defining your association value

Gregory Wright@G_J_W

June 18, 201411:45 AM - 12:15 PM

#MMCCon EW2

Defining YourAssociation Value

Social Media

#MMCCon EW2

• What is the value of a follower/fan/like?

• What is member engagement?

• How do I measure member engagement?

• Where do revenue generating activities come into play?

• What does all this mean?

#MMCCon EW2

Track Product Sales

• Track conversion• What drove members

to buy a product?• Append a code to

product URL– IBM Digital Analytics

(Coremetrics)– Google Analytics– Ecommerce platform

#MMCCon EW2

http://www.cpa2biz.com/AST/Main/CPA2BIZ_Primary/PersonalFinancialPlanning/PRDOVR~PC-PPF1404/PC-PPF1404.jsp ?cm_mmc_o=dzgw_BBLCjC5A_kbgzfbBECjCnivSixCjCVVdvSiS• Vendor• Category• Placement• Date• Item Name

#MMCCon EW2

Define the Value of Your Likes

1. Total your revenue from Facebook

2. Divide by number of “Likes”

3. Equals the value of a Facebook “Like”

$50,000 (annual revenue)/ 25,000 (“Likes”)=$2.00 (value of a “Like”)

#MMCCon EW2

• Wouldn’t it be great if every “like” meant an engaged member?

• But what is engagement?

Other Digital Content

#MMCCon EW2

• What is the value of a visitor?

• What is member engagement?

• How do I measure member engagement?

• Where do revenue generating activities come into play?

• What does all this mean?

#MMCCon EW2

Track Product Sales

• Track conversion• What drove members

to buy a product?• Append a code to

product URL– IBM Digital Analytics

(Coremetrics)– Google Analytics– Ecommerce platform

#MMCCon EW2

http://www.cpa2biz.com/AST/Main/CPA2BIZ_Primary/PersonalFinancialPlanning/PRDOVR~PC-PPF1404/PC-PPF1404.jsp ?cm_mmc_o=dzgw_BBLCjC5A_kbgzfbBECjCnivSixCjCVVdvSiS• Vendor• Category• Placement• Date• Item Name

#MMCCon EW2

Define the Value of Your Likes

1. Total your revenue from website

2. Divide by number of unique visitors

3. Equals the value of an unique visitor

$5,000,000 (annual revenue)/ 300,000 (unique visitors)=$16.67 (value of a visitor)

#MMCCon EW2

• Wouldn’t it be great if every visitor meant an engaged member?

• But what is engagement?

E-Newsletters

#MMCCon EW2

• What is the value of a subscriber?

• What is member engagement?

• How do I measure member engagement?

• Where do revenue generating activities come into play?

• What does all this mean?

#MMCCon EW2

Track Product Sales

• Track conversion• What drove members

to buy a product?• Append a code to

product URL– IBM Digital Analytics

(Coremetrics)– Google Analytics– Ecommerce platform

#MMCCon EW2

http://www.cpa2biz.com/AST/Main/CPA2BIZ_Primary/PersonalFinancialPlanning/PRDOVR~PC-PPF1404/PC-PPF1404.jsp ?cm_mmc_o=dzgw_BBLCjC5A_kbgzfbBECjCnivSixCjCVVdvSiS• Vendor• Category• Placement• Date• Item Name

#MMCCon EW2

Define the Value of Your Subscribers

1. Total your revenue, including ad sales

2. Divide by number of subscribers

3. Equals the value of a subscriber

$1,000,000 (annual revenue)/ 400,000 (subscribers)=$2.50 (value of a subscriber)

#MMCCon EW2

• Wouldn’t it be great if every subscriber was engaged?

• But what is engagement?

Defining Engagement

#MMCCon EW2

Define Engagement

• Engagement is…– NOT auto opt in/ passive user– actively engaged– more likely to purchase product / click a link

• Identify corresponding metrics…– Open rate?– Clickthrough rate?– Product conversion rate?

#MMCCon EW2

Calculate the Value of Engagement

0.30 (open rate)X 400,000 (subscribers)= 120,000 (active subscribers)

$1,000,000 (total revenue)/ 120,000= $8.33 (value of an active subscriber)

#MMCCon EW2

Now What?

• Cost per active subscriber acquisition• PPC/CPA ads • Marketing campaign– Direct mail– Trial campaigns– Banner ads in other newsletters

• Apply to all communications– Social media– E-newsletters– Web content

#MMCCon EW2

Contact MeGregory Wright

Communications ManagerAmerican Institute of CPAs

gwright@aicpa.org

@G_J_Wslideshare.net/daspion

youtube.com/user/lxa1801