It’s Time for B2B Social Media Marketing to Generate Leads

A B2B Voices Q&A  With Kipp Bodnar and Jeffrey L. Cohen

I just finished reading The B2B Social Media Book: Becoming a Marketing Superstar, by Kipp Bodnar (day job at HubSpot) and Jeffrey L. Cohen (day job at Radian6), hot off the presses this month. I recommend it. Despite the title, it doesn’t try to encompass everything you need to know about B2B social media marketing.  Rather, it tries to open the lock box to social media lead generation. Frankly, that’s the way we’re going to get a lot of B2B companies to start to take social media more seriously.

I’ll follow up with a longer review but I had a chance to ask Kipp and Jeffrey a few questions after reading the book, and here’s what they had to say!

Aaron:  You both obviously have a lot of passion for B2B marketing in general, and social media specifically. Why? Where did that come from?

Kipp: It is what I have always done. Since the beginning of my career I have worked with B2B companies mostly at marketing agencies and then here at HubSpot. I love the challenge of B2B. B2B marketing is the ultimate in problem-solving and storytelling. It is awesome.

Jeff: I, too, have always worked for B2B companies, including marketing agencies that focused on B2B and companies that sold through distribution. It is more exciting to live in a world where the product quality and company knowledge are the basis of a sale, rather than the correct Pantone color. The longer sales cycles require companies to build customer relationships that can be nurtured, rather than offering promotions and discounts.

Aaron: What is most misunderstood about B2B social media marketing?

Kipp: For me it is reach. In traditional marketing, B2B companies obsessed over narrow targeting because executing marketing tactics was expensive. Social media has changed this. Narrow targeting hurts B2B companies online. Bigger reach is needed to generate word-of-mouth and leads online. Even if a social media follow isn’t a potential fit as a customer, they have the opportunity to share your content with someone who is, but this is impossible to predict. Thus the need to actively build reach online. 

Jeff: The notion that social media marketing is a business-to-consumer-only activity is most misunderstood. Many conservative B2B companies think that just because there is less volume of conversation around their company, products and industry, that social media is not for them. This ignores the benefits that social media brings to search, and the ability to leverage and share the knowledge and expertise imbedded in B2B companies to build and nurture relationships required for lead generation. 

Aaron:  Why the intense focus on lead generation in the book?

Kipp: Lead generation is the genesis of B2B success. Marketing must generate leads and revenue to survive. Yes, branding, public relations and other aspects of marketing are important, but they can’t compensate for the lack of a solid lead generation strategy. If lead generation is sound, all of those other aspects of marketing can supercharge it. 

Jeff: We know that social media adoption is very slow for B2B companies, no matter what online surveys say. We chose this important slice of social media activity, lead generation, because when success, it demonstrates real value of social media. It is much easier for C-Suite executives to endorse rolling out social media across an organization if it has already generated revenue through this one approach.

Aaron: I especially liked your more integrated focus on bringing prospective customers along a path from initial reach to signing on for content (like liking a page) to ultimately responding to a call to action and becoming a lead. Give us an example or two of who does that well.

Kipp: Breaking Point Systems down in Austin, TX is crushing it. They sell network testing equipment, which is a high-consideration and long buying cycle B2B purchase. We featured their vice president of marketing, Pam O’Neil, in the book. They have an awesome blog, a website that is super SEO-optimized and a social media presence that is engaging and drives traffic and leads back to the website.  Pam told us that they have a 2800% ROI from their online leads. 

Clear Risk is a finical services company in Canada that is also doing a great job. They have an awesome Facebook page, Twitter page, LinkedIn Page, blog as well as a calls-to-actions and lead generation offers. 

Aaron:  What about nurturing existing customers?  Private B2B communities are big in some industry segments like enterprise software, for instance, but this seemed to be less of a focus in this book. Why?

Kipp: Honestly, that is another book. You’re right. Lead nurturing as well as customer retention is huge revenue-centric application for social media. We just didn’t have the real estate to cover it properly in The B2B Social Media Book, so we decided to save it for another one. We think that having a solid customer generation strategy is the right first step, and too many companies still need to improve that. Lead nurturing is the next step.

B2B Companies Need to Be Prepared for Crises Too

I attended a Minnesota Business Marketing Association breakfast yesterday that served as a reminder that crises can happen to B2B companies too, not just cruise ships. Unpleasant things happen – planes with executives crash, workers strike, products fail, plants close, tornadoes strike.

The speakers were Jon Austin, former spokesperson for Northwest Airlines and now with his own firm, and Paul Omodt, VP at Padilla Speer Beardsley and a former PR person for the Northwest chapter of the Air Line Pilots Association. When I was in college in the Twin Cities, I saw Austin in the local media more than I saw the White House press secretary. You can imagine the issues they had to deal with.

Jon Austin at Minnesota BMA on Crisis Preparedness for B2B

Here’s the quick takeaways:

First, yes you probably need some kind of crisis plan, even as a B2B company. Think of Arthur Anderson.  Respected, in business for like a hundred years, and then thanks to the Enron collapse, out of business in the blink of an eye. Austin noted that what killed Arthur Anderson was not the lawsuits filed, because those took 10 years to get through the courts. Instead, in the first month or two after the Enron collapse, they had clients calling them up say, “We love you guys and know you didn’t have anything to do with what came down in Houston, but we just can’t have you signing off on our financial statements.” Reputation damage killed them.

As Austin put it: “Dinosaurs were pretty dominant at one time, and now they’re pretty damn dead.” Don’t be a dinosaur.

Second, drill on crisis plans. It’s time-consuming to put these things together and it can be a relief just to finish but without practicing their implementation, they are still likely to fail you. For one thing, people panic. Is this a crisis?  Do I really pull the trigger on this plan now?  Practice makes them comfortable. Second, it’s a great way to learn if it really works, if the roles are all covered. You don’t want to find out you haven’t adequately prepared for the likely contingency that your CEO will be oversees, your phone system will be swamped, and your email wil be down. It’s a chance to be comfortable with the plan and identify any weak spots in it.

Remember 9/11? Austin was with Fleishman-Hillard by then, working on the United Airlines account. The crisis plan called for flying all the key crisis team members to Chicago as a central coordination point. The team hadn’t considered the possibility that U.S. airspace could be completely closed down. Fortunately, Austin was able to drive to Chicago from Minneapolis, but you can bet all those airlines learned from that experience.

The more realistic the rehearsal the better. We have a great product offering that I’ve written about before called Firebell  for drilling on a crisis. The strength of Firebell is it’s been designed to simulate a crisis on a social world, letting you see not only what happens on the local TV news but also what happens on your Twitter account, Facebook and other social channels. (blog post on it or email me)

Finally, keep the plan refreshed. A reorg can eliminate a team of people important to executing the plan. New products are developed and old ones are sunsetted. New markets are entered. Crises are not viewed the same all over the world.

Interesting comment from Omodt – some insurance companies will lower your company’s premiums if they know you have an effective and up-to-date crisis plan in place – something to look into.

In closing, says Austin: “Be a mammal. Don’t be a dinosaur.”

Digital on the Rise in B2B, But Audience Engagement Lags

Recent research from Forrester has good news and bad news, from my perspective. On the one hand, Tracy Stokes, in “Marketing Budgets for 2012 Expose a Fear of Commitment,” notes that B2B marketers are moving to digital even faster than their B2C counterparts. Unfortunately, how they are doing so seems to be putting immediate gratification (i.e. leads) over the kind of richer relationship-building enabled by social media and creative digital programming.

First, the good news. According to Forrester’s research, which I would treat as directional rather than quantitative because of its small sample size, more than half of B2B marketing leaders see an economic recovery in their industry next year, compared to less than a third of B2C marketing leaders. Also, digital media now comprises 28% of B2B marketers’ budgets, ahead of their B2C counterparts (22%).

Are you investing in the long-term relationship?

Wow, right? Except what are they spending it on? Not innovation, which is expected to be cut in half from an already small base. Not brand building. Not relationship building. Transactions. Or at least that’s where the emphasis is.

I understand, I’m empathetic, really.  If you don’t win today, there is no tomorrow. But that’s a little like the federal government cutting taxes to spur economic growth without a plan to address long-term deficits. Ultimately, there’s a nasty price to pay.  What are some of those costs? Here’s four:

  • Commoditization
  • Reduced customer loyalty
  • Declining pricing power
  • Reduced market focus

Ouch. As with everything in life, success is about finding a healthy balance of investment through the marketing funnel – and beyond it to nurture customer advocates too. I’ve been part of award-winning communications plans that piled heaps of interest into the top of the funnel only to be plugged up at the bottom, and that’s no good either. But we have great opportunities now to do build stronger B2B brands and increase customer and prospect engagement all while effectively driving sales.

Building an positive and engaged bond between your brand and your customer is a powerful defense against commoditization. Leveraging social media to improve product development and customer service grows advocates and reinforces loyalty. A real commitment to listening to customers through social channels is effective (and cost-effective) at reminding you what your brand really is all about, and what it’s not about, so the organization stays focused on where it can be most successful. Here’s to a digitally engaged 2012!

World-Class Social Practices for B2B Companies

One of the themes of my writing about social business in 2011 has been that it is time to move beyond experimenting (though don’t STOP experimenting) to pursue social business endeavors that are meant to drive real business value. You can imagine what that means for 2012.  It means if you are not doing this by now, you are probably falling behind your competitors.

So it’s worth keeping an eye out for what those competitors are doing, especially the best ones.  Weber Shandwick recently conducted a study in conjunction with Forbes Insights to identify what makes brands social – and how. What was particularly noteworthy about the online survey (which was fielded this spring) was its global scope – 1,897 senior executives from larger companies across 50 countries in North America, Europe, Afria, the Middle East, Asia Pacific and Latin America. Executives were selected because their roles put them on the front lines of “brand sociability.”

From this, we were able to highlight what the industry leaders’ practices were compared to the average respondent. We called it the 9 Drivers of World-Class Sociability. You can read a full white paper on it here (and check out the infographic at the end), but I thought I’d pull out three of the drivers that have more resonance to B2B companies:

1. It’s Not the Medium, and It’s More Than the Message. It’s natural for us to get started in social and digital channels being enamored with the channels themselves. Do we need a corporate blog? Or Twitter? Should we try to build a LinkedIn community?  But the use of social channels has become so ubiquitous that it’s no longer notable whether you are using them but HOW you are using them. The message part speaks to the fact that one of the keys to that how is to focus on original content specifically for social channels. Forty-five percent of world-class companies do this, compared to only 28% of global companies in general. This is not necessarily easy or cheap but it is unquestionably the way you break through. I keep coming back to Cisco’s The Network as the B2B gold standard. They have editors as employees and a team of top journalists contributing articles to the site. They can pitch story ideas just like freelancers pitch magazines.

2. Listen More Than You Talk. And there is one audience in particular you should listen especially closely to – your customers. Social media can be great for this. World-class companies are 77 percent more likely to constantly monitor or research their fan pages to determine what their customers want from them than other global companies, and are nearly twice as likely to have changed a product or service based on specific recommendations from social network fans. If you are a B2B company with a big brand presence, like Oracle in enterprise tech or Intuit in SMB, you might be able to do much of that listening in public social channels. On the other hand, you can also construct an online community for your customers so they can better connect with each other and you can harvest product and service ideas more intensively. FICO has done this for some of its enterprise offering quite effectively leveraging a cloud platform, providing a user-conference feel all year round. But ask your customers first where they go to exchange ideas and information before embarking on such a project. It’s much easier to go where your customers already are.

3. Count What Matters – Meaningful Engagement. Business-to-business marketers know it’s about effectively reaching the right high-value customers and building deep relationships with them, and not about reaching a million poorly targeted people. After that trade show, you don’t treat every lead the same. It’s no different on social channels. It’s one thing to get someone to follow you. It’s another thing entirely for them to engage with you in a way that demonstrates either brand loyalty if they are an existing customer or readiness to buy if they are a prospect. We need to focus a lot more on these folks. And keep in mind that metrics can be very misleading because a highly respected influencer writing a positive blog post is a lot more valuable to you than a similar post from someone with little credibility.

Of course, that’s not an excuse to avoid metrics but emphasize those that point to engagement and ultimately ROI. World-class companies, for instance, are much more likely to use the number of contributors to their online communities as a key metric, not just page views. They are more likely to look for ways to measure revenue contribution, sales conversion, reduced call volume and other metrics that point more closely to ROI. The average global company still relies primarily on page views.

Enjoy the infographic.

Based on a study by Weber Shandwick and Forbes Insight

Content Curation: What Does it Take To Be Successful?

WebProNews had a little Q&A with Kate, the Executive Director of Digital and Social Media at Syracuse University and Chair of Other Side Group about content curation on the web. Sh’ll be giving a talk on this subject at BlogWorld LA this Thursday, but WPN decided to pick her brain ahead of the talk, as this subject is one that only continues to become more important to the web as consumers are bombarded with endless information from so many different web channels.

You can catch the full interview here. Some of the questions covered:

  1. What does it take to be successful in content curation?
  2. What are the best tools available right now for content curation and why?
  3. Who is doing content curation right now?
  4. Who is doing it wrong?
  5. What are the boundaries of fair use?
  6. Do consumers care if they’re obtaining information from the original source?

Content Fusion: How Stories Are Shared in a Social World

It’s become apparent for some time in the world of professional communicators that traditional ways of thinking about how we package and share content – or, stories, if you will – are inadequate for the Web. One of the very best videos to articulate the problem, Web 2.0 … The Machine is Us/ing Us, is now several years old. It also pointed to the solution.

Issues: Online, people simply do not consume much of their information in linear form in a singular format in a singular vehicle the way that you might have consumed a traditional printed newspaper or sat down and watched the network evening news on television. Hypertext destroyed linearity, encouraging us to jump from story to story and to share stories more easily with each other. XML separated the form of a page from the content of a page, which meant that suddenly content could be syndicated in many places and be presented differently in each place. Witness Flipboard. Social media growth means most often the content I consume comes from friends or organizations I trust rather than traditional news sources, even if it was nevertheless created by those traditional sources.

Weber Shandwick, my agency, has introduced a new model for online storytellers, which every organization should consider themselves to be. It’s called Content Fusion, and it harnesses and works with this new freedom to separate content from format and channel.

Here’s the way to think about it: Every company has stories. Think about the stories you have to tell first.

Then, think about format. Some stories are better suited to text, some to video, photos, audio, or some combination.

Then choose content vehicles. Only now do we start to say, “Should this be a news release?” Or a white paper, a blog post, a podcast, a presentation… Probably a combination, because different people respond differently to different content vehicles.

Okay, now consider communications channels. They may be branded channels, like your website. They may be “earned” channels like the opportunity to place your story with traditional media, online or off. They may “shared” channels like Facebook, where you have some control, but you share it with your audiences.

Finally, prepare for and encourage conversation. Not only do your stories travel farther when shared by others (witness the power of “friends of friends” on Facebook), but they carry more credibility. Plus, the content can be reshaped in new and unexpected, mashed-up ways.

Watch the YouTube video and tell me what you think.

Social Influence Matters! No, It Doesn’t!

There’s a growing debate on the relevance of social influence. From services like Klout to the Social Business Index, everyone seems to be discussing either how to measure influence or how to be influential. As Paul Colligan asks, “Does any of this matter?” We decided to join the discussion and look at it from a B2B brand perspective.

This discussion around thought leadership and influence does matter as Eloqua reminds us.

The battle for social influence

But I’d like to shift the question. Not the debate. Rather than ask “How can we be influential?” the better question to ask is, “What are we trying to achieve?” If you can start to think about it from this perspective you may find that you will be closer to your answer around influence than you think. And when we look at influence we really are talking about achieving one of three options — create awareness, educate or change opinions. You may focus on one or any combination of these, but it comes down to choosing one of these.

As you think about how your B2B brand can be influential here are some thoughts to consider.

From a B2B perspective, one of the biggest obstacles with social influence metrics is that they are focused on consumer and retail brands. So from the start, those numbers mostly become popularity contests. However, if you can use a service like Klout to identify the people who talk about your B2B service/product you can help further narrow the prospects of who you want to talk with. My suggestion is stop focusing on the top people/brands overall. They more than likely won’t matter to you. What you need to research are the topics you want to discuss and then find out who you need to follow and engage.

Don’t focus on the obvious numbers thrown out at you — number of Twitter followers, number of Facebook likes, etc. Those number are meaningless for the most part. What you need to do is find and implement a measurement system, which means making a time and money investment.

What we need to realize is that this discussion around social influence is new, and I believe we need more people talking about the topic and more debate about social influence. We also can’t ignore influence in the non-social world. That still matters more these days by building relationships and gaining access to the right people. Don’t be blind and just focus on social. Remember that there are still plenty of organizations and people who are influential and not active on social networks, so while social is growing in importance it is one piece of the puzzle.

But the key to all of this discussion remains that being influential must be defined by you. Not others. So while you can’t ignore the concept, you should may want to ignore all of the rhetoric around the offerings. In the end, it may all come down to content anyway, but that’s a discussion for another post.

Here are some recent stories from around the web on this subject:

Klout has raised ~ $30 million – Business Insider

Klout tries to adjust your influence…again – PR Breakfast Club

Do we need a social index for businesses? – B2B Voices

What is Klout really about? – KD Paine

Julio Ojeda-Zapata Talks Tech at MN Blogger Conference

I actually caught two sessions from Julio Ojeda-Zapata today, who is a pretty well-known techie here in the Twin Cities as a reporter and columnist for the St. Paul Pioneer Press and an author (fellow attendee recommends iPad Means Business). First one was on Posterous and the second on mobile blogging in general.

Posterous is great for making seamless blogging of lots of different content formats as easy as possible. Worth noting today that there are some notable restrictions on commercial use of it, like no ads allowed, however. (sounds like Tumblr doesn’t have these rules) interestingly, Julio notes that Guy Kawasaki, who is a Posterous investor, uses some sort of form of Posterous for his Holy Kaw! site, which does do advertising and some other things Posterous doesn’t do. I’d say it will get more commercial friendly so they can make some money.

He also reviewed tons of mobile blogging and related apps for us (iPad and iPhone only). A few from, as he says, “completely crap to awesome,” (admitted overstatement for effect):

* Blogger: Not optimized for iPad. Very basic blogging, there isn’t a lot of flexibility, very dumbed down.
* Tumblr: not optimized for iPad. Quick posts work just fine. Dashboard well done for handling different format types. Easy but limited.
* Tumbleroo: Watched it just crash. iPad optimized. Can send to twitter. Because it’s for tumblr, you can schedule posts. Crashed again. Hmm.
* WordPress: Hugely popular blog platform and the one we use here. App is optimized for iPad. Blog management features. Oops, just crashed. Still limited flexibility for basic posts.
* Blogger+ starts to get more interesting. Ugly interface, a little more flexibility. Can publish to multiple platforms. Weird thing is just that you have to create separate containers for text, for images, etc. But overall a richer experience.
* Blogbooster is not optimized for iPad but awesome for iPhone. Clearly gives title and description for photos, can use a slider to set image size. Supports many different blogging platforms.
* Blogpress supports many platforms, and is optimized for iPad. Button to assign location is nice. Automatically adds this line: “Posted using blogpress from my iPad,” so need to delete that. When you click and hold on an image it opens up a bunch of options for formatting. For instance, You can wrap text around phot, which you can’t on a lot of mobile apps. Can assign a URL to the photo. Also asks if you want to notify your Facebook friends.
* Blogsy Is a favorite, supporting WordPress, Blogger, and Posterous. Buttons on the right let you pull in images from flickr, favorites, image sites. You can drag the image into the post and then move it where in the post you want it. Pull in videos. You can search for assets from within the app. Only weird thing is you can’t type on rich text side, have to go to the HTML side.
* Posterous app: Remarkably flexible in redirecting your content, very easy to post images. Can repost to other blog platforms. Seamless effortless, frictionless blogging.

Squarespace got the nod for the ultimate iPad blogging app. Close to a laptop replacement. Very nice look at your blog stats. You can Go as far as you can to use your mobile device as a creation device, not just a consumption device. Note the iPhone app is distinctively different.

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Live from Minnesota Blogger Conference

Well we are through the morning keynote by Lee Odden and the first breakout session at the Minnesota Blogger Conference at Allina Commons in Minneapolis. Not surprisingly, Arik Hanson and his colleagues have put on a really nice event here.

My mission has been to find out what we can do here to make our b2b blogs better.

So far, I have in fact picked up some great ideas along with some things to maybe experiment with.

So 3 things to start:
1. Content is King but Creativity is Queen: From Lee Odden of Top Rank Blog fame. What this means for me is that yes we must take our substance seriously, but it can be so much more impactful if cleverly conveyed. Which leads to …
2. Lots More Visuals: I attended a session on Tumblr, which has really been breakthrough in making posting lots of different formats easier. The expert, Patrick Rhone (his most popular site is Minimal Mac) describes it more as a clever content curation platform than blogging platform but I think those lines can get blurry. I have some concerns about the reliability of the platform, especially on Internet Explorer, after watching, oh, about ten crashes, but it has a lot of promise and you can bet WordPress is learning from Tumblr’s growing popularity too.
3. To Stand Out, Stand for Something: From Lee Odden again. This may be obvious but I do think it’s hard to keep a good focus on one domain so you really stand out in that domain. There’s just too much competition out there to be everything. You can always add another blog.

I’ll try to post again here.

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What Google’s Acquisition of Motorola Mobility Means for Marketers

Much has already been written about how Google’s acquisition of Motorola Mobility might shake up the mobile device market, reshape the Apple vs. Android battle or even redefine the patent landscape.

Courtesy Google

To me, it’s a signal to marketers, including B2B marketers, that it is most definitely time to have a mobile strategy.

Google is offering, what, $12.5 billion in CASH. If the folks in the Googleplex are willing to risk that much in liquid assets, it’s because they expect A LOT of people to do a lot more with mobile devices than they’re even doing already.

By coincidence, last Thursday, I got to hear Dan Grigsby, the founding partner of Drivetrain, and Anders Davidson, the CEO of MobileOn Services, speak to our local Business Marketing Association meeting about mobile marketing. Grigsby was a Minneapolis-St. Paul “40 Under 40,” was one of “MPLS/St. Paul Magazine’s 75 Best Brains,” and his firm just developed the (Minneapolis) Star Tribune’s new iPad app.

Grigsby compares where we’re at with mobile right now to the early days of the Web. The companies that were really leveraging the Web were inherently Internet-driven outfits like Netscape or Cisco or Yahoo.  But now, every single company needs to be on the Web in some capacity. We’re now just starting to enter that mass adoption phase for mobile.  And increasingly, that means tablets, not just phones. In fact, Grigsby claims that by the end of the year, there will be more iPads in the U.S. than iPhones.

Courtesy Apple

Davidson’s firm developed a platform called BuildAnApp that is designed to make it easy and affordable for small businesses and non-profits to develop their own mobile applications. He observes that nearly 50 percent of companies today have neither a mobile site nor a mobile app. His message? Your mobile device “may be a small computer, but it’s not a mini-PC.” As you start to think about just how you’ll participate in the mobile web, remember that people don’t use these devices the same way.

For example, people tend to be more task-oriented on their mobile devices. “Nobody cares about your ‘About Us’ section in the mobile app, or your company history,” he observes. They’re looking to get something done.

Another suggestion: Find the right tool for the right objectives. Davidson offered a B2C example: If you’re a pizza place targeting travelers near the airport, you’re going to want a mobile website. If you’re a pizza joint targeting neighborhood regulars, you just might consider an app.

Grigsby reminded the audience that your customers may already be assuming you have a mobile app, and that might well drive your prioritization. He said 1,000 people downloaded the new Star Tribune app from the iTunes App Store before they even announced it was available. Those 1,000 people simply assumed there was one.  Which means the day before that, 1,000 other people tried and failed to find one, and the week before that, 7,000 people tried and failed to find one. What do your customers expect from you?

Given the richer relationships B2B marketers are often seeking with customers than their more typically  high-volume B2C counterparts, I see lots of mobile app opportunities here and I also see a need for greater personalization. There’s certainly more to be done than simply outfitting the sales force with iPad-friendly presentation decks. More to come, I’m sure.

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