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Eric Boggs
The document discusses metrics for measuring social media marketing effectiveness, including fans or followers to measure awareness, clicks to measure interest, and conversions to measure actions. It provides insights from analyzing social media data from over 70,000 posts, including that balanced curation of own and other content drives conversions more than over-promoting or over-curating, and that scheduled posts generate clicks but not necessarily conversions. Effective measurement requires tools like multi-touch attribution to track how social media contributes to overall marketing goals.
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Eric Boggs
- 1. Presented November 16,2011 at Social Media Plus
- 2.
- 3. In God wetrust. All others must bring data. W. Edwards Deming
- 4. In God wetrust. All others must bring data. W. Edwards Deming There is no “data” confirming that Deming actually said this.
- 5. “ On theweb, (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. “ On theweb, (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. A Delicious Sliceof Argyle User Data Aggregated and anonymous December 2010 through May 2011 70k+ posts 381 organizations; all industries, all sizes
- 8. Definitions Post: a single piece of content published via Argyle Social. Click: a redirection from an Argyle short URL, published via Argyle Social. Conversion: direct or indirect completion of an Argyle Goal as a result of a click on a post published via Argyle Social.
- 9. Conversions? Social MediaMarketing = Marketing Marketing = Driven By Outcomes If A=B & B=C, then A=C.
- 10. Insight #1 RSS Automation Works
- 11. Insight #1 RSS Automation Works RSS automation is just as effective as posting manually.
- 12. Insight #2 Scheduled Posts Generate Clicks, Not Conversions
- 13. Insight #2 Scheduled Posts Generate Clicks, Not Conversions Scheduled posts drive traffic. Timeliness drives conversions.
- 14. Insight #3 HashtagStuffing Doesn’t Work
- 15. Insight #3 HashtagStuffing Doesn’t Work Don’t target content to hashtags. Target hashtags to content when relevant.
- 16. Balanced Curation DrivesConversions 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. Balanced Curation DrivesConversions 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. Slides at ar.gy/socialmediaplusThank you very much. Eric Boggs @ericboggs http://argylesocial.com Do or do not. There is no try. ~Albus Dumbledore
- 19. A Brief AsideRe: 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. DATA-DRIVEN SOCIAL MEDIAMARKETING Practicing
- 21. The Social MediaMarketing Funnel Your goal as a marketer is to move people down the funnel. Key Insight: every step is measurable. Awareness: Fans Interest: Clicks Action: Conversions
- 22. Measuring Awareness: FansRaw numbers and trends are easy but not very instructive. Compare with something real to make judgments: B2B Compare total fan count to lead count. Aim for 1:1 ratio. Consumer Products Compare fan count to customer count. Aim for 1:1 ratio. Newspapers & Blogs Compare fan count to website uniques. Aim for 15%. How many fans do you have? 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. Measuring Interest: ClicksMetrics 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. Measuring Action RequiresAttribution Social media builds awareness and interest in your brand but doesn’t usually lead directly to sales… … but you can still measure its impact on revenue! The secret: use multi-touch conversion tracking.
- 25. Measuring Action: Conversions KPIs Revenue Conversion count Revenue per conversion Conversion rate Key Questions What is your call to action strategy? What offers work best? Are you using landing pages?
Editor's Notes
- #2 Eric doing the intro.
- #3 Eric doing the intro.
- #4 Intro slide – Eric frames the presentation. Examples of insights that we’ve gathered from customer data that might change the way you manage social…and as a prelude to a conversation to how you can use data from your own social media marketing efforts to make smarter marketing decisions.
- #5 Intro slide – Eric frames the presentation. Examples of insights that we’ve gathered from customer data that might change the way you manage social…and as a prelude to a conversation to how you can use data from your own social media marketing efforts to make smarter marketing decisions.
- #6 Intro slide – Eric frames the presentation. Examples of insights that we’ve gathered from customer data that might change the way you manage social…and as a prelude to a conversation to how you can use data from your own social media marketing efforts to make smarter marketing decisions.
- #7 Intro slide – Eric frames the presentation. Examples of insights that we’ve gathered from customer data that might change the way you manage social…and as a prelude to a conversation to how you can use data from your own social media marketing efforts to make smarter marketing decisions.
- #8 Eric quickly explains the data source for the next few slides.
- #11 Eric – explain context of the data. Jason – suggest the action: use a service to automate posts via RSS. (Note: most RSS posts publish immediately, are not scheduled. Might need to delineate in the next slide.) if possible, schedule homegrown content to post multiple times. consider publishing content from other RSS feeds, can filter by tag or category.
- #12 Eric – explain context of the data. Jason – suggest the action: use a service to automate posts via RSS. (Note: most RSS posts publish immediately, are not scheduled. Might need to delineate in the next slide.) if possible, schedule homegrown content to post multiple times. consider publishing content from other RSS feeds, can filter by tag or category.
- #13 Eric – explain the graph. Jason – explain the takeaways: Timeliness premium when it comes to transactions. The further into the future Argyle users scheduled posts, the less influence the posts had on revenue. Suggests a few things: - Marketers aren’t scheduling posts with a strong call-to-action - Followers are less responsive to “planned” content. - Time-sensitive call-to-action is compelling
- #14 Eric – explain the graph. Jason – explain the takeaways: Timeliness premium when it comes to transactions. The further into the future Argyle users scheduled posts, the less influence the posts had on revenue. Suggests a few things: - Marketers aren’t scheduling posts with a strong call-to-action - Followers are less responsive to “planned” content. - Time-sensitive call-to-action is compelling
- #15 Eric – explain slide. Jason – commentary: Data suggests that posts with hashtags rarely outperform posts without hashtags. Scenarios that work: - Moderately sized, well-targeted conferences – SocialFresh…not SXSW - Charitable causes - Highly engaged groups and chats Scenarios that don’t work: - Huge conferences - Generic tags - Trending topic spam Remember that your followers are your primary source of attention.
- #16 Eric – explain slide. Jason – commentary: Data suggests that posts with hashtags rarely outperform posts without hashtags. Scenarios that work: - Moderately sized, well-targeted conferences – SocialFresh…not SXSW - Charitable causes - Highly engaged groups and chats Scenarios that don’t work: - Huge conferences - Generic tags - Trending topic spam Remember that your followers are your primary source of attention.
- #19 Eric - We’ve walked through a few examples that illustrate how data can drive social media marketing performance and – more importantly – marketing decisions. But we’re just talking about aggregates. The story gets more interesting when you start to look at your data in a similar fashion.
- #21 Eric - We’ve walked through a few examples that illustrate how data can drive social media marketing performance and – more importantly – marketing decisions. But we’re just talking about aggregates. The story gets more interesting when you start to look at your data in a similar fashion.
- #22 Eric - Social media marketing is a specialized version of marketing. Marketing is a business function. Business functions to drive outcomes. So by the transitive property you learned in 7 th grade algebra, social media marketing is ultimately about driving business outcomes. Jason - Every step is measurable. You can’t optimize a two-step process - by breaking your social audience into segments, you can more easily move people down the funnel and measure your efforts.
- #23 Eric – audience size is the obvious place to start, but follower counts are often a polarizing metric. Jason – commentary re: follower counts, importance of quality, ratios as a smart way to normalize and benchmark follower data.