Are You Measuring Social Media Lifetime Sales ROI?

This is a guest post courtesy of Inner Architect CEO Susan Hanshaw:

LTV calc

In 1 Simple Ingredient for All Your ROI Needs, I discussed using a key code system to track the performance of individual social media efforts. While this practice is a great step towards tracking the sales performance of the social media channel, it is not enough if you truly want to learn how your social relationships are influencing sales in the long term.

What does it mean to measure impact on long term sales?

Think about it this way. Evaluating long term impact means there is going to be a starting point, a building up of history, and then a point where you measure what has happened since the starting point.

Starting point: Date of first sale

Building of history: Transactions made over a period of time

Measurement point: Recording cumulative sales that have occurred since the date of first sale

How do you apply this analysis to social media?

The goal here is to look at the buying history of the customers you have social relationships with versus those you don’t.  This requires that you:

  1. Identify which customers are Facebook fans and/or Twitter followers.
  2. Append this information to your customer database or marketing database for future reference.
  3. Segment your database into  groups based upon relationship.
  4. Further segment your groups into months or quarters based on first sale date.

In the example above, sales to Twitter followers is 14 points higher than average and 20 points higher than customers where there is no social relationship.  To fully load this analysis to get a total ROI, you would need to load in the costs associated with social media. I’ll save this discussion for a future post. Please leave a comment or email me if you have any questions in the meantime.

Hanshaw & Guadagni Land Guest Writing Opportunity

Guest writing is one of the fastest ways to meet new contacts, provide exposure and viral possibilities for your content, and learn from a new audience of readers.

We at Innerarchitect.com are proud to announce our acceptance as guest contributors to SearchEnginePeople.com Canada’s “largest and most trusted Internet marketing company.” Search Engine People services 300 clients worldwide including many of Canada’s top brands. President and CEO Jeff Quipp and blog Editor Ruud Hein are the driving forces behind SearchEnginePeople’s blog.

Inner Architect Features on SearchEnginePeople.com


Inner Architect’s Dean Guadagni Speaking at WITS July 13th

The 6th annual Wine Industry Technology Symposium returns July 13th and 14th. Billed as “Technology and Innovation Best Practices for the Wine Industry”, Inner Architect Business Director Dean Guadagni will be participating as a speaker-panelist in the day one afternoon workshop: “Embracing Social Media & Commerce: Cultivate Brand Loyalty.” The opening day activities include a Technology Showcase, CIO Round Table,  Technology Showcase and workshops:

Day One: July 13th

Afternoon Workshops

A. Embracing Social Media & Commerce: Cultivate Brand Loyalty

The session is about Cultivating Brand Loyalty and developing grassroots evangelists via social media with new and online wine lovers.

Moderator: Lisa M. de Bruin, National Account Development Specialist Hahn Family Wines

Panelists: Dean Guadagni, Business Director, Inner Architect; Judd Wallenbrock, President/General Manager Michel-Schlumberger Benchland Wine Estate; Hardy Wallace, Social Media Guru, Author, Dirty South Wine Blog, former Murphy Goode Wine County Lifestyle Correspondent.

B. Consumer Compliance: The Next Generation The Next Generation of Issues on PCI Compliance

C. Google Analytics and other Free or Low Cost Technologies

D. Apps Alley

E. Your System: “Not Guilty as Charged”

Workshop Times

The 5 workshops will be presented at both 2:30 – 3:45 and again at 4:00 – 5:15 pm (subject to attendance). For more detailed information on both day’s activities go to: http://www.wineindustrytechnologysymposium.com

Twitter Strategies: 2 Super Effective Steps To Find Prospects On Twitter

The best and easiest method to search for prospects on Twitter, in the past, was to utilize WeFollow.com, Twellow.com or any other Twitter user directory. Although these are fine directories, they have challenges in the way they rank or list people as well as the tags they utilize. There is a better way to find prospects and  you can do it in two easy steps.

Step 1: Mine Users Follows

Target users you are competing against, users in your industry, users you network with or wish to network with in the future, as well as significant users you respect that are in your niche within your industry.

Ex: @ChefBen Follows a number of chefs around the world. If you are targeting celebrity chefs, world class cities, cuisines, or unknown but prominent chefs, Chef Ben’s list of people he follows is a great resource

Step 2: Mine the User’s List(s)

An even more successful strategy for finding prospects is to check the lists that users (you trust) have created.

Ex: Again Chef Ben is a great example with his http://twitter.com/chefben/celebrity-chefs list. This list gave me a head start in building a planned prospect list I wish to follow on a controlled basis.

Do You Know How to Integrate Your Traditional Sales-Marketing Channels Into The New Social Media Channels?

The time for integration of your traditional sales and marketing channels with social media has arrived. The new social media channels of Facebook and Twitter are the next pieces to marketing success. The key is integration of old into new, measuring all channels, and understanding where your customers prefer to receive their information about you.

Traditional Sales & Marketing Channels

Facebook and Twitter: Begin the Integration

  • Identify your customers who are on Facebook and Twitter
  • Identify your customers who are Facebook fans and Twitter followers
  • Engage with your customers, on Facebook and Twitter, who are not fans or followers
  • Formulate a strategy to get your non fans and non followers to adopt you