Brian Massey, a conversion optimization scientist and widely published author, recently presented on how to measure and improve social media conversion rates. Massey, the owner of conversionscientist.com, emphasized that regardless of the size of a brand’s “social footprint,” it is important to measure conversions. It is this data that will ensure the site is properly converting the visitors from social sites into positive ROI.
At one point during the presentation, Massey said:
“Social media is great for customer support, but I don’t care. Social media lets us tune into the conversations about our brand, but I don’t care. People say social media is free, but it is not. Social media can drive sales that a brand otherwise would not have seen – Now you have my attention, prove it.”
The Not Social (Traditional) Sales Funnel:
Awareness – Consideration – Action
The Social Media Sales Funnel:
Awareness – Consideration – Action – Use – Opinion – Talk
The primary difference between a traditional sales funnel and a social media sales funnel is amplification. However, in the end, the brand should look for the additional amplification (Talk) to produce additional actions that result in positive ROI.
Steps to Measure Social Results:
1 – What was shared on which network and when
2 – How many people potentially saw it (impressions or reach)
3 – How many readers clicked thru to the social landing page
4 – How many readers converted (bought, subscribed, or completed the form)
During the presentation, Massey carefully explained the difference between predictive metrics and definitive metrics. Predictive metrics attempt to predict what may happen (i.e. how many conversions an additional 1,000 sit visitors will result in) and definitive metrics are based on the factual data (i.e. how many people actually bought the product). To measure ROI, it is strongly suggested that the definitive metrics are used.
The following tools were recommended for social landing page optimization:
Blog Search: Google Blog Search & Technorati
Listening and tracking services: trackur, buzzstream, Sprout Social, radian6, & Social Mention
URL shortners with tracking metrics: bit.ly and budurl.com
Link tagging: Google Analytics
Creating Social Landing Pages: WordPress, Facebook Pages, LinkedIn Groups
As Massey said during the presentation, it is time to “leave the world of marketing and superstition and enter the world of conversion data.” The full conversion optimization study and presentation can be accessed on his site.