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Understanding the Impact of Social Media


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Understanding the Impact of Social Media

  1. 1. Understanding the Impact of Social Media<br />@argylesocial<br />@ericboggs<br />@covati<br />
  2. 2. Argyle Social helps marketers understand the impact of social media.<br />
  3. 3. How do you understand the impact of social media marketing efforts today?<br />
  4. 4. Engagement is a core tenet of any social media marketing program.<br />
  5. 5. Engagement – and your social media marketing efforts in general – should eventually lead to dollars.<br />
  6. 6. Without a commitment to measurement, you’ll have no idea if you’re creating value or wasting time.<br />
  7. 7. “What gets measured, gets managed.”<br />
  8. 8. PPC<br />Email<br />Social<br />
  9. 9. The Social Funnel<br />Conversion doesn’t complete the cycle - it re-frames the relationship. <br />Influencers may be outside the funnel<br />Engagement drives loyalty and repeat purchases<br />
  10. 10. Subscribers<br />Your people: Followers, Fans, Subscribers, etc.<br />Extend customer relationships online.<br />Key Metrics:<br />% customers subscribed<br />Growth rate, growth drivers<br />Hack:<br />Ask for social connection at all customer touch-points.<br />Link social subscribers to email subscribers.<br />Quantify customers / subscribers.<br />
  11. 11. People that raise their hand.<br />Engagement moves subscribers down the funnel.<br />Metrics:<br />Engagers / Subscribers – can you increase engagement?<br />Interactions by Content – what made people pipe up?<br />Hack:<br />Define “engagement” for your organization. <br />Inspect your data from different perspectives.<br />Engagers<br />
  12. 12. People that convey interest.<br />This stage may take different permutations.<br />Key Metrics:<br />Interactions per prospect<br />Prospects by content<br />Hack:<br />Define the threshold between engager and prospect.<br />Use web analytics parameters to build smarter links.<br />Let others do the asking for you.<br />Prospects<br />
  13. 13. People that rang the register.<br />Conversions should include repeat customers.<br />Metrics:<br />Revenue per content, per subscriber, per channel, per property, etc.<br />Lead time – from subscriber to conversion.<br />Hack:<br />Use web analytics parameters to build smarter links.<br />You can probably track this with existing tools.<br />Rinse, repeat.<br />Conversions<br />
  14. 14. Room For Improvement<br />These steps are squishy.<br />Causation is a big leap from correlation.<br />Attribution remains a problem.<br />This is still a manual process. For now… <br />
  15. 15. Try This Tomorrow:<br />Find ways to differentiate your audience.<br />Snapshot metrics that reflect separate stages.<br />Try to move the needle week-over-week.<br />Tip:<br />
  16. 16. Try This Tomorrow:<br />Tip, cont’d:<br />Create a new Gmail account.<br />Export your email list, import to Contacts.<br />Use the Contact finder on Twitter/Facebook/etc. to find your customers.<br />Count / Follow / Engage / Etc.<br />
  17. 17. Try This Tomorrow:<br />Publish all social content via single platform.<br />Append analytics parameters to your links.<br />Track the impact of your content.<br />Tip: <br />Link with Tweetdeck across your team.<br />More? Check out Argyle, Spredfast, CoTweet.<br />
  18. 18. Try This Tomorrow:<br />Find your top-performing content.<br />Re-schedule it for the next several months.<br />Thank me later.<br />Tip of the hat: Phil Buckley<br />Tip: <br />Vary timing to determine if it is significant.<br />Make sure to segment tracking data.<br />
  19. 19. When working on other marketing programs, ask yourself why your social media marketing programs don’t have the same rigorous approach.<br />
  20. 20. Feedback? Questions?(Thank you.)Eric Boggs - eric@argylesocial.comAdam Covati –<br />