Understanding the Impact of Social MediaPresentation Transcript
Understanding the Impact of Social Media @argylesocial @ericboggs @covati
Argyle Social helps marketers understand the impact of social media.
How do you understand the impact of social media marketing efforts today?
Engagement is a core tenet of any social media marketing program.
Engagement – and your social media marketing efforts in general – should eventually lead to dollars.
Without a commitment to measurement, you’ll have no idea if you’re creating value or wasting time.
“What gets measured, gets managed.”
PPC Email Social
The Social Funnel Conversion doesn’t complete the cycle - it re-frames the relationship. Influencers may be outside the funnel Engagement drives loyalty and repeat purchases
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.
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. Engagers
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. Prospects
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. Conversions
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…
Try This Tomorrow: Find ways to differentiate your audience. Snapshot metrics that reflect separate stages. Try to move the needle week-over-week. Tip:
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.
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.
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.
When working on other marketing programs, ask yourself why your social media marketing programs don’t have the same rigorous approach.