Guest Post: Priit Kallas - Social Media ROI Backwards (for B2B)
This guest blog post from Priit Kallas is one of the best examples of developing ROI I have seen, but Kallas presents it in such simple terms, it just makes total sense. You can follow Priit on Twitter However I have a problem with Social Media Marketing 'B2B'. We don't sell to businesses we sell to people. Sure there is a different buying process when you're doing it for the company but essentially I think the idea of B2B marketing on Social Media gets people thinking about all the wrong things.
So I posed this point to Priit Kallas.
Me: "I have an issue with B2B in Social Media Marketing. Personally I don’t think it exists. Your diagram would apply to a business or personal brand using Social Media and B2C situations as well. The process is exactly the same."
Priit: "The only difference I see in B2B is that there might be more than one decision maker in the process and you need to give your "fan" enough firepower to convince the others. That's where content/article marketing comes in. I would suggest that the goal of B2B marketer is to make the people on the other side "look good" for bringing great stuff on the table."
I love this description. I could not agree more BUT I still feel this is the same for B2C. You want the potential customer to look good talking about your product or service no matter what it is, or whoever it's being purchased for.
Priit also blogged about this discussion here
Anyway here is the guest post from Priit Kallas. I'd love to hear your comments too.
If you have thousands of followers on social networking sites then the obvious question comes up. How do we get money out of it? Now if you started thinking about it just now then it may seem a very complex task. But the solution has been here for years in project management and goal setting. First ask yourself:
What is the desired result of your social media activity?
Now we would have to put a dollar value on that result. After that you will need to go backwards from your goal defining each step on the way. In the business to business sector a desired outcome might be leads. You need to convince the prospects that you are the guy for the job.
So what are the steps before the prospect gives you the money (backwards)?
Convince the prospect
The visitor believes that you know what you are doing. The next question he asks is do you know the prospect, are you fun to work with? Here’s where social media will help you out. Your followers will give social confirmation that there are other people who are doing business with you and are not afraid to show it. Case studies of real clients and discussions of real people will help tremendously. Talk to prospects directly, show your personal touch.Help them shine in their own organization. People love to do business with people not logos or websites. Count leads.
Demonstrate your expertise
Show your skills and give advice. Have a content strategy that is derived from the needs of your target audience. If they have a question you should have an answer. Encourage them to interact on social channels: ask questions, describe their problems and experiences. Answer everyone. Count interactions, questions.
Get qualified visitors
Create outstanding content. Find out what are the problems your target audience struggles with. Write helpful material to address those issues. The material you create should be distributed through your social media accounts. If you know your target and their problems then the content you create will bring them in. Even better… if you are spot on and the content is compelling enough they will share it with their peers. This will be your sustainable visitor engine. Count visitors, readers, downloads, sharing etc.
Sharing and distribution
The process doesn’t end with the sale, there are more steps after the conversion takes place. From happy clients you should get case studies, client interaction on social channels and sharing your content. You are on the next lap and everything you did before is now compounded. Count mentions, comments, retweets, etc.
If the time and money spent on the social media presence is less than the profit from the sale then you have positive ROI.
Republished with permission from Priit Kallas. Original post is here