The next panel I attended was entitled “Social Media Metrics” featuring Ben Fisher (a serial entrepreneur) who currently works for imSMB.com (I am small business.), Jon Collins from eyeblaster, and Joe Teixeira of MoreVisibility.
Ben Fisher started the panel presentation by discussing ROI and social media metrics. Everyone seems to want to understand how a tweet or fan page post translates to in ROI. How else can you show success to your boss?
Jon Collins then discussed the Pepsi Refresh campaign and how marketers can tap into the phenomenon of social media. Jon mentioned that the Obama campagin was able to tap into a perfect storm of social media and desire for change, leading to 68% of millennials voting for Obama. So Pepsi also wanted to speak to the same age group, creating Pepsi awareness, reestablishing themselves as the “youthful challenger” brand, and tap into the social media phenomenon. First they wanted to listen to consumers and then tap into the right message, using social media to reach millennials. Tactically, they aligned all of the right social media channels, keeping the message the same across channels like YouTube, Facebook and Twitter. They repurposed videos into all of those channels as well. The campaign led to 6 million visits to the Pepsi Refresh fan page and over 600k+ fans. It also led to over 700 video submissions for the contest and during the campaign, it was the number one YouTube page.
Because creative wears out after about six impressions, now Pepsi has a new campaign with Refresh to fund change through a contest for funding.
Ben then discussed the BlendTec story. 80% of the blenders they sold were all commercial grade, 20% were sold to consumers. They wanted to expand their consumer market, but their blenders for consumers start at $800! How could BlendTec attract more consumers at that price for a blender?
They blended things for fun at BlendTec in the “distruction room” and took some video and put it up on YouTube. The cost? Only $50. They started getting 100 million views for the videos, giving them instant brand awareness in under 30 days. They estimate that the first video earned them $100,000 in revenue.
But ironically, they started getting sponsorships too. Nike, Ford and other companies came to BlendTec to ask them to blend their products and create videos as well!
Ben finished by discussing a tool called Swix, which allows you to tie in campaigns to Google Analytics and capture sales data, follower growth, etc. in one place.
Finally Joe discussed how you can track some of your social media. He suggested the “daisy chain” technique:
When you tag your links, you can view them in Google Analytics like any page information from your site.
Brett Tabke then filled in for a last minute cancellation, discussing how Pubcon used social media to drive Pubcon attendance. He said that they had spend $65k in PPC over four years, but had 0 tracked sales over that time! What they found was that they could not sell a conference based on PPC — it relies on word of mouth and recommendations. They also had used $75k towards email marketing and other tactics in 2008, with moderate success.
Then in 2009, they spend $0 on marketing and ads — focused only on Twitter and Retweets. The attendance was up 30% even in a down year! That also meant their overall income was up 40%, even in a recession! Brett has 26,000 followers and his combined followers have over 22M followers! That’s immense reach.
Brett mentioned “tweet poaching”, where people add an original tweeter to the end of the tweet using “(via @janetdmiler)” instead of the traditional “RT @janetdmiller”. What happens is that over time, the via version drops the via from the end as a tweet gets retweeted a lot, making it look like someone else authored the original tweet.
He emphasized that timing is key to get retweeted. Feel free to tweet it again if you need to! The highest tweet day is Wed. and highest RT day is Mon. and Wed. The highest RT time is 2:15-3:30 p.m. ET. Brett encouraged everyone to troll the friends of competition. But RT buttons everywhere. Retweet your friends and ask for retweets. He mentioned that Klout is like PageRank for Twitter.