Making Social Media an ROI Positive Channel for B2B Marketers

Agenda

1. What’s keeping social media from becoming an ROI positive channel

2. Taking a demand generation marketing mindset to social

3. Why social media strategy needs to take into account the entire funnel

4. Simple steps to make social media an ROI positive channel

5. Measuring ROI from your social efforts to prove its value

6. Demo of Socedo

Social Media ROI is Elusive

Demand Metric 2016 State of Social Media Marketing Survey, Aug. 2016, n=275

B2B marketers are still using a playbook designed for B2C

Why is Social Media ROI is Hard?

Broadcast Marketing Direct Marketing

What happens when a team takes a demand gen mindset to social media?

Events

CommunitiesLocation

Interests

PublicationsJob Title

Start With Your Target Audience

72% of all web users are active on social media

46% look to social media when making purchases

63% use social media as a primary source of information

Your Leads Are Out There

(Jeff Bullas, “22 Social Media Facts and Statistics You Should Know in 2014” http://www.jeffbullas.com)

(“2014 Statistics and Trends for Businesses on Social Media” https://www.marketingtechblog.com)

(Pew Research Center, “The Evolving Role of News on Twitter and Facebook”)

Prospect Insights from Twitter

Real-time updates:• Events• Conversations• Pain-points

Job title

Interests

Community

Location

DiscoverA company looking for startups and early-stage tech companies used this criteria...

...and found over 5,500 leads on Twitter

Twitter handles

Industry keywords

Event hashtags

Light Touch(follow, like post)

Engage with prospects on their terms

Medium Touch(direct message, comment)

Heavy Touch(phone call, email conversation)

Natural Flow of Engagement

Follow up with social leadsConnect your social media investment to your systems of record.

How Social Impacts the Marketing Funnel

Find qualified leads on Twitter based on social activity and profile demographicsProspect

Active Interest

MQLSQL

Follow prospects and like a relevant post. Interested prospects will follow back.

Send a direct message with a link to your gated content. Sync qualified leads directly into your marketing automation system

Enhance lead records with social media activity, enabling lead scoring, lead nurturing & relevant messaging

•Lead Nurturing

•Lead Scoring

•Re-engaging with cold leads

•Pipeline acceleration

What is your demand generation team already doing?

Lead Nurturing

Social media provides another channel for lead nurturing

Near 80% of marketers say that their email open rates don’t exceed 20% (The State of B2B lead Nurturing Survey, Oracle)

Social media activities = Audience Insights

Use social insights to develop lead nurture programs

Interests Industry influencers

Research questions

Industry Events

Social activity data = real-time buying signals

● A click on a social post = a click in an email campaign or a paid ad

● A retweet = an endorsement of your content

● A follow = a proactive step to subscribe to your content = a blog subscriber

● A direct message reply = an email reply / a webinar register

● Followers of influencers in your space are good leads

Use social data for accurate lead scoring

Example:

• Leads who haven’t visited your website in last two weeks

• No emails opened in last 30 days

• Mentioned relevant keywords related to your product space in last 7 days

Re-engage with cold leads on social

Steps to Make Social Media an ROI positive Channel

Align on Strategy

Define the initial use

case

Step 1 Step 2 Step 4

Define your KPIs

Measure ROI

Step 5

Adopt Technology

Step 3

1. Align on Strategy & Goals

Key metrics: -CPL/CAC -Number of new leads from social -Number of MQLs -Funnel velocity -Revenue generated

2. Define Your KPIs

-How do I target my audience?-What content do I want to drive prospects to? -What do I want my prospect to do? -How do I want to follow up with these leads?

3. Come up with the initial use case

Look for these capabilities: -Targeting: How does the solution enable you to define your target

audience?

-Engagement workflow: how does it qualify your prospects?

-A/B testing capabilities: Can you A/B test your messaging?

-Integration with marketing automation and CRM systems

-Reports/Insights: can you see campaign performance?

4. Adopt technology to scale your effort

5. Measure ROI

Simple Approach: The Comparative Cost Approach

Example from a current Socedo Customer

5. Measure ROI

Advanced Approach: Revenue Contribution

• How much revenue is generated from social leads? • Find the weighted/influenced revenue from social • Find the cost spent on social in the same time period

ROI (%) = (revenue – cost) / cost * 100

Other comparisons to make: • Average revenue per customer by channel, social versus other

channels • Conversion rate (MQL to customer) by channel, social versus other

channels

Socedo Demo

Learn more at blog.socedo.com

Questions?