Understanding the impact of social media

@ericboggs, @covatiargylesocial.com

Understanding the Impact of Social Media

@argylesocial

@ericboggs@covati


Argyle Social helps marketers understand the impact of social media.


How do you understand the impact of social media

marketing efforts today?


Engagement is a core tenet of any social media marketing

program.


Engagement – and your social media marketing efforts in

general – should eventually lead to dollars.


Without a commitment to measurement, you’ll have no

idea if you’re creating value or wasting time.


“What gets measured, gets managed.”


Keyword Impression Click Visit Conversion

Offer Send Open Click Conversion

Twitter/Facebook Fans/Followers

PPC

Email

Social


Channel

Subscribers

Engagers

Prospects

Conversions

Engagement drives loyalty and repeat purchases

Conversion doesn’t complete the cycle -it re-frames the relationship.

Influencers may be outside the funnel

The Social Funnel


• Your people: Followers, Fans, Subscribers, etc.

• Extend customer relationships online.

• Key Metrics:– % customers subscribed

– Growth rate, growth drivers

• Hack:– Ask for social connection at all customer touch-points.

– Link social subscribers to email subscribers.

– Quantify customers / subscribers.

Subscribers


• People that raise their hand.

• Engagement moves subscribers down the funnel.

• Metrics:– Engagers / Subscribers – can you increase engagement?

– Interactions by Content – what made people pipe up?

• Hack:– Define “engagement” for your organization.

– Inspect your data from different perspectives.

Engagers


• People that convey interest.

• This stage may take different permutations.

• Key Metrics:– Interactions per prospect

– Prospects by content

• Hack:– Define the threshold between engager and prospect.

– Use web analytics parameters to build smarter links.

– Let others do the asking for you.

Prospects


• People that rang the register.

• Conversions should include repeat customers.

• Metrics:– Revenue per content, per subscriber, per channel, per property, etc.

– Lead time – from subscriber to conversion.

• Hack:– Use web analytics parameters to build smarter links.

– You can probably track this with existing tools.

– Rinse, repeat.

Conversions


Room For Improvement

• These steps are squishy.

• Causation is a big leap from correlation.

• Attribution remains a problem.

• This is still a manual process. For now…


Try This Tomorrow:

• Find ways to differentiate your audience.

• Snapshot metrics that reflect separate stages.

• Try to move the needle week-over-week.

• Tip:

Channel Subscribers Engagers Prospects Conversions


Try This Tomorrow:

• Tip, cont’d:

– Create a new Gmail account.

– Export your email list, import to Contacts.

– Use the Contact finder on Twitter/Facebook/etc. to find your customers.

– Count / Follow / Engage / Etc.


Try This Tomorrow:

• Publish all social content via single platform.

• Append analytics parameters to your links.

• Track the impact of your content.

• Tip:

– Link bit.ly with Tweetdeck across your team.

– More? Check out Argyle, Spredfast, CoTweet.


Try This Tomorrow:

• Find your top-performing content.

• Re-schedule it for the next several months.

• Thank me later.

– Tip of the hat: Phil Buckley

• Tip:

– Vary timing to determine if it is significant.

– Make sure to segment tracking data.


When working on other marketing programs, ask yourself why your social media marketing programs

don’t have the same rigorous approach.


Feedback? Questions?

(Thank you.)

Eric Boggs - [email protected] Covati – [email protected]

Business

Understanding the impact of social media