My presentation from Zenith Social Media Marketing 2014. Go through it to learn about how you can use paid social media advertising promotions and measure results to better track ROI to impact actual business objectives.
Exploring Web 3.0 Growth marketing: Navigating the Future of the Internet
How to Use Paid Social Advertising Promotions to Drive Measurable Business Objectives - Zenith 2014
1. Grant Tilus
Associate Inbound Marketing Manager
#Zenith2014
How to Use Paid Social Promotions
to Drive Measurable Business
Objectives
2. Grant Tilus
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Associate Inbound
Marketing Manager,
Collegis Education
Director of Content
Marketing, MnSearch.org
@GrantTilus
plus.google.com/+GrantTi
lus
3. Are You a Small Business Owner/Employee?
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4. You Used To Love Social Media
Marketing
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5. But Then Things Started to Change
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6. And Your Like…
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7. Some Decided to Moved On
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8. But You See the Value in Social Media
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(2014 Social Media Marketing Industry Report)
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9. This is Rented Land
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10. They Are In Control
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11. Trying to Be Nice
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12. The Free Ride is Over
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13. It’s Time to Start Thinking Bigger
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14. Because Social Promotion Still Matters
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15. Local Advertising Options (Not Very Targeted)
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16. Targeted Social Advertising Examples
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17. Not Everyone is Taking Paid Promotions
Seriously…Yet
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(2014 Social Media Marketing Industry Report)
@GrantTilus
18. Time to Rethink Your Social Promotion
Strategy?
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19. Business Goals Haven’t Changed
Brand Reputation
Build Brand Awareness
Drive Customer Actions
Increase Customer Loyalty
*All of These Goals Can Be Positively Impacted And Tracked
Through the Use of Paid Social Media Amplification and
Analytics
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20. Brand Reputation Goal Examples
Increasing Amount of Positive Online
Reviews
Decrease Negative Sentiment Online
Gain Customer Feedback for
Improvements
Increase Customer Referrals via
Online Sharing
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21. Brand Awareness Goal Examples
Increase Social Media
Impressions
Increase Website Traffic
Increase Number of New
Customers via Social
Media
Increase Customer
Referrals
Increase Brand
Conversations
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22. Drive Customer Action Goal Examples
Increase Repeat Customers
Drive Special Event Sales
Increase Average Amount
Spent
Increase Foot Traffic During
Slow Business Hours
Add Newsletter Subscribers
Increase Content Shares
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23. Customer Loyalty Goal Examples
Increase Customer Retention
Crowd Source New Product Ideas
Increase Customer Frequency
Drive Additional Brand Loyalists
Increase Customer Referrals
Growth Loyalty Program
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24. Develop SMART Goals
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25. Set Baseline Metrics
Tools for Collecting Data:
Facebook Insights
Social Bro
Twitter Analytics Suite
Circle Count
True Social Metrics
Google Analytics
Google Alerts
Topsy
Excel
Simply Measured
Social Mentions
Bit.ly
Raven Tools
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26. Let’s Start by Discussing The Platforms
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27. Let’s Talk About
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28. Facebook Ad Objectives
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29. Facebook Ad Audience Targeting
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Location (Country, State, City+ or Zip)
Age (13+) / Gender / Languages
Demographics (Relationships, Education, Work, Financial, Home,
Ethnic Affinity, Generation, Parents, Politics, Life Events)
Interests (E.g. Breaking Bad, Shopping, Tea)
Behaviors (E.g. Charitable donations, Digital Activities, Travel)
Connections (Include People, Exclude People, Include Friends)
Custom Audience
Facebook Audience Network
New
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30. Facebook Campaigns
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31. Facebook Costs
Assign Budgets by Campaigns and Ad Sets
Ad Costs:
Daily or Lifetime Budgets
CPM or CPC
Bidding
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32. Facebook Analytics
Reach
Clicks
Click Through Rate (CTR)
Cost Per Click (CPC)
Cost Per Action (Based on Objective)
Website: Conversions, Checkouts, Registrations, Leads,
Views, Event Responses and More
*Remember to Start by Developing a Baseline
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33. Facebook Analytics Best Practices
Track the Data Points that Matter Based on Your Goals
Use the Right Tools: Facebook Insights, True Social Metrics,
Google Analytics, Excel
ABT (Always Be Testing)
Objectives
Goals
Tactics
Find the Important Data Points
Track Your Competitors
*Track Overall Results Each Month to Compare MoM, QoQ or
YoY
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34. Paid Facebook Ads Example
Business Goal: Drive
Customer Action to Increase
Sales
Paid Promotion Tactic: Utilize
Offer Claims In Order to Drive
Increased Foot Traffic and
Sales About Memorial Day
Special Targeted at Local
Veterans
Digital Metrics
Reach
CTR
CPC
Total Spend
Business Metrics
Gross Sales with Offer
Average Sale Per Customer
Number of Offers Redeemed
Number of New Customers
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35. Facebook Example #2
Business Goal: Increase
Customer Loyalty (Customer
Visit Frequency)
Paid Promotion Tactic: Utilize
Custom Audiences to Create
Special Promotions for
Previous Customers
Digital Metrics
Reach/Impressions
CTR
CPC
Downloads
Total Spend
Business Metrics
Gross Sales with Offer
Average Sale Per Customer
Number of Offers Redeemed
Customers Enrolled in Loyalty
Program
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36. Up Next
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37. Twitter Ads
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38. Twitter Ad Details
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39. Twitter Audience Targeting
Keywords
Interests and Followers
Television
Tailored Audiences
Locations
Where Promotions Appear
Devices
Gender
Language
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40. Twitter Campaign
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41. Twitter Costs
Assign Daily or Lifetime Budgets per Campaign
Costs Per Click / Cost Per Engagement
Bidding
Pacing Options
Standard
Accelerated
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43. Twitter Analytics Best Practices
Track the Data Points that Matter Based on Your Goals
Use the Right Tools: Twitter Analytics, True Social Metrics,
Google Analytics, Excel, Bit.ly
ABT (Always Be Testing)
Wording
CTA’s
Creative
Targeting
Double Check the Clicks You Receive
Track Your Competitors
*Track Overall Results Each Month to Compare MoM, QoQ or
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44. Paid Promotion Twitter Example
Business Goal: Build Brand Awareness Surrounding Local
Events
Paid Promotion Tactic: Utilize a Promoted Tweet Campaign to
Drive Additional Brand Awareness Surrounding a Local
Community Event
Digital Metrics
Impressions
Engagements
Follows
Total Spend
Online Brand Mentions
Business Metrics
Increased Foot Traffic
Increased Brand Awareness
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45. Up Next
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64% of marketers plan to increase LinkedIn participation in the near future
2014 Social Media Marketing Industry Report
@GrantTilus
46. LinkedIn
Sponsored Updates or Right Hand Ads
Text, Images or Video
Targeting Features
Location (Continent, Country, State, Metro Area)
Company (Name, Industry, Size)
Exclusion Capabilities
Job Title
Title Name
Category (Function, Seniority)
School, Skill, Groups, Gender, Age
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47. LinkedIn Cost
Daily budget must be at least $10
Minimum Bid $2
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48. LinkedIn Analytics
Impressions
Clicks
Click Through Rate (CTR)
Cost Per Click (CPC)
*Remember to Start by Developing a Baseline
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49. LinkedIn Best Practices
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Track the Data Points that Matter Based on Your Goals
Use the Right Tools: LinkedIn Analytics, True Social Metrics,
Google Analytics, Excel, Bit.ly
ABT (Always Be Testing)
Ads vs. Sponsored Updates
CTA’s
Creative
Targeting
Determine Your Goal
Track Your Competitors
*Track Overall Results Each Month to Compare MoM, QoQ or
YoY @GrantTilus
50. LinkedIn Example
Business Goal: Promote
Brand Reputation to Attract
New Talent
Paid Promotion Tactic:
Promote Sponsored Updates
In Order to Attract New
Employee Talent
Digital Metrics
Impressions
Engagement
CTR
CPC
Total Spend
Business Metrics
Phone Call Inquiries
Submitted Applications
Interviews Conducted
# of Employees Hired
Time Spent on Hiring
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51. Google+
+Post Ads
Requirements
1,000 Google+ Followers
Great for Brand Awareness
and Community Engagement
Metrics to Track:
+1’s
Comments/Mentions
Shares
Traffic
Lots of Opportunities Given
the Benefits of Using Google+
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54% of marketers are using Google+, 65%
want to learn more about it and 61% plan
on increasing Google+ activities in 2014.
(2014 Social Media Marketing Industry Report)
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52. Plenty of Options with More to Come
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53. Struggling to Prove the ROI?
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(2014 Social Media Marketing Industry Report)
@GrantTilus
54. Are You Taking It Seriously?
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#Zenith2014
(2014 Social Media Marketing Industry Report)
@GrantTilus
55. Tips for Defining Your Social Media KPIs
Consider Your Business Goals then Work Backwards to Align
Your Paid Promotion Goals and Tactics
Discover Your Baseline No Matter How Small
Use the Right Tool (Slide 25)
Set a Budget and Stick to It
Measure Social Performance As Often As You Measure Your
Businesses Performance
Create OKRs to Help You Stay on Track Toward Your KPIs
Create Quarterly and Annual Goals
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56. Get Familiar with using Google
Analytics
Event Tracking
Assisted Conversions
Referral Sources
UTM Tracking Codes/Bit.ly
Assigned Goals
Pixel Tracking
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57. Get Familiar with These New World
Advertising Platforms
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58. How to Choose Which to Focus On
Determine Which Platform Works Best for You
Follow Your Target Market
Consider the ROI When Setting Your Goals
Set New (SMART) Goals Each Quarter
Remember to review and readjust
Test Different Analytics Tools
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59. Key Takeaways
Organic and Paid Social Media Tactics are Now Necessary to
Win
Connect Your Business Goals to Social Media Goals/Tactics
Review the Social Analytics Data to Set Social KPIs and Track ROI
Your Analytics are Unique to Your Business
Determine Which Business KPIs Can Be Impacted by Paid
Promotion
Turn Inefficient Spending into Efficient Spending
Set SMART Goals to Improve from Your Baselines
Fail Fast and Remain Agile
The Targeting in on These Platforms is Unseen Anywhere
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60. Questions?
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Notas do Editor
For more than 50 years, the President of the United States has designated one week National Small Business Week, and this year, that week is May 12 through May 16. Did you celebrate it? You should. And I thank you. I grew up the son of a small business owner and love supporting them in anyway that I can. And I want to help you understand why paid social promotions are a smart move for your business.
There was a downfall in organic reach and getting your message in front of current and Prospective Customer Organically got harder and worrisome.
But we just saw from Katy’s presentation how important organic promotion still is and how you can do it.
“When we first met, you made us feel special. We’d tell you a super funny joke about Sriracha and you’d tell all our friends and then everyone would laugh together. But now? Now you want us to give you money if we want to talk to our friends. Now when we show you a photo of a taco wrapped with bacon, you’re all like “PROMOTE THIS POST! GET MORE FRIENDS!” instead of just liking us for who we are.”
“But you see the value in taken advantage of reaching current and prospective customers on these platforms so you’re not going anywhere.”
“But it’s important to remember that social media platforms are rented land and the landlords can decide to do whatever they want, whenever they want.”
They have made it really easy to run campaigns and test targeting options.
The minimum cost for a click is $0.01.
Remember to Start by Developing a Baseline of Paid Promotion versus what Organic Data. Then continue to redefine the KPI for continuous improvement. Get to know these KPIs and how they flow down the funnel to a business objective so that you can track ROI.
Remember to take tracking seriously and continually test to find what works.
It’s important to analyze your results in order to determine you ROI and KPIs.
Example: Spend $100, 75 claims downloaded (10% discount for vets). 25 redeemed. Gross sales ($20 per) with offer less discount $450. Profit margin 50%. ROI 250/100= 250% or $250 increased revenue. Plus brand awareness and opportunity for repeat customers.
Example: Spend $100, 25 promotions redeemed (free drink with $40 purchase). Gross sales ($38per) with offer less discount $950. Profit margin 50%. ROI 475/100= 475% or $475 increased revenue. Plus the increased likelihood of repeat business and a high lifetime customer value.
2 main types of ads
With lots of variations
Targeting is strong as you can match your ad with individuals having specific conversations based on keywords. Geo targeting should continue to get stronger.
"I regularly analyze my social activities." A significant 68% of marketers surveyed analyze their social media activities. How many of them do you think are lying? 64% of marketers are using social media for 6 hours or more and 37% for
11 or more hours weekly. How much are you?
Paid social advertising can work if you set smart goals and analyze your metrics in order to be constantly improving your results. Work backwards from business goals to social goals to social tactics to drive and measure the ROI of your actions.
If your goals include driving people to your website in order to gain sales leads, subscriptions, downloads, etc you need to familize yourself with GA and the best ways to track your data in order to prove your ROI. A big part of what I do on a daily basis is driving people to our website and without a proper understand of tracking I could lose all credit for what I am doing and not be able to provide an ROI.
A lot can be learned with $100 and an open mind. Start testing and get familiar with these platforms. They all guide guides to read up on.
You should already have an idea of where your customers are. Start learning about how you can test, review the analytics and understand how you can drive a positive ROI for your business.
Make a commitment to finding a return on your investment. The biggest failure I see with small business or organizations that they don’t feel commit to finding out if it will work. Don’t just spend because I told you too. You know your business the best. I simply want to encourage you to think about how using paid social media promotions can help you improve your business.