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Social Media Marketing, Is it worth it?
Campaigns, conversions, analytics & ROI
Centre For Collaboration & Partnership, University Of Brighton December 20-21, 2011
Is it worth it?
Understanding the Funnel, SMART targets for Social Media, Social Media Campaigns, 3rd party tracking tools
Understanding the Funnel
Beyond ‘prospects’ and ‘customers, and into a funnel. The aim is not to sell as quickly as possible but to progress relevant people to the bottom of the funnel where they’re ready to buy.
You can engage, inform and entertain people all the while enhancing your connection and building a community of friends who may buy and/or may promote you to others.
Existing customers are valuable, get the treatment they deserve and help you think about how you best promote and build your web presence
* we’ve become more refined over time
* Google has perfected the funnel
* example: searching for ‘training’ in Google.co.uk puts the prospect at the top of your funnel. Changing to ‘toilet training’ would push them out of the funnel, you can ignore them. But, here comes someone else with ‘CPD training Brighton’ now that prospect is worth a lot more of your time and attention. This is how AdWords works, people pay more for better qualified leads.
* You can write AdWords adverts (and social media updates) to encourage lots of clicks or fewer (but better) clicks. Trad. marketing thought attention was infinite and free. But Google charges more for the clicks from the people further down your funnel
SMART targets for Social Media
￼￼￼￼￼S - Make sure that this is a target with a purpose, not just a target in itself. So a specific target should not be something like ‘Publish 3 Twitter updates every day’, but instead something like ‘Build a twitter audience of 500 potential customers’.
M - e.g the number 500 gives us something to measure against, which is better than simply saying ‘Build Twitter following’, numbers are very easy to find for most online activity
A - Writing down a target doesn’t make it happen. Do you really have the time, skills and ability to make it happen? If it doesn’t sound realistic you’re unlikely to try hard to achieve it. Try stretching existing metrics, i.e. ‘increase homepage traffic by 10%’
R - If you have little intention of ever writing newsletters or sending out material or offers to people on your mailing list then there’s not much point in creating one. Doing something just because it sounds good or because someone else is doing it is not a reason for it being relevant to your own goals.
T - Be realistic, but don’t be open ended. If your target doesn’t sit within set time bounds then it’s liable to end up dragging on forever, ‘increase weekly homepage traffic by 10% before the end of Q1’