What better way to ring in the holiday weekend than with an insightful look into the world of social media. Last Friday, June 30, myself and one of our accounts interns headed down to Detroit to learn what’s new and exciting in social media at The Atheneum Hotel.
The event, hosted by the Social Media Association of Michigan, featured six speakers, with topics ranging from storytelling on social media all the way to integrative marketing tactics. Check out our favorite takeaways from the event, here:
Elise: It’s hard for me to pick just one favorite moment from #SMDayDetroit. There were so many small tidbits of information that were so helpful to what I do each day. During each speaker’s session, I kept thinking wow, I could use that for a client!
If I had to pick one piece of information that I found the most helpful, it would probably be from Michelle Gilbert, the VP Public Relations and Social Media for the Heartland Region at Comcast. Gilbert was asked how she manages social media for her region while working with such a large, national brand. Her response: Geo-targeted Social Posts! That way, location specific content only shows up to users in the area where they’re relevant.
Drew: What I found most interesting was the topic of data collecting. Jason Falls, founder of Conservation Research Institute, is using programs to search for hot-button words in online conversations. This allows companies to “hack into” these conversations and find groups of people interested in their products.
Social Media Day Detroit reminded me that the world of digital marketing is always changing and staying on top of that change is the goal.
Overall, I’d say Social Media Day Detroit was a great success. I look forward to seeing what other exciting events the Social Media Association of Michigan will put on in the future.
Want email marketing? Go to an email marketing expert, of course. What about search ads? A successful search marketing agency is the obvious choice. Social media? An organization that specializes in all things social is clearly right decision.
Except, it isn’t always that simple. In fact, none of these are the way to go if you’re looking to marketing your business in more than one way. While it’s always a smart decision to choose the most qualified people to help market your business, siloing your services can be highly detrimental to your efforts if not managed properly. Here’s why:
What It Means to Silo Your Services
Siloing occurs when each of your marketing services are segmented into different departments or agencies. This means that for every different marketing service you’re using, you’re working with a different team who specializes in only that marketing method. Because each team or agency is an expert in their field, many businesses believe that choosing specialized services for each of their marketing efforts is the best way to achieve their overall goals. The problem is, this can leave many partners on different pages.
Why This Can Be Bad For Business
When you have different teams working on different services, it’s can become difficult to create a comprehensive strategy where all of your marketing efforts align. Instead, you end up with one team doing what’s best for their services, the next doing the same for their methods and so on. While each individual team’s tactics may work to serve their purpose, they ultimately will not work together for your business’ overall goals.
Ways to Combat The Silo Mentality
If your marketing services are already siloed, here are a few ways you could combat the segmented strategies to better meet your business goals:
Establish an overarching vision and make it clear to all your marketing teams/agencies
Establish a key communication channel that allow the partners to work together
Have one person (ideally internally) or one partner be in charge of orchestrating the overarching strategy, management and communication
Be clear about your overall goals, individually and holistically
Pay attention to reports to see if your goals are being met and don’t be afraid to ask questions, measurement can be the hardest part!
Communicate regularly between teams to establish a team mentality
While each of these tips may work to combat some of the challenges with siloed marketing, it sometimes will make more sense to bring your efforts under one or two roofs, depending on your business. The important thing is to really identify your needs, internally and externally, to ensure you have the best team in place to help your business grow.
“Why should I care about my visitor value?”
Let’s be honest, did this question run through your head when you read the title of this blog? If it did, don’t worry. You’re not alone. Many companies and brands do not understand the true importance of calculating their visitor value. Here’s a brief breakdown of why it’s important, and what to do once you’ve determined your website’s visitor value.
How to Calculate Your Visitor Value
Visitor value is exactly as it sounds: calculating the monetary value of each visitor to your webpage. Once calculated, this number can determine what marketing channels make sense for your campaign objective, help you optimize your advertisements and, eventually, increase your visitor value and overall sales. Calculating visitor value boils down to one simple formula:
Revenue / Total Web Visitors = Visitor Value
Now before you pull out your trusty calculator and begin crunching the numbers, make sure that the revenue generated and web visitors you’re looking at are all for the same amount of time, for example 6 months or 1 year.
What It Means
Interpreting your calculated visitor value breaks down into two simple categories:
- High web traffic with low conversions
- Low web traffic with high conversions
High Traffic With Low Conversions
What this means is that although your website has high impressions (the number of people physically seeing your page), not many users are purchasing your products or services. This could be due to your ads or other marketing efforts being served to unqualified audiences — people not actually interested in what you’re offering.
Low Traffic With High Conversions
I know what you’re thinking, “Why would I want lower traffic?” While it may seem frightening to lower your overall traffic, this can actually be a good thing. Serving advertisements to a smaller, more targeted audience, one that is interested in your product or service, means that if a user ends up on your site, he or she is more likely to make a purchase. This will increase your visitor value and your overall online sales.
The Next Steps
As mentioned before, calculating your visitor value can help you better market your products or services. Now this will require some additional steps, whether on an ad platform or a web traffic tracking program. Here are a few suggestions on how you can optimize your marketing based on your visitor value:
- Eliminate poor performing keywords – Increase your visitor value, and overall revenue by eliminating any keywords you find that are underperforming. This can be done by adding negative keywords or deleting poor performing keywords from your digital advertising platforms.
- Focus on successful sources – By analyzing the source of your web traffic, you can determine where users are accessing your website. These insights can include everything from location and time of day to specific sources, such as Facebook or Google Adwords. Once you’ve found a few successful sources, you can reinforce these by increasing budget or creating ads catered toward these platforms.
Whether your visitor value is low, high or somewhere in between, there is always room for improvement. By committing to some time, effort and many phases of trial and error, you can effectively increase your visitor value and overall sales generated on the web.