57% of B2B organizations say “converting qualified leads into paying customers” is a top priority, according to Marketing Sherpa. Capturing prospect data is essential for B2B marketers to drive sales and measure return on investment (ROI).
Like all marketing channels, social media must prove its viability to receive continued budget. Calculating the return on investment (ROI) of your social media program can be challenging, but it can also illustrate the effectiveness of your social media strategy.
Start by following these steps to enable you to better measure the effectiveness of your programs.
Engaging the channel later in a company's evolution may have made sense back when the channel's chief role was sales fulfillment – selling and distributing a vendor's products in markets and geographies that it couldn't otherwise reach. But the role of the channel is changing – indeed, it already has changed – from a sales and distribution focus to providing solutions around a vendor's products and, more recently, providing strategic services around those solutions.
If you are having a hard time deciding how to integrate public relations strategies into your marketing plan, you are not alone. The lines have become so blurred in this age of integrated marketing that PR and marketing tactics are consistently crossing paths—but are typically not coordinated in advance.
While B2C marketers may be considered the early adopters of social media marketing, B2B marketers have long since embraced this valuable platform. Social media marketing enables us to quickly and effectively communicate our value proposition to an increasingly large, captive online audience. It provides a proven way to expand relationships and establish trust—not too dissimilar from our B2C counterparts.