Posts Tagged ‘Twitter’

Helping B2Bs Execute Social Media

Tuesday, February 15th, 2011

Content Strategy Provides a Social Media Roadmap

Successful execution of social media programs is an issue for SMB B2Bs, but it can be done. Post Four in our series is Content Strategy. This is timely in that I’m doing just that – developing a Information Structure 300x225 Helping B2Bs Execute Social Mediacontent strategy and a blog post (editorial) calendar for a client this week. They didn’t understand the need for this step. I convinced them that what seems like an additional task will actually save significant time and effort over the long run. It is SO MUCH easier to come up with useful and relevant content each week when you’ve taken the time to map it out up front.

Development of a content strategy plays a key role in successful execution of a social media program. Whether you communicate to your audience via a blog, Twitter or social networking sites like LinkedIn, the only true way to build relationships with a growing network is to listen, engage and provide content they find valuable.

Capturing insight about your audience in a social media context can be accomplished through:

  • Participation in appropriate online discussion groups,
  • Social media monitoring tools, and
  • Surveys and polls.

If the objective for your social media efforts is to sell more products and services, become a resource to help your audience make smart buying choices regarding configuration and integration. Give them information re how to leverage your products and services in ways that will make them heroes in their companies. Give them information that’s relevant and useful to them in their business. Over time your knowledge and tools will help them accomplish their goals and, in turn, they’ll see your company as a valuable resource.

In this age of Web 2.0, those who are active in social media are essentially publishers. Content creation plays a key role in your social media strategy. One way to ensure you publish consistent, unique content that:

  1. speaks compellingly to your target audience,
  2. extends and amplifies your marketing messaging, and
  3. aligns with your target keyword concepts;

is to create an editorial calendar. Social media publishing platforms like blogs can use content schedules (aka editorial calendars) to serve as a guide and keep messaging aligned with your overall content strategy.

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User-Generated Content via Market Research

Tuesday, January 18th, 2011

This is the third post in a series devoted to a pervasive problem experienced by SMB B2B companies. That problem is successful execution of their social media strategies. The best social media strategy on the planet is worthless if it isn’t implemented. The most difficult piece to execute for SMBs is the development of an ongoing stream of relevant and useful content. Poor quality content is cheap and easy to generate, but it does more harm than good.

In my last post, Getting Over the Social Media Content Hump, I listed all the ingredients of a successful social media campaign (that I could think of at the time). My intention is to take each of them – one per week – and delve deeper in an attempt to answer, “How can this facet of social media be leveraged to help develop and/or distribute quality, highly readable content.”

This week’s topic is Market Research.

Social media is a great tool for market research. You can research your clients and your competition, and improve your products and services via crowd sourced surveys. Knowing what your prospects and clients are saying, as well as what your competition is up to, is highly valuable in itself. Anticipating and validating product changes through social research, polls and surveys can be of extreme value. And these polls and surveys will also develop user-generated content.

Business Strategy Chart 300x199 User Generated Content via Market Research

This is a tactic that market research firms (e.g. Forrester, Frost & Sullivan, Gartner) have been using for decades. It’s no small task to develop a survey questionnaire that elicits valuable information, but there are consultants who specialize in this.

Can’t afford a consultant? Send an email around to your department heads: C-suite, Customer Service, Engineering, HR, Marketing, Product Management, Sales; and ask them for two or three market-related questions that each would love to have the answers to.

Then place these surveys on relevant sites like Facebook, Foursquare, LinkedIn, Twitter, and industry specific networking sites. The answers will give you a treasure trove of information that is, by definition, relevant and useful. The information came directly from your target audience!

Use this user-generated content to feed your blogs, group discussions, tweets, etc. And take another sheet from the research firms’ playbook – every year (or quarter, or month) update and re-post your polls and surveys. You’ll get more fodder for your content needs, and more up to date insight into the needs and wants of your clients and target market.

Beneficial side effects may include tighter alignment between your social media people and the rest of the company (and a new found respect for what social media can accomplish), and a closer digital relationship with customers and prospects. This blog post by Scott Frangos makes a crucial distinction between content and true connection (the kind needed to close high ticket B2B deals).

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Crucial Components for B2B Social Media Success

Sunday, August 29th, 2010

Success in B2B social media marketing is like success in every other endeavor. It requires thought, planning, time and effort. Your social media plan must:

Social Media Marketing2 258x300 Crucial Components for B2B Social Media Success

1. Include input from Sales. If you haven’t already, align Sales and Marketing. You can’t afford not to. Sales should be immersed in the conversations taking place with prospects offline. That information is critical to success in migrating, extending and amplifying those conversations online.

2. Be no longer than six months. You can’t plan beyond that. The conversations you need to be having with suspects, prospects and leads is influenced to a significant degree by the environment. Things change in a hurry. Your plan should define how you’ll adapt, not predict the future.

3. Develop and define target personas. Who are you trying to reach? What are their interests, needs and wants? If your content isn’t relevant and useful to that person; it won’t be consumed, remembered or acted on. You have to know, specifically, who you’re engaging in conversation. What’s relevant and useful to one person is irrelevant and useless to the next.

4. Include search engine optimization (SEO), link building, and probably paid search, too. Place your QUALITY content where your targets are congregating online; and take the extra step to PULL others to your blog and website. If they can’t find you on Google, you don’t exist.

5. Have a content strategy that doesn’t assume ‘existing resources’ will do the development. Beyond the strategy itself, this is the most important piece of the plan. Hire someone (either permanent staff or an outside consultant) as a dedicated resource… someone who is an expert at content development. That means not only an excellent copywriter, but one who has SEO skills, and one who understands how to deploy multimedia to communicate your messages quickly, clearly and persuasively.

6. Include distribution, outreach and socialization… the mechanics of how you’ll get your quality content in front of your target audience (which includes not only prospects, but influential people in your industry, in the blogging world, in the media, etc.); and give them the tools they need to comment and distribute.

7. Build in an analytics plan. List key performance indicators (KPIs). What are your goals? They should include traffic, blog comments, retweets, and conversions. This last, conversions, are where the rubber meets the road. What action(s) do you want your targets to take after consuming your content? That must be clearly defined up front. Google Analytics will give you reams of data for free. You don’t want reams of data. You want the half dozen or so stats that will give you a good idea of how well the plan is meeting its goals.

8. Serve existing customers. It’s easier to keep existing customers than it is to obtain new ones. Does your social media marketing plan lay out how you’ll keep your current customers informed and happy? Social media isn’t only a marketing tool. It’s also an excellent research, customer service and PR tool. Make sure your plan leverages it across all those departments.

9. Include Facebook along with Twitter, LinkedIn, and Foursquare. There are so many people on Facebook you’d be crazy not to try to reach .01% of them. Also look at niche social networks that may aggregate your targets. Once the content is developed, there are tools that automate the process of distributing to these platforms.

10. Follow through. After the content is distributed, you have to follow through. Your social networks must be monitored; and questions and comments must be answered. That’s the essence of  conversation. Listen.

11. Build your house list. It’s your most valuable marketing asset. Your plan should include integration of the various social media platforms into your Customer Relationship Management (CRM) system.

12. Include a feedback loop. You developed relevant and useful content for your target audience. You distributed it. You socialized it. You listened and gathered intelligence re what your target thinks of your messaging. You’ve seen which content drives traffic and conversions, and which doesn’t. Feed that information back into the plan. Tweak, and repeat.

13. Be reasonable. There’s a perception that social media is low cost. The price of admission is practically zero, but social media marketing is a process. It requires a significant investment of time. You must listen, participate, and converse over time. Budget money and other resources accordingly.

14. Do the math. The easiest way to check on #13 is to do the math. Your social media plan should put a dollar value on a customer, and provide a worst-case cost estimate for acquiring that customer. Your customer acquisition cost, using social media, should be no more than a few percentage points of the lifetime value of that customer. If it isn’t, something is wrong with either your plan or your pricing.

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Torturing Leads vs. Nurturing Leads

Tuesday, May 4th, 2010

I used to think the worst thing my clients did to qualified leads was to ignore them once they found out they weren’t ready to close this quarter (or even this month).

Complex, high-ticket B2B solutions have long sales cycles. If you have a qualified lead (they have the need, budget and authority), keep them engaged and nurtured. There are right and wrong ways to do this. I’ve seen clients waste time and money on what they think are ‘nurturing’ activities, only to end up with annoyed, tuned-out prospects.

Here’s my list of Lead Torture vs. Lead Nurture:Torture 150x150 Torturing Leads vs. Nurturing Leads

Lead Torture – calling leads just to ‘touch base’ (“Are you ready to buy yet? I need to make my quota.”). Lead Nurture – calling leads when you have something to talk about, something that is of interest to that individual. Having a valid business reason to make the call.

Lead Torture - Tweets about mundane or arcane (too techie) matters; salesy, obviously self-serving Answers and Discussions on LinkedIn; invitations to become a fan of your company page on Facebook. Lead Nurture - a thought through, coordinated social media plan that has an objective, is congruent across platforms, and consistently delivers interesting, meaningful and/or entertaining information.

Lead Torture – sending the same, tired brochure (or case study or white paper) over and over again. Lead Nurture – sending new, relevant and useful information on a regular basis (blogs are a great way to accomplish this AND improve your SEO at the same time).

Lead Torture – sending weekly emails, written by whichever technician wasn’t billed out at the time, containing technology feature dumps. Lead Nurture - sending a weekly email that curates news items from the Net; items that are of interest because they’re related to that prospect’s industry, business role, etc.

If you’re going to do it, do it right. Otherwise you’re training your leads to dismiss your messaging and your company.

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More Hard Evidence that Online B2B Marketing is Much More Cost Effective

Sunday, April 11th, 2010

UK marketing agency, Base One Group, commissioned a new research study in association with B2B Marketing Magazine. The study had a diverse industry profile including manufacturing, business services, financial services, public administration and healthcare. It was heavily weighted toward the purchasers of IT equipment and services in those industries.

Marketing collage 300x248 More Hard Evidence that Online B2B Marketing is Much More Cost EffectiveWhen B2B purchasers were seeking potential new suppliers, Twitter and blogs were considered  more influential sources of supplier information than any other channel, including word of mouth, seminars and industry press.

However, the most popular sources of information remain web searches and supplier websites. In fact, when asked how their information gathering behavior had changed, procurement professionals cited the greatest increased use of web searches (up 64%) and supplier websites (up 61%). Social networking sites Facebook and Twitter experienced 6% and 10% net increases respectively, and LinkedIn saw growth of 19%. Online videos/webinars/podcasts were also a strong source of information with an increase in usage of 36% – that coming off a small base, though.

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  • services sprite More Hard Evidence that Online B2B Marketing is Much More Cost Effective
  • services sprite More Hard Evidence that Online B2B Marketing is Much More Cost Effective
  • services sprite More Hard Evidence that Online B2B Marketing is Much More Cost Effective
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  • services sprite More Hard Evidence that Online B2B Marketing is Much More Cost Effective
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  • services sprite More Hard Evidence that Online B2B Marketing is Much More Cost Effective
  • services sprite More Hard Evidence that Online B2B Marketing is Much More Cost Effective
  • services sprite More Hard Evidence that Online B2B Marketing is Much More Cost Effective

Product Launch SWAT Team

Monday, February 15th, 2010

My last blog post introduced this series focused on launching a new product or service totally online. Product Launch SWAT teams are essential whether the launch is online, offline, or a combination of the two.

If a new product or service is important enough to build a launch, give the launch the resources it needs to be successful. SWAT team members should include people from Marketing, Product Management, Sales and Service/Support. Expect that these people will be devoting significant time to the launch effort, so make sure that they aren’t encumbered with too many other deliverables in the same time frame. Assume that half of their time will be devoted to the launch for approximately three months.

It’s essential that Sales be involved in every product launch in a meaningful way. That means at least one sales person will have to split time between roles. Reduce their quota for the duration of the launch. If you don’t, they’ll be busy making their number. The launch process will suffer and the ROI of the launch will be compromised.

You’re going to be tempted to put a junior sales person on the team to minimize the revenue loss. Don’t do it. Put the sales exec who’s going to be most affected by the new product on the team. Typically that will be somebody more senior, and somebody who will whole-heartedly contribute to the success of the launch.

Bruce Seidel is a B2B sales coach with a long history of success selling software. He wrote an excellent blog post regarding formal agreements between Marketing and Sales to ensure a successful new product launch. Read it. Copy it. Keep it someplace safe where you can access it when you need it. I did.

My next post will be about using social media (your blog, Facebook, LinkedIn, Twitter) to crowdsource the features, benefits, delivery model – even the name and branding of your new product or service (and to start a whisper campaign about it).

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Why Online Product Launches are Different, Better, Cheaper

Saturday, February 13th, 2010

As it happens, I’m in the midst of strategizing and planning new product launches for two clients and a new service launch for acSellerant. I’ve done several launches over the years, but this is the first time I’m doing them exclusively online. Traditional launches keep things a secret until the big launch day, then ‘Kaboom!’, a media blitz… and it’s over. Unless it’s Apple. Then people will continue to buzz about the product for months.

Alas, you’re not Apple, and I’m not Steve Jobs. That doesn’t mean we can’t pull off highly successful product launches, though.

Due to the tools we have available today, the research phase (which is an absolute must) can be combined with test marketing and some early promotion of the product.

The problem in developing successful new products is not a shortage of ideas, but the expense of bringing a new product to market without any guarantee of success. How much better to continually seek feedback from prospects along the way, and fine tune the product so you know it’s going to be a winner.

Research, Research, Research

Social media platforms like LinkedIn and Twitter constitute mind-boggling tools for accomplishing research on the fly with built-in feedback loops, and rock bottom pricing. Five years ago you’d have to pay tens or even hundreds of thousands of dollars for the information you can get at virtually zero cost today. Here’s the process:

  1. Determine who your best target customers are. “Everybody” is not an acceptable answer. Be as specific as possible. The better you know who you’re selling to, the better you can custom fit your product, and the more persuasive your marketing messages can be.
  2. Determine how you want to go to market. Are you going to produce the product in-house or outsource the production? Will you sell the product yourself or through resellers? If you’re going the partner route, thoroughly research potential partners to determine best fit.
  3. Market Research Phase:
    a. Research market size and potential.
    b. Interview end users, resellers and sales reps (you can do this via online polls on LinkedIn and Twitter, although you should also conduct some qualitative, in-depth interviews in person or over the phone).
  4. Analysis and Development of the Marketing Plan:
    a. Competitive Analysis – review competing products and how they stack up against your proposed product. If there aren’t any closely competing products, research how else people are solving the problem. If they aren’t solving the problem and they’re not suffering any pain, pull the plug. If they are suffering, but don’t realize they have a problem, you need to add in the overhead cost required to educate them.
    b. Evaluate the product’s Strengths, Weaknesses, Opportunities and Threats (SWOT). Develop a Proof of Concept so people can understand what it is and what it does. It’s OK to use smoke and mirrors, as long as you can build the real functionality when the time comes.
    c. Develop an Online Marketing Plan that leverages the unique capabilities of the Net. Successful online launches create a series of interactions with current customers, employees, prospects, suppliers, trade media, resellers and any other appropriate audiences.
  5. Execute the Plan and Launch the Product:
    a. Develop online (easily and inexpensively edited) collateral materials.
    b. Begin placement dialogues with the first step in the preferred channel.
    c. Have enough dialogues with enough different entities to uncover any previously undiscovered objections.
    d. Review and revise the Plan as necessary with the new information.
    e. Repeat until you’re satisfied you have market acceptance.
    f. Explore relationship extensions with partners.

I’ll come out with more details in shorter blog posts over the next several days.

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