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Eric Boggs

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Eric Boggs

  1. 1. Presented November 16, 2011 at Social Media Plus
  2. 2. @argylesocial @ericboggs @jthandy
  3. 3. In God we trust. All others must bring data. W. Edwards Deming
  4. 4. In God we trust. All others must bring data. W. Edwards Deming There is no “data” confirming that Deming actually said this.
  5. 5. “ On the web, (this quote) has been widely attributed to Deming and Robert W. Hayden; however Prof. Hayden told us that he can claim no credit for this quote, and ironically we could find no ‘data’ confirming Deming actually said this.” The Elements of Statistical Learning, 2 nd Edition, Preface Hastie, Tibshirani, Friedmand
  6. 6. “ On the web, (this quote) has been widely attributed to Deming and Robert W. Hayden; however Prof. Hayden told us that he can claim no credit for this quote, and ironically we could find no ‘data’ confirming Deming actually said this.” The Elements of Statistical Learning, 2 nd Edition, Preface Hastie, Tibshirani, Friedmand Beware rules of thumb. Data reveals the truth.
  7. 7. A Delicious Slice of Argyle User Data <ul><li>Aggregated and anonymous </li></ul><ul><li>December 2010 through May 2011 </li></ul><ul><li>70k+ posts </li></ul><ul><li>381 organizations; all industries, all sizes </li></ul>
  8. 8. Definitions <ul><li>Post: a single piece of content published via Argyle Social. </li></ul><ul><li>Click: a redirection from an Argyle short URL, published via Argyle Social. </li></ul><ul><li>Conversion: direct or indirect completion of an Argyle Goal as a result of a click on a post published via Argyle Social. </li></ul>
  9. 9. Conversions? <ul><li>Social Media Marketing = Marketing </li></ul><ul><li>Marketing = Driven By Outcomes </li></ul><ul><li>If A=B & B=C, then A=C. </li></ul>
  10. 10. Insight #1 RSS Automation Works
  11. 11. Insight #1 RSS Automation Works RSS automation is just as effective as posting manually.
  12. 12. Insight #2 Scheduled Posts Generate Clicks, Not Conversions
  13. 13. Insight #2 Scheduled Posts Generate Clicks, Not Conversions Scheduled posts drive traffic. Timeliness drives conversions.
  14. 14. Insight #3 Hashtag Stuffing Doesn’t Work
  15. 15. Insight #3 Hashtag Stuffing Doesn’t Work Don’t target content to hashtags. Target hashtags to content when relevant.
  16. 16. 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.
  17. 17. 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. Over-curating is ineffective. Over-promoting isn’t as ineffective as you might think.
  18. 18. <ul><li>Slides at ar.gy/socialmediaplus </li></ul><ul><li>Thank you very much. </li></ul><ul><li>Eric Boggs </li></ul><ul><li>@ericboggs </li></ul><ul><li>http://argylesocial.com </li></ul>Do or do not. There is no try. ~Albus Dumbledore
  19. 19. A Brief Aside Re: Conversions 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.
  20. 20. DATA-DRIVEN SOCIAL MEDIA MARKETING <ul><li>Practicing </li></ul>
  21. 21. The Social Media Marketing Funnel <ul><li>Your goal as a marketer is to move people down the funnel. </li></ul><ul><li>Key Insight: every step is measurable. </li></ul><ul><ul><li>Awareness: Fans </li></ul></ul><ul><ul><li>Interest: Clicks </li></ul></ul><ul><ul><li>Action: Conversions </li></ul></ul>
  22. 22. Measuring Awareness: Fans <ul><li>Raw numbers and trends are easy but not very instructive. Compare with something real to make judgments: </li></ul><ul><ul><li>B2B Compare total fan count to lead count. Aim for 1:1 ratio. </li></ul></ul><ul><ul><li>Consumer Products Compare fan count to customer count. Aim for 1:1 ratio. </li></ul></ul><ul><ul><li>Newspapers & Blogs Compare fan count to website uniques. Aim for 15%. </li></ul></ul><ul><li>How many fans do you have? </li></ul>Fan count is important, but it’s just one of many numbers that lead to success in social media marketing. Fan / Follower counts are important for normalizing other social media marketing metrics!
  23. 23. Measuring Interest: Clicks Metrics in Action Increase in clicks is driven by increase posting frequency Increase in clicks is driven by more engaging content Decrease in clicks is driven by less engaging content Decrease in posts is drive by fewer posts—easy to fix! Clicks Posts Clicks per Post Which is better? Which is worse?
  24. 24. Measuring Action Requires Attribution <ul><li>Social media builds awareness and interest in your brand but doesn’t usually lead directly to sales… </li></ul><ul><li>… but you can still measure its impact on revenue! </li></ul><ul><li>The secret: use multi-touch conversion tracking. </li></ul>
  25. 25. Measuring Action: Conversions <ul><li>KPIs </li></ul><ul><li>Revenue </li></ul><ul><li>Conversion count </li></ul><ul><li>Revenue per conversion </li></ul><ul><li>Conversion rate </li></ul><ul><li>Key Questions </li></ul><ul><li>What is your call to action strategy? </li></ul><ul><li>What offers work best? </li></ul><ul><li>Are you using landing pages? </li></ul>

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