Yeah so that that around said two thousand eight and nine but post two thousand six and seven was when a lot of these investments in the social media space started really taking off right so all these biggies like Sequoia and Tiger who backed up Facebook and the other smaller you know social networks like LinkedIn and all that they all started reaping benefits of having invested in these networks now if you guys realize in the last three years was when Facebook and Twitter actually actively change their user policies right can you guys think about what big changes have happened from a Facebook point of view, yeah I mean they try to beef up security but it's NC what they do is from a content sharing point of view it's become all the more difficult for you to start sharing content unless and until you start paying up.

The Facebook, once you open up your post, rings right now so initially let's say you own a page in Facebook and you have let's say a million subscribers are the fans followers yes follow us through the page right so and you would put any let's say you are hosting a new event on that page and you would assume that your you know 100,000 followers would actually get that ping or the fact that little pops up in their feed but it doesn't happen a lot so now it's just less than 1% of your follower community there actually gets to know that something is happening on your page and for the rest of it Facebook, once you create a paid campaign so that's the same thing that that's the same model that Twitter's going after as well to tell essentially, is so people are very active on Twitter right you probably have got prompts from Twitter saying why don't you do a paid campaign around these messaging right.

So all of these social media companies have just slowly started trawling through millions and trillions of records that they have at the back end and they're figuring out these are prospective targets whom I can actually convert to a paid customer for me that's what's happening the background yeah so that's what's changed in the last couple of years from I think post-2010 as well right so we move on yes okay so why is socially important some of these stats that since he talks about that let's say you wanna buy a new phone you would obviously go to your any TV gadgets in GSM arena calm and figure out what are the best features of your 1 + 5 SS more - Z - right but you would trust the opinion of your best friend who's actually bought the mode of Z 2.

He's bought at home and is actually played on with it and then probably post it on your social media network saying okay I bought a new phone and this is what sucks oh this is what is good so in terms of influencing people I think you would believe your closest social network as opposed to a stranger or a critic review right so that's why social media is so important for a marketing point of view because as it's rightly said 3 times more likely to trust your opinions over advertising for purchasing conditions so which is why I think social media makes a very powerful channel for us as a marketer to go ahead and you know hit the right people in the right way what else we want to take what you take away from you right so the they follow up follow-ups for you as a marketers basically this right why do people buy now okay here I want to talk about the home you fear aware the the the typical purchasing funnel which looks like this so you must have gone through your marketing 101 classes alright.

Which talks about the idea channel did you learn the idea at all you must have gone through this funnel right which is the classic Ida channel which is awareness intent desire and action, like how to do somebody flow through this entire channel now in today's context this funnel at least stands wide purely because social media today think of it like this which is like an input the funnel is probably being supported and essentially it becomes I google for lack of a word let's put names to the site so essentially somebody has seen a newspaper that's the first touchpoint and then he goes to Google and then does a search and then he pops up on one of the Google search results then he goes to the website studies about the product that he wants to look at and then he logs out but a few days later he logs back into the internet and then he sees a display ID which actually talks about let me know these terms seem alien.

I can talk briefly about these terms and then one okay right so there are multiple touchpoints before somebody actually converts right so what does this mean for you as a marketing person and an analytics person so as an analytics person this problem typically is known as attribution problem so just a brief I know I'm digressing but I will come back to the topic as well right so attribution is senseless apart let's say you're and it's also called is classic the marketing mix model right mark and mix model is the marketing mix models so let's say you have 100 million dollars as an advertising budget and your CEO comes and tells you how do I best spend my hundred million dollars and the same essentially reaches out to the analytics team and says okay build me an attribution model that essentially helps me identify that social media has the highest influence in having driven purchase right so the attribution problem classically used to be dealt like this.

Let's say we had about so you understand you guys have got the situation as to what is happening right so the same guy has word at least seven or eight marketing channels marketing touch points before he converts but you need to figure out how much money do I spend on Google to make sure he sees the relevant ads how do i improve my website through an SEO or do i spend money on the Google Display Network Network so the system Olimpia retargeting all of you must have been targets of the retargeting you know exercise think about it you went to flip card and search for whatever a new product which is a Fitbit variable right and then you log out of Flipkart but you go to some other website and the display ad pops up on your side saying ok there is a discount on your Fitbit thing you write that so what is happening on the background is all of all of this websites are on the same Google Display Network right and they've all paid Google money to say that ok this is my prospective target if this guy comes up on your network or any other website please show him this target is our target area.

So that's a whole retargeting obviously simplified the process of retargeting there is a lot of programmatic math behind how do you read a retargeting but for the sake of simplifying things I'm doing that here so that that's your display ad so now coming back to the activation problem so the simplest way to solve activation problem is this III would attribute all my you know sale to just the first patch mind giving 0% to the rest of it saying that only he bought it purely because if this is obviously immunity contract but somebody bought product really because of search engine marketing right but today we use you know different, ok the simplest way to do this is build out a regression model which would essentially assign weights to the different channels from the money point of view that you spend on each channel.

Post a Comment

Please do not enter ant spam link in the comment box

Previous Post Next Post