Measuring Social Media Marketing

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This presentation from Jim Tobin at Internet Summit 2013 takes a high level approach to measuring social media marketing and how carefully designed social media should drive business goals and results.

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Measuring Social Media Marketing

  1. 1. Jim Tobin @jtobin Measuring Social Media Marketing
  2. 2. Select Clients 16 16
  3. 3. Measuring Social Media
  4. 4. Remember:
  5. 5. Measurement Aligns with Goals • Awareness – Building awareness of a product or service • Website Traffic and Goal Conversions – Driving traffic to a website and particular goal pages • Email Registrations – Encouraging people to register for CRM programs such as email • Online Mentions and Share of Voice – How often are people talking about your brand • PTAT – Should Facebook’s metric be used? • Sentiment – Changing opinions in a measurable way
  6. 6. Awareness • Impressions How to calculate views Organic views Via Insights Challenges with impressions (Potential? Estimated?) Now shows impressions
  7. 7. Web Traffic and Goal Pages Direct Search Social Goal Pages
  8. 8. Email Registrations
  9. 9. Dodge Defiance Objective: Leverage the media partnership between Dodge and the SyFy channel and Trion video game Defiance, which both used the Dodge Charger and Challenger.
  10. 10. Dodge Defiance Strategy: A gamification sweepstakes that followed closely the events in the SyFy show, and encouraged sharing in order to win a chance at a grand prize.
  11. 11. Dodge Defiance
  12. 12. Dodge Defiance
  13. 13. Dodge Defiance
  14. 14. Defiance Arkfalls Sweepstakes Dodge Defiance Sweepstakes: 270M brand impressions 231K new Facebook Fans 167K blog page views (5/9-6/25) 52% opt-in rate for Dodge comm.
  15. 15. Online Mentions and Share of Voice
  16. 16. PTAT
  17. 17. Sentiment
  18. 18. ROI or Social Value
  19. 19. About Social Media “ROI” http://bit.ly/IgROIVideo
  20. 20. Six models of social media marketing ROI • The Amplification Model: – how much would it cost to buy these impressions/social actions through paid media? • Value of Social Traffic versus Display: – how much does it cost to get a visitor to your site via social promotions versus display advertising? • Quality of Visitors from Social Media: – how well do the visitors being driven to a site via social media perform? • Revenue from Facebook Fans Model: – how much incremental revenue do Facebook fans generate? • Revenue from Social Media Marketing: – how many sales can be attributed to your social media marketing programs? • Social Promotions Sales ROI: – how many sales can be attributed to a special social media marketing promotion?
  21. 21. The Amplification Model Calculates the value of the following: In a given time period, we generated: 1) 2) 3) 4) 5) 6) 7) Facebook Organic Impressions Clicks on Facebook Links Twitter Impressions Clicks on Twitter Links Organic YouTube Views Blog Page Views Online Brand Impressions 1) 75,442,874 Organic Impressions Using Data from: On a spend of: • $1,660,000 (Agency fees and all expenses) A) B) C) D) Industry data on CPM for targeted online buys ($8 CPM) Industry average for cost-per-click advertising ($0.58 per click) Average cost per view for promoted YouTube videos ($0.20 per view) Parts of “Social Equivalent Ad Value Model” created by Tourism Ireland (http://scr.bi/KjPwEd) (Facebook and Twitter only) 2) 4,849,246 Social Actions (Links clicked, brand mentions, organic YouTube views, blog page views) With a value of: • $2,021,627.27 For a Purchase Equivalency of: • $1.21 for every $1 spent
  22. 22. Value of Social Traffic versus Display http://www.ignitesocialmedia.com/social-media-stats/social-media-campaigns-vs-banner-ads/
  23. 23. Quality of Visitors from Social Media Description Pages per Visit 1.57 2.84 Delta Social = 1.8x more visitors Time on Site 0:40 2:18 Social = 3.45x more time on site Bounce Rate 81.40% 45.46% Social = 44% lower bounce rate 3,098 12,603 Social = 4x more goal conversions Goal Conversions Display Social
  24. 24. Revenue from Facebook Fans Model • • Social media is great at driving vast amounts of conversation. Conversation that gets seen. Facebook fans are better advocates, and better customers, than non-fans. Description Net New Facebook Fans % Likely to Consider, Fan % More Likely to Purchase Since Becoming a Fan Price of Product Purchases per Year # of New Facebook Fans Who Are New Customers Total Estimated Revenue (Year) Number Notes 283,786 For a year 69% Blackberry is closest analogous brand in 16% this case Conservative estimate from the 2011 Chadwick Martin Bailey Consumer Pulse $250 Fictitious, changed from actual client 0.33 31,330 $2,584,722.89 example Fictitious, changed from actual client example New Fans * % Likely to Purchase * % More Likely to Purchase Since Becoming a Fan New Fans Who Are New Customers * Price of Product * Purchases per Year Likely to Buy Same Brand Again Source: Facebook 60% 55% 53% 50% 40% 36% 37% 30% Owner + Fan 20% Owner, Not Fan 10% 0% Brand A Brand B
  25. 25. Revenue from Social Media Marketing Visitors to Goal Pages Products Sold Number 4,830,827 In a given time period Notes 345,324 For the same time period Goal Pages/Sale: 13.989 Social Media Traffic to Goal Pages 27,716 Visitors from social networks, blogs, etc. who landed on one of the goal pages in the time period 1,981 Social media traffic to goal pages / (goal pages/sale) Products “Sold” Through Social Average Sales Price per Product Revenue from Social “Sales” Cost of Social Media Marketing ROI $135 Revenue during the period / unit sales during the period $267,435 Products “Sold” x Average Sales Price $97,500 For the same time period $1.74 (Revenue – Cost) / Cost
  26. 26. Social Promotions Sales ROI Total Cost of Promotion # of Goal Page Completions Goal Pages per Sale Products “Sold” Through Social Revenue from Social “Sales” ROI Number $195,404 Including ads Notes 34,812 Use actual if it can be tracked with tracking links. If not, measure “above baseline” during tracking period. Counting unique visitors would be best. 13.989 From model above 2,489 Goal page completions / goal pages per sale $336,015 Products “Sold” x Average Sales Price of $135 $0.72 (Revenue – Cost) / Cost
  27. 27. Maintain Your Balance
  28. 28. Balanced Approach Earned The social current that carries the message Ignite takes over Paid Paid A driver and amplifier of growth and reach Owned Amplified Success Both a driver and benefiter of social efforts 93:1 ROI
  29. 29. Organic Exposures Are Better 76% Lift 28% Lift
  30. 30. Organic Exposures Are Better 6x More Pages 2x More Pages
  31. 31. Organic Exposures Are Better 55% Lift No Lift
  32. 32. Take Home Messages
  33. 33. Jim Tobin jim@ignitesocialmedia.com 919.653.2582 @jtobin

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