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Destroying the 7 Myths of B2B Social Media

Jay Baer

@jaybaer

Myth #1:

My Customers Don’t Use Social Media

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You Are Not Your Customer

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81% of U.S. Online Adults Use Social Media

*Forrester

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Prove It With Social Anthropology

Gist.com Rapportive.com

Myth #2:

Social Media Isn’t Worth the Trouble for B2B

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B2B Customers Use Social

86% of business technology buyers engage in some form of social activity for work purposes.

*Forrester

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Social Media is More Important for B2B

• Fewer overall customers • Considered purchases • Visibility in funnel • Importance of sales reps

Social provides touch points

between official CRM campaign

elements

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Impact of Search on Lead Generation

Consumers exposed to a

brand in social are 2.8x more likely to search

*GroupM Search

Myth #3:

How B2C Uses Social Media Doesn’t Apply

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Social Media Reality Check

• Do you have customers? • Do you have prospective customers? • Do you have employees? • Do you have competitors? • Do you have a story to tell?

Congratulations! You have the raw

materials for social media.

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Key Process = Same for B2B and B2C

Harvest stories

about your company and

customers

Storytelling humanizes company

Humanization creates kinship

Kinship drives

purchase from new

and existing customers

Customers create more stories for harvesting

Social Media Success Process

Repeat

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Social Media Strategy = Same for B2B and B2C

• Awareness? • Sales? • Loyalty?

The only difference

between B2B and B2C is

certain tactics

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We’re All Using the Big 4

Social Media Site Usage by Organization Type

*MarketingProfs

Myth #4:

If Nobody Tweets About Us, We Don’t Need Social Media

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Give Them Something to Talk About

Content Marketing Necessity Scale

Amount of chatter about your company in social media

Need for your company to create and optimize

social content

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Social Without Content is a One-Legged Stool

Content Marketing Usage by Tactic

*MarketingSherpa

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Map Content to Taxonomy

Services

Consulting

Staffing

Solutions

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Map Content to Taxonomy Recipes Mango Corn Bean Verde

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Graphic coming

B2B customers are ready to

speak to sales only after

gathering 60% of necessary info

Map Content to Sales Cycle

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Your Content Elsewhere

Centralized and Decentralized Content

Your Content on Your Website

Those Who Know You Those Who Don’t Yet

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Be a Digital Dandelion

Think small!

Myth #5:

Having a “Page” is a Sufficient Social Media Strategy

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This is Not a Blood Oath

87% of B2B companies are using Facebook

or LinkedIn pages

*MarketingSherpa

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Realities of the News Feed

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Focus on Being Social, Not Doing Social

Share of Search

circa 1999

Myth #6:

Social Media is Just Marketing

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Answer the Social Telephone

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Customer Service to the Outraged

Fewer than 1% of Twitter users

turn to Twitter as first customer

service contact.

*ExactTarget

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Set Expectations

70% of customer complaints on

Twitter go unanswered

*Maritz

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The Decision May Not Be Yours

Myth #7:

Social Media isn’t Measurable

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What “It Isn’t Measurable” Really Means:

• We don’t know what to measure • We don’t have access to the right data • We don’t know how to tie data together • We don’t have the time to measure well • We don’t know what the data means 64% of B2B

marketers use Web traffic

generation as #1 social media

metric

*eMarketer

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Social Media-Only Offers

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Lead Generation

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Lifetime Customer Value

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Net Promoter Score

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ROI of Programs

40 hours/month to produce blog x hourly rate per each blogger ($40)

x overhead factor (50%)

+ amortized design fees ($1,000/month)

+ monthly hosting fees ($100)

+ monthly add-ons ($100)

____________________________ = monthly true blogging costs ($3,600)

25 leads/month x conversion rate (20%)

x avg. lifetime customer value ($3000)

x profit margin (30%)

____________________________ = monthly true blogging revenue ($4,500)

ROI = Revenue – Investment/Investment

$4,500 - $3,600 / $3,600 = 25% ROI

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Correlation

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Share Your Scoreboard

7 Myths: • My Customers Don’t Use Social Media

• Social Media Isn’t Worth the Trouble for B2B

• How B2C Uses Social Media Doesn’t Apply

• If Nobody Tweets About Us, We Don’t Need

Social Media

• Having a “Page” is Sufficient

• Social Media is Just Marketing

• Social Media Isn’t Measurable

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Destroy!

Jay Baer www.convinceandconvert.com www.jaybaer.com