5 Facebook Growth Success Metrics

Recently I answered a question on Quora that I wanted to share as a post as well.

“What is the best way to measure ROI for increasing the number of fans for a Facebook Page?”

Since this question is focused primarily on success metrics tied to acquisition, I will forego discussions around engagement metrics and jump into 5 KPI’s that I reference as part of an acquisition plan. 

1 - % growth over a period of time | As I have mentioned before, on average the top 50 (US) Facebook pages growth rate is 5% per month. Using this as a baseline you can track & project your growth % and track the % increase as a core KPI.

E.g. AllFacebook.com has a good resource to track against the last 30 days of growth.

2 – Like acquisition rate | When executing a promotional program or simply tracking ROI against the % increase, I look at the total cost of the program to acquire the Like. Based on my research over multiple campaigns (including media) a good baseline average Like acquisition rate is ~$5.00 per like. We have experienced below $1 acquisition rate on highly successful campaigns but you should be tracking the Like acquisition rate in order to set realistic expectations with projected Likes vs. budget allocated.

E.g. Brand A recently increased Likes by 125,000 and spent 200K to execute the program/media, etc… the Like acquisition rate for this initiative would have been $1.60 per Like well below average thus a great value for the brand.

3 – Earned Media Value | Vitrue had an interesting study determining the value of a Like at 3.60 using the $3.60 as a potential baseline number it is a quick calculation to determine the current earned media value of a brand page.

E.g. Nerf With 420,093 Facebook fans has an earned media value of $1,512,334.80

4 – Facebook Like = 20 | In a recent discussion with Carolyn Everson of Facebook, she referenced that based on their data a Facebook “like” is equivalent to 20 unique visits to a brands web site.

5 – Facebook Media Reach | One additional KPI to review is media performance in terms of both Impressions & # of Likes generated with & without media support. Using the Facebook self-service platform, or a platform such as Adapt.ly are essential to support your growth initiatives.

There are many other metrics that you can track and platforms such as PageLever & Edgerank Checker to go further than Facebook insights but these are a few that I like to use when tracking success metrics on Facebook growth initiatives.

What are some additional metrics that you deploy to track against ROI for growth strategies?

SnapTags vs. QR Codes the ideal 2D Experience

By now most of you have seen or interacted with QR codes in one form or another. Whether it was online, direct mail, etc… QR Codes are becoming a common tool in marketing toolkits.

qr_tattoo

While it is possible to leverage a small portion of a QR code to incorporate brand elements it is not the most aesthetically appealing execution for a brand. Also, QR codes currently require an application or software to read. While Near Field Communication or NFC is evolving it is still not widespread.

Red Urban QR Code

One additional issue is that QR codes are hardcoded upon generation. In order to manage the response destination changes would need to be made on the response side of the campaign such as changing content at the point of delivery or redirects to the desired response destination or use a premium QR management service.

QRCodePolo

As I look to execute campaigns that require enhancing product packaging, point of purchase, etc… I want a solution that is going to drive the maximum engagement potential with a low barrier of activation.

Initially I was an advocate of QR codes. I Provided POV’s on how to leverage the codes to drive engagement with mobile apps, sizzle videos, social destinations, etc…

Now I am looking to SnapTags more and more to drive that level of engagement for brands that I work with. A SnapTag is an aesthetically pleasing execution that provides multiple engagement options with the brand at the center of the experience.

inception

What I like about SnapTags is that the user has multiple options to activate and engage. They can simply text an image or e-mail an image of the SnapTag to drive the text or multimedia response.

inception-snaptag-640

The beauty of the SnapTag is that you are not locked into a single response destination. SnapTags support the ability to change the response as they are served via a database vs. hardcoded into the tag. This means that you can change the destination of the response without messy redirects off of the original response.

This is an ideal benefit if you want to drive different levels of engagement throughout the lifecycle of the tag.

Also, by driving activation via text or e-mail the SnapTag adds a CRM element to the campaign that can then drive a mobile opt-in vs. simply sending a user to a pre-determined location via a QR code.

branded-snaptags

From an analytics perspective instead of just simply tracking # of scans SnapTags offer media performance and consumer behavior tracking as an added benefit. Which is key when mapping back to the original brand objectives.

So when it comes to driving 2D digital activation I am leaning towards the SnapTag execution more and more as it provides a more robust model that is scalable with the campaign.

Your Brand vs. Product on Facebook

Brands vs. Products on Facebook. This is a question I have been asked about many times. Is it better to have 1 brand location on Facebook or should I have multiple pages some dedicated to product.

While there is not a one size fits all answer I am a strong believer in having a central brand hub and manage product via that location.

The reason being is that if one of my business goals is to acquire likes I want to maximize my earned media potential by consolidating my Likes for my core brand.

A great example of a brand execution that maximizes product likes is the Nike Football Boot Finder.

Nike Boot

Notice in the middle of the page that individual boots are rated on the sub-brand level. and each also has it’s own product specific page to drive further engagement with the product.

boot sub brand

If you click on the sub category you are presented with a product specific page to drive further engagement with the product, additional share options as well as a direct retail call to action.

Nike Boot Detail2

This allows Nike to drive, track and consolidate sub-brand likes while not diluting the core brand.

Also with the upcoming Facebook changes from FBML to iFrames brands will have increased flexibility in how to execute sub-branded experiences by allowing even tighter integration with existing brand sites.

Augmented Reality a Reality for Brands

What do you think of when you hear the term Augmented Reality? Do you flash back to Tom Cruise in Minority Report? Or more recently Tony Stark in Iron Man 2 manipulating 3D objects? The prevailing thought until recently has been more style over substance. Some brand teams consider it is a nice gimmick to garner press but not a core element of an integrated strategy. But as you will see, A/R is becoming a key driver for brands that are looking to drive acquisition & engagement.

Minority Report

Iron Man 2

Augmented Reality can be a great addition to an integrated strategy as either an acquisition tool or engagement vehicle that enhances a consumers experience with the brand. With the rapid acceleration of smartphone capabilities the ability to provide relevance to a consumer and enhance their interaction with your brand across multiple channels is now reality. A/R will also be how we will interact digital information in the future.

Now the how…. Augmented Reality is simply when the real world is “augmented” by computer data.

A simple example happens on Sundays in the NFL. The Yellow line that we have now come to depend on when looking at yards to go for a first down is a great execution of AR. Simply applying a digital overaly with the real action.

Digital Line

What do I need? How and where does it work? Who is using it?

Depending on the type of execution there are a variety of ways to execute a program. The executions that most are familiar with were tied to A/R markers called glyphs.

marker

But A/R does not depend as much on the cryptic markers as it once did. The trend is moving towards markerless executions where everyday objects such as a dollar bill can initiate an immersive experience that further enhances a users experience with the brand.

AR BK

The other trend as I referenced above is tied to digital overlays that essentially enhance the environment around you. More and more executions are leveraging mobile devices as the viewer of digitized content.

Layar AR

There are multiple executions on the how. From mobile, online, point of purchase, print, TV and out of home.  Here are a few examples by medium.

Mobile: The biggest leap in recent years has been around mobile executions of A/R. With 50 million smart phone users in the US and the number quickly rising, the hardware can now support robust A/R executions. Your phone essentially becomes the lens by which you digitally enhance the world around you. With the recent executions by Yelp with Monocle & Wimbeltons use of Layar brands are looking to digitally tag the world around them and offer a new perspective on the world around them.

Yelp

Online: The initial executions were highly driven by markers. Now with markerless executions everyday objects such as a can of pringles can create a compelling reason to engage with a brand beyond the clutter.

A compelling acquisition execution was created by Pringles via an A/R advergame that was tied to the recent World Cup. Users used the Pringles can as a controller to interact with the game.

pringles

The next example by the United States Postal Service shows an execution that provides actual utility for users. The Virtual Box execution allows the USPS to create an engaging experience that provides value by digitally representing “will it fit?”

virtual-box-simulator-1

Olympus provides a great example of incorporating A/R via multiple channels that tie to an online experience. Markers in the shape of a new product were placed in targeted print locations. The user then had the option to get a virtual hands on tour of the new product. Again another example of an engaging experience that ties back to tangible value for the brand.

Olympus

Point of Purchase: One of the most innovative usages of A/R in store is the LEGO digital box. If you happen to live near a LEGO store you can use the kiosk to digitally see what your LEGO will look like when fully assembled. This is driven by markers on the package and combined with heavily branded kiosk to create a satisfying retail experience.

Lego

Television: XBOX – One example of A/R providing relevance in the home is with Microsofts upcoming release of the KINECT. The ability to interact directly with gestures to control digital data such as navigation, initiation of content as well as digitizing yourself will prove to be a gateway to mainstream application of digital interaction on a recurring basis.

Kinect

As we continue the trend of advancing hardware and further incorporating digital elements into our lives for everyday activities it will be interesting to see how campaigns are redefined to take advantage of the next great frontier in advertising.

Digital World

The Need for Social Audience Segmentation

When evaluating & auditing companies usage of social channels I notice certain recurring themes in terms of the combination of branded social media vs. consumer social (Facebook, Twitter, etc). Namely there is rarely a clearly defined approach based on audience segmentation and how the brand positions social media.

Segmentation + Social? Doesn’t that go against the nature of social? Don’t we just want to have a list of social chicklets and assume everyone knows where they need to go?

My immediate response would be “NO”. When defining a social strategy I spend a lot of time looking at the brand objectives, essence, brand pyramid, etc… then it’s on to the consumer insights and audience segmentation and behavioral assessments. Why is this important? Yes there are 500 million people on Facebook but that does not mean that certain audience segments will be open to your message.

The key is structuring a users interaction with a brands social ecosystem by leveraging audience insights for primary and secondary audiences. What you will most likely uncover is that the audiences engage and behave differently. The primary audience may gravitate towards Facebook & Twitter while the other group primarily interacts with blogs & YouTube.

In certain instances, especially those executing acquisition strategies, a social hub may be in order. Isn’t Facebook a Social Hub? Possibly if you are truly integrating all channels and leveraging custom tabs to segment and drive user interaction towards a key objective.

Wait… What did you just say? To state it simply a social hub is basically a portal thats primary purpose is to drive your audience through the appropriate path to engage with content that is relevant to them while closely mapping to the brands objectives (acquisition, engagement, etc…).

The ideal brand experience that reflects this approach based on segmentation is Turbo Tax. Turbo Tax has structured a social hub that enables users to clearly choose the path that best meets their ideal criteria to interact with Turbo Tax’s social media channels. Social Media Examiner has a good case study taking a deeper look at Turbo Tax’s usage of social media.

When I was the Chief Marketing Officer (CMO) of INgage networks and we were rebranding & revamping the companies digital presence we created a solution that clearly segmented the audience to provide a relevant consumer experience as quickly as possible. The results associated with targeted lead generation surpassed anything that had been done over the course of the 10 year history of the company.

So when considering just adding social chicklets to your branded home page or investigating how to further segment your audience, take a moment to consider whether creating a social hub based on how your audience interacts with the appropriate channels may be the ideal addition to your current strategy.

If you are interested in engaging with me feel free to contact me. We can audit your brands current position in the marketplace that is then scored against our Digital Value Index. Or we can work with your brand team to define an integrated strategic digital framework that supports your brand initiatives.

Largest Social Network on TV

I write a lot about social media, digital strategy & emerging technology. One of my favorite past times is console gaming via my Xbox 360.

With the recent release of Halo Reach and personally surpassing 100,000 gamerscore on Xbox Live, I wanted to write about how digital marketers can leverage the largest social network on TV to further enhance digital engagement.

TheBlackFin

With over 23 million users and an average of 4 million engaged daily Xbox Live is an incredible platform to execute digital strategies and tactics.

From branded avatar collections, product tie-in’s, promotions and sponsorships there are many opportunities for brands to leverage the sticky experience that Xbox Live provides.

This also goes beyond typical in-game advertising.  Having a truly engaged, socially connected fanbase that also associates closely with brands is a key factor when evaluating the platform.

This is one of the only times I apply my personal insight into a platform. When I am on Xbox Live I pay attention to brand promotions here moreso than any other medium. The reason being is that upon start up of the console I am presented with compelling content blocks that I choose how I interact.

I have found that I enter most if not all of the branded sweepstakes and I pay attention to when new branded avatar items are presented. And with more traffic than ESPN.com this is an ideal way to drive brand engagement.

Being a fan of the platform and a daily user, You don’t get to 100,000 gamerscore by not engaging almost daily, I have experienced the benefits and opportunities first hand.

So the next time you are looking for an ideal channel beyond traditional media and digital outlets don’t forget about the largest social network on TV.

If you are a brand manager interested in leveraging Xbox Live please contact me as I have a long standing relationship with various Xbox Live teams.
From branded avatar collections, promotions, advertising etc…

Social Foundation

A good portion of my day job is defining social/digital strategies and programs to assist major retail brands maximize their WOM opportunities to drive multiple business objectives. Be it acquisition, engagement, advocacy, etc… Before I begin a new client engagement I like to establish a framework of which there are critical building blocks that I refer to as the Social Foundation. Like a foundation to a house there are key elements that are essential to understand prior to launching straight into strategic discussions.

1) Define Social Strategy: It is absolutely critical to define the GTM social strategy to ensure that all elements are aligning with goals & objectives and are measurable with the appropriate KPIís.

2) Content Creation: The key to driving WOM is to ensure that enough content is created (UGC/Brand) to form a foundation that helps to funnel users through our ideal brand centric social experience. While also maximizing our SEO positioning. Social & SEO are very closely aligned.

3) Discoverability of Content: It is highly important for content to be created in a way that maximizes portability of the content. RSS, tagging and leveraging the latest in terms of highly optimized publishing systems as well as sharing widgets are critical to ensuring that your branded content is being maximized to its fullest reach potential.

4) Highly Engaged Community Management: Social more-so than any other channel requires that the brand fully engages in discussions across multiple channels. This includes going beyond simple content publishing to actually following and commenting on trending topics and reaching out beyond the brand conversation. This is where I see a significant gap in terms of brands that are truly benefiting from social programs to those that are simply executing against a publishing calender.

5) Incent creation of UGC content: 30-60% of product centric search results are actually from UGC, primarily blogs and reviews. It is absolutely critical to get new products that integrate with mobile reviewed as this is a key driver for awareness. Do not focus on a single vehicle for content creation, it is critical to leverage multiple types of media to maximize opportunity. Text, Video, Photos, etc…

6) Unique content sources as a KPI: One form of social measurement that I commonly incorporate is to compare unique content sources to competitors. This is a key metric as the more content that is created from unique sources the higher the likelihood of being shared and viewed by more individuals.


7) Integration of Social Channels: It is critical to ensure that each social channel that is represented is integrated to the fullest with the goal of driving traffic/awareness through to the ideal social destination, be it an engaging application or promotion there has to be a specific intent for the user and the brand. Raise awareness through multiple channels but ultimately drive through to your ideal destination

8) Extend Digital into Retail: Maximizing the reach of both online Rich Media, Social, Augmented Reality and offline communication vehicles such as location based services, QR codes that direct to app downloads or videos, SMS campaigns & mobile loyalty all tie into a brands ability to fully maximize digital vehicles towards retail/offline engagement.

9) Leverage Partners: Corporate partnerships are key to reaching targeted users and to maximize cross-promotion. When selecting the ideal brand partners it is key to review their social strategy and how they are maximizing their channels to ensure there is a cultural fit. You do not want to execute a highly socially driven strategy with a partner who is at the beginning of the social continuum.


10) Incent in-store purchase: Finally incent users via proximity solutions that tie back to providing immediate value while also potentially driving engagement back to online or mobile properties.

Mobilizing Your Social Strategy

Today I was the host of the weekly Hashtagsocialmedia tweet chat. Our topic was integrating mobile with your social strategy with a focus on strategy, best practices and tactics.

Mobile is a hot topic and according to comscore with 234 million americans aged 13 & older using mobile devices in the US that trend is not changing anytime soon. Of that 234 million 49.1 million in the US now own smart phones. With the continued adoption of smart phones we are on the cusp of changing how mobile can impact a brand.

In today’s chat we discussed the following topics:

1) How would you integrate mobile with your social strategy

2) How do you maximize the mobile web?

3) What tactics & why? (Proximity, Geo-location, Augmented Reality, QR Codes, SMS)

All with the mindset of integrating and extending digital & social via mobile.

Here is the archive/transcript of today’s tweet chat

hashtag1

Hashtag Social Media Tweet Chat

Tomorrow at 12PM (EST) I will be hosting the latest Hashtag Social Media Tweet Chat. We will focus on integrating Mobile into your Social Strategy.

You can attend the event live at http://hashtagsocialmedia.com/live or you can follow via a Twitter search of #sm68.

See you tomorrow!

hashtag

First Your Profile Then the World

Big changes are brewing with Facebook as today many subtle changes were rolled out across the popular social network. Becoming a fan has given way to simply “Like”. This is an interesting trend and one that has longer reach than initial appearance.

Fans converted to “Like” so if a user was a fan of a brand or product that did not change. The addition of “Like” is an attempt by Facebook to expand beyond it’s platform and influence more of our behavior beyond the Facebook domain. Instead of becoming a fan of a page it is less of a commitment to simply like a page or brand and show a higher level affinity.

History has shown first with Friendster then MySpace that viability as a destination is short lived and users can be a very fickle bunch. Facebook is now focused on becoming the platform that business relies upon as well as expanding the Facebook experience first by incorporating your web history with ads it serves you but also to drive push the ”Like” concept across the web via a toolbar.

Facebook Connect was a first step in the plan that furthered the reach by allowing 3rd party integration and additional dependency on Facebook. With 400 million users as a marketer why wouldn’t I want to drive interaction through this channel. The next step in the process was to launch a toolbar that focuses on distributing “Like” so that any interaction that you have outside of Facebook can connect back to your profile and further drive the value of the network. This then allows interaction wherever I may browse and the ability to share with my network.

This ties into another big rollout… Facebook Community Pages. These are not pages that map to a specific profile and don’t impact status updates. Instead they are public content from users status messages. Now updates can be friend specific or you can have access to the general Facebook population. This is an interesting play from a privacy perspective as initial research shows you can opt into sharing with the community feeds.

Another issue that shows Facebook is serious about dominating expansion was the announcement today around XAuth. xAuth is a proposed authentication standard that will limit the number of share this buttons and will automatically remember what networks you are a part of and only display those options. In theory that sounds great but two of the larger players are not on board. Facebook and Twitter are notably absent from the group that already has the support of Google, Yahoo, MySpace, and Disqus.

Facebooks noticeable absence from Google Buzz is yet another reminder that when it comes to expansion they want to be the primary. This and of course Facebook’s relationship with Microsoft. It will also be very interesting to see how Facebooks geo-location services will impact the Foursquares & Gowallas of the world. With a 400 million user base it could crush the 600,000 Foursquare users.

It will be interesting to watch how the changes in the platform, the desire to follow you wherever you may browse and add in the ability to serve contextual ads based on browsing history will impact user behavior. I see potential tied to some of the changes from a marketing perspective but time will tell if Facebook can go where few have gone before.

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