And then a blogger writes about your widgets. You're probably already measuring the impact bloggers and social media have on your brand, right?
Here's what you learn:
- 500 individuals visit your website, with a referring URL from the blogger. 10% of those visitors purchase something, 50 in total, spending $200 each, for a total of $10,000.
- 10 bloggers link to the blogger who wrote the original article. Another 500 individuals visit your website with referring URLs from these ten bloggers. 5% buy something, 25 in total, spending $200 each, for a total of $5,000.
- Total sales = $15,000.
- Total gross margin = $7,500.
- Total contribution = $6,000.
How do you, the executive of this brand, measure the lifetime value of a positive blogger? Do you choose to reward the blogger for her efforts, and if so, how?