ROI WTF? Content Marketing Today, in Ten Truths

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How can companies determine the ROI for social media and content marketing programs? This presentation delves into the reality of measuring social and content ROI, and shares ten truths of the world …

How can companies determine the ROI for social media and content marketing programs? This presentation delves into the reality of measuring social and content ROI, and shares ten truths of the world of content marketing today.

In addition to sharing information gleaned from years of working in social and content with clients both inside and outside the outdoor industry, Sara also takes a data-based approach to helping organizations make decisions about their social and content programs guided by real business goals.

Originally presented at Outdoor University at Outdoor Retailer in Salt Lake City, on July 31, 2013 by Sara Lingafelter, Director of Social Strategy at Portent, an Internet marketing company based in Seattle, WA.

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  • 1. Sara Lingafelter @saralingafelter | @portent slingafelter@portent.com ROI WTF? Content Marketing Today In Ten Truths
  • 2. http://portent.co/ROIWTF (Yes, use .co, not .com)
  • 3. Tweet this presentation: #ROIWTF
  • 4. First things FIRST Who AM I? Why am I HERE?
  • 5. Because I’m endemic…
  • 6. … and I really, really love what I do … "Sara  is  kind  of  like   our  social  media   therapist."          -­‐  A  former  client  
  • 7. … and where I get to do it, surrounded by other like-minded web dorks… …harboring a not-so- secret love for data and analytics.
  • 8. And this is what we do.
  • 9. BUT WHY THIS SEMINAR? WHY ARE YOU HERE?
  • 10. Before we talk about ROI, Let’s warm up with everybody’s favorite…
  • 11. Pop Quiz: Choose the best answer: Content Marketing is all about _______________. a.  Near-term revenue; b.  Keyword stuffing; c.  Cat memes; d.  The customer.
  • 12. Building a relationship with your customer. Content marketing is about
  • 13. h8p://bit.ly/15w5IvY  
  • 14. h8p://bit.ly/1406H7K  
  • 15. h8p://bit.ly/1ebK81L  
  • 16. 1.  Scaled to suit your business; 2.  Developed and targeted at activating key customer segments; 3.  Tracked and refined over time. Content marketing can be:
  • 17. Which part of the purchasing decision does content marketing affect? Pop Quiz:
  • 18. 1.  Problem / Need Recognition / Idea 2.  Information Search 3.  Evaluation of Alternatives 4.  Purchase 5.  Post-purchase Behavior
  • 19. It’s not impossible to demonstrate ROI for social & content. It’s just not necessarily easy.
  • 20. ROI: actual return calculated after the campaign. Break-even or CBA: does it appear this campaign will break even or make a profit? Do the potential benefits outweigh the costs? Should we try it? As a housekeeping matter…
  • 21. BRING ON THE METRICS!
  • 22. GETTING WARMER… BUT REFERRAL TRAFFIC AND CONVERSIONS ARE STILL ONLY PART OF THE PICTURE.
  • 23. THE METRICS THAT MATTER ARE THE ONES THAT DRIVE YOUR BROADER BUSINESS GOALS.
  • 24. Terrible Great Scale of Value as a Metric Followers / Likes Impressions Reach Clicks Bounce Rate Abandonment Rate Conversation Rate (or is that Conversion Rate?) Economic Value Lifetime Value Based  on  a  recap  slide  from  Avinash  Kaushik  at  Mozcon  2013  
  • 25. So let’s take a closer look at lifetime value…
  • 26. Meet Jane. •  Jane  just  heard  about  this  new   thing  called  a  Fitbit  from  a  co-­‐ worker.   •  “Track  my  steps  all  day,  and   help  me  lose  weight?    I’m   SOLD.”  
  • 27. See Jane Google.
  • 28. See Jane Fitbit •  $91.77  later,  Jane’s  Fitbit  is   clipped  to  her  waistbelt  logging   her  steps.   •  Six  weeks  later:   •  She’s  bought  the   accompanying  scale  ($126   at  her  local  Target  store,   found  through  Fitbit’s  Store   Locator)   •  She’s  signed  up  for  Fitbit’s   $49/year  premium  service   and   •  She’s  lost  five  pounds.  
  • 29. See Jane Talk to Her Friends •  Jane  shares  her  progress  via   Facebook  and  Twi8er;   •  Her  review  on  Amazon  is  most   helpful;   •  She’s  happy  to  answer  quesdons   when  people  ask  her  about  what   that  thing  is  clipped  to  her  belt.    
  • 30. See Jane’s Friends buy Fitbits. •  Let’s  say,  only  five  friends  buy  a   Fitbit  One,  and  three  buy  a  Fitbit   Scale.       •  Now  what’s  Jane  worth?    
  • 31. See Jane’s Value. (or do you?) •  Jane’s  purchase  of  the   premium  service  may  be  all   Fitbit  knows  about  Jane.   •  Is  Jane  a  $49  a  year   customer,  or  is  Jane  a   $1,076  customer  so  far   this  quarter?    
  • 32. See Jane’s Value. (or do you?) •  And  now,  say  you’re  not  Fitbit.   •  What  does  Jane’s  affinity  for   Fitbit  tell  you  about  her   potendal  interest  in  YOUR   brand?  
  • 33. And, if Jane does introduce herself Create  a  Facebook  Custom   Audience  and  add  Jane  to  it,  to   find  more  people  like  Jane.       Facebook’s  Lookalike  Audience   tools  are  gehng  solid  reviews   from  early  users.    
  • 34. What if Fitbit actually encouraged Jane’s ambassadorship? Now what I want to know is:
  • 35. 1.  The next time Jane visits Fitbit.com (with social login enabled), Fitbit can prompt her to complete her account (if she hasn’t already); 2.  Track clicks in social shares to determine users who meet a threshold for influential activity; 3.  Email invitation to a special members- only community for extra support; 4.  Interview super-Janes for blog posts, to help personalize the brand; 5.  Reward Jane with gifts from affinity brands to surprise and delight her…
  • 36. I COULD DO THIS ALL DAY!
  • 37. So, what’s Jane’s value NOW? •  Create  segments  around   customer  demography  and   behavior     •  Understand  your  customer   types  and  likely  social   behavior  and  value  beyond   the  inidal  sale.     Think  bigger  about  social   and  content  ROI.  
  • 38. Besides… Isn’t estimating SOMETHING better than what you’re doing right now?
  • 39. A recap… Individual Tracking: Jane •  Loyalty  rewards   •  Surprise  and  delight   •  Actual  customer   reladonship-­‐building   •  At  the  influencer  level,   they’ll  rise  up:  it  won’t   take  tracking.   Customer Segments: Like Jane •  Lifedme  Value     •  Content  Planning  &   Targedng   •  Adverdsing  Targedng  
  • 40. •  Portent measured results across 100 client accounts and found that social media investment broke even or lost money in the near term 85% of the time. •  Eighty. Five. Percent. What about near-term ROI?
  • 41. QUICK! FIRE THE INTERN!
  • 42. NOT SO FAST.
  • 43. Not so fast. blah Over  30  days,  social  is  the   third  most  influenOal   correlaOng  factor  when  you   define  conversions  broadly.  
  • 44. But wait, the fun’s not over yet! there are even more hard to quantify returns to consider! 1.  Customer Service Value 2.  Brand Awareness 3.  Customer Retention 4.  New Customer Acquisition
  • 45. Now, with even more mathiness! h8p://portent.co/18LXqS6  
  • 46. WOW! That’s almost as mathy as my mass media ROI!
  • 47. So where are we now? 1.  Social and content benefits extend beyond last click conversion. 2.  There is value to your brand of fostering and encouraging conversation, even if it’s hard to measure. 3.  If it’s too hard to measure, at least model and estimate in a way that makes sense for your organization.
  • 48. Because, let’s be honest. When, over time, customer retention, loyalty, and customer lifetime value goes up, who’s complaining?
  • 49. TEN KEY TRUTHS Content Marketing Today
  • 50. #1 You’re either a publisher, or you’re awesome. (or both)
  • 51. Who has the highest referral traffic from social sources?
  • 52. Who has the highest referral traffic from social sources? 5.41%   .98%   1.54%   3.91%   3.24%   6.02%   6.47%   6.99%   7.79%   7.81%   9.96%  
  • 53. Outdoor Research is crushing it.
  • 54. Social signals correlate to search performance
  • 55. #2 It all starts with Google.
  • 56. #3 The customer is in the driver’s seat. Yes, I already said that. It’s important enough to be repeated.
  • 57. #4 Get used to the search earth moving under your feet.
  • 58. A tip: this isn’t a blog post title.
  • 59. Straight from the Google’s mouth h8p://portent.co/1bIoxSH  
  • 60. #5 You’re wasting time asking what the “next Facebook” is.
  • 61. The Conversation Prism 2008
  • 62. What matters: Who and where is your customer? Early adoption isn’t strictly required in social: it’s okay to be a fast follower.
  • 63. #6 Get comfortable with transparency.
  • 64. Transparency means saying I’m sorry when and how you should. This  is  not  an  apology.  
  • 65. Transparency means saying I’m sorry when and how you should. This  is  an  apology.  
  • 66. Transparency means saying I’m sorry so well, the response is positive.
  • 67. Transparency means operating on the customer’s schedule h8p://portent.co/13niAox  
  • 68. Transparency means sharing your corporate values.
  • 69. #7 People’s names are the new black.
  • 70. Which link would YOU click? Implement Google Authorship ASAP.
  • 71. #8 It’s still about who your friends are.
  • 72. You need inbound links (and social mentions) from real friends, not link spam.
  • 73. You need inbound links from real friends, not link spam. This  link  is  worth  its  weight  in  gold.  
  • 74. #9 If you build it, they won’t necessarily come.
  • 75. This makes me sad.
  • 76. This makes me happy.
  • 77. #10 Get familiar with your audience’s random affinities (or at least start thinking about affinities).
  • 78. Random affinities h8p://portent.co/13A3s2A  
  • 79. That’s all ten truths! WHEW!
  • 80. But wait…
  • 81. SO TRUE IT HURTS I’ve got a Spinal Tap fact:
  • 82. #11 You’re the roadblock to determining the ROI of your content and social programs.* * but you don’t have to be. So get on that.
  • 83. THANK YOU FOR ATTENDING
  • 84. LET THE content awesome COMMENCE! #ROIWTF
  • 85. Me: @saralingafelter @portent an Internet Marketing Company http://portent.co/ROIWTF #ROIWTF