With the customer journey varying for different categories, the advertisers find it difficult to attribute the success of the campaign to a specific channel. According to Convertro’s figures, 87% of interactions with social content were a middle touch, while just over one interaction in 10 was either the last or only touchpoint.
Multi-touch attribution looks at data for all sales generated and ascertains the weight to be associated to each channel and arrive at the dollar impact. An example of attribution is shared by Nielsen.
AOL has analyzed performance of Organic Social Media Campaigns and Paid Social Media. The paid advertising seems to be very effective for conversion in subscription based pricing and beauty category.
To understand the role of channel for each phase of customer journey here are some charts.
Key Takeaways For Using Paid Social Advertising
YouTube is the most effective paid social media for Last Click attribution bringing in greater conversions.
Twitter is the least cost channel for cost per action as seen from the chart below. According to Hootsuite
“Twitter Ads have been one-third the cost of other paid channels we use”.
— Cameron Uganec, Hootsuite
Twitter analytics cost per action metric for Mobile App Promotion Campaign
Organic Content Strategy is used to guide and inform social paid advertising. As shared by Hootsuite, a leading B2B Content marketer, for demand-generation, content that generates most engagement with the fans and followers helps them decide the right content to promote with paid advertising.
The template below can help you ascertain and structure your content approach to achieve the right attribution for different channels and incorporate elements that are critical to arrive at your Organic and paid Social ROI.
While the conversion rate for Display and Social are nearly the same the Cost for Social Paid Advertising, remains low compared to other channels.