the 5 metrics you need to track social marketing's impact & influence
TRANSCRIPT
The 5 Metrics You Need To Track Social Marke5ng’s Impact & Influence
#SocialMetrics
SPONSORED BY
#SocialMetrics
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#SocialMetrics Demand Gen Report: @DG_Report
GoodData: @GoodData
Emily Rugaber: @emilyrugaber
Andrew Gaffney: @agaffney
#SocialMetrics
About Demand Gen Report
@DG_Report h9p://linkd.in/DG_Specialists
• Launched in 2007 to track best pracKces in lead generaKon
• Newsle9er has grown to more than 28,000 readers
• We also offer a menu of research and best pracKces reports
• New audio/video podcasts at DemandGenReport.com
#SocialMetrics
Emily Rugaber Director, Best PracKces ���GoodData
MODERATOR: Andrew Gaffney Editor, Demand Gen Report Panelists
#SocialMetrics
Sizing Up Social’s Influence on Buyers
72% of respondents said they used social media to
research the soluKon purchase.
#SocialMetrics
Sizing Up Social’s Influence on Buyers
The amount of respondents who connected directly with potenKal soluKon providers via social by more than 57%.
#SocialMetrics
Poll Ques5on
What tacKcs have been using to connect with and engage customers and prospects via social channels?
• Social Content • Social Referral Programs • RetargeKng • Paid Social Ads
#SocialMetrics
Social’s Share of Budgets
Social media now accounts for about 10% of total markeKng budgets.
Social spending will increase to more than 21% of budgets over the next five years.
10%
21%
MarkeKng budgets
Budget increase over the next 5 years
#SocialMetrics
Social’s Share of Budgets
63% of CMOs rank social markeKng as a top investment area.
#SocialMetrics
Poll Ques5on
How are your social markeKng budgets changing from year to year?
• Increasing by 1-‐10% • Increasing by 10%-‐20% • Increasing by 20%-‐30% • Flat • Decreasing
#SocialMetrics
Spending Up, But Metrics SKll A Struggle
Just 15% of marketers can demonstrate the
quanKtaKve effect of social media on their businesses.
#SocialMetrics
Spending Up, But Metrics SKll A Struggle
40% can show qualitaKve results, but they lack any solid financial evidence of social media’s influence.
#SocialMetrics
Spending Up, But Metrics SKll A Struggle
Nearly half of marketers say they can’t demonstrate the return on their social media spending.
#SocialMetrics
Poll Ques5on
How are you currently tracking and reporKng on the impact and influence of your social markeKng? • Tracking basic metrics such as likes and
followers • Using internal reports to track traffic and
views • Have detailed tracking of ROI • Tracking unique a9ribuKon of all channels
5 Metrics To Track
Social Marketing’s Impact & Influence
What We’ll Cover Today: Channels
Poll Question: Are you using paid social media on these networks?
• LinkedIn • Twitter • Facebook • YouTube • Pinterest • Instagram
LinkedIn: Dominating the B2B Space
Social Nomenclature, Explained.
Owned Social Media
Paid Social Media
Earned Social Media Social
Analytics
The Metrics We All Know
# of Posts
# of Engagements
Engagement Rate
Followers Viewers &
Views
#1: Non-
Follower Reach
What We’ll Cover Today: The 5 Metrics that Ma9er
#2: Goal
Completions
#3: Ad Spend
& ROI
#4: Ad Metrics
by Category
#5: Share of
Voice
#1: Reaching the Right Audience with Paid Media
B2B Content Tactics--2015
From CPC to CPE: What am I Paying For?
Pay Per Click
Pay Per View or Engagement (after 30 sec.)
Pay Per Engagement or Click
Pay Per Impression, Engagement, or Click
$8-10 per click
$1 for 200 views (<30 sec.)
$2-4 per engagement
$1-2 per engagement
A Few Metrics to Consider
Number of Ads: A simple metric, but often forgotten!
Spend: Can track this a number of ways.
Ad Impressions: On LinkedIn & Facebook, can also track “uniques.”
Ad Clicks: Raw clicks on your ad.
Ad Engagements: Likes, comments, shares, retweets, @replies, favorites, video views, etc.
“Cost per” Metrics: CPC, CPE, CPM
Metric Spotlight: Non-Follower Reach
• When I post an ad, who sees it? Clicks? Likes? Shares? Retweets?
• How does my paid media audience differ from your owned media audience?
• How can I leverage “free advertising” to your audience, to improve the efficiency of paid media?
#2: Measuring Ad Contribution to Goal Completions
#1 Metric that Matters: Linking paid social actions to
web visits, conversions, MQLs, or other goals for
your business!
What is Paid Social Success?
A Social Attribution Model
Customer Experience Cycle
A Few Metrics to Consider
Bounce Rate: Percentage bounces from an ad.
Visits/Session: Can also track uniques/visitors!
Time on Page: Complementary metric--session time.
Goal Completion: Form fills, event responses, etc.
CTR: Click-Through-Rate
*All of these metrics can be sliced by Referral Source.
Metric Spotlight: Goal Completions by Platform
• Am I driving people to your site who have intent to purchase?
• How does social affect my goals? • How am I calculating “goal completions” on
my site?
Finding Spend & ROI
Poll Question: Do you know these metrics for your organization?
• Clicks per dollar spent on social media. • Engagements per dollar spent on paid social
media. • Dollars made in ecommerce per dollar spent
on paid social media. • I don’t know any of these!
Spend & ROI Trends
• Spend is increasing • 62% of CMO’s feel pressure to prove ROI • 3 Barriers to ROI:
– Internal silos – Resistance to change – Lack of expertise in new tech
Spend & ROI Trends
Metric Spotlight: ROI
• How much money has my site made from social referrals and/or purchases?
• What is the return on investment for paid social media?
• How is my paid ROI changing over time?
Discovering Ad Metrics by Category
What is a Trend, Anyway?
Metric Spotlight: Ad Metric by Category
• What is a “category?” – Post Type – Ad Campaign – Ad Objective – Ad Target – Product – Product Category – Platform – Customer Profiles
• What categories do I want to slice my metrics by?
Problem Consolidate 40 unique data sources into single view to track conversions from engagements to views
Solution Social and Digital Analytics
Results ‣ 20+ unique media channels and digital
properties exposed to insights
‣ Time spent on report generation reduced from 90% to 20%
‣ Raised IT role to strategic
“It takes a powerful engine to handle the data demands of a company of our size. GoodData went beyond traditional BI solutions, taking us from zero-to-insight in record time.”
– Param Ghangas, Director of Analytics
Mastering Share of Voice
Social Share of Voice:
The volume of mentions on a social network, weighted by sentiment and compared to competitors.
Share of Voice = B2B Brand Love
Influencer SOV:
Same metric, specific to influencers
Metric Spotlight: Share of Voice
• What is my share of voice on Twitter? • What is my share of voice with Twitter
influencers? • How do I compare to my competitors and/or
benchmarks for my industry?
Sample Share of Voice Chart: “Top Tweeters”
Questions?
#SocialMetrics
Emily Rugaber Director, Best PracKces ���GoodData
MODERATOR: Andrew Gaffney Editor, Demand Gen Report
Panelists // Q & A
Want to learn more about GoodData?
Email: [email protected]
Call: (415) 200-0186
Stay in Touch!
If you’d like to learn more about social metrics, check out our Ul5mate Guide to Social Analy5cs!
@emilyrugaber
#SocialMetrics
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