More articles by Al Lalani
Social Commerce Strategy and Metrics = Defensible Dollars and Money Well Spent
Although many brands have started Facebook campaigns to increase traffic and brand awareness, what many might not realize is that brands can use tech and strategy to turn even the most abstract social terms into defensible dollars.
(SUBSCRIBE TO THE ADOTAS NEWSLETTER AT THE BOTTOM OF THIS PAGE!)
Changes on the social networks themselves and the evolution of social software that lives on ecommerce sites has made the idea of social investment with a quantifiable return a reality, and many companies are beginning to defy the stigma of social only being a vehicle for narrow and non-directive exposure. Where the failure of F-commerce served to affirm the idea that connecting social to sales is not practical, the advent of highly functional onsite social software and forecasting models are dismissing it.
The software landscape is diverse and what strategy will work best depends wholly on the company and its customers; but a strong offsite social network presence built on Fans, Followers, Likes and Pins will help supplement and synergize any onsite social initiatives. Here are two strategies to help make social more consistent and metrics-oriented.
1. Correlating Likes to dollars. Facebook Likes and Fans can be monetized by tracking the click-through rate of inbound links associated with offsite campaigns. Recording the inbound traffic from Facebook, Twitter or other social networks can reveal if and how much each social user bought from the retailer as a result of offsite social campaigns. The relationship between the number of Likes or Fans, the number of inbound links and the amount of revenue resulting from those inbound links allows marketers to connect social networking metrics to sales. Consistently collecting data that links social metrics to inbound links to sales paves the way for accurate forecasting and more effective social strategy. CRM software, tracked links and other specialized software tools can help make this possible.
2. Assigning value to content and planning accordingly. Content and the methods of distribution determine the level of social metrics such as Likes, Fans, Repins, and Follows. Keeping a cache of content and a wide variety of distribution channels allows marketing teams to control the effect of social campaigns on sales and provide a predictable and steadily growing contribution to revenue. Using models and data to establish a dollars and cents marketing structure leaves plenty of room on P&L’s for social marketing, and when the purse strings tighten, social marketing will be in a position to confidently defend the social marketing spend.
- Pingback from Social Commerce Strategy and Metrics = Defensible Dollars and ... - ADOTAS | Post-Click Marketing | Scoop.it
Leave a Comment
Take the Display Advertising Survey for the Chance to Win a Jawbone Jambox!ADOTAS – Industry discussions about cookies, privacy and the impact on display advertising have been frequent — and, in some [...] more...
- Brands & the Next Internet Wave: What You Need To Know May 21st 2013 ADOTAS – For brand managers and marketers, the Internet has [...] more »
- Blogshare: Why Tumblr Will Make Yahoo Billions May 21st 2013 ADOTAS (via WordStream) — Here’s why I think Yahoo is [...] more »
- Watch it Live: Xbox Reveal, 5/21 at Noon EDT/10 a.m. PDT May 20th 2013 ADOTAS (via CNET) – Check out CNET’s live coverage of [...] more »
- Live Twitter Feed from Internet Week New York May 20th 2013 ADOTAS – This year’s Internet Week New York (#IWNY) will [...] more »
- Today’s Burning Question: Implications of Yahoo’s Tumblr Acquisition? May 20th 2013 ADOTAS – Today we’ve solicited comments from industry leaders in [...] more »
- AFAIK: Poptent, Clear Channel Outdoor, Infusionsoft, Silverpop May 20th 2013 ADOTAS — Here’s what jumped out of my Inbox and [...] more »
- Preview: What’s Happening at Internet Week New York 2013 May 20th 2013 ADOTAS — Digital advertising and technology collide this week as [...] more »
- Brands & the Next Internet Wave: What You Need To Know May 21st 2013
- Blogshare: Why Tumblr Will Make Yahoo Billions May 21st 2013
- Preview: What’s Happening at Internet Week New York 2013 May 20th 2013
- Video from the Westchester Digital Summit May 17th 2013
- Automating Core Processes Can Reduce ‘Little Big Problems’ That Ruin Customer Relationships May 17th 2013
- Print and Web Manager
- SEO Marketing PPC Specialist
- Marketing Summer Internship at Clean-Tech Educatio
- Service Line Manager - Digital Media
- SEO / SEM Specialist
- Ben Straley responds to Implications of Yahoo’s Tumblr Acquisition? - Rio SEO Blog: [...] Original article posted here [...]
- New Solution to OpenX OnRamp Shutdown | Adcolt: [...] http://www.adotas.com/2013/02/update-malware-attack-permanently-shuts-down-openx-onramp/ Share this:TwitterFacebookLike this:Like Loading... This entry was posted in Uncategorized
- Pinterest Roundup — May 2013 | Technology for Publishing LLC: [...] Early Pinterest Analytics Show Brand Potential [...]
- YouTube Turns Eight As Platform Surpasses More Than 100 Hours Of Video … | HOW CAN I GET MONEY: [...] in the look, feel and behavior of Google Objects. The integration is easy, and