Darin M. Reffitt, VP, Marketing Segment Manager – BNY Mellon Chair of IASA’s Social Media Subcommittee @dmreffitt on Twitter SOCI AL MEDI A AND YOUR SALESFORCE
Background Per a LinkedIn study released February 13, 2014 7 of “hyper of “hyper of Small and of SMBs using growth” growth” Medium sized social media are companies say companies said businesses doing so for social media social media (SMBs) are using marketing helped increase helped generate social media purposes brand awareness new leads
Background More things to consider: the number of of B2B buyers of B2B decision web or social started product makers think of CEOs do not media sources research on sales return cold buyers turn to social media or representatives emails or cold before making a other online are unprepared calls, per purchase communities in InsideView 1 for meetings, per decision 26 2012 26 SiriusDecisions 1
How Do B2B Decision Makers Use Social Media? Per 2013 Forrester Research, as quoted from KinetixMedia 14 : visit communities or forums that are NOT associated with a single brand or vendor at least once a month visit LinkedIn at least once a month visit Facebook at least once a month Use support or discussion forums & communities associated with a specific vendor or brand visit Twitter at least once a month Access Google+ at least once a month
The Combined Challenge More difficult Easier for to reach buyers to do decision makers their own research on solutions Greater adoption of social media by Buyers are 57% companies and individuals through their buying process before engaging with salespeople, according to the Corporate Executive A shift in sales Board 30 approach is required
Social Selling Definition: the use of social media to increase revenue and sales team productivity 25 . • • What it is: – Listening – Connecting – Engaging – Advising – Sharing “Before LinkedI n and other social – Monitoring networks, in the sales world, ABC • What it isn’t: stood for Always Be Closing. Now, – Pushing products ABC means Always Be Connecting, – Spamming because your connections lead to your next hire, your next job, your next lead, and your next close.” - Jill Rowley, Social Selling Evangelist at Oracle 30
Social Selling of B2B buyers are informing themselves about enterprise products and services through 3rd-party sources before consulting a vendor’s salesforce 31 of those say that these 3 rd party sources are a factor in their purchase decisions 31 “B2B buyers are shopping at work like they do at home.” –Avanade 31
On the Other Hand… • Traditionally, companies have limited access to social media by anyone other than Marketing or Communications • Perceived (and sometimes valid) brand risks limit the ability of the salesforce to post or share content if it’s seen as being on behalf of the company • Proper training is a better solution than denying access
General Strategies Listen • Prospect companies voluntarily deliver significant amounts of strategic information about their goals, challenges and plans for growth via social media. Sales teams can use this information to target their approach to the needs of each prospect • Individuals in targeted companies often share challenges or seek ideas for solutions via social media. Proactive response to those individuals can lead to sales growth and additional referrals
General Strategies Connect • Social media has become—digitally—a combination of what chamber of commerce mixers, class reunions, and conferences used to be in person • Networking via social channels can lead to sales opportunities not only directly, but via referrals from clients, former classmates, distant relatives, and digital influencers • Include your social media links on business cards and email signatures to make it easier to find you via various channels • Crosslink your social media accounts to each other
General Strategies Engage, Advise, & Share • Social media enables members of the sales team to become digital influencers themselves • Acting as an ongoing resource for advice and expertise keeps both the salesperson and the company top of mind when a window opens for a sales opportunity • Answering questions about the business in general keeps you top of mind as a resource • Post relevant content from other sites that will interest targets • Blog about industry or implementation best practices • Link targets to solutions to other issues
General Strategies Monitor • Just as companies issue strategic clues on Twitter and other social sites, so too do competitors, enabling you to monitor their strategies and prepare for future campaigns, initiatives, and/or challenges • Intelligence gathering on social media is more current and enables real-time response Set up Google alerts for key names and topics to listen proactively for news 38 : • – Your Name – Company Name – Competitor Names – Client Names – Key Unique Terms “According to a study by conversocial, only 3% of tweets directed at a company actually use their official @username 37
General Strategies Develop a daily routine 4 • Watch the Hootsuite video referenced in the online sources (# 4) • 10/10/10 rule: Spend: each day connecting with buyers each day becoming a trusted advisor each day gathering intelligence about prospects/ competitors/ etc. “Distinguish yourself as a provider of consistently good advice.” –The Social Media Sales Revolution
LinkedIn LinkedIn is “the world’s best business networking database” 35 • • Your profile is your online resume – Professional photo – Complete background and experience – All relevant skills and expertise • Ask for professional recommendations from other clients Join relevant groups 37 • – You may join up to 50 groups – Groups give you a place to answer questions and Forrester Facts: demonstrate knowledge B2B Decision Maker use of – You can contact people in your groups even if they aren’t LinkedIn: “88% have direct contacts connected with peers or colleagues in the past month, while 40% have participated in groups that are affiliated with a brand or vendor. 81% of LinkedIn users visit the site with a business purpose at least some of the time.”
LinkedIn Profile Professional name Professional picture Attention-grabbing heading Contact info Other social media Vanity URL for links Summary demonstrating expertise Experience
Twitter • If new, start by following key companies and industry associations – Look at who is following them Search and monitor key hashtags 4 – follow the people posting about those topics • • Use your profile space strategically – Use hashtags and key info in a very limited space • Use the same photo across all social sites for easy confirmation “Stakehold” your handle on new sites to protect it 38 • If selling into a geographic region, search geographically 4 – use Twellow • Same profile picture Unique header photo Forrester Facts: Describe your B2B Decision Maker use of value Twitter: “86% of users look to Twitter primarily to read others' tweets, with very few actively sharing through this channel. More than half have posted a tweet themselves or retweeted something they've read online. And 42% have used Cross-linked sites Twitter to get product support.”
Facebook Consider separate accounts for personal and business purposes 35 • • Join public & private groups related to your field • Be cautious with privacies and photos – Remember that your profile photo and your cover photos are public • If connecting with business colleagues in a personal account, use the List feature to organize and ensure you’re sharing appropriately. Forrester Facts: B2B Decision Maker use of Facebook: while ”Only 2%…view their Facebook presence as primarily for business” many use Facebook for business sometimes. “Of those that do, 71% use it to connect with people…Slightly more than half have liked a brand or vendor (57%) or clicked on an ad/posted on a page owned by a brand or vendor (51%).
Google+ • If only 49% are using it, why leverage it? • 72% of product research for a future business purchase begins on Google, according to Pardot's 2013 State of Demand Generation Report 2 • Google+ ties directly to SEO for your website and for social media • Enables a link into YouTube, for video blogging • An alternative to using two Facebook accounts – Facebook for Personal, Google+ for Business • Allows organization by “circles” – Circles are like Facebook Lists – If not already on Google+ , you can start fresh with ideal groupings – Control who sees various posts and who you see in your feed
Blogging • Hubspot reports that 92% of companies that blog multiple times per day have acquired a customer from their blog 1 • “Encourage team members to think about new ways to focus on prospects’ needs and business challenges by answering common questions that prospects ask in their buyer journey” 6 • The most successful B2B content marketers rated blogs as the most effective social media tactic, per a 2014 Benchmarks study 8 • Blog about industry trends, challenges • Blogs can be written or video • Platforms: – WordPress – Blogger – YouTube
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