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Conversion vs Conversation: Tracking Your Company's Impact on Social Media
This document provides an overview of a presentation titled "Conversion vs. Conversation" about tracking a company's impact on social media. The key points covered in the presentation include: - Defining conversion and conversation in the context of social media, with conversion referring to measurable goals like leads or purchases and conversation referring to discussions and mentions. - Discussing different types of content strategies for social media and how to post and promote content. - Exploring how to generate "earned media" through digital word-of-mouth marketing using tools like Facebook Connect. - Looking at attribution analytics and how to determine the effectiveness of social media efforts by tracking metrics like traffic sources and campaign codes.
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Conversion vs Conversation: Tracking Your Company's Impact on Social Media
- 1. "Conversion vs. Conversation" TrackingYour Company's Impact On Social Media Presented By: Michael Weisfeld April 2010
- 2. Who is MichaelWeisfeld? Dir. of Social Media & Senior Web Strategist for BusinessOnLine Building Websites & Strategies since 2002 Areas of Web Expertise: Strategy Social Media Search Engine Marketing Usability Business Analyst Background in “Big 5” Management Consulting @mrweisfeld
- 3. Housekeeping … toget the slides Request a 1-on-1 lab online BMA will send or give me your business card for today’s slides http://www.businessol.com/forms/labs 1 2 @BOLSocial if Tweetting about this session, please use this hashtag: #BMA Follow the BusinessOnLine Social Media team on Twitter at:
- 4. Poll: Is YourCompany Social?
- 5. Agenda Review: stats &trends Explore: social media 301 & participation profiles Present: Conversion vs. Conversation Content Strategy Generating Earned Media Attribution Analytics Conclusion QUESTIONS ??? please hold until the end of the presentation .. there will be time.
- 6. SOCIAL MEDIA LANDSCAPE Stats& Trends
- 7. Invention of web2.0 technology
- 9. 93%of Americans expect companiesto have a presence in Social Media Source:Cone,Inc.
- 10. Increase in TimeSpent on Social Media Average time spent by Tweeters using Twitter 2 ¾ hours per day Source: MarketingProfs, LLC Spent on Facebook each day (worldwide) 3.5 billion minutes Source: facebook.com Hours of video is uploaded to YouTube 10 hours every minute Source: youtube.com
- 11. Facebook Explosion 133,000,000 Highest recordin the site’s history unique visits
- 12. To put itin context … Facebook Market Share of Visits Tops Google’s
- 13. Facebook Explosion http://www.facebook.com/press/info.php?statistics (04.2010) 400,000,000+ The numberof people actively using Facebook – equivalent to the population of Indonesia, the world’s fifth-most populous country registered users
- 14. Facebook Explosion Digital BuzzBlog, Social Media Has Grown Up: Stats One Year On, 8.03.09 5,000,000,000 The number of minutes spent on Facebook each day min per day
- 15. Facebook Explosion Digital BuzzBlog, Social Media Has Grown Up: Stats One Year On, 8.03.09 1,000,000,000 The amount of content (web links, news stories, blog posts, notes, photos, etc.) shared each week on Facebook posts per week
- 16. Twitter Explosion Nielsen Online indicatesthat Twitter grew 1,382% year-over-year in February 475 7,038 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 Jan-08 Jan-09 Unique Audience (000)
- 17. Other Social MediaExplosion 56.30% 11.38% 40.98% 14.75% IncreaseinYearlyTraffic Source: Compete.com, 2/2009-2/2010
- 18. Adoption Demographics More stats … Source:http://socialmediagraphics.posterous.com/
- 19. Social Media isEstimated to Grow 34% Annually
- 20. SOCIAL MEDIA 301 Whatis Social Media Marketing?
- 21. Common Marketing Objectives •Drive Traffic • Build Product Awareness • Create Interest & Demand • Reinforce Brand Loyalty • Provide Information • Drive Leads • Increase Revenue • Newsletters • Special Events • Sponsorships • Promotions & Contests • Employee Relations • Community Philanthropy • Media Relations • Media Tours • Traditional Media • Speaking Engagements MarketingObjectives MarketingTactics Strategies
- 22. Trade Shows Association Meetings Magazines Direct Mail Distributor Shows Newspapers PPC Email Marketing Search Engine Optimization Catalogs Websites SocialMedia The Web Where does social media fit in?Online Traditional
- 23. …the same marketingobjectives • Drive Traffic • Build Product Awareness • Create Interest & Demand • Reinforce Brand Loyalty • Provide Information • Drive Leads • Increase Revenue • Blogs • Videos • Photo Sharing • Social Networks • Ratings / Reviews • Micro-Blogging • Social Voting • Widgets • Forums MarketingObjectives SocialMediaTactics Strategies
- 24. Interaction and facilitation ofthree-way conversations: company to consumers consumers to consumers consumers to company 1 2 3 Company Consumers Consumers Social Media The Optimal Flow of Information
- 25. Beyond the stats… Word of Mouth: People share information, ideas and make recommendations all the time. High level of trust
- 26. PARTICIPATION PROFILES How tousers behave in social media
- 27. Joiners Creators Spectators Inactives Critics Collectors Publish a blog Publishown web pages Write and post articles Upload self-created videos Comment on a blog Comment on a forum Rate/review products Contribute to a wiki Add tags to web pages/photos Vote for web sites online Use RSS feeds Visit social networking sites Maintain profile on social networking sites Read blogs Watch videos Read online forums Read ratings/reviews None of the above Social Media Profiles Conversationalists Updates status on social networking site Updates on micro-blogs
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- 30. Internal Brand Evangelists Definition: Internalstakeholders and staff members with a passion to spread the spirit and message of the brand, as a result improving the overall company.
- 31. Influencers Definition: Enthusiastic individuals equippedwith the resources to reach and impact others in a related market.
- 32. Detractors Definition: Participants who divertdialogue and/or degrade the overall quality of the social atmosphere, usually by violating one or more community policies.
- 33. CONTENT STRATEGY How topost and promote using SM
- 34. Determine the UserPath Search “Places to visit in Spain” Land on Squidoo w/ video on Spain Link to read PDF about Spain on Scribd URL to routing queries User Checks Fares & Schedules See New Blog Post on Facebook Feed Watch Embedded Video on Blog Link to France Landing Page Watch Video on Things to do in France User Checks Fares & Schedules SEO Social Media
- 35. User Centered Design FirstVisit / Anonymous User Activity 1 Activity 2 Repeat Visit / Authenticated User Activity 3 Activity 4 Authenticated Customer Activity 5 Activity 6
- 36. Develop a ContentStrategy Keep in mind your target personas Consider your resources and budget Establish an editorial calendar Discovery & Strategy Baseline buzz & analytics to fuel content ideation Keyword research Align content with marketing mix, marketing calendar, and content hosts Logistics Secure internal resources Develop content rollout timeline Purchase the necessary media Creation Create content Build digital asset charts for each piece of content Execution Launch Content Promote Content Maintenance Maintain Content based on Industry and Technological Trends Follow-up Promotions
- 37. Example Types ofContent Tip: try various types of content and measure fan interaction Personal Informative Transactional Interative •Photos •Videos •Games •Animation •Music •Forms •Online Applications •Contests •Reward Programs •Facts •Figures •Data •Knowledge •Statistics •Widgets •Testimonials •Stories •Comments •Questions •Badges
- 38. Post & PromoteProcess Ongoing Self-fueling Promotion Strategy & Planning Post Promotion Monitoring & Reacting Start Time High-level process for publishing existing content onto the social Internet: Step 1 Step 2 Step 3 Step 4
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- 40. Reach & Frequency Post& Promote and measure the effectiveness of your efforts.
- 41. Conversions Attribution Analytics The scienceof determining performance of each marketing and/or advertising initiative. KPI: conversion Lead Request Purchase Call / Inquiry
- 42. Conversations Buzz Monitoring The scienceof determining the mentions occurring on the social web. KPI: conversations Sentiment Topic Trends Volume
- 43. GENERATING EARNED MEDIA Digital“word of mouth” marketing
- 44. Facebook Connect Solution forintegrating Facebook features with a website Benefits: User Authentication Publish to news feed Personalization More Info on FB Connect: http://www.facebook.com/ connect http://developers.facebook. com/connect.php http://wiki.developers.faceb ook.com/index.php/User:Fa cebook_Connect_Live_Sites
- 45. Facebook Connect –BeeWell Miles
- 46. Facebook Connect –Earned Media Return on Investment (ROI) Each time a fan publishes their activity to their newsfeed, the value of the impression can be attributed to the cost of a paid advertisement. The overall value can be considered to be more due to its placement and affiliation to a friend. ROI = News feed impressions (#) x Cost of Ad ($) – Cost of Implementation ($)
- 47. ATTRIBUTION ANALYTICS Determining theeffectiveness of SM efforts
- 48. Attribution Analytics Challange 1 24 3 User reads article about TI on PubCon.com with no link User searches “Treasure Island” on Google User lands on treasureisland.com User books hotel room
- 49. Social Media Measurement Customer Stage What Sample Metrics Measurement IncreasedMeasurement Value Brand Manager, Corporate Communications Online Marketer Popular Tools Awareness Influence Action Output Outtake Outcome Who’s talking about you? What are they saying about you? What does it mean to your business? Share of voice, advertising, # of mentions, # of views Brand association, message awareness, qualitative assessment Site visits, registrations, conversions, ROI Google, Visible Technologies, Radian6, TrackUr, BuzzMetrics, Technorati, Cymfony, Techrigy BuzzLogic, BuzzMetrics, Techrigy, Cymfony, Visible Technologies Web Analytics
- 50. Online Attribution Analytics Total Website Traffic DirectLink with Click Direct Link without Click No Direct Link
- 51. Last Click Attributionis Not Always Accurate Last Click Attribution refers to crediting the last click that a user made to a site conversion. In reality, conversion may have been caused by a number of touch points in the form of PR, social media, video, etc. Understanding how these assets affect your search volume and conversion rate is critical in determining which of your online marketing initiatives are most effective.
- 52. Campaign codes foroutbound SM links Source: Facebook Page Name Medium: Facebook Page Tab Name: Description of the Link 1 2 3 4 5 6 7 8 9 Example: http://www.beewellmiles.com/BCNOS/?utm_source=BWM %2BFacebook&utm_medium=Boxes&utm_campaign=BW M%2B2_5
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- 54. Attribution Analytics –SM Segment
- 55. Attribution Analytics –SM Segment
- 56. Attribution Analytics Applications Search- Measure the impact of social media, PR and video on driving brand related search activity. Social Media – Measure the impact of social conversations across all traffic channels. Online PR – Measure the impact of online PR and news coverage across all traffic channels. Bookmarks – Measure what portion of the bookmark traffic was affected by social media, PR and video. Competitive Analysis – Measures the percent of your website visitors who also visited a competitor’s website.
- 57. WHAT CONSTITUTES SUCCESS? SocialMedia Efforts Are Measurable
- 59. Quantitative Measurements Number offans Number of comments, posts, threads Number of widget downloads Number of feed subscribers Number of pages bookmarked Number of bloggers engaged Number of blog posts per blogger Total number of blog posts Number of friends/followers Number of social network page views Number of event responses/subscribers There are numerous KPIs to track for social media. Total traffic driven to destination page Total email subscriptions Number of new links secured by Social media marketing Total text subscriptions Number of video views Number of Ratings, Reviews and Votes Number of pages forwarded Conversion rate of referral traffic Time on Site Brand Sentiment Mood of conversational marketing
- 60. Qualitative Measurements Corporate Reputation Negative/PositiveRelationship Ratio Customer Opinions and Wishes
- 61. Social Media BuzzMonitoring Dashboard
- 62. Social Media effortscan be held to familiar KPI’s: Frequency Reach Impact ROI = BENEFITS – (COSTS + RISKS) COSTS + RISKS Measuring Success “These will be cumulative events and interactions that will build loyalty for the companies that pay attention to them.” Scott Monty, Ford Peter Kim, Social Media Predictions 2009, 12/15/2008
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- 65. WRAP UP Conclusion &Questions
- 66. Conclusion It is notenough to just throw up a page Participate in relevant and active communities There is not one “right” platform Integrate across platforms to connect and cross promote Understand there are different types of internet users Measure metrics like frequency, reach, and satisfaction 1 2 3 4 5 6
- 67. Handout: Social MediaParticipation Matrix Review Discuss Determine
- 68. Questions? Michael Weisfeld P 619.699.0767x247 Michael.Weisfeld@BusinessOL.com Twitter: @mrweisfeld http://www.linkedin.com/in/michaelweisfeld Brought to you by: @BOLSocial if Tweetting about this session, please use this hashtag: #BMA Follow the BusinessOnLine Social Media team on Twitter at:
- 70. APPENDIX Additional Information andResources
- 71. Strategy & SMNewsletters and Blogs Jeremiah Oywang (http://www.web-strategist.com/blog/) SmartBrief Newsletter (http://www.smartbrief.com/socialmedia/index.jsp?campaign=webIndustries) Mashable (http://mashable.com/) Chris Brogan (http://www.chrisbrogan.com/) David Armano (http://darmano.typepad.com/) Peter Kim (http://www.beingpeterkim.com/) TechCrunch (http://www.techcrunch.com/) MarketingCharts (http://www.marketingcharts.com/) SocialMedia Insider (http://www.mediapost.com/publications/?fa=Archives.showArchive&art_type=66)
- 72. Groundswell "(The book) isnot so much a manifesto or a dissection of online culture as it is a how-to manual for executives and mid- level managers trying to navigate this fast-changing and often confusing environment." — Ideas: Book Review, Financial Times "A new book by two researchers explains how companies' reputations can be tarnished by the cacophony of Internet commentary, and how they can fight back.“ — Broadsided, The Boston Globe
- 73. Google Alerts –blogs, news Technorati - blogs Alltop – blogs, news Backtype – blog comments Yacktrack – social comments BoardReader – forums Twitter Search – microblog Social Mention – all Filtrbox – filter results Free Tools Paid Tools Tools for Marketers Buzzlogic Radian6 TNS Cymfony Trackur Brands Eye BoardReader Cision Nielsen Sentiment Metrics
- 74. More Info: SocialMedia Webinar Title: Is your Company Social? Planning a successful social media program. Release: December 2008 Click here to request the webinar: http://www.businessol.com/news/main- webinars/archives/default.html#session-2
- 75. CREATING ENGAGING WEBSITES UserCentered Design
- 76. Marketing Landscape: Online& Offline Online MarketingOffline Marketing traffic Website traffic
- 77. Understand the UserScenarios What content are online visitors expecting from your website when they arrive? What information is valuable to your users and supports your business objectives? What is your audience doing online when then are not visiting my website?
- 78. What Is ExpectedOf Your Website? How to strategize and plan for your audience’s arrival? 1. Optimize Pull Marketing Initiatives- Present product/service information when & where users are actively looking for it. (example: search engine marketing) 2. Employ User Centered Design- Build the website so users have an engaging experience and can easily accomplish this goals.
- 79. Definition: User CenteredDesign (UCD) Insert with graphic An approach to design that grounds the process in information about the people who will use the product. *http://www.upassoc.org/usability_resources/about_usability/what_is_ucd.html Focus on users through the planning, design and development of a website.
- 80. Proof: User CenteredDesign Statistics Following a usability redesign, websites increase desired metrics by 135% on average – Jakob Nielsen 46% of users abandon their online transaction as a result of experiencing website problems. – Survey of Online Consumer Behaviour by Tealeaf/Harris (2009) 40% of users who experience problems on a website say they would switch to an online or offline competitor – Survey of Online Consumer Behaviour by Tealeaf/Harris (2009) $25 billion is lost every year due to web site usability issues. – Zona Research