5 Steps to Revenue-Driving Social Media by Webmarketing123

7/29/2019 5 Steps to Revenue-Driving Social Media by Webmarketing123

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5 Steps to Revenue-Driving

Social Media

Mike TurnerDirector of Business

Development

Chandler GaltClient Relations

Coordinator


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Fast growing. Award winning.

Top 10 in Bay Areas 100Fastest Growing Companies

Top 500 Fastest GrowingPrivate US Companies

Who are we? /


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providing:

Search Engine Optimization

Paid Search Advertising

Display Advertising

Social Media

Website Design

Content Creation

Custom Measurement and Attribution

Who We Are /


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We are experts at growingrevenue for clients with

cost-effective digitalmarketing.

Clients /


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State of Social Media

Step 1: Define your Social Media KPIs

Step 2: Make the Business Case with Analytics

Step 3: Integrate Social into your larger strategy

Step 4: Measure revenue contribution with Attribution

Step 5: Close the loop and make data-driven decisions

Agenda

1

2

3

4

5

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90% of B2B and B2C companies have some

level of Social Media engagement

70% describe themselves as moderately to fullyengaged, and 40% very to fully engaged

90% are managing their Social Media in-house

*2012 State of Digital Marketing Survey, Webmarketing123


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Perception:

B2B marketers are far less engagedthan B2C in Social Media

Reality:B2Bs are closing the gap. 63% ofB2Bs are engaged with social

media, vs. 70% of B2Cs




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of companies that are active on

Facebook generate leads.2/3

50%+Close deals from

Facebook leads.




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Are unable to attribute ROIfrom Social Media efforts.57%

*2012 State of Social Marketing Survey, Awareness Inc.



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How do youmeasure performance?

Likes and number of followers are not good indicators of performance.

Better to use Conversions from Social:Purchases, email opt-ins, demo requests, shares, downloads, or time spenton the website, etc.

Step 1:

Define your Key Performance Indicators (KPIs)

Set-up Goals in Google Analytics for these KPIs.


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Track KPIs over time with a Scorecard


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Track KPIs over time with a Scorecard


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Social reports help you measure the impact

social media has on your business goalsand conversions.

Step 2:

Make the Business Case with Analytics


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Conversions report enables social media marketing accountability -and clearly shows how social impacts your business.

See the impact of social on your goals in simple,ready-to-use reports

Learn what content drives conversions with socialaudiences

The Conversions report can be found in the Standard Reporting tabunder Traffic Sources > Social > Conversions.

Step 2:

Make the Business Case with Analytics


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Step 2:

Make the Business Case with AnalyticsConversion report:


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Step 2:

Make the Business Case with AnalyticsAssisted Conversions Report:


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Step 2:

Make the Business Case with AnalyticsAssisted Conversions Report:


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How do you calculate the value of aSocial Media Fan/Follower?


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Step-by-Step Calculation

of the Cost of Not Having Social Media Fans/Followers

1. Amount of referral traffic from Social Networks

2. Conversion Rate

3. Social Visitor-to-Lead Rate

4. Raw Lead-to-Qualified Lead Rate

5. Qualified Lead to Closed Deal Rate

6. Average Deal Size

7. (# of Closed Deals) x (Avg. Deal Size) = Revenue Potential

Knowing the opportunity is step 1.Are youclosing the loop?


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Step 3:

Integrate Social into Larger Digital Strategy

Buyers are 57-70% of the way through their purchase

process prior to engaging your sales reps.

Brands must have quality and

shareable content present in multiple

channels, including Social Media.


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Step 3:

Integrate Social into Larger Digital Strategy

Leverage Social Data to better:

Understand your customer Establish stronger relationships

Drive Content Marketing

Know whats resonating with your

customer base and build more content

around that theme. This will also ensure

youre ranking highly for these relevantthemes in search engines.


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Social media is like SEO in that it is aninvestment in the longer-term brand health

and in audience growth. Those lead to sales directly, even if we can't alwaysmeasure them directly.

.

$


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Step 4:

Measure Revenue Contribution

Track each interaction that a customer takes with your brand on

their path to becoming a customer.

Use Full Attribution tracking to measure and assign value

to each interaction someone makes with your brand.

How?Tag all posts, shares, and content links within your

social media campaigns.

From original visit>> through conversion >> and into CRM.

http://support.google.com/analytics/bin/answer.py?hl=en&answer=1033867


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Give credit where credit is due

Attribution is about assigning a value to a marketing action thatresults in a reaction (i.e. conversion or sale) from your target (i.e.customer).

SALE

Receives Email

Types your URL Directly in Browser

* On average, B2B decision makers will wait two weeks aftertheir initial visit before converting (Google Think B2B Study)

First Visit Second Visit

2 Week Break

FB Post Dont

forget to Tag!

Conversion Visit

What is Marketing Attribution?


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2 Introducing FACTSFull Attribution CRM Tracking System

Allows for 360 tracking from initial keyword search to closed opportunity by uncovering data

from Google Analytics and Salesforce CRM into unified view.


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2 IntroducersMarketing channel that introduced prospect to website, i.e. firsttouch


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2 Influencers

Visits that happened afterthe first click and beforethe finalconversion


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2 Conversions

Digital channel that led to form fill out, i.e. raw lead generated


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2 Pipeline

Opportunities in Salesforce that are being pursued


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2 Closers

Closed won opportunities; i.e. marketing channel that led toclosed deal


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2 Why Digital Marketers Need This

Full Funnel Digital Visibility

- Most marketers would

attribute sales to lasttouch, i.e. closers


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2 Why Digital Marketers Need This

Full Funnel Digital Visibility

- Most marketers would

attribute sales to lasttouch, i.e. closers

- Reality is that there are several

touch points before the closer thatinfluenced the purchase decision


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2 Benefits of This Tracking

360 Tracking

- Ability to tie ad spend back to leads and sales.

- Allocate resources to campaigns that generate sales!


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Start refining marketing program allocation based on actualrevenue instead of just leads or conversions.

$85,000

$60,000

$275,000

$ $

$

$ $ $

CampaignRevenue

OpportunityAllocation

$

Campaign A

Campaign B

Campaign C

Step 5:

Close the loop. Make data-driven decisions.


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Tracking share of voice & other fuzzy Social Mediametrics is no longer good enough

For B2B there is a way to track ROI from Social Attribution!

Close the loop on measurement and get the most outof your marketing investments

Key Takeaways


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5 Steps to Revenue-Driving Social Media by Webmarketing123