Performance Brand Marketing and Facebook

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Yesterday the Dachis Group announced the public launch of the Social Business Index. The Social Business Index is much more than what meets the eye at first glance. Below its beautiful UI, lies a treasure trove of social data that is continuously being replenished, enriched, organized and analyzed. To sum up what Erik Huddleston, our CTO said, we’ve built:

We’re living in amazing times as digital marketers. Never-before has the world seen an opportunity such as this. The day where digital has audience and data at massive scale is here. Facebook with its 750+ million active users can deliver a Super Bowl commercial size audience on any given day. Twitter with its 350 billion tweets per day is a goldmine of data. It’s all coming together. The rich and transparent data creates an opportunity to uncover insight; the two way conversations that are being had by brands via social channels create an opportunity for a learning and feedback loop; couple these with market feedback and there is an opportunity to develop a closed loop ROI system that enables us to shift the conversation from brand marketing to Performance Brand Marketing.

The Opportunity for the Facebook Ecosystem
In my last post, I spoke to Brand Marketing Programs made Social by Design and eluded to Performance Brand Marketing. Just as Facebook is at the heart of Social Design, so will the Facebook ecosystem be the biggest beneficiary of Performance Brand Marketing. As we hone in on the value of executing brand marketing programs on Facebook by quantifying brand marketing business outcomes such as Brand Awareness, Brand Love, Brand Mindshare, and Brand Advocacy, the dollars put to work by marketers on Facebook programs will increase dramatically. Today, the waters of measuring the business value of a Facebook program are murky. Yes, we have success metrics and KPIs, but we don’t have a widely acceptable framework for measuring the correlation between social programs and brand marketing business outcomes. The number one success metric for individual programs is the number of net new Likes that the program generates. Now, this is not a bad metric to focus on as a new Like correlates to some business outcome, but which business outcome and what are the other measures and metrics that correlate to that same business outcome and how are they all quantified and analyzed to drive learnings and actionable insights. This is the hard problem that the Dachis Group Social Business Intelligence as a Service (SBIaaS) platform addresses.

On the topic of measurement and actionable insights, with traceability of the behaviors of specific campaign based activities executed by a brand, we can use the execution of those behaviors and associated measures and metrics to deliver real-time learnings and actionable insights. Consider being able to quantify how your Facebook Coupon Campaign is performing against the market and your competitors. Or, knowing how many people you moved from your Engaged Market (a fan, liker, or follower) to becoming an Enthusiast (someone that has positive brand affinity) to an Advocate (someone that effectively spreads positive word-of-mouth about the brand and ultimately has a positive impact on the brand). These are a couple of the pieces of the soon to be much larger Performance Brand Marketing puzzle.

Since we’re in the early days, it helps to point out what Performance Brand Marketing is not. Performance Brand Marketing is not Performance Marketing. It’s not going to enable you to drop $1 into the Facebook funnel and receive a $1.25 in return at the cash register. It’s not going to provide a direct correlation between your spend or specific program on Facebook and your sales. It will help a brand to quantify the value of its overall brand marketing efforts in social and focus spend in social optimally. It will more specifically help to provide insight into the value of and correlation between a wall post, a share, a sweepstakes or contest entry, a user generated photo upload, and other such social actions and brand marketing business outcomes such as Brand Awareness, Brand Love, Brand Mindshare, and Brand Advocacy. As mentioned above, we’re in early days here; in the early days of a really exciting shift from brand marketing to Performance Brand Marketing that is going to have a profound impact on marketers and the Facebook ecosystem.

This post originally appears on the Dachis Group Collaboratory.

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