Understandingtheimpactofsocialmedia 101022110846-phpapp02


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Understandingtheimpactofsocialmedia 101022110846-phpapp02

  1. 1. Understanding the Impact of Social Media @argylesocial @ericboggs @covati argylesocial.com @ericboggs, @covati
  2. 2. Argyle Social helps marketers understand the impact of social media. argylesocial.com @ericboggs, @covati
  3. 3. How do you understand the impact of social media marketing efforts today? argylesocial.com @ericboggs, @covati
  4. 4. Engagement is a core tenet of any social media marketing program. argylesocial.com @ericboggs, @covati
  5. 5. Engagement – and your social media marketing efforts in general – should eventually lead to dollars. argylesocial.com @ericboggs, @covati
  6. 6. Without a commitment to measurement, you’ll have no idea if you’re creating value or wasting time. argylesocial.com @ericboggs, @covati
  7. 7. “What gets measured, gets managed.” argylesocial.com @ericboggs, @covati
  8. 8. PPC Keyword Impression Click Visit Conversion Click Conversion Email Offer Send Open Social Twitter/Facebook argylesocial.com Fans/Followers @ericboggs, @covati
  9. 9. The Social Funnel Channel Conversion doesn’t complete the cycle it re-frames the relationship. Subscribers Influencers may be outside the funnel Engagers Prospects Engagement drives loyalty and repeat purchases Conversions argylesocial.com @ericboggs, @covati
  10. 10. Subscribers • Your people: Followers, Fans, Subscribers, etc. • Extend customer relationships online. • Key Metrics: – % customers subscribed – Growth rate, growth drivers • Hack: – Ask for social connection at all customer touch-points. – Link social subscribers to email subscribers. – Quantify customers / subscribers. argylesocial.com @ericboggs, @covati
  11. 11. Engagers • People that raise their hand. • Engagement moves subscribers down the funnel. • Metrics: – Engagers / Subscribers – can you increase engagement? – Interactions by Content – what made people pipe up? • Hack: – Define “engagement” for your organization. – Inspect your data from different perspectives. argylesocial.com @ericboggs, @covati
  12. 12. Prospects • People that convey interest. • This stage may take different permutations. • Key Metrics: – Interactions per prospect – Prospects by content • Hack: – Define the threshold between engager and prospect. – Use web analytics parameters to build smarter links. – Let others do the asking for you. argylesocial.com @ericboggs, @covati
  13. 13. Conversions • People that rang the register. • Conversions should include repeat customers. • Metrics: – Revenue per content, per subscriber, per channel, per property, etc. – Lead time – from subscriber to conversion. • Hack: – Use web analytics parameters to build smarter links. – You can probably track this with existing tools. – Rinse, repeat. argylesocial.com @ericboggs, @covati
  14. 14. Room For Improvement • These steps are squishy. • Causation is a big leap from correlation. • Attribution remains a problem. • This is still a manual process. For now…  argylesocial.com @ericboggs, @covati
  15. 15. Try This Tomorrow: • Find ways to differentiate your audience. • Snapshot metrics that reflect separate stages. • Try to move the needle week-over-week. • Tip: Channel argylesocial.com Subscribers Engagers Prospects Conversions @ericboggs, @covati
  16. 16. Try This Tomorrow: • Tip, cont’d: – Create a new Gmail account. – Export your email list, import to Contacts. – Use the Contact finder on Twitter/Facebook/etc. to find your customers. – Count / Follow / Engage / Etc. argylesocial.com @ericboggs, @covati
  17. 17. Try This Tomorrow: • Publish all social content via single platform. • Append analytics parameters to your links. • Track the impact of your content. • Tip: – Link bit.ly with Tweetdeck across your team. – More? Check out Argyle, Spredfast, CoTweet. argylesocial.com @ericboggs, @covati
  18. 18. Try This Tomorrow: • Find your top-performing content. • Re-schedule it for the next several months. • Thank me later. – Tip of the hat: Phil Buckley • Tip: – Vary timing to determine if it is significant. – Make sure to segment tracking data. argylesocial.com @ericboggs, @covati
  19. 19. When working on other marketing programs, ask yourself why your social media marketing programs don’t have the same rigorous approach. argylesocial.com @ericboggs, @covati
  20. 20. Feedback? Questions? (Thank you.) Eric Boggs - eric@argylesocial.com Adam Covati – adam@argylesocial.com argylesocial.com @ericboggs, @covati