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


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



of companies that are active on

Facebook generate leads.2/3

50%+Close deals from Facebook leads.



Are unable to attribute ROI from Social Media efforts.

57%

*2012 State of Social Marketing Survey, Awareness Inc.


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

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:


Step 2:


Conversion report:

Step 2:


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…

Email:

[email protected]

Revenue-Driving Social Media - Webinar

Technology

Transcript of Revenue-Driving Social Media - Webinar