Making Dollars and Cents of Social Media: Part 2

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.2

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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


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]

mailto:[email protected]


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/


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?

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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?

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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


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


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…


Buffer


Hootsuite


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)


Next: A Word (or Two) About ROI

“What is the ROI of your mother?”

- Gary Vaynerchuck


So, You Want to Calculate ROI?

ROI is just 1 metric

It may not even be the most important metric!


What Does ROI Measure?


Remember, Nothing is …


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


The Intangibles of ROI

Attribution can be difficult to determine

http://gillin.com/blog/2010/06/how-to-calculate-social-marketing-roi/


Calculating Value – Not Just $$

http://gillin.com/blog/2010/06/how-to-calculate-social-marketing-roi/


An Approach to Measuring Both Awareness-Driven and Lead Generation Focused Campaigns


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

http://bit.ly/1qMJEep



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 *




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





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:





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:





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/

http://www.wikihow.com/Measure-Social-Media-ROI

http://www.wikihow.com/Measure-Social-Media-ROI

http://www.socialmediaexaminer.com/measure-social-media-roi/

http://www.socialmediaexaminer.com/measure-social-media-roi/


Awareness vs Engagement in Social Media


Facebook (Page Insights)


LinkedIn (Group Statistics)


Twitter (Ads Analytics)


Twitter (TweetReach)


Blogs and Websites (Share of Voice – Awareness)


Blogs and Websites (Google Analytics – Acquisition)


Blogs and Websites (Google Analytics - Goals)


What’s Next?

How should you prioritize your 2015 marketing efforts?


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


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

Questions

Todd Van Hoosear: [email protected]

@vanhoosear

Business

Making Dollars and Cents of Social Media: Part 2