Craig Greenfield's Redefining Performance Marketing: Holding Performance Marketing Campaigns Accountable
Facebook recently passed Google as the most visited website in the U.S., according to Hitwise. This achievement from the social networking giant reminds marketers not only of the growing importance of social media, and Facebook in particular, but of choosing the right approach and success measurement plan.
Performance media offers marketers several solid choices to connect with target audiences, but marketers should clearly define campaign goals up front to ensure they choose the right campaign tactics and success measurement scheme. With concrete goals in place, marketers can consider incorporating fan pages, ads and applications into their campaigns and create plans to observe and measure engagement, conversions, connections and opinions (ECCO) to quantify success.
Facebook pages offer free, simple ways to update people about promotions, events, new products and more. Marketers should select a memorable Facebook vanity URL for their pages, and promote them on their brands’ native sites, blogs and other promotional materials since consumers need to opt in or click the "Like" button on the page to engage with the brand.
Search engines rank social site pages high for branded searches, and marketers can use them to own more of the search engine results page since search engines only display two results from marketers’ native sites.
Applications foster viral sharing, encourage brand interaction and generate leads through “tell your friends” and “add to profile” buttons. Papa John’s, for example, uses sweepstakes apps to capture names and email addresses while staying top of mind with consumers. Tools exist to track user interaction with applications.
Performance media ads are text- and image-based ads that appear in the right sidebars of Facebook users’ profile pages. Marketers trigger these cost-per-click or cost-per-impression ads based on user attributes like gender, geography, age and interests. These powerful microtargeting capabilities enable marketers to effectively target only the most suitable of Facebook’s more than 400 million users.
ECCO success tracking
A performance marketing campaign’s success hinges on whether, and to what extent, it achieved its goals. ECCO offers a concrete approach to measuring and quantifying success. It can be adapted to a specific campaign’s goals and tactics to establish clearly defined success metrics and milestones, but the approach always incorporates some combination of engagement, conversion, connection and opinion measurement. These terms are explained in more detail in the following list:
- Engagement. What immediate reaction or interaction was created? Often measures clickthroughs, rollovers, interaction rates, video streams, time spent with ads, games played, etc.
- Conversions. Following engagement, what actions did the campaign spur? Commonly consists of sales/orders, leads/emails, downloads, sweeps entries and other post-click activity.
- Connections. How well did the campaign reach its target? What impressions were left? Measures reach, frequency, cross-site duplication, impressions delivered, site visits and more.
- Opinions. How was the campaign perceived? What reactions were elicited? Can include brand studies, polls/surveys, ad recall, brand awareness, purchase intent, among other things.
Marketers and their partners must assign the right values and indicators to each ECCO element, but the framework provides an adaptable approach that can support a wide range of performance media campaigns and other social media programs. Whether just getting started or devising the next in a long line of effective performance marketing campaigns, marketers can lean on ECCO to hold Facebook campaigns accountable.