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@argylesocial
Data Driven Social Media Marketing
Four data-driven insights to help you turn your social media marketing into a revenue-generating machine.
Presented September 6, 2011 at Social Fresh Charlotte
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@argylesocial
@argylesocial@ericboggs@jthandy
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@argylesocial
In God we trust. All others must bring data.
W. Edwards Deming
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@argylesocial
In God we trust. All others must bring data.
W. Edwards DemingThere is no “data” confirming that Deming actually said this.
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@argylesocial
“On the web, (this quote) has been widely attributed to Deming and Robert W. Hayden; however Prof. Hayden told us that he can claim no credit for this quote, and ironically we could find no ‘data’ confirming Deming actually said this.”
The Elements of Statistical Learning, 2nd Edition, PrefaceHastie, Tibshirani, Friedmand
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@argylesocial
“On the web, (this quote) has been widely attributed to Deming and Robert W. Hayden; however Prof. Hayden told us that he can claim no credit for this quote, and ironically we could find no ‘data’ confirming Deming actually said this.”
The Elements of Statistical Learning, 2nd Edition, PrefaceHastie, Tibshirani, Friedmand
Beware rules of thumb. Data reveals the truth.
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@argylesocial
A Delicious Slice of Argyle User Data
• Aggregated and anonymous• December 2010 through May 2011• 70k+ posts• 381 organizations; all industries, all sizes
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@argylesocial
Definitions
• Post: a single piece of content published via Argyle Social.
• Click: a redirection from an Argyle short URL, published via Argyle Social.
• Conversion: direct or indirect completion of an Argyle Goal as a result of a click on a post published via Argyle Social.
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@argylesocial
Conversions?
• Social Media Marketing = Marketing• Marketing = Driven By Outcomes
• If A=B & B=C, then A=C.
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@argylesocial
Insight #1 RSS Automation Works
RSS Manual0
5
10
15
20
25
30
Clicks by Posting Method
Posting Method
Clic
ks
RSS Manual$0
$50
$100
$150
$200
$250
$300
Revenue by Posting Method
Posting MethodR
ev
en
ue
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@argylesocial
Insight #1 RSS Automation Works
RSS Manual0
5
10
15
20
25
30
Clicks by Posting Method
Posting Method
Clic
ks
RSS Manual$0
$50
$100
$150
$200
$250
$300
Revenue by Posting Method
Posting MethodR
ev
en
ue
RSS automation is just as effective as posting manually.
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@argylesocial
Insight #2 Scheduled Posts Generate Clicks, Not Conversions
<2min 2-30min 30min-3hrs
3-12hrs 12-24hrs
>24hrs $-
$50
$100
$150
$200
$250
$300
$350
$400
Timeliness vs. Influenced Revenue
Posting Delay
Infl
uen
ced
Rev
enu
e
Posted Immediately Scheduled for Later0
5
10
15
20
25
Timeliness vs. Traffic
Posting Timeframe
Cli
cks
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@argylesocial
Insight #2 Scheduled Posts Generate Clicks, Not Conversions
<2min 2-30min 30min-3hrs
3-12hrs 12-24hrs
>24hrs $-
$50
$100
$150
$200
$250
$300
$350
$400
Timeliness vs. Influenced Revenue
Posting Delay
Infl
uen
ced
Rev
enu
e
Posted Immediately Scheduled for Later0
5
10
15
20
25
Timeliness vs. Traffic
Posting Timeframe
Cli
cks Scheduled posts drive traffic.
Timeliness drives conversions.
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@argylesocial
Insight #3Hashtag Stuffing Doesn’t Work
52%
21%
26%
How Effective are Posts with Hashtags?
Posts with Hashtags UnderperformNo Significant DifferencePosts with Hashtags Outperform
-70%
-50%
-30%
-10% 10
%30
%50
%70
%90
%11
0%
0
5
10
15
20
25
Relative Performance of Hashtag vs Non-Hash-tag Posts
Performance Increase (Decrease) of Posts with Hashtags
# o
f T
wit
er
Ac
co
un
tsDon’t target content to hashtags. Target hashtags to content when relevant.
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@argylesocial
Insight #3Hashtag Stuffing Doesn’t Work
52%
21%
26%
How Effective are Posts with Hashtags?
Posts with Hashtags UnderperformNo Significant DifferencePosts with Hashtags Outperform
-70%
-50%
-30%
-10% 10
%30
%50
%70
%90
%11
0%
0
5
10
15
20
25
Relative Performance of Hashtag vs Non-Hash-tag Posts
Performance Increase (Decrease) of Posts with Hashtags
# o
f T
wit
er
Ac
co
un
ts
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@argylesocial
Insight #4Curating Drives Clicks…Creating Drives Conversions
Curators
Balanced
Promoters
0 10 20 30 40 50 60
Clicks Per Post
Curators
Balanced
Promoters
0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 3.0%
Click To Conversion
Curators
Balanced
Promoters
0.0% 50.0% 100.0% 150.0%
Post Conversion Rate
Sample Breakdown
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@argylesocial
Insight #4Curating Drives Clicks…Creating Drives Conversions
Curators
Balanced
Promoters
0 10 20 30 40 50 60
Clicks Per Post
Curators
Balanced
Promoters
0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 3.0%
Click To Conversion
Curators
Balanced
Promoters
0.0% 50.0% 100.0% 150.0%
Post Conversion Rate
Sample Breakdown
Over-curating is ineffective.
Over-promoting isn’t as ineffective as you might think.
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@argylesocial
Thank you very much.
Eric Boggs@ericboggshttp://argylesocial.com
Do or do not. There is no try.
~Albus Dumbledore
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@argylesocial
A Brief Aside Re: Conversions
Two Types of Marketing Channels
Intent Generating channels build consumer awareness and interest, creating an intention to purchase a product.
Intent Harvesting channels capture consumer intent to purchase and drive them to the cash register.
Two Types of Conversion Tracking
Multi-touch tracking attributes revenue to all of the channels that touched the consumer on their path through the funnel.
Last-touch tracking attributes all of the revenue for a purchase to the last channel that touched the customer prior to the sale.
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@argylesocial
DATA-DRIVEN SOCIAL MEDIA MARKETING
Practicing
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@argylesocial
The Social Media Marketing Funnel
• Your goal as a marketer is to
move people down the funnel.
• Key Insight: every step is
measurable.– Awareness: Fans
– Interest: Clicks
– Action: Conversions
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@argylesocial
Measuring Awareness: Fans
• Raw numbers and trends are easy but not very instructive. Compare with something real to make judgments:
– B2BCompare total fan count to lead count. Aim for 1:1 ratio.
– Consumer ProductsCompare fan count to customer count. Aim for 1:1 ratio.
– Newspapers & BlogsCompare fan count to website uniques. Aim for 15%.
How many fans do you have? Fan count is important, but it’s just one of many
numbers that lead to success in social media
marketing.
Fan / Follower counts are important for normalizing other social media marketing metrics!
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@argylesocial
Measuring Interest: Clicks
Metrics in Action
Clicks Posts Clicks per Post
Which is better?
Which is worse?
Increase in clicks is driven by increase posting frequency
Increase in clicks is driven by more engaging content
Decrease in clicks is driven by less engaging content
Decrease in posts is drive by fewer posts—easy to fix!
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@argylesocial
Measuring Action Requires Attribution
• Social media builds
awareness and interest in
your brand but doesn’t
usually lead directly to
sales…
• …but you can still measure
its impact on revenue!
• The secret: use multi-
touch conversion tracking.
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@argylesocial
Measuring Action: Conversions
KPIs• Revenue• Conversion count• Revenue per conversion• Conversion rate
Key Questions
• What is your call to action strategy?• What offers work best?• Are you using landing pages?