[MUSIC]
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.