Many of the case studies you’ve seen me write about are B2C. But in the report on ROI of Social Media, I gathered data on B2B companies too. Here’s a list of B2B communities.
Many people know Intel by their catch tune, “Inside Intel.” And what’s inside are the most amazing microprocessors that allow us to do great things back 25 years ago people could only imagine. Key to having been an innovator is always innovating. Intel- when they first came out with a new chip– think back to the 286 processor and then transition to the 386. They met with some resistance in getting computer manufactures to be interested in the chip. Why would you need more computing power?
So instead of staying stuck or ditching the product, Intel brought together a multidisciplinary team of individuals to tackle the problem. The net-net is that the team realized that its the end-user who is really their customer! when they went into computer shops and talked to the customers, they asked, “Would you like to be able to have many files open at once? Would you like to be able to run graphics programs, plays games, etc….” The customers responded positively with, “Of course we would!” That drove the computer store operators to tell the computer manufacturers to get those intel chips in their computers. Ah… I love that “voice of the customer” story.
But what I love more is that Intel innovated, why? Because they listened. That’s a skill most companies don’t have. And with social media, Intel has put their listening on dual processor tubro charged power. They know that their ability to innovate and lead the market is based on harnessing the power, knowledge and collaboration among customers, resellers, etc.. and Intel.
This is from the following report:
As the Keynote speaker this morning at the MN AMA conference, I presented a case study of the top 15 cosmetic brands and the insights that can be gathered using big data analysis…Brands and agencies need to figure out how to tame B.I.G. Data to:
- Reduce Your Content Costs
- Increase your Brand’s Engagement
- Drive More Customers Through the Marketing Funnel and drive brand advocacy, loyalty and referrals
- Increase customer lifetime value.
THERE’S A NEW WAVE OF BRAND BUILDING. Logos are static. They don’t talk. They don’t have conversations. They don’t engage. Brands…NOW must become Social EXPERIENCES because Marketers are in the business of making connections and two-way conversations. Which means you have to figure out how to make your brand A Digital EXPERIENCE. Engagement
is essentially people sharing content– where content is: status updates, links, photos, videos, etc…
All that sharing is what’s causing the BIG DATA Explosion!!!So With >3.5B pieces of content Shared / Week, how can marketers make sense of all this B.I.G. DATA. There is VALUE in SOCIAL & DIGITAL INTERACTIONS… Many people have turned to keyword-based social media monitoring and listening to know what their customers are saying And that’s necessary and good to do but…. marketers need to know what drives engagement. Engagement determines business success by increasing:
- Positive sentiment
- Share of voice
- Awareness, interest, consideration, intent
- Lead conversions rates & sales
- Loyalty, advocacy & referrals
WHAT’S SHIFTING THE NEED FOR SOCIAL MEDIA ROI? We’re in the “third wave” of social media. The first two phases were driven by the: 1. Innovators 2. Early Adopters. They don’t need a business case to adopt something NEW. But the early majority are pragmatists… They are driving the questions about social media ROI. They want proof before they’ll get on board for larger social media budgets. SOLUTION: measure engagement know for sure if The Content is driving marketing $uccess. To measure & compare engagement requires something new. That’s where interest graph data comes into play. Based on customer’s collective:
That’s how you gain am emotional connection. The challenges and the truth is… Most brands didn’t realize they were going to become content creators and publishers. They don’t have the budget to create enough great content to be effective at engaging their customers. And the cost to promote content – can be prohibitive. Top companies are wondering how to take their social media initiatives to the next level…
- Do more of the right things
- Put structure around what is unstructured
- Benchmark “As Is”
- Create a strategy and plan
- Track the progress
- Gather the right metrics
- Create and sustain world-class social media brand.
Social Media Assessments place you and your brand in a leadership position…
here’s the presentation:
Here’s my Newest Report…. With Answers & How To…If you would like the actual report: here’s where to get it
Many enterprises are considering social media and are wondering if there is return on the investment. I’ve taken a stab at calculating an ROI when social media is applied to customer service. The result? Large ROIs and benefits to every part of the company! Applying social media to customer service may be the tipping point for business to take social media as a serious enterprise application!
At Social Business Builders,
we work with brands & software companies to deliver increased revenue and decreased costs.
Our Motto? Learn. Share. Grow!
@DrNatalie L. Petouhoff
Want to see how to get an ROI from Social Media? Check out these fun videos:
Video 1: Building the Business Case for Social Media
Video 2: How to Measure the ROI of Social Media
Video 3: How Social Media Benefits the Whole Company
Here’s My book on How Businesses can Drive Sales on Facebook: Like My Stuff: How To Monetize Your Facebook Fans
Want to get more info on the business use of social media? Connect with me here:
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