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Social Media ROI:  Addressing the Attribution Problem
 

Social Media ROI: Addressing the Attribution Problem

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Eric Boggs' presentation from Digit

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  • Eric doing the intro.
  • Eric doing the intro.
  • Eric quickly explains the data source for the next few slides.
  • Eric - We’ve walked through a few examples that illustrate how data can drive social media marketing performance and – more importantly – marketing decisions. But we’re just talking about aggregates. The story gets more interesting when you start to look at your data in a similar fashion.

Social Media ROI:  Addressing the Attribution Problem Social Media ROI: Addressing the Attribution Problem Presentation Transcript

  • Social ROI: It’s the Attribution, Stupid.
    Social media marketing drives conversions…you just might not know it yet.
    Presented September 29, 2011 at Digital East
  • @argylesocial@ericboggs
  • First, Some Algebra:
    Social Media Marketing = Marketing
    Marketing = Driven By Outcomes
    If A=B & B=C, then A=C.
  • Social is problematic because…
    It happens in real-time.
    It involves massive amounts of content.

    It happens at the tippy-top of the funnel.
    It isn’t a direct CTA channel.
  • Social is problematic because…
    It happens in real-time.
    It involves massive amounts of content.

    It happens at the tippy-top of the funnel.
    It isn’t a direct CTA channel.
    The biggest challenge facing social media marketers is connecting the dots from input to output.
  • Conversion Trackin’ Ain’t Easy
    Two Types of Marketing Channels
    Intent Generating channels build consumer awareness and interest, creating an intention to purchase a product.
    Intent Harvesting channels capture consumer intent to purchase and drive them to the cash register.
    Two Types of Conversion Tracking
    Multi-touch tracking attributes revenue to all of the channels that touched the consumer on their path through the funnel.
    Last-touch tracking attributes all of the revenue for a purchase to the last channel that touched the customer prior to the sale.
  • You (Probably) Under-Report Social
    Day 0: Person follows your Co on Twitter.
    Day 0 – 30: Person clicks, socializes, etc.
    Day 30: Person makes buying decision, Googles your Co, clicks an ad, converts.
    You chalk up a conversion to Google.
    Your social media team gets the shaft.
  • For example…
    Google Analytics shows 178 social
    media “assisted conversions” for
    a time period…
    …but we tracked over 1,100 socially
    Influenced conversions for the same
    chunk of time.
  • For example…
    Google Analytics shows 178 social
    media “assisted conversions” for
    this time period…
    Scenario 1: Someone gets fired.
    Scenario 2: Someone is a hero.
    …but we tracked over 1,300 socially
    Influenced conversions for the same
    chunk of time.
  • Curation Complicates Things…
    “Curation comes up when search stops doing everything people want it to do. It comes up when people realize it isn’t just about information seeking, it’s also about synchronizing a community.”
    Clay Shirky
  • A Delicious Slice of Argyle User Data
    Aggregated and anonymous
    December 2010 through May 2011
    70k+ posts
    381 organizations; all industries, all sizes
  • Balanced Curation Drives Conversions
    Promoters: link to their own site more than 50% of the time.
    Balanced: link to their own site between 25% and 50% of the time.
    Curators: link to their own site less than 25% of the time.
  • Balanced Curation Drives Conversions
    Your curation efforts are moving the needle…you just don’t know it.
  • Three Easy To-Dos:
    Aggregate your publishing efforts.
    Make it a habit to share smart links.
    Activate Multi-Channel Funnels in GA.
  • Thank you very much.
    Slides at http://ar.gy/digeast
    Eric Boggs
    @ericboggs
    http://argylesocial.com