Revenue-Driving Social Media -  Webinar
 

Revenue-Driving Social Media - Webinar

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Revenue-Driving Social Media -  Webinar Revenue-Driving Social Media - Webinar Presentation Transcript

  • 5 Steps to Revenue-DrivingSocial MediaMike Turner Chandler GaltDirector of Business Client RelationsDevelopment Coordinator
  • Who are we? / Fast growing. Award winning. Top 10 in Bay Area’s 100 Top 500 Fastest Growing Fastest Growing Companies Private US Companies
  • Who We Are / providing: Search Engine Optimization Paid Search Advertising Display Advertising Social Media Website Design Content Creation Custom Measurement and Attribution
  • Clients / We are experts at growing revenue for clients with cost-effective digital marketing.
  • Agenda 1 State of Social Media 2 Step 1: Define your Social Media KPIs 3 Step 2: Make the Business Case with Analytics 4 Step 3: Integrate Social into your larger strategy 5 Step 4: Measure revenue contribution with Attribution 6 Step 5: Close the loop and make data-driven decisions
  • State of Social Media 90% of B2B and B2C companies have some level of Social Media engagement 70% describe themselves as moderately to fully engaged, and 40% “very” to “fully” engaged 90% are managing their Social Media in-house*2012 State of Digital Marketing Survey, Webmarketing123
  • State of Social Media Perception: B2B marketers are far less engaged than B2C in Social Media Reality: B2Bs are closing the gap. 63% of B2Bs are engaged with social media, vs. 70% of B2Cs*2012 State of Digital Marketing Survey, Webmarketing123
  • State of Social Media of companies that are active on 2/3 Facebook generate leads. 50%+ Close deals from Facebook leads.*2012 State of Digital Marketing Survey, Webmarketing123
  • State of Social Media 57% Are unable to attribute ROI from Social Media efforts. *2012 State of Social Marketing Survey, Awareness Inc.
  • Step 1:Define your Key Performance Indicators (KPIs)How do you measure performance?“Likes” and “number of followers” are not good indicators of performance.Better to use Conversions from Social:Purchases, email opt-ins, demo requests, shares, downloads, or time spenton the website, etc.Set-up “Goals” in Google Analytics for these KPIs.
  • Track KPIs over time with a Scorecard
  • Track KPIs over time with a Scorecard
  • Step 2:Make the Business Case with AnalyticsSocial reports help you measure the impactsocial media has on your business goalsand conversions.
  • Step 2:Make the Business Case with AnalyticsConversions report enables social media marketing accountability -and clearly shows how social impacts your business. See the impact of social on your goals in simple, ready-to-use reports Learn what content drives conversions with social audiences The Conversions report can be found in the Standard Reporting tab under Traffic Sources > Social > Conversions.
  • Step 2:Make the Business Case with AnalyticsConversion report:
  • Step 2:Make the Business Case with AnalyticsAssisted Conversions Report:
  • Step 2:Make the Business Case with AnalyticsAssisted Conversions Report:
  • How do you calculate the value of aSocial Media Fan/Follower?
  • Step-by-Step Calculationof the Cost of Not Having Social Media Fans/Followers1. Amount of referral traffic from Social Networks2. Conversion Rate3. Social Visitor-to-Lead Rate4. Raw Lead-to-Qualified Lead Rate5. Qualified Lead to Closed Deal Rate6. Average Deal Size7. (# of Closed Deals) x (Avg. Deal Size) = Revenue Potential Knowing the opportunity is step 1. Are you closing the loop?
  • Step 3:Integrate Social into Larger Digital StrategyBuyers are 57-70% of the way through their purchaseprocess prior to engaging your sales reps.Brands must have quality andshareable content present in multiplechannels, including Social Media.
  • Step 3:Integrate Social into Larger Digital StrategyLeverage Social Data to better: Understand your customer Establish stronger relationships Drive Content MarketingKnow what’s resonating with yourcustomer base and build more contentaround that theme. This will also ensureyou’re ranking highly for these relevantthemes in search engines.
  • Social media is like SEO in that it is aninvestment in the longer-term brand healthand in audience growth. Those lead to sales– directly, even if we cant alwaysmeasure them directly.. $
  • Step 4:Measure Revenue ContributionTrack each interaction that a customer takes with your brand ontheir path to becoming a customer.Use Full Attribution tracking to measure and assign valueto each interaction someone makes with your brand.How? Tag all posts, shares, and content links within yoursocial media campaigns.From original visit>> through conversion >> and into CRM.http://support.google.com/analytics/bin/answer.py?hl=en&answer=1033867
  • What is Marketing Attribution? Give credit where credit is due Attribution is about assigning a value to a marketing action that results in a reaction (i.e. conversion or sale) from your target (i.e. customer). FB Post – Don’t Conversion Visit forget to Tag! Types your URL Directly in Browser 2 Week Break SALE Receives Email First Visit Second Visit * On average, B2B decision makers will wait two weeks after their initial visit before converting (Google Think B2B Study)
  • 2 Introducing FACTS Full Attribution CRM Tracking SystemAllows for 360 tracking from initial keyword search to closed opportunity by uncovering data from Google Analytics and Salesforce CRM into unified view.
  • 2 Introducers Marketing channel that introduced prospect to website, i.e. “first touch”
  • 2 Influencers Visits that happened after the first click and before the final conversion
  • 2 Conversions Digital channel that led to form fill out, i.e. raw lead generated
  • 2 Pipeline “Opportunities” in Salesforce that are being pursued
  • 2 Closers “Closed won” opportunities; i.e. marketing channel that led to closed deal
  • 2 Why Digital Marketers Need This Full Funnel Digital Visibility - Most marketers would attribute sales to last touch, i.e. “closers”
  • 2 Why Digital Marketers Need This Full Funnel Digital Visibility - Reality is that there are several - Most marketers would touch points before the “closer” that attribute sales to last influenced the purchase decision touch, i.e. “closers”
  • 2 Benefits of This Tracking 360 Tracking << Linkedin was the introducer, but is getting NO credit by your current last click attribution model. - Ability to tie ad spend back to leads and sales. - Allocate resources to campaigns that generate sales!
  • Step 5:Close the loop. Make data-driven decisions.Start refining marketing program allocation based on actualrevenue instead of just leads or conversions. Revenue Campaign Allocation Opportunity Campaign A $85,000 $ $ Campaign B $60,000 $ Campaign C $275,000 $ $ $ $
  • Key Takeaways Tracking share of voice & other fuzzy Social Media metrics is no longer good enough For B2B there is a way to track ROI from Social – Attribution! Close the loop on measurement and get the most out of your marketing investments
  • We invite you to… Download: 2012 State of Digital Marketing Report webmarketing123.com Talk to a digital marketing expert: SEO/PPC/Social Media Marketing Measurement/Analytics Approach Lead Gen Effectiveness Email: contact@webmarketing123.com TEAM UP WITH AN AWARD- WINNING AGENCY (2012)