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@ericschwartzman # PRSAIcom ROI of B2B Social Media Eric Schwartzman, coauthor Social Marke6ng to the Business Customer

ROI of B2B Social Media

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Eric Schwartzman (http://ericschwartzman.com) delivers a session on the ROI of B2B Social Media at the PRSA International Conference in Orlando on Oct. 17, 2011

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Page 1: ROI of B2B Social Media

@ericschwartzman  #PRSAIcom  

ROI  of  B2B  Social  Media  

Eric  Schwartzman,  coauthor    

“Social  Marke6ng  to  the  Business  Customer”  

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@ericschwartzman  #PRSAIcom  

What’s  the  ROI?  

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Intangible  Assets  Have  Real  Value  

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Expenses  vs.  Assets  

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Print  

Phone  

On  Air  

Digital  

On  Demand  

Social  Networks  

5  

Digital  Breadcrumbs:  Discoverable  and  Shareable  

2  Types  of  Return…  

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Your  Expert  Answering  Ques6ons,  Selling  or  Improving  the  Customer  Experience  

MP3    Podcast  

Text  Transcript    Blog  Post  

PowerPoint    SlideShare  

Video    Webcast  &  YouTube  

Archived  OrganizaPonal  Intelligence  is  an  Asset  

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Intangibles  of  Velocity  and  ProducPvity  

Case  Study:  hOp://ontherecordpodcast.com/chaOer    

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ROI  of  Social  Business  8  

•  73  blogs  

•  17  bloggers  

•  600%  jump  in  leads  

•  Top  quality  

Case  Study:  hOp://ontherecordpodcast.com/emerson    

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Not  Only  Do  Blogs  Work  Best  in  B2B…  

2011  State  of  Inbound  Marke6ng  Study  

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Blogs  are  also  Least  Expensive  

2011  State  of  Inbound  Marke6ng  Study  

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Stay  Behind  the  Line!  11  

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Public  vs.  Private  12  

Resource:  www.SocialMediaPolicyTemplate.com    

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Control  Conversions,  not  the  Message  

The  first  step  was  to  add  blogs  and  message  boards  in  the  hope  that  irate  customers  will  talk  to  the  company  rather  than  gripe  to  the  whole  Internet.  "If  we  don't  do  that  at  Dell.com,  it's  going  to  be  on  CNET  or  somewhere,"  Michael  Dell  says.  "I'd  rather  have  that  conversa6on  in  my  living  room  than  in  somebody  else's."    

hVp://money.cnn.com/2008/09/03/technology/forV_dell.fortune/    

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Page  14  

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Page  15  7    Steps  to  Social  Media  ROI    

1.  Define  the  “R”  –  What  are  expected  results?  2.  Define  the  “I”    -­‐-­‐  What’s  the  investment?  3.  Understand  audiences  and  what  mo6vates  them    4.  Choose  metrics  5.  Choose  benchmarks    6.  Pick  a  tool  and  undertake  research  7.  Analyze  results,  glean  insight,  take  ac6on,  measure  

again  

Source: KD Paine & Partners

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Page  16  ROI  EquaPon  

ROI  =    COST  

(GAIN  -­‐  COST)  X  100  

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Sefng  Goals  

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$257  

$106  

$35  

$35  

$5  

$10  

$5  

$5  

$477  Per  Day        $14,310  per  month  

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ROI  of  Organic  Search  Traffic  

157%        =    $3000  

($7,710  -­‐  $3,000)  

ROI  =    COST  

(GAIN  -­‐  COST)  X  100  

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ROI  of  Social  Media  

$1694  

$499  

$208  

$326  $87  

$477  Per  Day        $14,310  per  month  

$410  

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Sefng  Funnels  

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Funnel  VisualizaPon  

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Intangible  B2B  Measure  to  Monitor  

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MulPvariate  Website  TesPng  

Source:  hOp://blog.op6mizely.com/how-­‐obama-­‐raised-­‐60-­‐million-­‐by-­‐running-­‐an-­‐exp    

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BuVon  VariaPons  

Source:  hOp://blog.op6mizely.com/how-­‐obama-­‐raised-­‐60-­‐million-­‐by-­‐running-­‐an-­‐exp    

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Media  VariaPons  

photos  

videos  

Source:  hOp://blog.op6mizely.com/how-­‐obama-­‐raised-­‐60-­‐million-­‐by-­‐running-­‐an-­‐exp    

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Sign  Up  Rates  by  Variant  

4  buOons  and  6  media  op6ons  

Source:  hOp://blog.op6mizely.com/how-­‐obama-­‐raised-­‐60-­‐million-­‐by-­‐running-­‐an-­‐exp    

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Sign  Up  Rates  by  CombinaPon  

4  buOons  x  6  media  op6ons  =  24  combina6ons  

Source:  hOp://blog.op6mizely.com/how-­‐obama-­‐raised-­‐60-­‐million-­‐by-­‐running-­‐an-­‐exp    

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Winning  Combo  

Source:  hOp://blog.op6mizely.com/how-­‐obama-­‐raised-­‐60-­‐million-­‐by-­‐running-­‐an-­‐exp    

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ROI  of  MulPvariate  Test  

Original  Sign-­‐Up  Rate    8.26%  

Winner  Sign-­‐Up  Rate    11.6%  

Increase  from  Test      40.6%  

Source:  hOp://blog.op6mizely.com/how-­‐obama-­‐raised-­‐60-­‐million-­‐by-­‐running-­‐an-­‐exp    

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ROI  of  MulPvariate  Test  

Campaign  Sign-­‐Ups    10,000,000  

Improvement  of…          2,880,000  

Source:  hOp://blog.op6mizely.com/how-­‐obama-­‐raised-­‐60-­‐million-­‐by-­‐running-­‐an-­‐exp    

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ROI  of  MulPvariate  Test  

2,880,000  addi6onal  email  addresses  collected  

10%  volunteered      288,000  more  volunteers  

Dona6on  per  visitor    $60  

Addi6onal  dona6ons      $60  x  2,880,000  =  $60,000    

Source:  hOp://blog.op6mizely.com/how-­‐obama-­‐raised-­‐60-­‐million-­‐by-­‐running-­‐an-­‐exp    

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Page  34  

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Beyond  Last  Click  AVribuPon  

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What’s  Next?    ROI  through  Social  Media  AnalyPcs  

Cairo  Speech   “Obama”  Peak   “Freedom”  Peak  

hOp://www.radian6.com/    

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But  It’s  Also  About  Lead  Nurturing  

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Phase  1  

•  Social  Media  Monitoring  •  Social  Media  Mapping  

Phase  2  

•  Social  Media  Par6cipa6on  •  Social  Media  Engagement    

Phase  3  

•  Social  Media  Management  •  Social  Media  Marke6ng  

Phase  4  •  Measure  and  Evaluate  the  Results  

Gefng  Started  with  B2B  Social  MarkePng  

38  

AcPvity   Tool  

Page 39: ROI of B2B Social Media

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Thank  You  

www.EricSchwartzman.com  

(310)  455-­‐4000  

@ericschwartzman  

www.B2BSocialMediaBook.com