Like many of you, I am a marketer who is committed to figuring out this social media thing. While trying to answer the question of ‘how will I get my return on investment’, I then ask ‘how do I begin to calculate it?’ I see others go back and forth with counting their followers or their ‘likes’ and stating publicly that they made their goal of 1000 retweets and 5000 likes over a period of time. But for someone like me who is focused on using social media to convert someone into a prospect, a like or retweet doesn’t go very far.
Engagement as a strategy
Last year I embarked upon a strategy to use Twitter Paid Ads. My goal was the same as with any other channel; conversion and acceleration. Now we all know that you cannot measure conversions with likes. I certainly cannot measure what the impact is of someone retweeting my post in regards to how it moves them further down the pipeline. Which is why I was surprised by Twitter’s mentality that the engagement of my paid tweet was important.
I get that Twitter cannot see what happens after the click. The platform does not know if someone filled out my form or performed the action that I wanted them to. What they can tell me is how many people clicked, how many people replied and how many people retweeted. But does any of that matter?
When looking at the numbers, the paid tweets in which I showed the highest engagement rates were actually the lowest performing when it came to conversions. I immediately stopped looking at this number. Turns out it actually didn’t matter if someone replied.
Conversion as a strategy
Now let’s get back to what’s important; conversion as a strategy. Now I know some of you will bellow and belch that retweets mean something and I don’t disagree. But they don’t mean anything to ME – the demand generation marketer.
When you are spending money on social channels, such as Sponsored Paid Tweets via Twitter, it’s important to track what is important to you and leave the rest ignored. I found the engagement statistics as unreliable in regards to my goals. Once I started ignoring those and paying attention to the intended action (clicks -> form completions), I was able to ‘rinse and repeat’.
Over a period of 9 months, my cost-per-lead was reduced by over $10 and conversion rates increased by double percentage points.
How you tried promoted tweets? How are you tracking success?