond the simple sharing of messages and pictures, and has become a complete ecosystem for consumers. This has the potential to provide a wealth of data touchpoints for organisations to tap into, but many of these touchpoints are contained within private networks creating a challenge for marketers.

David Tiltman, Head of Content at Warc, says, The rise of 'dark social' has two major implications for marketers. First, there may be an impact on social listening techniques and the quality of information available from monitoring 'open' social platforms. And second, there is expected to be a move away from 'real time' social strategies towards conversation-based approaches.

Key insights identified in Warcs Toolkit 2017 on dark social and chat apps that will impact marketers are:

1.Levels of 'dark social' vary by category: According to a RadiumOne research study, 84% of social sharing happens via dark social platforms such as email, copy-and-paste links in instant messaging apps and texting. However, 90% of social marketing investment is on public platforms making 'dark social' a potential area of opportunity for marketers. Dark social sharing by consumers varies wildly by category with the automotive category ranked the highest at 82.4%, followed by finance (72.1%), FMCG (61%) and retail (56.3%).

2.Brands may be missing out on 'dark social' insights: 'Dark social' may be a better reflection of a consumer's true feelings than comments posted on public platforms where a consumer may be presenting a particular persona or image. As such, it is becoming increasingly challenging for brands to build a holistic understanding around key buzz topics in the category they operate in, as well as picking up direct buzz around respective brands, products and campaigns.

3.Link shorteners are a low-tech way of testing 'dark social' activity: There are various steps brands can take to track sharing in 'dark social' channels. Shortened URLs can encourage people to share using trackable links. And "cross-comparing" spikes in dark social with popular content themes might offer new insights regarding the subjects that attract the highest number of shares, as well as identifying the topics of particular interest to online audiences.

4.Chat apps are moving social marketing toward conversations: Chatbots are becoming more than CRM platforms; they are increasingly able to answer consumer questions at all stages of the customer journey. Designing for conversational experiences will require a completely new approach to branding combining complex data management, Artificial Intelligence and a brands tone of voice.

5.Brands are already delivering successful chatbot initiatives: Numerous brands are already exploring whether chatbots can boost their business. Marketers experimenting with chatbots are advised to identify the precise consumer needs which chatbots can fulfil for a brand, and consider which platform(s) may be most appropriate in the short term (for testing) and the long term (for reaching a brand's target audience).

6.Marketers will need to decide on which platforms they deploy chatbots: The chatbot industry is growing at a rapid rate, with many ways for marketers to design and implement this type of CRM. Marketers will, however, need to consider their consumers and industry when designing their approach to chatbots. For example, it remains to be seen if consumers would trust a chatbot on Facebook with their bank details versus using a bot on their bank's website, or the website of an established retailer.

7.China's WeChat shows how chat might evolve: Tencent-owned WeChat is setting the bar for what messaging and social networking will look like in the future. It has developed from a chat app into a mobile lifestyle hub, providing, for example, an e-commerce platform, ticket-booking for restaurants, and cab-hailing. Crucially, it has payment services included, allowing it not just to connect people but also connect people to business. As a result, WeChat has become the platform to which other chat apps are looking for inspiration.

The rise of dark social and chat apps is one of six key trends featured in Warcs Toolkit 2017. The annual report is produced in association with Deloitte Digital.

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Rise of 'dark social' and chat apps to impact marketers: Warc Toolkit 2017 - Exchange4Media

Its still January, but the year is already slipping away. Those goals you made to elevate your marketing in 2017 cant be met if you dont start putting plans into action. Your social marketing is just one factor to consider. We make it a little easier for you with these trends you could put into play right away.

Interactive video will be huge this year, and that means you should probably take a look at how it might impact your marketing efforts. With 43% of marketers planning to use Facebook Live and other interactive video platforms, new techniques and uses will surely follow.

How does Facebook Live differ from other marketing video efforts youve put forth in the past? First, there is no time to edit. What you put forth into the world is unvarnished and absolutely immediate. Those YouTube and Instagram videos that went through voiceover work, editing, and polishing, they still have a place in your marketing arsenal. But live video does something these edited videos cant: provide authenticity.

Live video shows your business in all its glory, with the foibles and the flaws. Your customers like that, believe it or not. They like knowing that the image theyve built in their heads, the connection theyve made with your brand, matches reality. What better way to give them reality than live video?

Webcast, January 31st: How to Cut CAC, Raise Retention, and Supercharge Recurring Revenue with Channel Partners

So, how can you use it? One-time events are huge with live videos. Make buyers feel like theyre right there with you during product launches, conventions, demonstrations, or celebrity endorsements. You can also use live video for Q&A sessions, tutorials, and product comparisons. Interviews with real customers can also go a long way with your buyers.

Email addresses and phone numbers used to be enough for buyers to contact your business. Now, however, you should be available through several mediums. One of the most popular choices is Facebook Messenger, which is automatically available to any businesses that build a page.

Buyers like the ability to reach out from wherever they are. If theyre cruising social media and have a question, concern, or comment, they want to send that message without disrupting their activities. Without the ability to send messages through various platforms, including LinkedIn, Twitter, Instagram, and, well, pretty much any other social media available, these buyers may not put forth the effort of connecting with you.

Ecommerce integration is now available through Instagram, Facebook, and Twitter. That means buyers who are scrolling through their social media feeds and see an amazing new product from your company wont have to leave the page to search for you online.

If you sell products or services, make an effort to connect your ecommerce sales to your social media accounts. Removing friction in the buying process is the best way to make sure your customers get from want to own in the shortest amount of time possible.

Social media platforms have made marketing to select groups easier than ever. Sure, Google can bring you some good results, as long as people are searching specifically for the services and products that you offer. On Facebook, Twitter, and Instagram, your target audience can see your ads simply because theyre your target audience.

Facebook took home more than $7 billion for advertising in 2016, and that number is certain to rise. They continue to tweak the process so that ads are the right amount of disruptive for brands and the right amount of obscure for buyers. That means the people you pay to put your ads in front of wont be as annoyed by your message, but theyll certainly see it.

The targeting possibilities are endless with social media, too. You can drill down to the exact people who would be most interested in what you have to offer, or you can cast a wider net to see how many new buyers you could bring in. Specify ages, geographic locations, likes and dislikes, current brands the target is following, marital status, and so much more to make sure youre not wasting a single marketing dollar.

If youre already using some of these tactics, you know how powerful social marketing can be. If youre not, maybe its time to set your brand on fire in 2017. Give us a call and let us help you get started.

Driven by a passion for marketing and 25 years helping companies of all sizes drive awareness, engagement, response and ROI, I launched Marketing Initiative Worx tohelp companies and agencies drive their business by taking their marketing to the next level. I founded the company on the belief that defining a Viewfullprofile

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4 Social Marketing Trends to Implement This Year - Business 2 Community