Revenue-Driving Social Media - Webinar
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Transcript of Revenue-Driving Social Media - Webinar
5 Steps to Revenue-Driving
Social Media
Mike TurnerDirector of Business Development
Chandler GaltClient Relations Coordinator
Fast growing. Award winning.
Top 10 in Bay Area’s 100
Fastest Growing CompaniesTop 500 Fastest Growing
Private US Companies
Who are we? /
providing:
� Search Engine Optimization
� Paid Search Advertising
� Display Advertising
� Social Media
� Website Design
� Content Creation
� Custom Measurement and Attribution
Who We Are /
We are experts at growing
revenue for clients with
cost-effective digital
marketing.
Clients /
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
6
State of Social Media
90% of B2B and B2C companies have some
level of Social Media engagement
70% describe themselves as moderately to fully
engaged, and 40% “very” to “fully” engaged
90% are managing their Social Media in-house
*2012 State of Digital Marketing Survey, Webmarketing123
Perception:B2B marketers are far less engaged than B2C in Social Media
Reality:B2Bs are closing the gap. 63% of B2Bs are engaged with social
media, vs. 70% of B2Cs
*2012 State of Digital Marketing Survey, Webmarketing123
State of Social Media
of companies that are active on
Facebook generate leads.2/3
50%+Close deals from Facebook leads.
State of Social Media
*2012 State of Digital Marketing Survey, Webmarketing123
Are unable to attribute ROI from Social Media efforts.
57%
*2012 State of Social Marketing Survey, Awareness Inc.
State of Social Media
How do you measure 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 spent on the website, etc.
Step 1:
Define your Key Performance Indicators (KPIs)
Set-up “Goals” in Google Analytics for these KPIs.
Track KPIs over time with a Scorecard
Track KPIs over time with a Scorecard
Social reports help you measure the impact social media has on your business goals and conversions.
Step 2:
Make the Business Case with Analytics
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 social audiences
The Conversions report can be found in the Standard Reporting tab under Traffic Sources > Social > Conversions.
Step 2:
Make the Business Case with Analytics
Step 2:
Make the Business Case with Analytics
Conversion report:
Step 2:
Make the Business Case with Analytics
Assisted Conversions Report:
Step 2:
Make the Business Case with Analytics
Assisted Conversions Report:
How do you calculate the value of a
Social Media Fan/Follower?
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 you closing the loop?
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.
Step 3:
Integrate Social into Larger Digital Strategy
Leverage Social Data to better:
� Understand your customer
� Establish stronger relationships
� Drive Content Marketing
Know what’s resonating with your
customer base and build more content
around that theme. This will also ensure
you’re ranking highly for these relevant
themes in search engines.
Social media is like SEO in that it is an investment in the longer-term brand health and in audience growth. Those lead to sales – directly, even if we can't always
measure them directly.
.
$
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
Give credit where credit is due
Attribution is about assigning a value to a marketing action that results in a reaction (i.e. conversion or sale) from your target (i.e. customer).
SALEReceives Email
Types your URL Directly in Browser
* On average, B2B decision makers will wait two weeks after their initial visit before converting (Google Think B2B Study)
First Visit Second Visit
2 Week Break
FB Post – Don’t
forget to Tag!
Conversion Visit
What is Marketing Attribution?
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.
2 IntroducersMarketing channel that introduced prospect to website, i.e. “first touch”
2 InfluencersVisits that happened after the first click and before the final conversion
2 ConversionsDigital channel that led to form fill out, i.e. raw lead generated
2 Pipeline“Opportunities” in Salesforce that are being pursued
2 Closers“Closed won” opportunities; i.e. marketing channel that led to closed deal
2 Why Digital Marketers Need ThisFull Funnel Digital Visibility
- Most marketers would
attribute sales to last
touch, i.e. “closers”
2 Why Digital Marketers Need ThisFull Funnel Digital Visibility
- Most marketers would
attribute sales to last
touch, i.e. “closers”
- Reality is that there are several
touch points before the “closer” that
influenced the purchase decision
2 Benefits of This Tracking360 Tracking
- Ability to tie ad spend back to leads and sales.
- Allocate resources to campaigns that generate sales!
<< Linkedin was the introducer, but is getting NO credit by your current last click attribution model.
Start refining marketing program allocation based on actual revenue 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.
� Tracking share of voice & other fuzzy Social Media metrics 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 out of your marketing investments
Key Takeaways
webmarketing123.com
TEAM UP WITH AN AWARD-
WINNING AGENCY (2012)
Download:2012 State of Digital Marketing Report
Talk to a digital marketing expert:�SEO/PPC/Social Media Marketing
�Measurement/Analytics Approach
�Lead Gen Effectiveness
We invite you to…
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