metrics madness: social & digital media measurement & roi
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Metrics Madness
Excerpts from the full coursehttp://frankonlinemarketing.com/speaking-training
/ for more info
Quote source: Content Marketing Institute: Field Guide to the Four Types of Content Marketing Metrics
Tema Frank
@temafrank
+1-866-544-9262
April 17, 2014
Frank Online Marketing – Please contact for permission to copy or use tema(at)frankonlinemarketing.com
Agenda
Not everything that can be counted counts, and not everything that counts can be counted.
attributed to Albert Einstein
1. Metrics Matter for Business Success
2. Goals Come First
3. Now Set Key Performance Indicators (KPIs)
4. Then Choose Online Marketing Tools
5. Ta-da! Show The ROI (Return on Investment)
Frank Online Marketing – Please contact for permission to copy or use tema(at)frankonlinemarketing.com
Frank Online Marketing – Please contact for permission to copy or use tema(at)frankonlinemarketing.com
Is Social Media ROI a Fraud?
More trackable than traditional advertising ROI
But still not easy or 100% certain
Photo credit: PhotoAtelier, on Flickr
Frank Online Marketing – Please contact for permission to copy or use tema(at)frankonlinemarketing.com
It Ain’t Easy!
"Half the money I spend on advertising is wasted; the trouble is I don't know which half."
John Wanamaker
Must measure multiple touch points From a multitude of data sources Which activity (activities) should get the "conversion credit“?
Frank Online Marketing – Please contact for permission to copy or use tema(at)frankonlinemarketing.com
Omnichannel Challenges
But it must be done.
More being accessed 1st or only on mobile.
http://www.emarketer.com/Article/Mobile-Search-Reshapes-Path-Purchase/1010749#CL0W5dY6Om4dPCJi.99
“Matching up mobile, tablet and desktop activity so that advertisers can establish best practices remains a work in progress.”
Frank Online Marketing – Please contact for permission to copy or use tema(at)frankonlinemarketing.com
Metrics Matter – Why? To deal with complexity Learn about your audience
Where are they? How do they behave?
What is measured happens Helps with SEO & other
ongoing markeing improvements
Photo by Bill Brooks, Flickr
Frank Online Marketing – Please contact for permission to copy or use tema(at)frankonlinemarketing.com
Goals Come First
Frank Online Marketing – Please contact for permission to copy or use tema(at)frankonlinemarketing.com
Takes a Team EffortGood goals have input from:
CEOMarketingSalesCustomer ServiceOperationsFinance IT
Frank Online Marketing – Please contact for permission to copy or use tema(at)frankonlinemarketing.com
What are your Business Goals?
Brand Awareness
Customer Understanding
Raving fans
Leads
Customer service costs
Customer service response (time & quality)
Customer satisfaction & retention
Increase sales/profits/donations
Frank Online Marketing – Please contact for permission to copy or use tema(at)frankonlinemarketing.com
What does ROI mean to you?
What are you hoping to achieve? What are the cost savings & revenue increases digital media might achieve?
Could we achieve these goals without online media? How? What would that cost?
Frank Online Marketing – Please contact for permission to copy or use tema(at)frankonlinemarketing.com
Who’s Your Customer?
Photo credits: Man- Flickr – Tim Rodenberg; woman – Flickr – Sam Churchill; Family - TFrank
Frank Online Marketing – Please contact for permission to copy or use tema(at)frankonlinemarketing.com
Think about: 1. Acquisition
From where? Earned, Owned, & Paid considered? Priorities for each element? Spending?
2. Behavior Steps in ideal buyer’s journey – micro-goals, influencers Process to buy Can we simplify?
3. OutcomesWhat outcomes = value delivered to the business bottom-line?
A download? A phone call to your call center? A qualified online lead?
Signing up for email promotions? People buying your product / services ? A
95% task completion rate? A 10 point lift in brand perception?Source: http://www.kaushik.net/avinash/digital-marketing-and-measurement-model/
Frank Online Marketing – Please contact for permission to copy or use tema(at)frankonlinemarketing.com
Set Key Performance Indicators
What KPIs will measure progress towards the goals you have set?
Is it realistic to think you can collect the data? Who needs to be involved? Get their
input before buying tools!
Frank Online Marketing – Please contact for permission to copy or use tema(at)frankonlinemarketing.com
Categories of MetricsConsumption Sharing & EngagementLead GenerationSalesProfitability
Social Media
Offline
Our site
Frank Online Marketing – Please contact for permission to copy or use tema(at)frankonlinemarketing.com
Consumption metricsWhat are visitors consuming? (pages, videos, podcasts, documents, downloads, page views)
What are they reading about us from other sources?
What are they searching?
How do these
relate to sales?
Frank Online Marketing – Please contact for permission to copy or use tema(at)frankonlinemarketing.com
Sharing & Engagement Metrics
Likes, shares, tweets, +1s, pinsSentiment analysis (still no great tools
for this)Forwarding from e-mailInbound links (can get free from ScreamingFrog,
Google Webmaster Tools, http://www.opensiteexplorer.org/ and other SEO tools)
http://www.slideshare.net/fullscreen/CMI/a-field-guide-to-the-four-types-of-content-marketing-metrics/2
Frank Online Marketing – Please contact for permission to copy or use tema(at)frankonlinemarketing.com
More Social Media Metrics
Social Media Conversion rate # of audience comments/post
Amplification rate # retweets/post or shares/post
Applause rate likes, faves, +1s
Share of voice what % of mentions are yours
http://www.convinceandconvert.com/social-media-measurement/6-critically-undervalued-social-media-success-metrics/ GroupM study
Frank Online Marketing – Please contact for permission to copy or use tema(at)frankonlinemarketing.com
Lead Generation MetricsForm completionsDownloadsEmail subscriptions, opens & clicksBlog subscriptions & commentsConversion rates of people who did the above vs those who didn’t increasing over time?
Bounce rateshttp://www.slideshare.net/fullscreen/CMI/a-field-guide-to-the-four-types-of-content-marketing-metrics/2
Frank Online Marketing – Please contact for permission to copy or use tema(at)frankonlinemarketing.com
Sales MetricsConversion rates Impact on offline salesCustomer retention Order frequencyAverage order size/price
Frank Online Marketing – Please contact for permission to copy or use tema(at)frankonlinemarketing.com
Profitability MetricsCost/leadRevenue/leadCustomer service costs (declining?)# of sales per sales repReturns rateOnline ad campaign profitability
Frank Online Marketing – Please contact for permission to copy or use tema(at)frankonlinemarketing.com
You Thought That Was Tough…
Now for the How
Frank Online Marketing – Please contact for permission to copy or use tema(at)frankonlinemarketing.com
Process
Now you have decided what to measure, so how will you do it? Determine IT and systems needsCreate implementation planTrain & implement Maintain, measure & refine
Frank Online Marketing – Please contact for permission to copy or use tema(at)frankonlinemarketing.com
CostsTime (especially for social media!)ToolsLearning curve/trainingSocial media advertising (increasingly important)
Frank Online Marketing – Please contact for permission to copy or use tema(at)frankonlinemarketing.com
ToolsTools for: Data Gathering & Posting
Data Analysis
Testing & Refinement Lots of overlap
Photo by Tony Hall, Flickr
Frank Online Marketing – Please contact for permission to copy or use tema(at)frankonlinemarketing.com
The BasicsWhat do you really need? What budget range?TimingExtensibilityIT participation needed?Likelihood of vendor survival
Frank Online Marketing – Please contact for permission to copy or use tema(at)frankonlinemarketing.com
Multi-Channel Challenges55% of online retail activity occurring through mobile devices (comScore)
How track behavior across multiple channels? Many mobile devices and apps don’t even support cookies
Facebook: 48% of Daily Active Users and 49% of Ad Revenue Come from Mobile (http://socialmediatoday.com/socialbarrel/1883521/facebook-says-48-percent-daily-active-
users-and-49-percent-ad-revenue-come-mobi)
Frank Online Marketing – Please contact for permission to copy or use tema(at)frankonlinemarketing.com
Think Multi-platformGoogle now has cross-device analytics
Must have the User-ID feature implemented
Only catches users who are signed in to GoogleThat may be representative enough of your target market
http://online-behavior.com/analytics/cross-device
Frank Online Marketing – Please contact for permission to copy or use tema(at)frankonlinemarketing.com
Types of attributionLast clickFirst clickEvenStore (physical world) vs digital world – who gets credit? How to share it?
Frank Online Marketing – Please contact for permission to copy or use tema(at)frankonlinemarketing.com
Data Gathering & Posting Tools
Photo by Alan, Flickr
Frank Online Marketing – Please contact for permission to copy or use tema(at)frankonlinemarketing.com
Data Gathering ToolsGoogle AnalyticsGoogle Webmaster Tools (especially for
keywords, now that no longer in basic Analytics)
Competitive Research ToolsSocial Sign-inLots of Social Listening Tools
Frank Online Marketing – Please contact for permission to copy or use tema(at)frankonlinemarketing.com
What’s the Competition Doing?
Find out what they are doing on:Their own siteSocial media of all types (including
YouTube)Advertising
Frank Online Marketing – Please contact for permission to copy or use tema(at)frankonlinemarketing.com
Competitor research tools
Free at basic level:Quantcast.com Alexa.comCompete.com Google Trends (See also “social listening tools”)
Frank Online Marketing – Please contact for permission to copy or use tema(at)frankonlinemarketing.com
Social Listening ToolsHootSuite – great for posting too
Tweetreach – reach, impressions, activities
Social Mention - Strength, Passion, Sentiment and Reach (for comp analysis too)
Addictomatic – includes Bing & more
Bottlenose.com – fun to watch
Klout – influence score & more…
Frank Online Marketing – Please contact for permission to copy or use tema(at)frankonlinemarketing.com
More free toolsFacebook Insights
[don’t just “boost post”; you want your investment going to likely prospects]
Twitter AnalyticsYouTube PinterestEtc. … Almost all platforms have analytics
Frank Online Marketing – Please contact for permission to copy or use tema(at)frankonlinemarketing.com
Handy Posting ToolsBitly – link shortenerBuffer – for multi-platform postinghttp://hashtagify.me/ – to find out which to use
Frank Online Marketing – Please contact for permission to copy or use tema(at)frankonlinemarketing.com
Analysis Tools
Creative Commons photo of Sigmund Freud
Frank Online Marketing – Please contact for permission to copy or use tema(at)frankonlinemarketing.com
Enough to drive you crazy!!
Review of 50 tools at http://socialmediatoday.com/pamdyer/1458746/50-top-tools-social-media-monitoring-analytics-and-management-2013
HubSpot – also a CRM tool
Domo.com - expensive
SproutSocial – free trial; after that, $59/user/mo up to $1500)
Radian 6 – for big co’s (prices start at $12K/yr)
Mention.net, Sysomos, Viralheat - For measuring social conversations
True Social Metrics (just for social media; has free trial; will also analyze competitors)
Frank Online Marketing – Please contact for permission to copy or use tema(at)frankonlinemarketing.com
More ToolsSimply Measured (has several free reports to
test out)
UberVu (no free trial)
SocialBakers (also has free data on top brands & pages, by country) has a free trial of competitive intelligence and social media measurement – looks pretty easy to use (basic is $120/month)
Quintly – nice layout; has free trial; good for competitive analysis too
Frank Online Marketing – Please contact for permission to copy or use tema(at)frankonlinemarketing.com
Tools Will Change
Remember to match what they can do with what you need to:
Measure the KPIs you selected, in order to:
Accomplish the goals you set
Frank Online Marketing – Please contact for permission to copy or use tema(at)frankonlinemarketing.com
Ask the Vendor
1. Difference between your tool and free tools?
2. How do you capture the data?
3. What is the Total Cost of Ownership?
4. What is in your free support? What is in paid?
5. Segmentation capabilities?
6. Export formats?
7. Data integration with other tools?
8. Two new features/tools/acquisitions on the horizon?
9. Why did your last two clients you lost cancel? Can we talk to them?
Source: Web Analytics 2.0 by Avinash Kaushik
Frank Online Marketing – Please contact for permission to copy or use tema(at)frankonlinemarketing.com
Google Analytics
Google Analytics Academy has great free videos; watch & learn
1. Install Universal Analytics
2. Set Conversion Goals
3. Set Filters Exclude yourselves
Frank Online Marketing – Please contact for permission to copy or use tema(at)frankonlinemarketing.com
Setting Goals in GA4 types of goals:
Destination Thank You or confirmation pageFunnel goals – where losing them?
Duration Pages/Screens per visit Event (e.g. viewed video)
Goal $ values helpful for ROI https://analyticsacademy.withgoogle.com/course01/unit?unit=4&lesson=4
Frank Online Marketing – Please contact for permission to copy or use tema(at)frankonlinemarketing.com
Testing & Refinement
Photo by Sean MacEntee on Flickr
Frank Online Marketing – Please contact for permission to copy or use tema(at)frankonlinemarketing.com
Correlation vs Causality
What else might explain the changes?
How do you separate out the effects?
Image from http://www.thevisualeverything.com/2011/12/problem-online-graphs-charts-correlation-causation/
Frank Online Marketing – Please contact for permission to copy or use tema(at)frankonlinemarketing.com
A/B Testing & MoreTest many things! (But not all at once)Test often! Test hypothesesVisual Website Optimizer (free)
Google Content Experiments (free)
Frank Online Marketing – Please contact for permission to copy or use tema(at)frankonlinemarketing.com
Return on InvestmentROI = Investment – Revenues
InvestmentInvestment includes:
Staff costsOverhead that can be attributed to that
medium or effortOutsourcing costs, e.g. design, hosting,
subscriptions, software, tools
Frank Online Marketing – Please contact for permission to copy or use tema(at)frankonlinemarketing.com
Essential ToolsGoogle AnalyticsHootsuite or equivalentBuffer or equivalentBit.ly or equivalentA/B Testing tool
Frank Online Marketing – Please contact for permission to copy or use tema(at)frankonlinemarketing.com
Future? Better in-store tracking & linking with online
channelsReal-time data, sync’d across channels Give shoppers incentive to let you access
their data (cell phone or face triggered) as soon as they enter your store (or are even near it)
E.g http://www.shopperception.com/ for in-store shopper tracking (video)
Thank Youtema@frankonlinemarketing.com780-249-9262
LinkedIn: http://www.linkedin.com/in/temafrankTwitter: twitter.com/temafrankFacebook: facebook.com/frankonlinemarketingGoogle+: plus.google.com/+FrankOnlineMarketingWebsite: frankonlinemarketing.com
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