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6 case studies prove Social Selling ROI 0

Posted on July 29, 2014 by Rob Petersen

 

 

Show me the ROI

Social Selling  is the use of social media to interact directly with prospects, to answer questions and offer thoughtful content until the prospect is ready to buy. It’s about discovering people who may eventually be interested in what you’re selling – then making yourself useful to them.

Last week, we published, 27 surprising facts about salespeople who are Social Selling. It was to give an overview of who’s doing Social Selling, how is being used and what are the results. This week, we’re telling some of the stories.

Case studies range from Fortune 500 companies to start ups. Size doesn’t matter. Steps to success always include:

  • Listening to social media for key topics that indicate an unmet need or pain point
  • Giving out relevant content or advice without worrying about getting something in return
  • Demonstrating the wherewithal to stay connected

Does Social Selling “Show me the money?” Here are 6 case studies that prove Social Selling ROI.

  • AT&T:  Put together a new sales team to re-build business relationships with a Fortune 100 company in Atlanta. They decided to take an entirely new approach that heavily favored building relationships through social media. They had to try something new.  Relationships with a key client had suffered in the past five years, creating strain and sales had dried up. With training from Mark Schaefer and support from our internal team, they began implementing a content strategy aimed at strategic “persons of interest” from the former customer. Inside of 18 months $47 million in brand new business was awarded to AT&T, directly attributable to social media outreach.
  • IBM: Traditional ways of finding B2B customers for hardware and software products – telemarketing and email – were not producing the same results when applied to selling web-based services such as cloud computing and data security. IBM launched a program called “intelligent listening” within social media to learn what conversations about cloud computing were going on, what trends and issues were being discussed, and what the hot-button topics in the field were for users. Sales reps could simply check an RSS feed, find some content that fit the context of any discussion they were seeing, and upload them to social media and also to their new individual rep profile pages within the IBM site. The result was 10 orders the first day, and orders for product during the quarter that were 4X higher than during the same time the year before.
  • INCONTACT: A call center software company, trained half their team to learn and engage with customers through Social Selling using LinkedIn and the marketing automation software, Eloqua. Within a year, the half of the team that was trained saw a  122% increase in revenue for those sales reps using LinkedIn; 157% increase in revenue for those sales reps using LinkedIn & Eloqua. Now the entire company is trained in Social Selling Here is a brief video to explain the story.

  • INDIUM:  Social Media in manufacturing is a rarity. Several of their engineers (17 or so, and 73 blogs.) write blog articles to share their expertise with customers, prospects and people who have questions about the technical applications related to solder. They shifted from traditional white papers to blog articles, supported by extensive measurements. Video is part of the mix too, to develop high value conversations, and this rolls over into trade show attendance. The video highlights key points for success and insights. SEO improved significantly. Leads increased significantly while trade-show costs  decreased 75%.
  • HUBSPOT: Focused social media on solving customers’ problems as a way to earn leads. For example, HubSpot is first to release guidebooks their target market needs to create success. When something changes in online marketing, HubSpot is there with a guide to manage the change. They share the best advice, fast and have earned a reputation as THE educational resource for the market they serve. They give knowledge and advice (content) away free and make sure it’s the very best stuff possible. This (now) famous software start-up exploded onto the scene in 2006. Two years later they hit $2.2 million in sales and $52 million 4 years later.
  • LOGMYCALLS: A call tracking service, practiced  a“150 Blog Posts in 50 Days” effort. “With a company our size, the commitment has to be significant in order to produce 3 unique and useful blog posts a day,” says Inbound Marketing Manager, McKay Allen. “After all, we also produce 2 original marketing webinars each week, monthly case studies, a variety of marketing White Papers, and some humorous and awesome marketing call tracking videos.” The result of this original and relevant content: An 400% increase in leads within 90 days.

Do these case studies prove the ROI of Social Selling to you? Could your organization benefit from Social Selling training?

27 surprising facts about salespeople who are Social Selling 0

Posted on July 20, 2014 by Rob Petersen

 

 

Social Selling

Social Selling is the use of social media to interact directly with prospects, to answer questions and offer thoughtful content until the prospect is ready to buy.

Social selling is not hard selling. In fact, it’s the opposite. It’s about discovering people who may eventually be interested in what you’re selling – then making yourself useful to them. For salespeople, especially in B2B industries, its purpose is to establish relevance to prospects rather than interrupt their daily lives with cold calls and sales pitches.

It’s not a buzzword. It’s a real way for generating revenue and results. Here are 27 facts about salespeople who are Social Selling.

  1. IBM saw an Increase of 400% in sales in a Social Selling Pilot Program (source: IBM)
  2. 98% of sales reps with 5000+ LinkedIn connections achieve quota (source: Sales Benchmark Index)
  3. 90% of C-suite executive say they never respond to cold calls or email blasts (source: Harvard Business Review)
  4. 89% of customers begin their buying process with a search engine (source: Fleishman-Hillard)
  5. 86% of IT buyers use social media in their purchase decision process (source: IDG Connect)
  6. 82% of B2B decision makers think sales reps are unprepared (source: SiriusDecisions)
  7. 78% of salespeople using social media outsell their peers. (source: Social Media and Sales Quota Survey)
  8. 75% of customers say they use social media as part of the buying process (source: IBM)
  9. 75% of the sales people said they have not received formal training from their company on how to use social media (source: Social Media and Sales Quota Survey)
  10. 74% of B2B marketing companies use Twitter to distribute content (source: Content Marketing Institute)
  11. 72.6% of salespeople using social media outperformed their sales peers (source: Social Media and Sales Quota Survey)
  12. 61% of US marketers use social media for lead generation (source: IBM)
  13. 57% of the buying process is done before sales contact (source: Corporate Executive Board)
  14. 55% of B2B buyers search for information on social media (source: MediaBistro)
  15. 54% who used social media tracked their social media usage back to at least one closed deal. (source: Social Media and Sales Quota Survey)
  16. 50.1% of sales people who report using social media state that they spend less than 10% of their selling time using social media (source: Social Media and Sales Quota Survey)
  17. 50%-70% of the buying process happens before salespeople get involved (source: Forrester)
  18. 50% of identified sales leads are not ready to buy (source: Gleanster)
  19. 42% Follow or Like a friend or brand; 79% are motivated to do this in order to learn more about the brand (source: Fleishman-Hillard)
  20. Over 40% said they’ve closed between two and five deals as a result of social media. (source: Social Media and Sales Quota Survey)
  21. Social media users were 23% more successful than their non-social media peers. (source: Social Media and Sales Quota Survey)
  22. Today’s sales process takes 22% longer than 5 years ago (source: SiriusDecisions)
  23. 15% of non social media users missed quota 15% more often than their sales peers using social media (source: Social Media and Sales Quota Survey)
  24. More than 10% of the respondents said; “Yes, It directly contributes to my closes.” (source: Social Media and Sales Quota Survey)
  25. You are almost 5X more likely to schedule a first meeting if you have a personal LinkedIn connection (source: Sales Benchmark Series)
  26. Marketers spend an average of 4-6 hours a week on social media (source: Social Media Examiner)
  27. B2B marketers who use Twitter generate 2X as many leads as those that do not (source: Inside View)

If a picture helps explain some of these statistics, below is an infographic from Inside View.

Do these facts about sales people who are Social Selling surprise you? Does your company engage in Social Selling? Do you think your company could be getting better results?

Social Selling Infographic

20 Facebook ad tips for the holiday season 5

Posted on November 17, 2013 by Rob Petersen

 

 

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With the holidays approaching, gift gifting is about to increase, significantly, and so are advertising costs on social networks. Social sharing can have big sales impact, especially on Facebook.

In fact, if last year’s is any indication, within a couple of weeks, costs for Facebook ads are about to rise 20%-40% versus the rest of the year on the primary spending metric – CPC (Cost Per Click).

How do you make Facebook ads work harder when costs are higher.

Here are 20 Facebook ad tips for the holiday season.

  1. BE CLEAR ABOUT CONVERSION GOALS: Conversion means getting people to take the action you want. Do you want Facebook users to buy something on your site? More Likes on your Facebook page — knowing that Facebook fans tend to be valuable customers in the long run?  Enter a sweepstakes or contest? RSVP to a Facebook event?
  2. KNOW YOUR AUDIENCE: Use Facebook’s robust targeting options to focus on specific groups. The more specific your advertising segment, the more clicks your ad will get. The better the Click Through Rate, the more you save on Cost Per Click (CPC).
  3. OPT FOR “PRECISE INTEREST OPTIONS“: Get connected with people who share specific interests analogous to your brand.
  4. GET HIGHER CONVERSIONS TO SAVE ON CPC WITH HYPER-TARGETING: Start with a core, solid fan base first and engage them to get better ad conversions…without breaking the bank!
  5. CREATE “CUSTOM AUDIENCES”: With the addition of the “custom audiences” feature, advertisers are reporting higher conversion rates.  An auto company saw a 24x return using custom audiences in combination with Offers).
  6. REACH MORE FANS THROUGH THE NEWS FEED: 60 percent of all users are visiting Facebook on their mobile phones and tablets. Facebook mobile ads earn up to 2.5X more than desktop-only ads according to a study from SocialCode 
  7. HAVE FANS SHARING WITH “LIKE” ADS” “Like Ads” work just how they sound. Viewers can “Like” you ad at the bottom. They do well when they appear in the right-hand column in addition to the News Feed.
  8. GET MORE EYEBALL FROM YOUR AUDIENCE WITH PROMOTED POSTS: Promoted Posts work best with one audience: yours. Your fans already know you, trust you, and want to engage with you. Target Fans first becaue Promoted Post can  a lot like spam, especially the sponsored story that is created with it. If your Promoted Post is reported as spam, it’ll be running a lot less.
  9. MAKE COPY “SUCCINCT, FRIENDLY AND CONVERSATIONAL”: This is what Facebook recommends too. You have a headline of 25 character and body copy of 90 characters to do it.
  10. CREATE HOLIDAY URGENCY: Put holiday clues in your copy and let people know whatever you’re offering has a limited time to take action
  11. FOCUS ON KEYWORDS: Make use of the related words as close as possible. It will give you an edge against your competitors and rivals.
  12. PUT IMPORTANT CONTEXT IN YOUR IMAGE OR VIDEO: You get one shot and one image or video to make a first impression. Put important copy in your image or video so you don’t waste it. Facebook has standards so don’t make the copy take up more than 20% of the image space.
  13. PUT HOLIDAY IMAGERY IN YOUR AD: Why not create added relevance with images of the holiday that can boost relevance and time to act?
  14. TEST MULTIPLE ADS: Even the smallest change can have a a impact on the click-through rate for your ad, so it’s best to create multiple versions and test. Facebook makes this process easy: Once an ad has been created, you have the option to “Create a Similar Ad” and simply swap in a new picture or text.
  15. UPDATE YOUR WALL. NOT JUST YOUR ADS: Your ads are only as good as your Wall. If you spend a $100 on ads, but the last update on their fan page was a month ago, that’s not a smart spending strategy.
  16. KNOW YOUR BIDDING OPTIONS: A CPC strategy is all about getting the biggest bang for the buck. With the Advanced Pricing feature in the Campaign and Budget window, you can then use the CPC (cost per click) model, as well as set your own bids for the CPM model.
  17. KNOW THE BEST TIME TO RUN YOUR ADS: Make sure your updates are going out during peak hours – the time zone of your fans (for promoted & sponsored posts); he time zone of the demographic you are targeting (for display ads & sponsored posts)
  18. RUN YOUR ADS FOR THE RIGHT AMOUNT OF TIME: Continually assess the ROI (Return on Investment) of your ad so that you can remove or revise it before it starts to really cost you. Watch your CTR and when it starts to dip, it is time to change your ad up
  19. DRIVE PEOPLE TO AN OPTIMIZED LANDING PAGE OR DESTINATION: Make sure the ad directly leads to your website page that tells the potential customer what to do next.You will be throwing your money in a trash can if you do not have a converting landing page to direct the targeted Facebook traffic.
  20. HAVE ONE CLEAR CALL TO ACTION: A comprehensible call to action must be established in the Facebook advertisement itself and also on the landing website page.

We want your business to be successful this holiday season and share some practical advice on how it can be.

Were these holiday tips on Facebook ads helpful? Will you be using any of them?

 

 

 

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    BarnRaisers builds brands with proven relationship principles and ROI. We are a full service digital marketing agency. Our expertise is strategy, search and data-driven results.



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