Social Media for Business Marketersthe real ways B2B marketers can use social media to drive success
© 2011 Marketo, Inc.
Our SpeakersPaul Gillin / @pgillin
Eric Schwartzman / @ericschwartzmanEric Schwartzman / @ericschwartzman
Authors of
Social Marketing to the Business Customerwww.B2BSocialMediaBook.com
#Marketo
@pgillin
Tale of Two Media
60,000
70,000
US Newspaper Business
Circulation (000)
SomewhaVery
Perceived ROI of Company's Social Media Activities
30,000
40,000
50,000Revenues ($000)
Somewhat negative
2%
Neutral16%
S h
Very positive
36%
0
10,000
20,000
1994 1997 2000 2003 2006 2009
Somewhat
positive46%
1994 1997 2000 2003 2006 2009
Average age of US daily newspaper reader: 57Reduction in US newsroom staffs
93% of B2B buyers use search to begin the buying process80% of IT decision-makers say Reduction in US newsroom staffs
since 2001: 45%Direct-mail spending is expected to decline nearly 40% by 2014
word of mouth is their most important source when making buying decisionsGoogle Processes 38 000
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Google Processes 38,000 search queries every second
How is B2B Different?
• Value-drive decision-makingGroup consensus• Group consensus
• “Bet the business”• Long-term relationshipsLong term relationships• Audience is knowledgeable, engaged, serious• Intense need for information
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Calling All Stakeholders
Number of People Involved in Technology Buying Decisions by Purchase Amount
$25,000 - $99,999
$100,000 - $999,999
1 - 3 4 - 8
9 - 15 >15
More than $1 million
9 15 15
0% 10% 20% 30% 40% 50% 60%
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New World Prospecting
OUTBOUND INBOUND
Bottom-up lead gen
Enhanced lead
SEO
Blogsqualification
Multiple points of
g
C t t P i Multiple points of engagement
Content Premiums
Word of Mouth
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Tools for the Funnel
Impression
SalesLead
White paper | eBookAnalyst report | PublicationBlog | Article | Tweet | Podcast
Quality Contact Case study | Video testimonial
G id d | P d d
Prospect
Guided tour | Product demoWebinar | Press coverageGlossary | ROI calculator
Free trial/ConsultationHelp desk | Chat | ForumTraining | Usage tips C t t i f ti
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CustomerContact information
Source: NowSpeed Marketing, Inc.#Marketo
Mainstays of B2B Social Media
Value of Each Social Media Platform
Blogging
YouTube
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Least important 2 3 4 Most important
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BtoB Magazine Survey of 387 Marketers, April, 2010
#Marketo
Thought Leadership
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Lead Gen Excellence
73 blogs
17 bloggers
600% jump in leads
Top quality
“Get engineers talking to engineers and get everyone else out of the middle.”
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Rick Short, Marcom Director#Marketo @ericschwartzman @pgillin
Oh, the Things That You Know!
March 30 April 4 April 9Prospect reaches website
through search query "small business accounting," views four pages and subscribes to
newsletter.
Prospect responds to e-mail invitation for "Choosing Small Business Accounting Software" webcast 30 minutes after e-
mail is sent.
pProspect attends webcast,
stays 45 minutes and submits a question related to legal
practices.
April 10Prospect clicks link in webcast
summary e-mail to visit product description page. He
downloads PDF of product
April 12Prospect downloads trial
version of your small business accounting software for legal downloads PDF of product
brochure about software for legal practices.
accounting software for legal practices.
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Social Networks: The Power of 130
The average Facebook member has 130 friends, who each receive notifications of their network’s Facebook activities
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Reuse and Distribute
Use Every Available Channel to Promote
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Don’t Just Say “Follow Us On Twitter”
Promote benefits of membershipDescribe contentOff lti lOffer multiple topical destinationsEmbed widgets toEmbed widgets to keep people on site
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ROI is Simple, Knucklehead
ROI = COST OF INVESTMENT
(GAIN FROM INVESTMENT - COST OF INVESTMENT)
COST OF INVESTMENT
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Basic Business Metrics
Lifetime Value of a Customer = (Longevity * Revenue) * Margin(Longevity * Revenue) * Margin
Conversion Rate = Conversion Rate New Customers/ Visits or Leads
Value of a Lead/Visitor = Visitor * Conversion Rate * Lifetime Value
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These are NOT ROI
Website Visitors Press coverage
Video viewsImpressions
Click-throughs
Store visits
RetweetsVideo views
Coupons distributedStore visits “Buzz”
Employment applications Blog comments
Friends
Employment applications
FaceBook friends
Blog comments
Twitter followers
But if you can quantify their financial impact you have ROI!
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impact, you have ROI!#Marketo @ericschwartzman @pgillin
OK, Let’s Make it Real
Typical customer Moe spendsTypical customer Moe spends $10,000/year with you
Moe is with you for five years
Your profit margin is 10%Your profit margin is 10%
Lifetime value of Moe is($10 000 * 5) * 1 $5 000($10,000 * 5) * .1 = $5,000
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Applying ROI: Value of a Visitor
Monthly Visitors
10,000Visitors
Conversion Rate
.5%Rate
Lifetime Value $5,000
Calculation (10,000 * .005 * 5)/10,000Calculation ( , ) ,
Value of a Visitor $25
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[email protected]‐656‐0734Site: gillin.com / Blog: paulgillin.com
[email protected]‐455‐4000ericschwartzman.com/ Blog: ontherecordpodcast.com
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Q AQ&A@pgillin@pgillin@ericschwartman
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Post‐webinar discussion, right after today’s webinar (use #Marketo)today s webinar (use #Marketo)http://bit.ly/MarketoChat
Webinar slides and discussion highlightsg ghttp://linkd.in/marketo‐group
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The Revenue Masters Webinar SeriesJanuary May 2011January - May 2011
Social Media for Business MarketersThe Definitive Guide to Lead ScoringThe Definitive Guide to Lead ScoringCEO Roundtable DiscussionFrom No‐Budget to Signed Deal using Provocation‐Based SellingWinning with Better Landing PagesWinning with Better Landing PagesSearch Marketing and Social MediaBuilding a Successful Customer CommunityAddi th H T h i t L d N t iAdding the Human Touch into your Lead Nurturing
Featuring Anne Holland, Sandy Carter, Paul Gillin, Jon Miller, Lee Odden Brian Carroll Rand Fishkin and moreLee Odden, Brian Carroll, Rand Fishkin, and more.www.marketo.com
Page 24#Marketo#Marketo
The Revenue Masters Webinar SeriesJanuary May 2011January - May 2011
Social Media for Business MarketersThe Definitive Guide to Lead ScoringThe Definitive Guide to Lead ScoringCEO Roundtable DiscussionFrom No‐Budget to Signed Deal using Provocation‐Based SellingWinning with Better Landing PagesWinning with Better Landing PagesSearch Marketing and Social MediaBuilding a Successful Customer CommunityAddi th H T h i t L d N t iAdding the Human Touch into your Lead Nurturing
Featuring Anne Holland, Sandy Carter, Paul Gillin, Jon Miller, Lee Odden Brian Carroll Rand Fishkin and moreLee Odden, Brian Carroll, Rand Fishkin, and more.www.marketo.com
Page 25#Marketo
The Revenue Masters Webinar SeriesJanuary May 2011January - May 2011
Social Media for Business MarketersThe Definitive Guide to Lead ScoringThe Definitive Guide to Lead ScoringCEO Roundtable DiscussionFrom No‐Budget to Signed Deal using Provocation‐Based SellingWinning with Better Landing PagesWinning with Better Landing PagesSearch Marketing and Social MediaBuilding a Successful Customer CommunityAddi th H T h i t L d N t iAdding the Human Touch into your Lead Nurturing
Featuring Anne Holland, Sandy Carter, Paul Gillin, Jon Miller, Lee Odden Brian Carroll Rand Fishkin and moreLee Odden, Brian Carroll, Rand Fishkin, and more.www.marketo.com
Page 26#Marketo
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