Today's blog was written by Chad Bender, a Principal Product Manager for Oracle Social Cloud.
Word-of-mouth is one of the most influential and effective ways people spread information. It is the primary factor behind 20 percent to 50 percent of all purchasing decisions, according to Jonah Berger’s Contagious: Why Things Catch On. As most people today are aware, social media is a place where people love to share and spread information. One could argue it’s how word-of-mouth is done today.
Therefore, it makes sense that marketers are using social media posts, likes, tags, and pins to anticipate human behavior. When you “Like” or click on a social post for a vacation to Jamaica, Priceline now knows you’re looking to book airfare; Macy’s now knows you might want to buy a new swimsuit; and Delta now knows you might want to upgrade to a card with zero transaction fees abroad and earn sky-miles with every purchase. Thoughts and desires based on clicks are being captured. Is your social media campaign capturing your customer’s desires?
With Dynamic Link Tracking (DLT) marketers can do just that. They can create URLs from within Oracle’s Social Relationship Management (SRM) platform, and place them in a variety of marketing channels that third-party analytics systems can use. By utilizing DLT, marketers can determine which social channels perform better and by leveraging the integration points between Oracle’s SRM and Oracle Marketing Cloud (Eloqua & Responsys) platforms, marketers can achieve better social media ROI.
Let’s say an airline marketer publishes a message with a link to a summer sale (50% off airfare in July) to several different channels: Facebook, Twitter, Google+, Banner Ads, Paid Search, and an Email Newsletter. Before she publishes the post to all her channels, the marketer uses DLT to build a URL with tracking parameters appended to the link.
Later that week, she reviews the results in Google Analytics and discovers 44% of the people who viewed the sale on the airline’s website came from Facebook, 25% came from Twitter, 23% came from Google+, 1% came from the Banner Ad, 4% came from Paid Search, and 3% came from the Email newsletter. This is what we call Attribution. The marketer can see that 44% of the traffic that clicked to view the sale was attributed to the Facebook post.
For marketers trying to maximize ad dollar spend and maximize the conversion rate across all marketing channels, Attribution provides powerful information.
Using DLT to track the performance of one’s marketing channels is a great feature. However, the Integration between Oracle Marketing Cloud and SRM gives marketers the ability to capture new email contacts and to track those contacts beyond the initial social post to gain insights into the user’s entire journey across owned web properties. Any links to owned web properties such as newsletters, whitepapers, social posts, websites, micro-sites, blogs, or landing pages that the user clicks on in the future will be tracked in Oracle Marketing Cloud.
Using the captured email addresses and by tracking the data over time the marketer can create lead scores to fine tune her marketing audience and fine-tune her messaging in order to target the users most likely to be converted as customers.
With DLT it’s great to know what to Attribute the marketer’s social traffic to and it’s great to have an Integration with a marketing automation platform such as Oracle Marketing Cloud—a key differentiator for SRM—however none of that matters unless the marketer has an implementation Strategy.
In a recent article on Contently.com, the author Shane Snow explains Why Paying for Social is Better Than ‘Doing’ Social. Snow crunches the numbers showing marketers why they would be better off with a strategy that focuses on creating higher quality content and put social and email marketing behind it. He says, “A ton of people still arrive at a company’s website via social media…smart companies will put paid spend behind those individuals’ most engaging [social] posts and implement an email capture strategy…If you have to choose between adding a subscriber to your email list or gaining a new Facebook fan, go for email every time.”
Attribution + Integration + Capture Strategy = Higher Quality Social Media ROI
With that being said, Oracle’s SRM plus Oracle Marketing Cloud lends itself perfectly to such a strategy. Dynamic Link Tracking tells marketers which social media posts drive higher performance. The integration between SRM and Oracle Marketing Cloud—a key differentiator—gives marketers the ability to build marketing campaigns in Oracle Marketing Cloud yet publish posts and capture contacts via SRM. By having the combination of Attribution plus Integration plus an email Capture Strategy marketers can seize customer’s desires and maximize social media ROI with Oracle Social Relationship Management.
To hear more from Chad, you can follow him on LinkedIn, catch him surfing the waves of San Diego, or eating street tacos.