SearchLove Boston 2015 | Jeremy Goldman, 'Why Social Media and Return on Investment Do Go Hand in Hand’
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Social campaigns with low ROI are often associated with poor planning. There’s plenty of pre-work needed to ensure you’re successful in the long run. What are the metrics you ought to be focused on for long-term success? How do you determine what types of content work on which social platform? And, how does social media impact your SEO efforts? Jeremy will answer all those questions and more.
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SearchLove Boston 2015 | Jeremy Goldman, 'Why Social Media and Return on Investment Do Go Hand in Hand’
- 1. FIREBRANDGROUP @JEREMARKETER Why Social Media and ROI Do Go Hand in Hand 30 April 2015 1
- 2. FIREBRANDGROUP @JEREMARKETER People Knocking Social Media & ROI • “I just don’t see any sales from it.” • “I’d rather be spending my budget on things I can quantify.” • “Social media gives no return on investment. It’s like flushing money down the toilet.” 2
- 3. FIREBRANDGROUP @JEREMARKETER Nothing can guarantee you a strong ROI. That includes social media. 3
- 4. FIREBRANDGROUP @JEREMARKETER But, it can have a strong ROI • InContact increased revenue per sale by 122% • IBM saw a 400% increase in sales • AT&T was awarded $47 million in new business • Hesselson's saw 1,100% ROI increase 4
- 5. FIREBRANDGROUP @JEREMARKETER “So, why doesn’t it work for me?” • Poor planning • No KPIs • The wrong KPIs • “Hey, me too!” campaigns • Not doing the math 5
- 6. FIREBRANDGROUP @JEREMARKETER You can estimate the ROI on anything if you’re willing to put in the time. 6
- 7. FIREBRANDGROUP @JEREMARKETER What We’ll Cover • The Firebrand Group Process • Metrics • Tying Engagement to Success • Content & Platforms 7
- 9. FIREBRANDGROUP @JEREMARKETER Want success? KPIs need to be aligned and You need a process. 9
- 12. FIREBRANDGROUP @JEREMARKETER Identify Mission Clarify Objectiv es Determin e Demogra phics Actualize Personas Engage in Broad Competit ive Analysis Create an Everlasti ng Brand The process: MOD ACE 12
- 13. FIREBRANDGROUP @JEREMARKETER Identify Mission What & Why Concrete and ”Action-oriented" • Concise • Outcome-oriented • Inclusive 13
- 14. FIREBRANDGROUP @JEREMARKETER Clarify Objectives Mission Statements are great but can at times be somewhat lofty. We take a mission and break it down into its core components. What will help us support our mission? 14
- 15. FIREBRANDGROUP @JEREMARKETER Determine Demographic Profiles Geographic Region Size of metropolitan area Population density Climate Demographic Age Gender Family size Generation Occupation Education Ethnicity Nationality Religion Social class Psychographic Activities Interests Opinions Attitudes Values Behavioristic Benefits sought Usage rate Brand loyalty Readiness to buy Occasions: types of holidays and events that stimulate purchases How do we define the customer? With so many potential attributes to ascribe to our audience, we delve into geographic, demographic, psychographic, and behavioristic attributes in order to develop a sense we are looking to acquire – and keep. 15
- 17. FIREBRANDGROUP @JEREMARKETER Engage in Broad Competitive Analysis At Firebrand, we don’t just focus on the most obvious competition – companies you’re directly competing against from a sales perspective. We’re also interested in those competing with you for attention. What inspires your customers? Where do they spend their time, online and off? These are the types of brands we consider more broadly when developing a competitive set to benchmark against. 17
- 18. FIREBRANDGROUP @JEREMARKETER Create an Everlasting Brand • Craft a brand with a story and purpose that resonate with your audience • Offer something more than just product and value • Make customers part of a unique story 18
- 19. FIREBRANDGROUP @JEREMARKETER Part 2 METRICS & REVIEW19
- 20. FIREBRANDGROUP @JEREMARKETER KPIs • Measurable values that demonstrate how effectively a company is achieving key business objectives • Only as valuable as the action they inspire • Don’t blindly adopt them • KPIs are a form of communication 20 CLARIFY THIS.
- 21. FIREBRANDGROUP @JEREMARKETER KPIs vs. Metrics • A metric is something that is quantifiable • A metric can be important – but isn’t necessarily important • If you’re focusing on 17 metrics, you’re focusing on zero metrics 21
- 22. FIREBRANDGROUP @JEREMARKETER There is no right metric that every organization should measure… …and there’s no metric that is universally wrong to take a hard look at. 22
- 23. FIREBRANDGROUP @JEREMARKETER 23 • Awareness • Affinity • Influence • Purchase Intent • Working towards scorecard vs. internal, category, industry benchmarks KPIS REVIEW PROCESS • Social: Review monthly where agency comes in and presents • Media: mid-month checks & optimization calls; full wrap up with deep dives on performance post every campaign • Search: depending on the brand, have monthly calls
- 24. FIREBRANDGROUP @JEREMARKETER 24 • Conversion • Conversion: Margin • Conversion: Traffic • Robust spreadsheet that considers the TY and LY periods for traffic, conversion, sales, margin, AOV, UPT, etc., reviewed daily • Not just looking at current or trailing performance, but upcoming periods to be compared vs. LY • Evaluating correlative models between various KPIs KPIS REVIEW PROCESS
- 25. FIREBRANDGROUP @JEREMARKETER 25 • Traffic • Visits • Pageviews • Use Chartbeat and Google Analytics in real time and use headline A/B testing for all on-site stories & social content • Daily: Basic review • Weekly: Social review meeting to examine top and lowest performers for stories on each channel & discuss optimizing packaging (imagery and copy) with marketing & data scientists KPIS REVIEW PROCESS
- 26. FIREBRANDGROUP @JEREMARKETER 26 • Clicks – Long – Short • Time Spent • Daily • Use a custom built dashboard to track these KPIs by user type & country globally across audience of 1B+ people. KPIS REVIEW PROCESS
- 27. FIREBRANDGROUP @JEREMARKETER 27 • Total Visitors • US Visitors • # of Orders • Conversion Rate • AOV • Daily • No formal process, but have daily tracker with transacted sales, visitor, order, etc information into and the conversion rate & AOV updates automatically • Dig into analytics accordingly depending on where they see dips or spikes vs plan KPIS REVIEW PROCESS
- 28. FIREBRANDGROUP @JEREMARKETER Part 3 TYING KPIs TO SUCCESS28
- 29. FIREBRANDGROUP @JEREMARKETER 29 Good KPIs connect the short term to the long term.
- 32. FIREBRANDGROUP @JEREMARKETER #LoveDrop Walkthrough Campaign • Find singles on Valentine’s Day via SM • “Surprise and delight” with swag • Introduce target demographics to NYC Social brand 32
- 33. FIREBRANDGROUP @JEREMARKETER KPIs 1. Posts from NYC region 2. Spring Registrations 3. Reach 4. Posts 5. Impressions 33
- 36. FIREBRANDGROUP @JEREMARKETER Results of #LoveDrop Campaign • 3M Impressions • 536K Reach • 2K Posts • 90%+ of posts from NYC region • 150%+ Registration Goals • Sports Marketing Award • 15 Articles 36
- 37. FIREBRANDGROUP @JEREMARKETER Part 4 STRATEGIES & PLATFORMS 37
- 41. FIREBRANDGROUP @JEREMARKETER There is NO magic formula for social media success. 41
- 42. FIREBRANDGROUP @JEREMARKETER What Works on Facebook • Advertising • Post at unexpected times • Advertising • Paying attention to algorithm changes • Unexpected content 42
- 43. FIREBRANDGROUP @JEREMARKETER To have a higher ROI, you’ve got to break through the clutter. 43
- 44. FIREBRANDGROUP @JEREMARKETER What Works on Twitter • Posting at the right time • Being succinct • Responsiveness & going the extra mile • Integrating Vine & video • Twitter cards 44
- 45. FIREBRANDGROUP @JEREMARKETER What Works on Instagram • Great, platform-specific visuals • Great captions • PRing your account • Influencers 45
- 46. FIREBRANDGROUP @JEREMARKETER Key Takeaways • Develop a process to plan out your strategy • Select KPIs right for your organization • Analysis is the fundamental third pillar of SM success • Learn what works on a platform by platform basis • Focus 46
- 47. FIREBRANDGROUP @JEREMARKETER Thank You Questions? Comments? Stay in touch: @jeremarketer 47
- 49. FIREBRANDGROUP @JEREMARKETER Part 5 SOCIAL & SEO 49
- 50. FIREBRANDGROUP @JEREMARKETER Make it memorableThe search engine has changed everything. Instead of worrying about your spot in the phone book, you need a name that’s relevant and truly compelling. The keys to any name—simple or complex, abstract or descriptive—are grabbing attention and staying memorable. 50
- 51. FIREBRANDGROUP @JEREMARKETER Make it memorable arbitrary descriptive suggestive KODAK BANK OF AMERICA VISA 51
- 53. FIREBRANDGROUP Brand // Michael’s Specialty retailer of arts, crafts, framing, floral, and seasonal merchandise for the hobbyist and DIY home decorator
- 54. FIREBRANDGROUP @JEREMARKETER overview • $4.4B annual revenue (December 2013) • #91 America's Largest Private Companies (2013) • As of May 2013, Michaels held more than 1,105 stores in the United States and Canada • #955 most popular website in US 54
- 57. FIREBRANDGROUP @JEREMARKETER #8videos8days Weird All’s 14th studio album, Mandatory Fun, released in July 2014. To promote it, Weird Al launched his #8videos8days project, releasing one music video per day for eight days straight, each on a different content partner’s website. Eight. Days. Straight. 3700+ articles were written about him in one week, which generated over 3 million social media shares. Mandatory Fun debuted at #1 the Billboard Top 200, a first in Weird Al’s career. Shares! Those weren’t merely visitors, but visitors who chose to actively share the articles and generate traffic to his videos that were exclusively housed on his partner websites. Through partnerships with The Nerdist, Yahoo! Screen, College Humor, PopCrush, The Wall Street Journal, Vevo and Funny Or Die, Al was able to get his videos made (for free) in exchange for providing each publisher with exclusive content. The end result was mutually beneficial for both parties — the publishers gained traffic and ad revenue, and Weird Al received exposure and album sales. 57
- 58. FIREBRANDGROUP @JEREMARKETER #8videos8days A couple of his videos also featured guest appearances from the likes of Jack Black, Margaret Cho, Patton Oswalt and others. These high-profile celebrities shared Weird Al’s content with their own audiences, thereby providing additional exposure. Pre-Campaign Buzz. On June 16, 2014, Weird Al released this teaser, “Transmission,” on his YouTube channel. During the month leading up to the album’s release on July 15, he would release 4 of these transmission videos. Monday, July 14. Al kick-started his #8videos8days campaign with “Tacky,” a parody of Pharrell’s “Happy,” which premiered exclusively on The Nerdist. The article quickly garnered nearly half a million social media shares. Tuesday, July 15. Mandatory Fun became available for purchase, and Al released the video for “Word Crimes,” a parody of Robin Thicke’s “Blurred Lines” which ridicules the poor grammar and spelling pervasive in our society today. He also participated in a Reddit AMA (“Ask Me Anything”). 58
- 59. FIREBRANDGROUP @JEREMARKETER #8videos8days Wednesday, July 16. This day marked the debut of “Foil,” a play on “Royals,” released exclusively on College Humor, this video co-starred the hilarious comedian, Patton Oswalt. Thursday, July 17. On Thursday, Weird Al gave us “Handy,” a la Iggy Azalea’s “Fancy,” in conjunction with Yahoo! Screen. Friday, July 18. On Friday, he delivered “Sports Song,” an original song launched on Funny Or Die. It’s not available for embedding on external sites at the moment, but you can watch it here. Saturday, July 19. Al dropped “First World Problems” on Saturday, a hilarious song about the whiny nature of people who don’t appreciate quite how fortunate they are. Al partnered with Pop Crush for this video. Sunday, July 20. This day gave us “Lame Claim to Fame,” an original composition in the style of roots rock band Southern Culture on the Skids. 59
- 62. FIREBRANDGROUP @JEREMARKETER Maersk on Facebook 62
- 63. FIREBRANDGROUP @JEREMARKETER Maersk Engagement Levels 63