Making Dollars and Cents of Social Media: Part 2
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Making Dollars and Cents of Social Media: Part 2

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This two part webinar series is hosted by Progress Partner Marketing. Key topics: ...

This two part webinar series is hosted by Progress Partner Marketing. Key topics:

1. Social media and the marketing world: What’s new, and why you should care?
2. The evolution of content marketing: The intersection of stories, search and social
3. Eyes vs wallets: The two major social marketing strategies
4. How to measure your awareness-building campaign
5. How to measure your lead generation campaign
6. What’s next: Where is this technology and marketing heading?

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  • Thank you for joining today’s webinar: Making dollars and cents of social media, driving revenue growth through content marketing. This two part webinar series is hosted by Progress Partner Marketing.

    …..before we get started let me take you through a few “housekeeping items”
  • When you joined this Webinar, you saw the pop up window with details on the US toll and toll-free dial in numbers. You can view international dial in numbers by clicking on the link “View Global Numbers”.
  • If you inadvertently close this window, you can access it again by clicking on “Communicate” > “Teleconference” and “Join Teleconference” from the top menu bar.
  • 1) If you accidentally disconnect your audio connection, select “Communicate” and then “Join Audio Broadcast” to reconnect.
    2) If your sound card experiences difficulty, you can request a phone connection by clicking on the “Phone Request” button seen highlighted with the red square.
    3) Submit your questions and contact today’s host via the Chat Window – we will collect all questions through this chat window. NOTE: please make sure you send to “All Panelists”

    Final Note: we are recording today’s webinar and will post this along with session 1 on to PartnerLink

  • Thank you for joining today’s webinar: Making dollars and cents of social media, driving revenue growth through content marketing. This two part webinar series is hosted by Progress Partner Marketing.

    My name is Chuck Sicard, Global Partner Marketing Manager here at Progress and I am thrilled to be hosting today.

    As mentioned, this is the 2nd part of the 2-part webinar series. Part 1 focused on: Aligning Your Program, today for Part 2 we will focus on Measuring Your Success.

    The presenter is Todd Van WHO-zeer
  • Todd Van WHO-zeer is vice president of public relations and stakeholder engagement at HB Agency, an integrated marketing and communications agency based in the Boston area. Todd’s clients have included some of the biggest brands in telecommunications, engineering, publishing and technology. Todd helps his clients find, craft messages for, engage and help create lasting relationships with influencers and community members. In addition to his work with HB, Todd teaches marketing communications at Boston University and is a fellow of the Society for New Communications Research. Todd, take it away!
  • Am I right?
  • Nobody can say it better than Gary Vaynerchuk when it comes to social media and ROI. I’d play you his video on ROI, but this is a family-friendly webinar and if you’ve ever seen him speak, you’ll know what I’m talking about. Just google that quote there (after the webinar please), put some headphones on so as to not alarm your colleagues with his NSFW language, and you’ll see what I’m talking about.
    M
  • ROI is a calculation of value. But value doesn’t just come in a pure monetary form. We’ll come back to a discussion about value in a few minutes, but first, let’s explore ROI a little deeper.
  • This is especially true in the world of social media. You think Facebook is free? Think again!

    As we say in the social media world, “if you’re not paying for the product, you ARE the product.”

    There are a lot of tangibles in calculating social media ROI, and even more intangibles. Let’s talk about both.
  • Attribution is the hard part…
  • By looking at this graph, can we clearly attribute the rise in leads to the increase in blog traffic? Is there causality, or mere correlation? The trick is to leave as little to the imagination as possible. One very important way to do that is to track clicks carefully using the powerful combination of Google Campaign Codes, link shorteners and Google Analytics. If you want a refresher on how that works, take another listen to the first webinar in this series.
  • There are even more basic awareness metrics, like measuring views and potential views.
  • Nobody can say it better than Gary Vaynerchuk when it comes to social media and ROI. I’d play you his video on ROI, but this is a family-friendly webinar and if you’ve ever seen him speak, you’ll know what I’m talking about. Just google that quote there (after the webinar please), put some headphones on so as to not alarm your colleagues with his NSFW language, and you’ll see what I’m talking about.
    M
  • Some CIOs are now reporting to the CMO

    Responsive = nimble. Real time marketing

    h/t to David Armano of Edelman

Transcript

  • 1. Making Dollars and Cents of Social Media Driving Revenue Growth Through Content Marketing Session 2: Measuring Your Success Hosted by: Progress Partner Marketing Presenter: Todd Van Hoosear, VP, Public Relations & Stakeholder Engagement at HB Agency
  • 2. © 2014 Progress Software Corporation. All rights reserved.2 Joining the webinar audio by telephone
  • 3. © 2014 Progress Software Corporation. All rights reserved.3 Joining the webinar audio by telephone
  • 4. © 2014 Progress Software Corporation. All rights reserved.4 Listening to the webinar audio via your computer If you accidentally disconnect your audio connection, select “Communicate” and then “Join Audio Broadcast” to reconnect. “Phone Request” button  Submit your questions via the Chat Window
  • 5. Making Dollars and Cents of Social Media Driving Revenue Growth Through Content Marketing Session 2: Measuring Your Success Hosted by: Progress Partner Marketing Presenter: Todd Van Hoosear, VP, Public Relations & Stakeholder Engagement at HB Agency
  • 6. Making Dollars and Cents of Social Media Todd Van Hoosear, VP, Public Relations & Stakeholder Engagement at HB Agency
  • 7. © 2014 Progress Software Corporation. All rights reserved.7 Your Program Leader • You’ll have questions, ideas and concerns • We’ll have a Q&A at the end of this call • Or you can tweet your questions to me @vanhoosear using the #smprgs hashtag • Or you can email me privately at vanhoosear@hbagency.com
  • 8. © 2014 Progress Software Corporation. All rights reserved.8 Outcomes: What You’ll Get Out of This Program  You’ll know how to find your current and prospective customers online and build a content marketing program that reaches them  You’ll be familiar with accepted and emerging marketing measurement techniques on the major social media platforms  You’ll know how to measure your success http://www.flickr.com/photos/tworubies/5212375665/
  • 9. © 2014 Progress Software Corporation. All rights reserved.9 Agenda – Day 1 1. Social media and the marketing world: What’s new, and why you should care? • Key Question: Where online are your customers, competitors and influencers? 2. The evolution of content marketing: The intersection of stories, search and social • Key Question: Which content forms are resonating with your customers and influencers? 3. Eyes vs wallets: The two major social marketing strategies • Key Question: Which of the two key strategic marketing approaches will you take?
  • 10. © 2014 Progress Software Corporation. All rights reserved.10 Agenda – Day 2 4. How to measure your awareness-building campaign • Key Question: Are your marketing efforts reaching the right people? Are they converting? 5. How to measure your lead generation campaign • Key Question: Which sources, campaigns and nurturing activities generate the most value? 6. What’s next: Where is this technology and marketing heading? • Key Question: How should you prioritize your marketing efforts in 2015?
  • 11. © 2014 Progress Software Corporation. All rights reserved.11 But First, By Special Request: How to Look Like a Content Marketing Star “But I don’t have time for social media!” - Almost every CEO I’ve worked with
  • 12. © 2014 Progress Software Corporation. All rights reserved.12 A Day in the Life of a Content Marketer  6am: Check Twitter  6:15am: Check Twitter again. Anything new?  6:30am: Check Twitter. Did someone just tweet at me?  6:45am: Check Twitter yet again. Why hasn’t anybody tweeted me?  7:00am: Drive to work. How am I supposed to check Twitter?  7:30am: This Twitter withdrawal is going to kill me!  8:00am: Finally, I can check Twitter again.  … etc., ad infinitum
  • 13. © 2014 Progress Software Corporation. All rights reserved.13 My Secret Sauce 1. I subscribe to my favorite blogs via • Feedly (for reading on my mobile phone) • Email subscriptions 2. I aggregate my favorite blog content into a single email using Yahoo! Pipes, IFTTT and Feedburner so I get one or two emails a day with headlines and links 3. If I find an article I want to curate and share, I use two browser plugins…
  • 14. © 2014 Progress Software Corporation. All rights reserved.14 Buffer
  • 15. © 2014 Progress Software Corporation. All rights reserved.15 Hootsuite
  • 16. © 2014 Progress Software Corporation. All rights reserved.16 A Real Day in the Life of a Content Marketer  6am: Check Twitter  6:15am: Check email quickly  6:30am: Get ready for work  7:00am: Head into office  8:00am: Read my digests and blogs and curate  8:30am: Get on with the real work… (Oh yeah, and check Twitter)
  • 17. © 2014 Progress Software Corporation. All rights reserved.17 Next: A Word (or Two) About ROI “What is the ROI of your mother?” - Gary Vaynerchuck
  • 18. © 2014 Progress Software Corporation. All rights reserved.18 So, You Want to Calculate ROI?  ROI is just 1 metric  It may not even be the most important metric!
  • 19. © 2014 Progress Software Corporation. All rights reserved.19 What Does ROI Measure?
  • 20. © 2014 Progress Software Corporation. All rights reserved.20 Remember, Nothing is …
  • 21. © 2014 Progress Software Corporation. All rights reserved.21 The Tangibles of ROI (Gain from Investment – Cost of Investment) Cost of Investment ROI (%) =  Gain: Total revenue generated that can be attributed to the program / campaign (If the program or campaign is not aimed at revenue generation, you can substitute “cost savings”)  Cost: Total cost of program / campaign, including:  Staff time, calculated by FTE %age of salary or hourly rates  Hard costs
  • 22. © 2014 Progress Software Corporation. All rights reserved.22 The Intangibles of ROI  Attribution can be difficult to determine http://gillin.com/blog/2010/06/how-to-calculate-social-marketing-roi/
  • 23. © 2014 Progress Software Corporation. All rights reserved.23 Calculating Value – Not Just $$ http://gillin.com/blog/2010/06/how-to-calculate-social-marketing-roi/
  • 24. © 2014 Progress Software Corporation. All rights reserved.24 An Approach to Measuring Both Awareness-Driven and Lead Generation Focused Campaigns
  • 25. © 2014 Progress Software Corporation. All rights reserved.25 Valuation is Just One of Five Key Metric Categories 1. Inputs 2. Outputs 3. Outtakes 4. Outcomes 5. Valuation http://bit.ly/1qMJEep *  Hat tip (or h/t as we say in social media) to “Measurement Queen” Katie Paine  If you click the link below, you’ll go to http://www.hbagency.com/sight plan/?utm_source=ProgressJu ne2014Webinar&utm_medium= webinar&utm_campaign=speak ing
  • 26. © 2014 Progress Software Corporation. All rights reserved.26 Inputs (Important for Both)  A fair description of what your team had to work with to start off with  Goal: Share responsibility for success and failure with all relevant parties  Sample inputs that I use in my job as an agency PR and social media guy: http://bit.ly/1qMJEep *
  • 27. © 2014 Progress Software Corporation. All rights reserved.27 Outputs (Important for Both)  The direct result of marketing efforts as measured by the physical product (content) generated by your team  Goal: Measure the “thud factor” (a very traditional PR metric)  Sample output metrics that I use in my job as an agency PR and social media guy: * Weighted by the Four Rs of Influence 1. Reach 2. Relevance 3. Reputation 4. Receptivity http://bit.ly/1qMJEep *
  • 28. © 2014 Progress Software Corporation. All rights reserved.28 Outtakes (Ideal for Measuring Awareness-Driven Programs)  How people change their thinking as a result of your outputs (efforts)  Goal: Demonstrate how you’re changing minds.  Sample outtake metrics that I use in my job as an agency PR and social media guy: http://bit.ly/1qMJEep *
  • 29. © 2014 Progress Software Corporation. All rights reserved.29 Outcomes (Ideal for Measuring Lead Gen-Focused Programs)  How people’s behavior change as a result of your outtakes  Goal: Move people further down the sales funnel at every engagement  Sample outcome metrics that I use in my job as an agency PR and social media guy: http://bit.ly/1qMJEep *
  • 30. © 2014 Progress Software Corporation. All rights reserved.30 Valuation  ROI is a useful way to calculate value  However, as we’ve discussed, it’s only one measure of value  Also, it doesn’t fall neatly into any of the four previous categories we’ve identified  In fact, it spans a few of them  The industry is working on better ways to measure and calculate the value of its tools, services and techniques  Until our vendors make the effort to embrace standards and interact with other vendors to create new standards, the work is left to us, the marketing practitioners tasked with demonstrating the value of all of our efforts  Two other useful explorations of social media and marketing ROI/valuation: http://www.wikihow.com/Measure-Social-Media-ROI and http://www.socialmediaexaminer.com/measure-social-media-roi/
  • 31. © 2014 Progress Software Corporation. All rights reserved.31 Awareness vs Engagement in Social Media
  • 32. © 2014 Progress Software Corporation. All rights reserved.32 Facebook (Page Insights)
  • 33. © 2014 Progress Software Corporation. All rights reserved.33 LinkedIn (Group Statistics)
  • 34. © 2014 Progress Software Corporation. All rights reserved.34 Twitter (Ads Analytics)
  • 35. © 2014 Progress Software Corporation. All rights reserved.35 Twitter (TweetReach)
  • 36. © 2014 Progress Software Corporation. All rights reserved.36 Blogs and Websites (Share of Voice – Awareness)
  • 37. © 2014 Progress Software Corporation. All rights reserved.37 Blogs and Websites (Google Analytics – Acquisition)
  • 38. © 2014 Progress Software Corporation. All rights reserved.38 Blogs and Websites (Google Analytics - Goals)
  • 39. © 2014 Progress Software Corporation. All rights reserved.39 What’s Next? How should you prioritize your 2015 marketing efforts?
  • 40. © 2014 Progress Software Corporation. All rights reserved.40 The Top 7 Social Media Marketing Trends Dominating 2014 1. Social Media is Up. With 92% of business owners indicating that social media is important to their business in 2014, many are re-allocate budgets away from traditional methods of advertising towards social media and other inbound marketing strategies 2. Google+ is Down. With Google announcing earlier this year that social signals are not part of their ranking algorithm and the recent decision to remove Authorship photos from the search results, it’s not surprising that some marketers are confused about how Google+ is different or better than Facebook or Twitter. 3. Images are Up. Pinterest, Instagram and Twitter images are increasingly popular. 4. Videos are Up. Vine, Instagram video usage is up, but penetration is still low: only 28% of brands use Instagram and 7% of brands use Vine. 5. Foursquare is Down. Location-aware apps are ever-popular, but Fousquare’s recent efforts to split its app has led to confusion and a decline in usage. 6. Myspace isn’t Dead Yet. Myspace got a new look last year, but has been slow to reach any kind of critical mass. But with ambiguity around Google+, there could be opportunity to grow. 7. LinkedIn is Up. Way Up. It’s not the only home for B2B marketing anymore, but recent efforts to drive more views and engagement seem to be paying off. http://onforb.es/1ACfEUD
  • 41. © 2014 Progress Software Corporation. All rights reserved.41 What to Expect in 2015  The Collaborative Economy will extend its reach everywhere  Ephemeral media and the right to forget will battle it out against fans of forgiveness  The CMO is rising  The machines are coming  Responsive brands rule Your ebook on these and other major trends will be arriving next week for all the participants in the live webinar. http://onforb.es/1pI6U6O
  • 42. Questions Todd Van Hoosear: vanhoosear@hbagency.com @vanhoosear