Why You Should Have Paid Attention in Math
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Transcript of Why You Should Have Paid Attention in Math
Why You Should Have Paid Attention in MathUnderstanding Online Marketing Numbers and Data Tracking
SFU Summer 2011 Book Immersion July 22, 2011 Twitter @boxcarmarketing
Not everything that counts can be measured.
Albert Einstein
Not everything that can be measured counts.
Monique Trottier@BoxcarMarketing
There are 2 things we like to measure:
Things that lead to sales
Sales
Monique Trottier@BoxcarMarketing
Sales
Monique Trottier@BoxcarMarketing
What is a Conversion Rate
• Number of visitors who perform a desired action / Number of visitors to a page
• Desired action: buy a product, complete a form, etc.
• If there are 100 visitors to a particular web page and 5 people buy a book, then the conversation rate is 5%
• (5/100) * 100 = 5%
• Abandonment Rate is calculated in the same way, but it’s the number of people who do not complete a task divided by the total number of visitors
Sales
Setting Up Goals
• Admin Access
• URL Destination
Monique Trottier@BoxcarMarketing
Things that lead to sales
SalesMonique Trottier
@BoxcarMarketing
Website Visitors
Twitter Followers
Facebook Fans RTs
Press Mentions
Email Opens
Customer Feedback
Did we make money means what is the ROI?
• Return on Investment
• Did I make more money than I spent?
• Actually a tricky question: (Gross Profit - Marketing Investment) Marketing Investment
• Gross Profit = Gross Revenue - Cost of Goods Sold <OR>Gross Profit = Gross Revenue * Profit Margin (% of revenue that is actually profit)
• Invest $3,000 on marketing campaign and generate $30,000 gross revenue (1,000 copies sold at $30), if profit margin is 10%, then Gross Profit is $30,000 * 10% = $3,000
($3,000 - $3,000) / $3,000 = 0%
Things that lead to sales
Sales
Acquisition Website Visitors, time on site
ActivationNumber of pageviews, repeat visits, subscription (email, blog), account sign-up (profile data), Fan/Follower
Retention Email Opens, Click-throughs, Repeat visits
ReferralPress Mention, RT,
Refers 1+visitors to the site; Refers 1+ visitors who activate
Monique Trottier@BoxcarMarketing
What is Click Through Rate?
• CTR = Number of clicks on an ad / number of times the ad is shown
• Applies to ads, buttons, banners, etc.
• If banner ad is delivered 100 times (100 impressions) and receives 1 click, then the CTR = 1%
If you don’t know where you’re going, any road will get you there.
Misquote from Alice in Wonderland
Monique Trottier@BoxcarMarketing
A simple Contest
• Reach a new audience or reinforce our connection to an existing audience
Goal Lifecycle Action Reaction Metrics
Reach a new audience
AcquireActivateRetain
ListenIntroduce
ResponseVisit to the site
SubscribeReturn
@ / RT / CommentVisitors
Subscriptions (email/RSS)Fan/Follower
Account sign-upReturn Visits
Reinforce our connection to
existing audience
RetainReferralRevenue
Talk Pitch
Thank
ResponseVisit the site
ActRefer
@ / RT / CommentRepeat visitsEmail opens
CTR / Goal FunnelMentionsReferrals
Referrals who convert
Google Analytics: Annotations
Monique Trottier@BoxcarMarketing
Google Analytics: Title- or Author-Specific Searches
Google Analytics: Audience Segments
A simple campaign to increase Online Sales
• Use Twitter or Facebook to inform prospects about special promotions. • Exclusive, limited-customer/limited time offers.
Goal Metrics
Increase monthly sales monthly sales attributable directly to SMM
Increase % value from new customersSegment & Funnel: new customers
attributable directly to campaign
Increase conversions from Twitter traffic
Segment & Funnel: monthly revenue generated from customers from Twitter
Retain X% of new customers Repeat customers from that groupUnsubscribe rates
Cost per Lead > Cost per Conversion
• Cost per Lead = How much do I need to pay in order to get a visitor to my site who will take one of those micro actions that lead to a sale
• Cost per Conversion = What does it cost me to acquire a customer?Total cost of a campaign / Number of Conversions
Social Media Measurements
Monique Trottier@BoxcarMarketing
Platform Ratio of Posts to X Peak ConversionContent
Resonance
Email OpensDay
Time of Day
OpensCTR
Unsubscribes
Twitter RTsDay
Time of Day
RTs@
Recos
Facebook InteractionsDay
Time of Day
LikeShare
Comment
Things that lead to sales
Sales
Acquisition Website Visitors, time on site
ActivationNumber of pageviews, repeat visits, subscription (email, blog), account sign-up (profile data), Fan/Follower
Retention Email Opens, Click-throughs, Repeat visits
ReferralPress Mention, RT,
Refers 1+visitors to the site; Refers 1+ visitors who activate
Monique Trottier@BoxcarMarketing
$$$Investment
$$$FinancialImpact
Monique Trottier@BoxcarMarketing
MarketingActions
CustomerReactions
Non-financialImpact
Ask me about this stuff.
• Download this presentation
Monique Trottier@boxcarmarketing