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New York Social Media Meetup - 2/20/12 presentation by AppAddictive, email questions to [email protected] As Social Media evolves rapidly, marketers and businesses struggle with producing concrete results despite the hype. Devising insights from the massive amount of data that will ‘move the needle’ can be a challenge on its own. We will discuss a simple framework to measure success and help optimize your performance in Social Media Channels.
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Agenda:
1.Social Media Benefits
2.Measurement Tools
3.Social Media Metrics of Success
4.Tips to Increase Fans and Followers
Social Media Means Digital
Connection
Opt-in: Create two-way channel with friends and businesses, gather email
Share: Social incentive to pass along valuable information or products
Publicity: Social media users give each other access to their networks
Social Media is Data
Listen: Tap into digital footprint to sense and respond
Learn: Gather actionable insights to reach business objectives
Segment: Create an identity for your users
Analytics Can be Simple
Metrics of Success: Reflect your long term business Objectives
Online Analytics are the most cost effective - market feedback tools
1. All about Benchmarks
2. Discipline: systematically improve product or business model overtime
Cost Subscription – starts $30
Tracking Conversion funnel, Drop-offs, Source of Traffic, Saas insights, Demographics, retention
Platforms Saas, Social Media Products
Best Use SaaS subscription analysis, conversion funnels, ROI, Demographics of buyers
KISSMetrics
Cost Free
Tracking Visits, Unique Visitors, Frequency, Source of Traffic, Traffic Sources, engagement, Bounce Rates, Demo’s
Platforms Websites, Social Plugins, Social Page Source
Best Use ROI and Economic Value Analysis, Conversion Funnel, Traffic Analysis, Demographics, Product Launches (Social Media Platforms), Cohort Analysis, SEO
Site Cost Channels Metrics
Social Mention Free All Social Channels Frequency, Reach, Sentiment , unique topic mentions
Crowdbooster Freemium Facebook, Twitter Growth, reach, engagement
Twitalyzer &TWiTTURLY
Free Twitter Activity, Klout, Influence
Youtube Insights
Free Youtube, Channel and other’s video
Engagement, Traffic Source, drop off on Videos
Facebook Insights
Free Facebook Pages Demographics, engagement, Fans
Free Social Listening Tools
Facebook Insights
Simple Metrics of Success:
1. Conversation 2. Amplification3. Applause4. Economic Value ROI
Conversation• Understand your audience/costumer base – What do
they respond to?• What is your value proposition? Do you costumers
care?• Ecosystem of your Social Channels
Simple Metric: Conversation Rate = # of Audience Comments (or Replies) Per Post
Tools: Social Listening: Facebook Insights, Twitalyzer, Crowdbooster, Radian 6
How to Grow: Acquire Followers, Post valuable content
Amplification/Reach• Can I make my product/brand go viral?• Does it bring value to the market?• Are there additional markets, channels I can target?• Do my costumers recommend, or care about the
incentive?
Simple Metric: # of shares or retweets per post, video shares
Tools: Social Listening: Facebook Insights, Twitalyzer, Crowdbooster, Youtube analytics, Radian 6
How to Grow: Increase value proposition, Engaging Content, Incentive, Referral Programs, Additional market targets - Advertise
Applause• Do I have enough exposure, should I advertise?• Does my audience care about my brand/product?• Is my product positively received by my followers?
Simple Metric: # of Likes, clicks, +1’s per page, post
Tools: Social Listening: Facebook Insights, Twitalyzer, Crowdbooster, Youtube analytics
How to Grow: Acquire Fans, possibly advertise, Incetivize, value add of information or product
Economic Value ROI
• Are my effort Effective, can I quantify?• Am I bring value to the market, how is my retention?• Can I optimize my conversion funnel?• Can I save on cost?
Simple Metric: ROI:(Economic Value= Revenue+Cost Savings)/Cost of Investment
Tools: Google Analytics, KISSmetrics
How to Grow: Acquire Fans and Emails, Optimize online programs, Optimize Conversion Funnel, Increase value proposition, Incentive (Referral), Decrease cost of effort/time spent
Evaluate Micro and Macro Conversions
• Measure multi-channel impact
• It will force you to understand the multiple paths on your website
• Segment visitors and visits and behavior and outcomes
How Do Your Channels Drive Conversion?
• Segment Micro Conversions
• Assign ROI weights – not every conversion is equal
• Analyze how each Channel drives conversion, Optimize
Tips on Increasing Fans
Build Pages
Create Incentives
Find Fans in the Real WorldSMS to Fan (32665)
Promote Incentive on Facebook
Check out AppAddictive.com Page-Building Tools – Free!
In-Facebook Drag’n’Drop Widget and Template Tool Coming Soon – March 2012
Thanks! Email Questions to [email protected]
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