Attributing Returns to Social Media
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Attributing Returns to Social Media
- 1. Attributing Returns to Social Media www.42inception.com
- 2. Attributing Returns to Investment Attribution Establishing unbroken chain of eventsfrom the “investment” to the “return” www.42inception.com
- 3. Unbroken Chain of Events: e-commerce Attribution 1. You Post a Link of 2. Total 3500 people 3a. Total 17 of these your Product Page on visit product page buy the product in Facebook through that link first visit 3b. Total 250 people 4. In 15 days period, register for Free Trial 34 people upgrade to version paid from trial Investment: Posting a link on Facebook Result: 51 product units sold www.42inception.com
- 4. Unbroken Chain of Events - Services Attribution 1. You see 38 tweets 2. You respond to all 3. Total 7 people by people looking for of them introducing interact with you for web design your services further details 4. You close business worth $7.5K with 3 of them. Investment: Listening on Twitter & Responding to prospects Result: $7.5K worth of Business www.42inception.com
- 5. Unbroken Chain of Events: CRM Attribution 1. You see a –ve 2. You interact with 3. Customer now tweet by a customer the customer & appreciates your about your product resolve the issue service on twitter 4. You get 6 more customers worth $9K through this referral Investment: Customer service on Twitter Result: $9K worth of Business www.42inception.com
- 6. Attribution is a Hard Problem Attribution More often than not, it’s hard to Broken Chains establish a credible sequence of events. Not all the metrics are available or Missing Metrics captured automatically. Multiple marketing efforts with a single Mixed Influence outcome coincide with each other. www.42inception.com
- 7. What are Broken Chains of Events? Attribution – Broken Chains You Promote your product on LinkedIn You use a Blog for thought leadership You get $20K worth of Business with “unknown You interact with source” people on FB/Twitter You resolve people’s issues on FB/Twitter www.42inception.com
- 8. Fixing Broken Chains Attribution – Broken Chains • Ask your customers where they came from “if you can” • Could be part of registration process or included at some other step • Not reliable but might provide indicators www.42inception.com
- 9. Attribution is a Hard Problem Attribution More often than not, it’s hard to Broken Chains establish a credible sequence of events. Not all the metrics are available or Missing Metrics captured automatically. Multiple marketing efforts with a single Mixed Influence outcome coincide with each other. www.42inception.com
- 10. Missing Metrics Examples Attribution – Missing Metrics How many issues were resolved on Twitter? How many $ were saved/earned by resolution of issues? Did you note down that FB was used for Market Research? And that lead came from an introduction over LinkedIn! www.42inception.com
- 11. Resolving Issues around Metrics Attribution – Missing Metrics Issue: All the metrics are not captured in a tool. E.g. if you resolved a customer issue on Twitter, which tool recorded this? Resolution: Needs deploying a tool or a simple manual capturing of the data in a document. The choice depends on the scale. www.42inception.com
- 12. Resolving Issues around Metrics Attribution – Missing Metrics Issue: All the metrics are not fully measurable. E.g. value of resolving a customer issue on Twitter. Is it $20 or $2K or $2M? Resolution: Needs a simple model to find approximate value. E.g. resolving a customer issue could be worth the business given by that customer. www.42inception.com
- 13. Attribution is a Hard Problem Attribution More often than not, it’s hard to Broken Chains establish a credible sequence of events. Not all the metrics are available or Missing Metrics captured automatically. Multiple marketing efforts with a single Mixed Influence outcome coincide with each other. www.42inception.com
- 14. Leverage Digital Marketing for Incredible Growth? Our Training is a click away! www.42inception.com www.42inception.com