defining your association value
Post on 21-Oct-2014
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DESCRIPTION
We are constantly challenged to find the ROI on digital content, whether it is social media, email or website based. Learn how one association determined the value of their subscribers and used those metrics to leverage their content marketing efforts in a wide array of mediums.TRANSCRIPT
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Gregory Wright@G_J_W
June 18, 201411:45 AM - 12:15 PM
#MMCCon EW2
Defining YourAssociation Value
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Social Media
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#MMCCon EW2
• What is the value of a follower/fan/like?
• What is member engagement?
• How do I measure member engagement?
• Where do revenue generating activities come into play?
• What does all this mean?
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#MMCCon EW2
Track Product Sales
• Track conversion• What drove members
to buy a product?• Append a code to
product URL– IBM Digital Analytics
(Coremetrics)– Google Analytics– Ecommerce platform
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#MMCCon EW2
http://www.cpa2biz.com/AST/Main/CPA2BIZ_Primary/PersonalFinancialPlanning/PRDOVR~PC-PPF1404/PC-PPF1404.jsp ?cm_mmc_o=dzgw_BBLCjC5A_kbgzfbBECjCnivSixCjCVVdvSiS• Vendor• Category• Placement• Date• Item Name
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#MMCCon EW2
Define the Value of Your Likes
1. Total your revenue from Facebook
2. Divide by number of “Likes”
3. Equals the value of a Facebook “Like”
$50,000 (annual revenue)/ 25,000 (“Likes”)=$2.00 (value of a “Like”)
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#MMCCon EW2
• Wouldn’t it be great if every “like” meant an engaged member?
• But what is engagement?
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Other Digital Content
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#MMCCon EW2
• What is the value of a visitor?
• What is member engagement?
• How do I measure member engagement?
• Where do revenue generating activities come into play?
• What does all this mean?
![Page 10: Defining Your Association Value](https://reader034.vdocument.in/reader034/viewer/2022051816/5445a1a1b1af9fcb068b45e6/html5/thumbnails/10.jpg)
#MMCCon EW2
Track Product Sales
• Track conversion• What drove members
to buy a product?• Append a code to
product URL– IBM Digital Analytics
(Coremetrics)– Google Analytics– Ecommerce platform
![Page 11: Defining Your Association Value](https://reader034.vdocument.in/reader034/viewer/2022051816/5445a1a1b1af9fcb068b45e6/html5/thumbnails/11.jpg)
#MMCCon EW2
http://www.cpa2biz.com/AST/Main/CPA2BIZ_Primary/PersonalFinancialPlanning/PRDOVR~PC-PPF1404/PC-PPF1404.jsp ?cm_mmc_o=dzgw_BBLCjC5A_kbgzfbBECjCnivSixCjCVVdvSiS• Vendor• Category• Placement• Date• Item Name
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#MMCCon EW2
Define the Value of Your Likes
1. Total your revenue from website
2. Divide by number of unique visitors
3. Equals the value of an unique visitor
$5,000,000 (annual revenue)/ 300,000 (unique visitors)=$16.67 (value of a visitor)
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#MMCCon EW2
• Wouldn’t it be great if every visitor meant an engaged member?
• But what is engagement?
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E-Newsletters
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#MMCCon EW2
• What is the value of a subscriber?
• What is member engagement?
• How do I measure member engagement?
• Where do revenue generating activities come into play?
• What does all this mean?
![Page 16: Defining Your Association Value](https://reader034.vdocument.in/reader034/viewer/2022051816/5445a1a1b1af9fcb068b45e6/html5/thumbnails/16.jpg)
#MMCCon EW2
Track Product Sales
• Track conversion• What drove members
to buy a product?• Append a code to
product URL– IBM Digital Analytics
(Coremetrics)– Google Analytics– Ecommerce platform
![Page 17: Defining Your Association Value](https://reader034.vdocument.in/reader034/viewer/2022051816/5445a1a1b1af9fcb068b45e6/html5/thumbnails/17.jpg)
#MMCCon EW2
http://www.cpa2biz.com/AST/Main/CPA2BIZ_Primary/PersonalFinancialPlanning/PRDOVR~PC-PPF1404/PC-PPF1404.jsp ?cm_mmc_o=dzgw_BBLCjC5A_kbgzfbBECjCnivSixCjCVVdvSiS• Vendor• Category• Placement• Date• Item Name
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#MMCCon EW2
Define the Value of Your Subscribers
1. Total your revenue, including ad sales
2. Divide by number of subscribers
3. Equals the value of a subscriber
$1,000,000 (annual revenue)/ 400,000 (subscribers)=$2.50 (value of a subscriber)
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#MMCCon EW2
• Wouldn’t it be great if every subscriber was engaged?
• But what is engagement?
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Defining Engagement
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#MMCCon EW2
Define Engagement
• Engagement is…– NOT auto opt in/ passive user– actively engaged– more likely to purchase product / click a link
• Identify corresponding metrics…– Open rate?– Clickthrough rate?– Product conversion rate?
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#MMCCon EW2
Calculate the Value of Engagement
0.30 (open rate)X 400,000 (subscribers)= 120,000 (active subscribers)
$1,000,000 (total revenue)/ 120,000= $8.33 (value of an active subscriber)
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#MMCCon EW2
Now What?
• Cost per active subscriber acquisition• PPC/CPA ads • Marketing campaign– Direct mail– Trial campaigns– Banner ads in other newsletters
• Apply to all communications– Social media– E-newsletters– Web content
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#MMCCon EW2
Contact MeGregory Wright
Communications ManagerAmerican Institute of CPAs
@G_J_Wslideshare.net/daspion
youtube.com/user/lxa1801