good data paid social brief

HOW TO GET WHAT YOU PAY FOR FROM YOUR FASTEST GROWING MARKETING CHANNEL $10 billion dollars. That’s how much marketers will spend on paid social advertising in 2015, according to eMarketer. By 2017, that number will hit $15 billion, almost a 200% increase from where we were last year. In the next 5 years, social media spending will double, comprising a full 22.3% of marketing budgets. Why are marketers moving budget from owned to paid? ENHANCED VISIBILITY AND REACH That’s right, the end times of organic reach are nigh. With Facebook’s announcement that it would reduce the number of promotional posts fans see “signiﬁcantly,” organic has taken a hit. Reach has dropped to an abysmal .07%, according to Forrester. That means you have to pump out a lot more content to even come close to the exposure paying per social click can give you. In fact, a recent Fermi estimation done by Contently came to the conclusion that for business- es with less than 100K fans, it could take a full 6 years for organic Facebook clicks to pay off the cost of acquiring its fans, when compared with paid. Investing in paid offers better ROI, point blank. INCREASED CONVERSION RATES AND ROI So how do you get to that better ROI? With targeted conversions. When you put your money in paid, you can choose to promote your top performing content, to the right audience, at the right time–steeply increasing relevancy. Paid social media offers a full 25% higher conversion rate than organic social. From a ﬁnancial perspective, moving budget from organic to paid is the equivalent of switching from boiling the ocean to boiling a pot of water–and having it reach its boiling point faster. PAID SOCIAL IS THE NEXT BIG THING RICHER INSIGHTS INTO PURCHASING BEHAVIOR Finally, paid social gives you more insight into what your buyers are doing, along their path to purchase. With paid social, you get more, better options with which to engage with your targeted audiences. And not only do those engagements offer higher conversion rates, they offer more data that you can use to optimize your activities, doubling down on ROI. With most offering easy APIs that can pump those insights right into tools like GoodData’s cloud analytics platform--the opportunities for data-driven marketers to maximize on a channel that reaches 74% of all domestic internet users.

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ENHANCED VISIBILITY AND REACHThat’s right, the end times of organic reach are nigh. With Facebook’s announcement that it would reduce the number of promotional posts fans see “significantly,” organic has taken a hit. Reach has dropped to an abysmal .07%, accord-ing to Forrester. That means you have to pump out a lot more content to even come close to the exposure paying per social click can give you. In fact, a recent Fermi estimation done by Contently came to the conclusion that for business-es with less than 100K fans, it could take a full 6 years for organic Facebook clicks to pay off the cost of acquiring its fans, when compared with paid. Investing in paid offers better ROI, point blank.

INCREASED CONVERSION RATES AND ROISo how do you get to that better ROI? With targeted conversions. When you put your money in paid, you can choose to promote your top performing content, to the right audience, at the right time–steeply increasing relevancy. Paid social media offers a full 25% higher conversion rate than organic social. From a financial perspective, moving budget from organic to paid is the equivalent of switching from boiling the ocean to boiling a pot of water–and having it reach its boiling point faster.

PAID SOCIAL IS THE NEXT BIG THING

RICHER INSIGHTS INTO PURCHASING BEHAVIORFinally, paid social gives you more insight into what your buyers are doing, along their path to purchase. With paid social, you get more, better options with which to engage with your targeted audiences. And not only do those engagements offer higher conversion rates, they offer more data that you can use to optimize your activities, doubling down on ROI. With most offering easy APIs that can pump those insights right into tools like GoodData’s cloud analytics platform--the opportunities for data-driven marketers to maximize on a channel that reaches 74% of all domestic internet users.

TARGETING OPPORTUNITIES with Paid SocialTOP ACTIONS YOU CAN TAKE TO DRIVE CUSTOMER ENGAGEMENT

gooddata.com/socialmetrics 415-200-0186 @gooddataGet in touch.

FACEBOOK: The Action: Click to Buy AdsThe Metric: Cost per EngagementTrack the full multi-touch path, from awareness–consideration–close with Facebook click to buy ads.

[email protected]

TWITTER: The Action: Dedicated Product PagesThe Metric: Ad Attribution by ProductCreated dedicated pages within Twitter to showcase images, videos, reviews, pricing and buying options.

YOUTUBE: The Action: Demographic data on viewersThe Metric: Engaged Views by Target DemoFigure out if you’re engaging the right people, with segmented viewing data by demographic.

INSTAGRAM: The Action: Like2Buy IntegrationThe Metric: Ad Attribution by ChannelCreate a native web experience where users click to buy without realizing they’ve left the Instagram.

PINTEREST: The Action: Buyable Pins (click-to-buy)The Metric: Online vs. In-Store ConversionsShowcase and sell your products in a visual marketplace, then track social vs. in-store conversion.

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