Just like Metrics and KPIs, Conversion is another measurement term which is often mis-used (thanks to Jim Suchara for the suggestion). A conversion happens when someone completes an action you want them to take — purchases from you, signs up for a newsletter, registers for a webinar, etc. So, just like KPIs (key performance indicators) measuring conversions requires first understanding exactly what it is you want people to do — what are your business goals and objectives?
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Strategy
The Wrong Way to Social Network
Social networking (using the social web) is about connecting with people — asking questions, having conversations — basically the same things you would do if you were talking in-person. Yet many companies still treat social media like traditional media — as a way to distribute marketing and advertising messages. While social media does provide a cost-effective way to reach a targeted audience for marketing, the real opportunity is in making personal and human connections with that audience. Here are some of the most commonly repeated mistakes I see when it comes to social networking and using the social web:
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Old Spice Viral Campaign Increases Sales
While the Old Spice ad campaign, “The Man Your Man Could Smell Like,” was amusing to watch, marketers were interested in whether it could lead to increased sales. According to The Nielson Co. and SymphonyIRI Group, the answer is yes, as reported by BrandWeek:
Over the past three months, sales jumped 55 percent and in the past month, they rose 107 percent, also per Nielsen. Recent sales figures from SymphonyIRI also show a lift for Old Spice Body Wash products. – Old Spice Campaign Smells Like a Sales Success – Brand Week
As the Old Spice Man responded directly to people via a series of videos, we took a look at the basic measurements available. Let’s take an updated look now that we have sales information.
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