In a 2014 study of CEOs and CMOs, IBM found 63% wanted social strategies which generate business metrics while only 20% of businesses worldwide actually have them. This means strategies which not only grow your company’s social footprint but link to your sales and marketing systems. With this critical linkage, your social and mobile strategies will provide you with the ability to engage consumers at a 1-to-1 level and measure your social investments in terms of costs, revenues, profits and ROI. In this fifth MOOC of the Social Marketing Specialization - "The Business of Social" - you will learn how to transform your organization's social marketing from an untracked investment to an integral part of your company’s marketing strategy. You will learn the legal considerations involved as well as proven performance metrics and management tactics for success. Additional MOOC 5 faculty include: * Rich Gordon (Professor & Director of Digital Innovation, Medill, Northwestern) * Tom Collinger (Executive Director Spiegel Research Center and Senior Director Distance Learning, Medill Integrated Marketing Communications, Northwestern) * Seth Redmore (CMO, Lexalytics, Inc.) * Jeff Davidoff (CMO, Donuts.Domains) * Matt Krull (Business Unit Executive, IBM Security) * Frank Mulhern (Associate Dean, Department Chair, and Professor, Integrated Marketing Communications, Northwestern)
Identifying Social Successes
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来自 Northwestern University 的课程
The Business of Social
479 个评分
从本节课中
Metrics
In this module, you will gain a deeper understand of how metrics can be used to drive real business results.
与讲师见面
Randy HlavacLecturer, Medill IMC; CEO, Marketing Synergy Inc
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That kind of brings us around, though, to something that's really important and
that is metrics.
How do you measure things in social and
how do you identify where the successes are?
>> Sure. I love talking about metrics and
I frankly don't think you can have a long-term career in marketing,
unless you embrace it.
Where I think marketers sometimes go down a dark alley is,
by assuming that ROI is the right metric for everything.
We don't believe that.
It's all about matching the correct metric to the correct program.
So for instance that, the first program we talked about is our Facebook platform and
using that to broadcast messages.
There, the primary metric we have is, what's the cost for a click?
How much does it cost to get someone to click on and engage in our content?
That gives you a sense of efficiency.
We'll also take a look at engagement, but
the primary metric for basic Facebook advertising is Cost per click.
>> Okay. >> Now,
if you take a look at the thought leadership things we're doing on LinkedIn,
it's not a cost per click, it really is raw number of views and number of shares.
Because if you think about it, if it's thought leadership,
that's only valuable if a meaningful size of your audience is seeing.
So, scale of views is what matters to us, not LinkedIn.
>> So if you go out to like an influencer,
you wanna make sure they're going out to a big audience, so
it gives you that exposure to the very people you want to get to.
>> Exactly, and we'll say that, shares on Facebook Shares on LinkedIn
seem to have an even bigger effect than shares on Facebook.
>> Interesting.
>> Not sure why yet, but we'll keep an eye on that.
The third part of our programming is direct response selling on Facebook.
That's the easiest and most well known metric, which is cost per acquisition.
As a company, we have defined a lifetime value of a customer.
Our goal is to get our cost per acquisition,
below that lifetime Time value.
So it's a very simple thing to try.
Now, there are several steps in that purchase process..
>> Um-hm.
We do track, every step along the way.
Those are kinda predictive measures to ask.
And that's the way to see hey,
is your process working smoothly every step along the way?
But the most important metric is the cost per acquisition.
>> That's great.
And so, what we do in our class.
As we develop the performance funnel, which gives us the efficiency and
effectiveness KPI's.
And so you're watching those going down and
making sure it's going towards your ROI's, is that right?
>> Absolutely. And
one of the beautiful things about digital marketing is you can
constantly be testing and be constantly be optimizing, every step along the way.
But just keep in mind that, those steps are only meaningful to
the degree they contribute to that lower cost product position at the end.
>> Right, you don't want to spend more than what they're actually valued at.
>> Exactly. >> Is that what you're saying?
And then, the last thing that we're doing, which is this content syndication.
For us, what we measure is cost per complete view, or
cost per completely read article.
A lot of people just look at total number of views.
We don't think that's a meaningful metric.
To me, if you have not watched the entire video, I count that as zero.
>> Okay. >> If you have watched the whole thing,
I count that as one.
So, we optimize on the video side, to a cost per complete view.
That's very easy to do,
because all of the video platforms track how long people watch.
It's not so easy on the article side.
So, in trying to come up with a metric for cost per completely read article,
we introduced the idea of 30 seconds.
If you click on an article and
you stay on it for at least 30 seconds, we count that as a complete read.
Because there isn't a platform now that says,
oh someone read five percent of the article, or fifty, or a hundred percent.
So we built a proxy in there.
And that let's us compare an apple to an apple, when we say what's cost of
a completely viewed video, relative to the cost of a complete article.
>> I really like the way you tailor the metrics,
to the different strategies you're using.
As well, as really looking for the most important metric,
which is how are they really looking and consuming all of our content.
And eventually, going all the way through to buy.
I really love the way you do that.
>> Exactly, thanks.
And we've talked about the science part of it, which is having each piece make sense,
having the right metric in place for each piece.
The art part of it is, how do they work together?
And there is something magical and
mystical about getting the right combination of your marketing mix.
I have not found a way to measure that, other than you can tell when it's working,
you can tell when it's not.
Right. >> And it's the whole
idea of testing all the time,
to figure out the best way to get that mix just right, to maximize performance.
>> Absolutely.
>> Thank you so much for all these tips on how to
>> Managed a social program.
I really appreciate it, Jack.
>> Thanks [INAUDIBLE]. It's really been a pleasure.
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