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Making Dollars and Cents of Social MediaDriving Revenue Growth Through Content Marketing
Session 2: Measuring Your Success
Hosted by: Progress Partner Marketing
Presenter: Todd Van Hoosear, VP, Public Relations & Stakeholder Engagement at HB Agency
© 2014 Progress Software Corporation. All rights reserved.4
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Making Dollars and Cents of Social MediaDriving Revenue Growth Through Content Marketing
Session 2: Measuring Your Success
Hosted by: Progress Partner Marketing
Presenter: Todd Van Hoosear, VP, Public Relations & Stakeholder Engagement at HB Agency
Making Dollars and Cents of Social Media
Todd Van Hoosear, VP, Public Relations & Stakeholder Engagement at HB Agency
© 2014 Progress Software Corporation. All rights reserved.7
Your Program Leader
• You’ll have questions, ideas and concerns
• We’ll have a Q&A at the end of this call
• Or you can tweet your questions to me @vanhoosear using the #smprgs hashtag
• Or you can email me privately at [email protected]
© 2014 Progress Software Corporation. All rights reserved.8
Outcomes: What You’ll Get Out of This Program
You’ll know how to find your current and prospective customers online and build a content marketing program that reaches them
You’ll be familiar with accepted and emerging marketing measurement techniques on the major social media platforms
You’ll know how to measure your success
http://www.flickr.com/photos/tworubies/5212375665/
© 2014 Progress Software Corporation. All rights reserved.9
Agenda – Day 1
1. Social media and the marketing world: What’s new, and why you should care?• Key Question: Where online are your customers, competitors and influencers?
2. The evolution of content marketing: The intersection of stories, search and social• Key Question: Which content forms are resonating with your customers and
influencers?
3. Eyes vs wallets: The two major social marketing strategies• Key Question: Which of the two key strategic marketing approaches will you take?
1
© 2014 Progress Software Corporation. All rights reserved.10
Agenda – Day 2
4. How to measure your awareness-building campaign• Key Question: Are your marketing efforts reaching the right people? Are they
converting?
5. How to measure your lead generation campaign• Key Question: Which sources, campaigns and nurturing activities generate the
most value?
6. What’s next: Where is this technology and marketing heading?• Key Question: How should you prioritize your marketing efforts in 2015?
2
© 2014 Progress Software Corporation. All rights reserved.11
But First, By Special Request: How to Look Like a Content Marketing Star
“But I don’t have time for social media!”
- Almost every CEO I’ve worked with
© 2014 Progress Software Corporation. All rights reserved.12
A Day in the Life of a Content Marketer
6am: Check Twitter
6:15am: Check Twitter again. Anything new?
6:30am: Check Twitter. Did someone just tweet at me?
6:45am: Check Twitter yet again. Why hasn’t anybody tweeted me?
7:00am: Drive to work. How am I supposed to check Twitter?
7:30am: This Twitter withdrawal is going to kill me!
8:00am: Finally, I can check Twitter again.
… etc., ad infinitum
© 2014 Progress Software Corporation. All rights reserved.13
My Secret Sauce
1. I subscribe to my favorite blogs via
• Feedly (for reading on my mobile phone)
• Email subscriptions
2. I aggregate my favorite blog content into a single email using Yahoo! Pipes, IFTTT and Feedburner so I get one or two emails a day with headlines and links
3. If I find an article I want to curate and share, I use two browser plugins…
© 2014 Progress Software Corporation. All rights reserved.16
A Real Day in the Life of a Content Marketer
6am: Check Twitter
6:15am: Check email quickly
6:30am: Get ready for work
7:00am: Head into office
8:00am: Read my digests and blogs and curate
8:30am: Get on with the real work…
(Oh yeah, and check Twitter)
© 2014 Progress Software Corporation. All rights reserved.17
Next: A Word (or Two) About ROI
“What is the ROI of your mother?”
- Gary Vaynerchuck
© 2014 Progress Software Corporation. All rights reserved.18
So, You Want to Calculate ROI?
ROI is just 1 metric
It may not even be the most important metric!
© 2014 Progress Software Corporation. All rights reserved.21
The Tangibles of ROI
(Gain from Investment – Cost of Investment)
Cost of InvestmentROI (%) =
Gain: Total revenue generated that can be attributed to the program / campaign
(If the program or campaign is not aimed at revenue generation, you can substitute “cost savings”)
Cost: Total cost of program / campaign, including:
Staff time, calculated by FTE %age of salary or hourly rates
Hard costs
© 2014 Progress Software Corporation. All rights reserved.22
The Intangibles of ROI
Attribution can be difficult to determine
http://gillin.com/blog/2010/06/how-to-calculate-social-marketing-roi/
© 2014 Progress Software Corporation. All rights reserved.23
Calculating Value – Not Just $$
http://gillin.com/blog/2010/06/how-to-calculate-social-marketing-roi/
© 2014 Progress Software Corporation. All rights reserved.24
An Approach to Measuring Both Awareness-Driven and Lead Generation Focused Campaigns
© 2014 Progress Software Corporation. All rights reserved.25
Valuation is Just One of Five Key Metric Categories
1. Inputs
2. Outputs
3. Outtakes
4. Outcomes
5. Valuationhttp://bit.ly/1qMJEep *
Hat tip (or h/t as we say in social media) to “Measurement Queen” Katie Paine
If you click the link below, you’ll go to http://www.hbagency.com/sightplan/?utm_source=ProgressJune2014Webinar&utm_medium=webinar&utm_campaign=speaking
© 2014 Progress Software Corporation. All rights reserved.26
Inputs (Important for Both)
A fair description of what your team had to work with to start off with
Goal: Share responsibility for success and failure with all relevant parties
Sample inputs that I use in my job as an agency PR and social media guy:
http://bit.ly/1qMJEep *
© 2014 Progress Software Corporation. All rights reserved.27
Outputs (Important for Both)
The direct result of marketing efforts as measured by the physical product (content) generated by your team
Goal: Measure the “thud factor” (a very traditional PR metric)
Sample output metrics that I use in my job as an agency PR and social media guy:
* Weighted by the Four Rs of Influence
1. Reach2. Relevance3. Reputation4. Receptivity
http://bit.ly/1qMJEep *
© 2014 Progress Software Corporation. All rights reserved.28
Outtakes (Ideal for Measuring Awareness-Driven Programs)
How people change their thinking as a result of your outputs (efforts)
Goal: Demonstrate how you’re changing minds.
Sample outtake metrics that I use in my job as an agency PR and social media guy:
http://bit.ly/1qMJEep *
© 2014 Progress Software Corporation. All rights reserved.29
Outcomes (Ideal for Measuring Lead Gen-Focused Programs)
How people’s behavior change as a result of your outtakes
Goal: Move people further down the sales funnel at every engagement
Sample outcome metrics that I use in my job as an agency PR and social media guy:
http://bit.ly/1qMJEep *
© 2014 Progress Software Corporation. All rights reserved.30
Valuation
ROI is a useful way to calculate value
However, as we’ve discussed, it’s only one measure of value
Also, it doesn’t fall neatly into any of the four previous categories we’ve identified
In fact, it spans a few of them
The industry is working on better ways to measure and calculate the value of its tools, services and techniques
Until our vendors make the effort to embrace standards and interact with other vendors to create new standards, the work is left to us, the marketing practitioners tasked with demonstrating the value of all of our efforts
Two other useful explorations of social media and marketing ROI/valuation: http://www.wikihow.com/Measure-Social-Media-ROI and http://www.socialmediaexaminer.com/measure-social-media-roi/
© 2014 Progress Software Corporation. All rights reserved.31
Awareness vs Engagement in Social Media
© 2014 Progress Software Corporation. All rights reserved.36
Blogs and Websites (Share of Voice – Awareness)
© 2014 Progress Software Corporation. All rights reserved.37
Blogs and Websites (Google Analytics – Acquisition)
© 2014 Progress Software Corporation. All rights reserved.38
Blogs and Websites (Google Analytics - Goals)
© 2014 Progress Software Corporation. All rights reserved.39
What’s Next?
How should you prioritize your 2015 marketing efforts?
© 2014 Progress Software Corporation. All rights reserved.40
The Top 7 Social Media Marketing Trends Dominating 2014
1. Social Media is Up. With 92% of business owners indicating that social media is important to their business in 2014, many are re-allocate budgets away from traditional methods of advertising towards social media and other inbound marketing strategies
2. Google+ is Down. With Google announcing earlier this year that social signals are not part of their ranking algorithm and the recent decision to remove Authorship photos from the search results, it’s not surprising that some marketers are confused about how Google+ is different or better than Facebook or Twitter.
3. Images are Up. Pinterest, Instagram and Twitter images are increasingly popular.
4. Videos are Up. Vine, Instagram video usage is up, but penetration is still low: only 28% of brands use Instagram and 7% of brands use Vine.
5. Foursquare is Down. Location-aware apps are ever-popular, but Fousquare’s recent efforts to split its app has led to confusion and a decline in usage.
6. Myspace isn’t Dead Yet. Myspace got a new look last year, but has been slow to reach any kind of critical mass. But with ambiguity around Google+, there could be opportunity to grow.
7. LinkedIn is Up. Way Up. It’s not the only home for B2B marketing anymore, but recent efforts to drive more views and engagement seem to be paying off.
http://onforb.es/1ACfEUD
© 2014 Progress Software Corporation. All rights reserved.41
What to Expect in 2015
The Collaborative Economy will extend its reach everywhere
Ephemeral media and the right to forget will battle it out against fans of forgiveness
The CMO is rising
The machines are coming
Responsive brands rule
Your ebook on these and other major trends will be arriving next week for all the participants in the live webinar.
http://onforb.es/1pI6U6O