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Tracy Hermans
Digital Marketing Manager l Wet Seal
SOCIAL MEDIA STRATEGY & MEASUREMENTSOCIAL MEDIA STRATEGY & MEASUREMENT
Presenting
Today:
KPIs + Strategy in Social Media
Overview
Develop: Strategy
Create: Content
Analyze: KPIs
Summary
Tools & Resources
The Evolution of Social Media Marketing
Brand Marketing: Reach, Impressions
Best Social Media Metrics: Conversation, Amplification, Applause, Economic Value,
Avinash Kaushik
Brand Marketing
Engagement Metrics
Conversation Rate# of comments/posts
Amplification Rate# of shares/posts
Applause Rate# of likes/posts
Economic Valuemacro + micro goals
Brand Marketing
Engagement Metrics
Conversation Rate# of comments/posts
Amplification Rate# of shares/posts
Applause Rate# of likes/posts
Economic Valuemacro + micro goals
Monetization: Facebook Ad Display
Conversion: ROAS, Frequency
Targeting: Audiences
User Generated Content
Social Network AOV and RPV
47% of ecommerce revenue comes as the result of a multiday purchase. 65% of total revenue comes from purchase processes consisting of more than one step.
- Think with Google
Customers are spending more time on social networks
when comparing year-over-year trends. Visual web
image rich networks are advertising platforms:
AOV
- Instagram AOV (+150.3%) YOY
RPV
- Facebook RPV (+77.9%) YOY
“
”
Source(s): Think with Google Insights, 2014;
Monetate Ecommerce Quarterly Q1 2014
Engage in a social conversation. Build a UGC community. Cross-
channel data into marketing initiatives.
Isolate key performance indicators across channels. Monitor reach,
engagement, conversion, sales. Determine scale.
DATA DRIVEN APPROACH
IDENTIFY THE STRATEGY
MEASURE PERFORMANCE
ANALYZE & ACT
Harness social customer data to improve marketing. Leverage attribution
modeling and segment. Apply insights to other channels.
Be Strategic and Authentic
Social media is a conversation
Be strategic with promotions
If you jump [on social media
sites] to sell you will lose a lot
of credibility and basically you
are going to turn off your
followers. Spend some time
and money to make sure your
branding is there first, being
strategic and authentic to what
you are doing. Once you
have that, the ROI will follow.
- Dace Morris
Head of Communications
and Commerce, Rogue
“
Source: “Social media marketing: chasing ROI” – Shearman, Sara WGSN, 10 January 2014
”
Case Study: Rebecca Minkoff
Social bridges between online and
offline conversionsWe see direct results. I know
when we post something
Rebecca's [Minkoff] wearing,
we can track those sales to
our online site. People
actually walk in [to our
stores] on their phones and
say 'I want this jacket’ or I
want this handbag.
- Uri Minkoff
CEO Rebecca Minkoff
“
”
Source: “Social media marketing: chasing ROI” – Shearman, Sara WGSN, 10 January 2014
Measure Performance: Lifestyle v Promotional
Modcloth 9.8k likes
Modcloth 1.6k likes
Messages directly engage; promotions are less liked
Measure What Matters: Know Your Audience
Urban Outfitters 21.6k likes
Wet Seal 13.2k likes
Content is personal; capture moments and provide value
Create Data: Build a Social Media Community
TV Radio Direct Mail Call
Centers
In-store
Purchases
Phone
Web/App
Tablet
Web/App
SocialEmailWebsite
Ways Social Customer Data is Collected, Social Media Customer Guide, Shoutlet, Inc. 2013 • v13.01
Case Study: ModCloth Social Community
These suggested tools are affordable, easy to use and integrate. Use to collect
aggregated data and measure growth and value.
Case Study: Go Pro HERO4 ChallengeCase Study: Go Pro HERO4 Challenge
These suggested tools are affordable, easy to use and integrate. Use to collect
aggregated data and measure growth and value.
Curalate Fanreel
These suggested tools are affordable, easy to use and integrate. Use to collect
aggregated data and measure growth and value.
Segment & Optimize Digital Channels
Dive in deep to mid-level and individual-level data within the community
Social data offers demographic, age, and behavioral data that can be harnessed
to refine email campaigns to segmented groups. Examine your best customers
and create loyalty rewards and incentives to improve engagement across digital
touch points.
Measure Attribution by Channel
Examine which channels drive the most impact within the customer journey
Assign credit by channel and device. Use benchmarks
to determine growth by industry. Customize attribution
in Google Analytics or another clickstream tool to
continue fine-tuning your CPA and share of revenue
improvements.
Source: Think with Google Insights, 2014
http://www.thinkwithgoogle.com/tools/customer-journey-to-online-purchase.html
Recommended Social Tools
Tracks Likes, Shares, Comments ✔✔✔✔ ✔✔✔✔ ✔✔✔✔
Tracks Followers ✔✔✔✔ ✔✔✔✔ ✔✔✔✔
Impression, Retweets, Mentions ✔✔✔✔
Content Analysis ✔✔✔✔ ✔✔✔✔ ✔✔✔✔
Predictive Modeling ✔✔✔✔
Hashtag, Keyword Analysis ✔✔✔✔ ✔✔✔✔ ✔✔✔✔
Competitive Analysis ✔✔✔✔ ✔✔✔✔
Campaign Traffic ✔✔✔✔ ✔✔✔✔
Ecommerce Goal Tracking ✔✔✔✔
Social Conversions, Event Tracking ✔✔✔✔
Contract Minimum Length Monthly Monthly 12 Months N/A
Cost Low Low Medium Free
These suggested tools are affordable, easy to use and integrate. Use to collect
aggregated data and measure growth and value.
Follow Us!
Tracy Hermans
Digital Marketing Manager, Wet Seal
@tracysurfs
t. 949.699.3995
[email protected] | www.wetseal.com
Wet Seal, Inc., a pioneer in fast fashion retailing, sells apparel,
footwear and accessories designed for teen girls and young
women of all sizes through retail stores nationwide, as well as an
e-commerce website www.wetseal.com.
