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 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
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