How to Attributing Returns to Social Media

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Attributing Returns to Social Media:

Attributing Returns to Social Media

Attributing Returns to Investment:

Attributing Returns to Investment Attribution Establishing unbroken chain of events from the “investment” to the “return”

Unbroken Chain of Events: e-commerce:

Unbroken Chain of Events: e-commerce Attribution 1. You Post a Link of your Product Page on Facebook 2 . Total 3500 people visit product page through that link 3a. Total 17 of these buy the product in first visit 3b. Total 250 people register for Free Trial version 4 . In 15 days period, 34 people upgrade to paid from trial Investment: Posting a link on Facebook Result: 51 product units sold

Unbroken Chain of Events - Services:

Unbroken Chain of Events - Services Attribution 1. You see 38 tweets by people looking for web design 2 . You respond to all of them introducing your services 3. Total 7 people interact with you for 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

Unbroken Chain of Events: CRM:

Unbroken Chain of Events: CRM Attribution 1. You see a – ve tweet by a customer about your product 2 . You interact with the customer & resolve the issue 3. Customer now appreciates your service on twitter 4. You get 6 more customers worth $9K through this referral Investment: Customer service on Twitter Result: $9K worth of Business

Attribution is a Hard Problem:

Attribution is a Hard Problem Broken Chains Missing Metrics Mixed Influence More often than not, it’s hard to e stablish a credible sequence of events. Not all the metrics are available or captured automatically. Multiple marketing efforts with a single outcome coincide with each other. Attribution

What are Broken Chains of Events?:

What are Broken Chains of Events? You Promote your product on LinkedIn Attribution – Broken Chains You use a Blog for thought leadership You interact with people on FB/Twitter You resolve people’s issues on FB/Twitter You get $20K worth of Business with “unknown source”

Fixing Broken Chains:

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

Attribution is a Hard Problem:

Attribution is a Hard Problem Broken Chains Missing Metrics Mixed Influence More often than not, it’s hard to e stablish a credible sequence of events. Not all the metrics are available or captured automatically. Multiple marketing efforts with a single outcome coincide with each other. Attribution

Missing Metrics Examples:

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!

Resolving Issues around Metrics:

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.

Resolving Issues around Metrics:

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? Needs a simple model to find approximate value. E.g. resolving a customer issue could be worth the business given by that customer. Resolution:

Attribution is a Hard Problem:

Attribution is a Hard Problem Broken Chains Missing Metrics Mixed Influence More often than not, it’s hard to e stablish a credible sequence of events. Not all the metrics are available or captured automatically. Multiple marketing efforts with a single outcome coincide with each other. Attribution

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