#datadriven

Data Driven Social Media Management

Using data, process, and iteration to turn your social media marketing into a revenue-generating machine.

August 4, 2011

#datadriven

Who are these people talking to me?

Jason Falls@jasonfallssocialmediaexplorer.com

Eric BoggsCEO, Argyle Social

@ericboggsericboggs.com

(We’re smarter than we look. Hopefully.)

#datadriven

Details

• Jason will lead Q/A at the end of the call.• Tag your tweets/questions with #datadriven.• We’re recording this shin dig.• We’ll send an email follow up to everyone.

• Eric is @ericboggs.• Jason is @jasonfalls.

#datadriven

15-SECOND COMMERCIAL:JASON

#datadriven

15-SECOND COMMERCIAL:ERIC

Social Review Whitepaper

http://ar.gy/review

• Do you have the fans you want?• What content resonates with you audience?• How do you drive more value through social?

#datadriven

USING DATA TO GENERATE INSIGHTS

#datadriven

Data SourceA slice of aggregate, anonymous Argyle user data.

• December 2010 through May 2011• 70k+ posts• 381 organizations; all industries, all sizes

#datadriven

Insight #1 RSS Automation Works

RSS Manual0

5

10

15

20

25

30

Clicks by Posting Method

Posting Method

Clic

ks

RSS Manual$0

$50

$100

$150

$200

$250

$300

Revenue by Posting Method

Posting MethodR

ev

en

ue

RSS automation is just as effective as manual posting at driving clicks and conversions.

#datadriven

Insight #2 Scheduled Posts Generate Clicks, Not Conversions

<2min 2-30min 30min-3hrs

3-12hrs 12-24hrs

>24hrs $-

$50

$100

$150

$200

$250

$300

$350

$400

Timeliness vs. Influenced Revenue

Posting Delay

Infl

uen

ced

Rev

enu

e

Posted Immediately Scheduled for Later0

5

10

15

20

25

Timeliness vs. Traffic

Posting Timeframe

Cli

cks

Scheduled posting is a great tool if your goal is traffic, but not if you’re attempting to drive conversions.

#datadriven

Insight #3Hashtag Stuffing Doesn’t Work

52%

21%

26%

How Effective are Posts with Hashtags?

Posts with Hashtags UnderperformNo Significant DifferencePosts with Hashtags Outperform

-70%

-50%

-30%

-10% 10

%30

%50

%70

%90

%11

0%

0

5

10

15

20

25

Relative Performance of Hashtag vs Non-Hash-tag Posts

Performance Increase (Decrease) of Posts with Hashtags

# o

f T

wit

er

Ac

co

un

ts

Don’t target content to hashtags. Target hashtags to content when relevant.

#datadriven

Insight #4Facebook Influences More Purchases Than Twitter

None72%

Faceboo

k24%

Other4%

Frequency with which Social Networks Influence Buying

Decisions

Source: Edison Research

Facebook Twitter $-

$5.00

$10.00

$15.00

$20.00

The 1-Year Value of a Fol-lower

#datadriven

DATA-DRIVEN SOCIAL MEDIA MARKETING

Practicing

#datadriven

The Social Media Marketing Funnel

• Your goal as a marketer is to

move people down the funnel.

• Key Insight: every step is

measurable.– Awareness: Fans

– Interest: Clicks

– Action: Conversions

#datadriven

Measuring Awareness: Fans

• Raw numbers and trends are easy but not very instructive. Compare with something real to make judgments:

– B2BCompare total fan count to lead count. Aim for 1:1 ratio.

– Consumer ProductsCompare fan count to customer count. Aim for 1:1 ratio.

– Newspapers & BlogsCompare fan count to website uniques. Aim for 15%.

How many fans do you have? Fan count is important, but it’s just one of many

numbers that lead to success in social media

marketing.

Fan / Follower counts are important for normalizing other social media marketing metrics!

#datadriven

Measuring Awareness: Fans

Who are they?

• Demographics—target and actual• “Like Sources” and “External referrers”• Fan churn (% of fans who unlike you)

When it comes to your social audience, quality is

just as important as quantity.

#datadriven

Measuring Interest: Clicks

KPIs• Clicks (duh)• Clicks per post• Clicks per follower• Response rate

Key Questions

• What content drives interest?• What are you posting?• How are you posting it?

#datadriven

Measuring Interest: Clicks

Metrics in Action

Clicks Posts Clicks per Post

Which is better?

Which is worse?

Increase in clicks is driven by increase posting frequency

Increase in clicks is driven by more engaging content

Decrease in clicks is driven by less engaging content

Decrease in posts is drive by fewer posts—easy to fix!

#datadriven

Measuring Action Requires Attribution

• Social media builds

awareness and interest in

your brand but doesn’t

usually lead directly to

sales…

• …but you can still measure

its impact on revenue!

• The secret: use multi-

touch conversion tracking.

#datadriven

Attributing Conversions in Social

Two Types of Marketing Channels

Intent Generating channels build consumer awareness and interest, creating an intention to purchase a product.

Intent Harvesting channels capture consumer intent to purchase and drive them to the cash register.

Two Types of Conversion Tracking

Multi-touch tracking attributes revenue to all of the channels that touched the consumer on their path through the funnel.

Last-touch tracking attributes all of the revenue for a purchase to the last channel that touched the customer prior to the sale.

#datadriven

Measuring Action: Conversions

KPIs• Revenue• Conversion count• Revenue per conversion• Conversion rate

Key Questions

• What is your call to action strategy?• What offers work best?• Are you using landing pages?

#datadriven

Measuring Action: Conversions

Metrics in Action

Revenue Conversions RPC

Which is better?

Which is worse?

Increase in revenue is driven by higher conversion volume

Increase in revenue is driven by higher revenue per conversion

Decrease in revenue is driven by lower revenue per conversion

Decrease in revenue is driven lower conversion volume

#datadriven

Questions & Answers (& Thank you!)

http://ar.gy/review http://nobullshitsocialmedia.com