Social Demand Generation: Maximizing Social Media for Demand Generation
Social media for demand generation is an extremely effective tool. It is used to research buyer behaviour, gather relevant information, generate more demand and nurture leads. Alex Jones of Brandwatch says We have seen our clients use social media for everything from in-depth behavioral research on Millennials to learning what kind of weather provokes people to buy ice cream No wonder, social media is said to be the reason Donald Trump won the U.S. presidency or the key to rebranding egg farming.
Is social media for demand generation gaining traction in the B2B space?
Of course! According to B2B Buyers Survey Report, 53% of B2B buyers spend more time using social media to research vendors and solutions. Not only this, 83% B2B marketing teams use social media as a part of marketing strategy So, how do we maximize social media for demand generation? What should we keep in mind while strategizing use of social media for demand generation? In this post, we will discuss ways in which you can use social media for demand generation.
1. Start looking at social media as a demand generation tool
If you want to use social media for demand generation effectively, it is important to start looking at it like a demand generation marketer. What do we mean? A demand generation marketers not only focuses on brand awareness, but analyzes data involved in conversion optimization and sales cycle. Questions like below are answered in detail before taking an action –
- How do I segment leads?
- What tactics engage buyers the most?
- What type of content is effective in lead nurturing campaigns?
- How to ensure that each dollar spent translates into money/revenue earned? etc
As a social media manager, you need to start doing the same. Stop looking at social media as a œcontent distribution platform and start looking at it as a revenue generating platform.
The amount of data insights you can gather from social media platforms is incredible (discussed below). Needless to say, there are many ways you can utilize audience insights to improve your demand generation mix. Isn’t it?
2. Focus your efforts on appropriate channels
Don’t split your time between ALL the platforms. Decide on 1 or 2 platforms that will help you achieve business goals. Did you know that Snapchat ads are viewed up to one million times a day (source)? However, if you are in to medical equipment space, your buyers probably do not hang out on snapchat. In case you are into marketing tools, you want to try it out!
According to KippBodnar, CMO of HubSpot, B2B marketers are moving beyond LinkedIn and Twitter as platforms such as Instagram and Snapchat to gain traction among buyers.
Recent figures by Statista.com show the dominance of Facebook because of it appeals to both personal side as well as professional.
Surprised at the list? This is why you shouldn’t decide on a platform based on your bias or preference.
So, do your research. Not every platform will fetch tangible results for your business.
Social media for demand generation will truly work if you choose the right platform to implement your strategy.
3. Use social listening to make an informed decision
According to Dominique on Sprout Social, social listening allows you to find the exact preferences, problems and challenges your target audience has, and then create solutions to offer them that are based in the value proposition of your brand. In short, social listening is about gathering relevant information based on overall sentiment and tone of conversation going on about your brand. Most marketers ignore the readily available information on social media. You need the right MarTech stack to gather information, analyze and present it in a way that is easier to understand. For example, sprouts social tool can create reports to track trends, hashtags, tag messages etc. This is an excellent example of using sprout social tool for social listening.
Let’s take an example. If you track social media behaviour, you may realize that millions of people crack phone screens every day. There is a clear demand for shatter-resistant phones. This information can also be useful for phone accessory manufacturers. They can share content or webinar updates that deals with this area to maximize engagement and drive demand for their product (for example, a tempered glass). You can also gather the trending keywords and steer your SEO strategy towards that. When you create content keeping in mind the reason behind why it trended along with using the right keywords, you are bound to drive crazy traffic to your business. By identifying such information, needs and gaps in the market, social intelligence can inform demand generation strategy, lead generation mechanisms, content marketing, value propositions and positioning of your brand.
4. Use social data to segment and nurture leads
You can use social data to segment potential buyers into personas. There are several tools, including Brandwatch, which allows you to collect these leads. Such tools allow you to create a panel of profiles that fit the persona or demographic you are targeting. These lists can be used to understand the trending topics among your prospects, the overarching concerns they have, and the language they use. You can also understand influencers in your niche for a targeted outreach or collaboration. This information can drive your demand marketing tactics along with steering content marketing strategy and social media marketing towards lead nurturing and demand generation.
5. Include Social engagement data into a lead scoring model
Your lead scoring already incorporates behavioral data. For example, it includes a click to download or click through from an email etc. Unfortunately, most lead scoring models do not include leads social media engagement even though these are great indicators of TOFU interest. According to Socedo, socially engaged leads tend to better leads. Over the course of a month, we found that leads generated from social media signals were 45% more likely to convert into opportunities, and in about two-thirds of the time. Including social media into the lead scoring model can result in more MQLs for your sales team. Activities like clicks on posts, click through on direct messages, engagement with industry influencers, tweet for recommendations or engagement with competitors are something to make a note of. Demand generation teams are always data savvy – it is all about data and analytics. Social media give a great platform for demand generation marketers to gather relevant information, understand their target audience and craft a compelling strategy. Have you started using social media for demand generation?
Is your MarTech stack adequate enough to give you all the details to make an informed decision?