How Many Dollars Did That Content Drive? A Multi-Level Analysis
Yes, your social and digital campaigns are generating engagement. They’re “good” at brand awareness. But how does that information translate to dollars and cents entering your business? Do you set goals based on revenue and business value, or metrics no one else in your business really cares about?
Beyond Engagement: Why Brands Must Use Outcomes to Prove, and Improve, Social Success
Up until now, connecting social and digital efforts directly to dollar signs has seemed impossible, but Social Attribution has arrived, and everything has changed. Remember, there are three levels of depth you can use for your social attribution analysis, depending on what your major questions are.
High-Level: The Total Campaign
On the highest level, you want to know how much revenue your entire social and/or digital campaign generated. What was that campaign worth to your business, from owned, earned, and Dark perspectives?
This enables you to:
- Benchmark based on revenue as opposed to non-business metrics like engagement and impressions moving forward
- Understand which content pieces were your pillar pieces and whether you leveraged them at the right times, on the right channels, using the right amount of ad money
- Tell your brand’s digital and social story in a way that fulfills the needs of the rest of your organization, marketing and otherwise
Deep Dive: Time and Domain Portions
For a deep dive, you want to know how many dollars were generated by specific chunks of your social and/or digital campaigns, whether those were specific time periods or social posts pointing towards specific product pages. For instance, did you see an increase in dollars when you released content around a specific event or conference? Did you see a lift in business value when you directed your social audience towards one web page vs. another web page? What was that portion of your campaign worth to your business, from owned, earned, and Dark perspectives?
Having access to this information enables you to:
- Compare time periods within the same campaign to identify which partnerships–whether with influencers or other brands–reaped the most reward (i.e., $$) for your brand
- Compare the value of conversions within the same campaign to determine whether you leveraged specific links effectively, and how much value you were able to drive through webpage conversions
- Understand isolated campaign segments, peaks, and valleys so you can optimize digital content for earned and Dark social sharing
Granular: The Individual Post
What is the value of that Tweet/Post?
— Simply Measured (@simplymeasured) November 7, 2016
You can finally answer this question.
For a granular look at your posts, you want to know how many dollars were generated by specific posts. This enables you to:
- Compare social channels to identify which serve up the most $$ for your brand. A great way to experiment with this is to publish the same post on different social networks and see where you get the most ROI. You might be surprised by the results.
- Optimize quickly, on-the-fly, towards dollars, to see better results–not next month, not next year, but tomorrow
- Distinctly identify what made a post hit a goal or not hit a goal based on link shared, broader company goals, and many other brand-specific, $$-centric goals
Want to try it for yourself? Click below for your own personalized demo of Simply Measured’s NEW Social Attribution product.
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I’m the Head of Marketing Communications here at Simply Measured, where I’m responsible for our content program, social media marketing, PR, and comarketing ventures. I love yoga, The X-Files, peaty scotch, hiking, and poetry. If I were a social media channel, I’d want to be Instagram, but I think I’m Twitter.