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Attributing Returns to Social Media

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Attributing Returns to InvestmentAttribution

Establishing unbroken chain of eventsfrom the “investment” to the “return”

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Unbroken Chain of Events: e-commerce

Attribution

1. You Post a Link of your Product Page on

Facebook

2. Total 3500 people visit product page through that link

3a. Total 17 of these buy the product in

first visit

3b. Total 250 people register for Free Trial

version

4. In 15 days period, 34 people upgrade to

paid from trial

Investment: Posting a link on FacebookResult: 51 product units sold

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Unbroken Chain of Events - ServicesAttribution

1. You see 38 tweets by people looking for

web design

2. You respond to all of them introducing

your services

3. Total 7 people interact with you for

further details

4. You close business worth $7.5K with 3 of

them.

Investment: Listening on Twitter & Responding to prospectsResult: $7.5K worth of Business

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Unbroken Chain of Events: CRMAttribution

1. You see a –vetweet by a customer about your product

2. You interact with the customer &

resolve the issue

3. Customer now appreciates your service on twitter

4. You get 6 more customers worth $9K through this referral

Investment: Customer service on TwitterResult: $9K worth of Business

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Attribution is a Hard Problem

Broken Chains

Missing Metrics

Mixed Influence

More often than not, it’s hard toestablish a credible sequence of events.

Not all the metrics are available orcaptured automatically.

Multiple marketing efforts with a singleoutcome coincide with each other.

Attribution

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What are Broken Chains of Events?

You Promote your product on LinkedIn

Attribution – Broken Chains

You use a Blog for thought leadership

You interact with people on FB/Twitter

You resolve people’s issues on FB/Twitter

You get $20K worth of Business

with “unknown source”

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Fixing Broken ChainsAttribution – Broken Chains

• Ask your customers where they came from “if you can”

• Could be part of registration process or included at some other step

• Not reliable but might provide indicators

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Attribution is a Hard Problem

Broken Chains

Missing Metrics

Mixed Influence

More often than not, it’s hard toestablish a credible sequence of events.

Not all the metrics are available orcaptured automatically.

Multiple marketing efforts with a singleoutcome coincide with each other.

Attribution

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Missing Metrics ExamplesAttribution – Missing Metrics

How many issues were resolved on

Twitter?How many $ were saved/earned by

resolution of issues?

Did you note down that FB was used for

Market Research?And that lead came

from an introduction over LinkedIn!

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Resolving Issues around MetricsAttribution – Missing Metrics

Issue: All the metrics are not captured in a tool. E.g. if you resolved a customer issue on Twitter, which tool recorded this?

Resolution: Needs deploying a tool or a simple manualcapturing of the data in a document. Thechoice depends on the scale.

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Resolving Issues around MetricsAttribution – Missing Metrics

Issue: All the metrics are not fully measurable.E.g. value of resolving a customer issue onTwitter. Is it $20 or $2K or $2M?

Needs a simple model to find approximatevalue. E.g. resolving a customer issue couldbe worth the business given by that customer.

Resolution:

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Attribution is a Hard Problem

Broken Chains

Missing Metrics

Mixed Influence

More often than not, it’s hard toestablish a credible sequence of events.

Not all the metrics are available orcaptured automatically.

Multiple marketing efforts with a singleoutcome coincide with each other.

Attribution

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