social media metrics and roi

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Social media Strategy and ROI

How do we strategize and manage social media?

How do consumers make purchase decisions?How do consumers consume media?How do consumers consume messages?

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How do consumers make purchase decisions?

AwarenessPurchase IntentBrand preferencesLoyaltyMedia Recency


ConsumerFocus

Shopping ProcessBrand Preference

Upper & Lower Funnel

Loyalty & Prior Use

PriceConsideration

How does the process differ for price/ consideration/ other?


How do consumers consume media?


The Zigzag Enigma & Last Touch Attribution$$$ Purchase (Us) $$$Step 136% start in search engine49% conducted 4+ searchesStep 232% visited specific site13% reviewed content36% Used 2+ devicesStep 317% Reviewed content14% Read customer reviews35% Used 2+ locationsStep 411% Read customer reviews8% Reviewed content8% Read professional reviews

Source: IDCDesktop Search (Unbranded)Aggregate measurableMobile Search(Branded)Branded measurable (click)Physical StoreBranded measurableReviews (Yelp)Some measurable, some notMobile AdMeasurable ?Retargeting (Us)MeasurableDesktop AdMeasurableTablet Search(Unbranded)Aggregate measurableTablet Online Store (Us)Measurable (visits, cookies)The consumer path we see

The Zigzag Enigma & Last Touch Attribution$$$ Purchase (Us) $$$$$$ Purchase (them) $$$Step 136% start in search engine49% conducted 4+ searchesStep 232% visited specific site13% reviewed content36% Used 2+ devicesStep 317% Reviewed content14% Read customer reviews35% Used 2+ locationsStep 411% Read customer reviews8% Reviewed content8% Read professional reviews

Source: IDCActual customer pathDesktop Search (Unbranded)Aggregate measurableMobile Search(Branded)Branded measurable (click)Physical StoreBranded measurableReviews (Yelp)Some measurable, some notMobile AdMeasurable ?Retargeting (Us)MeasurableDesktop AdMeasurableNot MeasurableCompetitive AdTablet Search(Unbranded)Aggregate measurableTablet Online Store (Us)Measurable (visits, cookies)Retargeting (Them)Not Measurable

Competitive Online StoreNot Measurable


Source: IDCDesktop Search (Unbranded)Aggregate measurableMobile Search(Branded)Branded measurable (click)Physical StoreBranded measurableReviews (Yelp)Some measurable, some notMobile AdMeasurable ?Retargeting (Us)MeasurableDesktop AdMeasurableNot MeasurableCompetitive AdTablet Search(Unbranded)Aggregate measurableTablet Online Store (Us)Measurable (visits, cookies)Retargeting (Them)Not Measurable


Very diverse pathsMany data holesPaths vary by time of day, day of week


Source: IDCActual customer pathDesktop Search (Unbranded)Aggregate measurableMobile Search(Branded)Branded measurable (click)Physical StoreBranded measurableReviews (Yelp)Some measurable, some notMobile AdMeasurable ?Retargeting (Us)MeasurableDesktop AdMeasurableNot MeasurableCompetitive AdTablet Search(Unbranded)Aggregate measurableTablet Online Store (Us)Measurable (visits, cookies)We need a method that tracks virtual paths & constructs all possible actual paths by combining aggregated, high-level and lower level detail dataRetargeting (Them)Not Measurable



How do consumers consume messages?

The first 5 secondsEye-magnet wordsImagesScarcityIn-marketThe stubborn prospectSocial proofPriceLoss aversionConsistency principleAuthority principleJournalistic secretSuccess days



The first five secondsThe logo/brand ID early onVideoThe VoiceBeer bottles and bikinis

How do consumers consume messages?Email

3 second rule scanning the subject line15 second rule scanning not reading

Eye magnet wordsNew, now, introducing, announcingName [Guy] the principle of likingEasy, quick, improvedFree, low-cost bend the value curveUse with care [spamfilters]

Source: https://event.webcasts.com/viewer/event.jsp?ei=1100938

The principle of liking - We like ourselves 18 22% increased open rates19

How do consumers consume messages?Consistency Principle

When we write something down we want to be consistent with what we wrote into the future otherwise there would be cognitive dissonance. (e.g., the value of a like)

The small ask

The small ask

The small ask

The small ask

The 3 inch sign then the billboard20


Vanity metrics or the real thing?

Top questionsBrand/non brand attribution Cross device trackingFull-funnel messaging alignmentMulti-channel marketing

Marketing successBreakevenSocialIn order to measure social success correctly we need to understand its impact on sales

Brand SuccessAnd we need to understand how social drives brand imagery

The progression of analytic methods

What about delivering information that leads to great innovation. How can MR play a role in innovation?

Intangibles not easily counted

Uncovering new opportunities, things that you didnt know

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Something that can optimize in a weekly cycle or more quicklySomething that can make reasonable assumptions Something that learns as more data is presentedSomething that models the consumer purchase behaviorSomething that includes the halo effects between media

RequiresMedia data across all message types across all competitors (as best as possible)Pricing, distribution, brand and product data

What is Needed

Cloud of all searchesThe digital landscapeOwn MediaCompetitive MediaExternal factors - life events - seasonalityBranded search - YOUR company name hereUn-Branded search - Fix furnace - Repair water heater - Replace tankless water heaterBranded search volumes driven by BRAND & MEDIAWhat is the linkage between - short term media and branded search(long term) brand and branded search

Weaknesses of these approachesLast Touch AttributionOnly looks at the click; ignores brand and competitive touchesExperimental DesignProvides short term tests, but limited in the complexity of the testsWith everything changing constantly, difficult to fully attribute effects in statistically significant waysDifficult to achieve good baselineMarketing Mix ModelingCant handle overly complex environments; the number of variables are limitedHas strict requirements on data periodicityMedia centric

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