The 5 Metrics You Need To Track Social Marketing's Impact & Influence

The 5 Metrics You Need To Track Social Marke5ng’s Impact & Influence

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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

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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

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Social’s Share of Budgets

63% of CMOs rank social markeKng as a top investment area.

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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.

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40% can show qualitaKve results, but they lack any solid financial evidence of social media’s influence.

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Nearly half of marketers say they can’t demonstrate the return on their social media spending.

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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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The 5 Metrics You Need To Track Social Marketing's Impact & Influence

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Transcript of The 5 Metrics You Need To Track Social Marketing's Impact & Influence