Chicken or egg? Who cares! Would you walk away from this? It costs less to up-sell an existing customer than to acquire a 80% of These new one revenuepeople buy… comes from repeatedly! 20% of customers!
Problem #1:Senior execs need different metrics
…Last click transactions won’t make the business case
…Because social shines at filling up the prospect funnel New SalesRepeat Purchases & New Sales
Problem #2: Data lives in silos Twitter Tools FB Insights SMMS Tools Buzz Monitoring Tools Campaign AppsShiny GAnew tool Shiny new tool CRM Buzz Monitoring Tools
How to solve both problems…Start connecting dots.
The connection with biggest impact FollowsTweet toBlog Post Downloads 8/10 a product Downloads guide a white 8/15 Requests paper a Demo 8/10 9/1 Gets an email; clicks on Purchase a link $$$ 8/15 10/2
Web Analytics + CRM = Metrics Senior Execs will love• Time to close – Do social leads/prospects close faster than average?• Average close rate – Do social leads/prospects close at a higher rate than average?• Average sale and/or LTV – Do social leads /prospects spend more than average?
Can’t connect all the way to purchase? Focus on leads and prospects 21
Which conversions? Begin to craft an understanding of what the path is, which channels touch the customer where– Where does social shine?– Which types of conversions does it drive?– What kinds of conversions are other channels driving?
A cheap & easy way to get multi-channel data: UTM Parameters in links We use links in email. We use links in PPC. We use links in social media.
…But sloppy use of source/medium/campaign parameters leads to confusing data
Give Senior Execs the Big Picture• Keep it short and simple: Boil it down!• Put it in context• Don’t show conversion values or attribution data that can’t be validated and defended (they will ask)
Don’t forget…There won’t be any business value if you stop paying attention to metrics at the top of the funnel– There won’t be any business value to report if you stop paying attention to the metrics that tell you how the community is growing, how engaged it is, what content resonates, etc.– Senior Execs need DIFFERENT metrics, but business value metrics aren’t the only metrics that are important