Social ROI:Measuring What Matters

Social ROI: Measuring What Matters Internet Summit November 15, 2011 Jill Carlson Marketing Manager#ISum11

@argylesocial @carlsonjill #isum11#ISum11

Agenda• Why am I here?• Why is social media marketing problematic?• How do you measure social ROI? – Awareness – Interest – Action#ISum11

Life, Pre-Argyle Inputs Outcomes (books, libraries, students (increased learning, proficiency, served) fluency)#ISum11

Life, Pre-Argyle The biggest challenge was connecting the inputs to outcomes. Inputs Outcomes (books, libraries, students (increased learning, proficiency, served) fluency)#ISum11

Oh So Meta… Social Media Marketing for a Social Media Marketing Management company#ISum11

Why is social problematic?• Real-time• One-to-one• Pervasive• Changing• Complicated#ISum11

Why is social problematic?• Real-time• One-to-one The biggest challenge facing social• Pervasive marketers is connecting the media• Changing inputs to outcomes.• Complicated#ISum11

Social media should be data-driven• Social Media Marketing = Marketing• Marketing = Driven By Outcomes• If A=B & B=C, then A=C.#ISum11

Social is difficult to measure Two Types of Marketing Channels Intent Generating channels: Build awareness, interest, desire Intent Harvesting channels: Call to action (purchase, form, etc.) Two Types of Conversion Tracking Multi-touch tracking attributes revenue to all of the channels on their path through the funnel. Last-touch tracking attributes all of the revenue to the last channel prior to sale.#ISum11

Social is difficult to measure Your goal as a social media marketer is to move people down the funnel.#ISum11

You (Probably) Under-Report Social Day 30: Day 0: Person makes buying Person follows your company on decision, Googles your Twitter. company, clicks an ad, converts. Day 0-30: Person clicks, socializes, RTs, posts, etc.#ISum11

You (Probably) Under-Report Social Day 30: Person makes buying Day 0: decision, Googles your Person follows your company company, clicks an ad, on Twitter. converts. Social is rarely the last touch. Day 0-30: Person clicks, socializes, RTs, posts, e tc.#ISum11

For example… Google Analytics shows 178 social media ―assisted conversions‖ for a time period……but we tracked over 1,100 sociallyInfluenced conversions for the samechunk of time.#ISum11

For example… Google Analytics shows 178 social media “assisted conversions” for this time period… Scenario 1: Social media gets scrutinized. Scenario 2: Social media is the hero.…but we tracked over 1,300 sociallyInfluenced conversions for the samechunk of time.#ISum11

Social Proof? 20% of total Exclusive 225% follower sales to the online listings growth over 6social channel drive offline months sales#ISum11

Now what? HOW DO I MEASURE MY SOCIAL ROI?#ISum11

Measure what matters Every single step is measurable: Awareness: followers and fans Interest: clicks and engagement Action: social conversions#ISum11

Measuring Awareness: Fans How many do you have? – B2B Compare total fan count to lead count. Aim for 1:1 ratio. – Consumer Products Compare fan count to customer count. Aim for 1:1 ratio. – Newspapers & Blogs Compare fan count to Flickr user Fe em Brasil website uniques. Aim for 15%.#ISum11

Measuring Awareness: Fans How many do you have? – B2B Compare total fan count to lead count. Aim for 1:1 ratio. and Fans followers are crucial – denominators for other data points. Consumer Products Compare fan count to customer count. Aim for 1:1 ratio. – Newspapers & Blogs Compare fan count to Flickr user Fe em Brasil website uniques. Aim for 15%.#ISum11

The iPad Conundrum#ISum11

Measuring Awareness: FansWho are they? Where are they coming from?Demographics—target and actual ―Like Sources‖ and ―External referrers‖#ISum11

Measuring Awareness: FansWho are they? Where are they coming from?Demographics—target and actual ―Like Sources‖ and ―External referrers‖ When it comes to your social audience, quality is just as important as quantity.#ISum11

Measuring Interest: ClicksKPIs• Clicks (duh)• Clicks per post• Clicks per follower• Response rateKey Questions• What content drives interest?• What are you posting?• How are you posting it?#ISum11

Measuring Interest: ClicksMetrics in Action Clicks Posts Clicks per Post Increase in clicks is driven by increase posting frequencyWhich isbetter? Increase in clicks is driven by more engaging content Decrease in clicks is driven by lessWhich is engaging contentworse? Decrease in posts is driven by fewer posts—easy to fix!#ISum11

Measuring Action: ConversionsKPIs• Revenue• Conversion count• Revenue per conversion• Conversion rateKey Questions• What is your call to action strategy?• What offers work best?• Are you using landing pages?#ISum11

Measuring Action: ConversionsMetrics in Action Revenue Conversions RPC Increase in revenue is driven by higher conversion volumeWhich isbetter? Increase in revenue is driven by higher revenue per conversion Decrease in revenue is driven by lower revenue per conversionWhich isworse? Decrease in revenue is driven lower conversion volume#ISum11

Some Insights we’ve gained• Aggregated and anonymous• December 2010 through May 2011• 70k+ posts• 381 organizations; all industries, all sizes#ISum11

Definitions• Post: a single piece of content published via Argyle Social.• Click: a redirection from an Argyle short URL, published via Argyle Social.• Conversion: direct or indirect completion of an Argyle Goal as a result of a click on a post published via Argyle Social.#ISum11

Insight #1RSS Automation Works Clicks by Posting Method Revenue by Posting Method 30 $300 25 $250 20 RSS automation is just as $200 Revenue Clicks 15 effective as posting manually. $150 10 $100 5 $50 0 $0 RSS Manual RSS Manual Posting Method Posting Method#ISum11

Insight #2Scheduled Posts Generate Clicks, Not Conversions Timeliness vs. Traffic Timeliness vs. Influenced Revenue 25 $400 $350 20 $300 Influenced Revenue $250 15 Scheduled posts drive traffic. Clicks $200 10 $150 5 Timeliness drives conversions. $100 $50 0 $- Posted Immediately Scheduled for Later Posting Timeframe Posting Delay#ISum11

Insight #3 Curating Drives Clicks…Creating Drives Conversions Clicks Per Post Click To Conversion Post Conversion RatePromoters Promoters Promoters Over-curating is ineffective. Balanced Balanced Balanced Over-promoting isn’t as ineffective Curators as you might think. Curators Curators 0 20 40 60 0.0% 1.0% 2.0% 3.0% 0.0% 50.0% 100.0% 150.0% Sample Breakdown #ISum11

How do I manage the fire hose?#ISum11

Iterate, iterate, iterate Define goals/objectives/indicators Track through to outcome Revisit the framework Test Learn Work towards a small Test, learn, adjust, repeat toolbox Adjust#ISum11

Did we cover it?• Why am I here?• Why is social media marketing problematic?• How can you measure social ROI? – Awareness – Interest – Action#ISum11

Five things you can do now1. Aggregate your publishing efforts.2. Make it a habit to share smart links.3. Activate Multi-Channel Funnels in GA.4. Develop a content matrix.5. Conduct a social media review.#ISum11

Plot your courseSocial Review Whitepaperhttp://ar.gy/review• Do you have the fans you want?• What content resonates with youraudience?• How do you drive more value throughsocial?#ISum11

Thank you very much. Slides at http://ar.gy/isummit11 Jill Carlson @carlsonjill http://argylesocial.com#ISum11

Social ROI:Measuring What Matters

by Jill Carlson on Nov 15, 2011

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Social ROI:Measuring What Matters — Presentation Transcript

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