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5 Steps to Revenue-Driving Social Media

Mike Turner Director of Business Development

Chandler Galt Client Relations Coordinator


Who are we? /

Fast growing. Top 10 in Bay Area’s 100 Fastest Growing Companies

Award winning. Top 500 Fastest Growing Private US Companies


Who We Are /

providing:

 Search Engine Optimization  Paid Search Advertising  Display Advertising  Social Media  Website Design  Content Creation  Custom Measurement and Attribution


Clients /

We are experts at growing revenue for clients with

cost-effective digital marketing.


Agenda 1

State of Social Media

2

Step 1: Define your Social Media KPIs

3

Step 2: Make the Business Case with Analytics

4

Step 3: Integrate Social into your larger strategy

5

Step 4: Measure revenue contribution with Attribution

6

Step 5: Close the loop and make data-driven decisions


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


State of Social Media

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

2/3

of companies that are active on Facebook generate leads.

50%+ Close deals from Facebook leads.

*2012 State of Digital Marketing Survey, Webmarketing123


State of Social Media

57%

Are unable to attribute ROI from Social Media efforts.

*2012 State of Social Marketing Survey, Awareness Inc.


Step 1:

Define your Key Performance Indicators (KPIs) 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. Set-up “Goals” in Google Analytics for these KPIs.


Track KPIs over time with a Scorecard


Track KPIs over time with a Scorecard


Step 2:

Make the Business Case with Analytics

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 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


What is Marketing Attribution?

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). Conversion Visit

FB Post – Don’t forget to Tag!

Types your URL Directly in Browser

2 Week Break

SALE Receives Email

First Visit

Second Visit

* On average, B2B decision makers will wait two weeks after their initial visit before converting (Google Think B2B Study)


2 Introducing FACTS Full 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 Introducers Marketing channel that introduced prospect to website, i.e. “first touch�


2 Influencers Visits that happened after the first click and before the final conversion


2 Conversions Digital 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 This Full Funnel Digital Visibility

- Most marketers would attribute sales to last touch, i.e. “closers�


2 Why Digital Marketers Need This Full Funnel Digital Visibility

- Reality is that there are several touch points before the “closer” that influenced the purchase decision

- Most marketers would attribute sales to last touch, i.e. “closers”


2 Benefits of This Tracking 360 Tracking

<< Linkedin was the introducer, but is getting NO credit by your current last click attribution model.

- Ability to tie ad spend back to leads and sales. - Allocate resources to campaigns that generate sales!


Step 5:

Close the loop. Make data-driven decisions. Start refining marketing program allocation based on actual revenue instead of just leads or conversions.

Campaign

Revenue Opportunity

Allocation

Campaign A

$85,000

$ $

Campaign B

$60,000

$

Campaign C

$275,000

$ $ $ $


Key Takeaways  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 â&#x20AC;&#x201C; Attribution!  Close the loop on measurement and get the most out of your marketing investments


We invite you toâ&#x20AC;Ś Download: 2012 State of Digital Marketing Report webmarketing123.com

Talk to a digital marketing expert: SEO/PPC/Social Media Marketing Measurement/Analytics Approach Lead Gen Effectiveness Email: contact@webmarketing123.com

TEAM UP WITH AN AWARDWINNING AGENCY (2012)

5 Steps to Revenue-Driving Social Media by Webmarketing123  

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 –Attrib...