We have all been there- investing into an ad that simply does not convert! We spend hours trying to figure out where the pain point lies and NOT being able to get it right… Your goal, as a business owner or marketer, is to get the most out of the investment that you put into any marketing campaign, right? Marketers call it the ROAS – return on ad spend. We are lucky to cooperate with many businesses that continually generate revenue on Facebook and, thus, grow their business. Thanks to this valuable data, we are able to bring you the 7 Key Reasons Why Your Facebook Ads Don't Convert. Let's dive in!
Facebook (and other advertising platforms) allow you to optimise your campaign to truly achieve the goal you desire. Do you want to bring more people to your website? Cool. Facebook helps you with that. Do you want to sell more goods? Your choice, Facebook helps you optimise your campaign. This magic is called the Facebook delivery optimisation. Choose your goal and let Facebook make it happen.
This feature is available as part of the Facebook Business Manager. So what does it do? When you set your target audience (people who will see your ad), Facebook digs even deeper and specifies this audience to those who have a higher probability of completing the goal you chose.
Complicated? Okay, here's an example: Let's say that you target women who live in California and are older than 18 years. According to Facebook, there are 11,000,000 women that you can target.
If you wanted to reach as many people as possible, you'd choose the goal “Reach” or “Brand awareness”. In that case, Facebook would deliver your ad to everyone, depending on the size of your budget.
But say that you want to sell more goods or services. “Conversions” is the goal you'd pick.
Facebook collects more than 2 million signs of our behaviour and, thus, is able to predict which of us would interact with this type of ad and would then provide his or her contact information.
Based on this data, Facebook shows your ad to ONLY THOSE whose probability of completing your goal is higher. That's when the real optimisation comes in. And that's where you might make a HUGE mistake! Choosing the wrong objective (based on your goal) leads to an inefficient campaign. You need to know what your key goal is (what you expect from your campaign) and adjust the goal accordingly.
When we speak of conversions, the alpha and omega is your Facebook pixel. Facebook pixel, according to Hootsuite, “is code that you place on your website. It collects data that helps you track conversions from Facebook ads, optimize ads, build targeted audiences for future ads, and remarket to people who have already taken some kind of action on your website.”
Having said that, it is obvious that this code plays a very important role in your campaign optimisation. If you want to sell more goods or services, your conversion tracking needs to be set up properly. Because if it's not, Facebook gets fake signals and optimises your campaign according to that.
A typical example of a page where you want to track a conversion is a “thank you” page. Placing a code on this unique page where people land only after they complete a purchase, allows you to send a signal to Facebook about who completed a purchase. Based on that, Facebook knows who should receive your next ads!
⚡Note: You may want to send about 50 conversions a week to Facebook to have your conversion campaigns properly optimised.
There are some tools that help you set up and check whether your Facebook pixel works properly. One of them is, again, in Facebook Business Manager’s tab “Pixel” where you can generate your unique pixel and set up conversions. The other one is called a Facebook Pixel Helper (an extension) that helps you check your set up.
Content is the King indeed. Your technical set up can be great, but if your ad sucks, nothing will save you. Not paying attention to the content that users interact with will result in a low success rate. When it comes to creating an engaging ad, you need to know your audience perfectly. You should know their hidden values and beliefs and know exactly what tone of voice they'll connect with.
Headlines, the first thing your audience will read, are also a key component! We've written an article on how to write great headlines for your ad, make sure to check that out! Copy (text) is just one part of the ad – you may want to use a picture, video or a carousel (images combined or next to each other), as well.
The success of your ad truly depends on your creativity, ability to hire a photographer or make quality pictures or videos yourself and, of course, on the type of business you have. If you run a carpet cleaning business, a “before and after'' picture could work wonders for your ad campaign. On the other hand, if you sell properties, a carousel full of carefully curated images may be a better fit!
There are tons of options, but make sure to thoroughly pay attention to what you serve your potential customers…
So, you may be wondering, how can you check to see if your ad performs well? Look at your CTR (click-through rate). This metrics shows the engagement rate and guides you to either create a better version of the ad or stick with the current one. Here are some industry standards to get an idea of what numbers you can expect.
See for yourself. Which ad would catch your eye?
We shall not forget one of the key issues with any campaign you run – a wrongly defined target audience. If you don't properly define your target audience (your potential customers), don't recognize their values, beliefs, core demographic or behaviour data based on which you know them perfectly, you will not succeed.
Once again, why is knowing your audience so important? There are many reasons. When it comes solely to communication, knowing your audience is a key to:
If you define your target audience (or potential customers) incorrectly, nothing will save you (or your campaign).
The core question to ask is: WHERE does your conversion happen? In most cases it is the website. Knowing this fact and acting according to it can help you rapidly increase the efficiency of your campaign.
Let's look at an example: Say you want to sell more of the clothes that are listed on your website. You choose the right goal, set your target audience and create a great ad. Your campaign is up and running. When you come back to check on how your campaign is doing, you notice that it brought zero results (conversions). You keep asking yourself what the heck have you done wrong?! So you dig deeper…
Your campaign resulted in many clicks, but your website analytics says the opposite. Strange. Well, not really. The problem may lie exactly within your ad and your website. You can call the problem the load speed. According to Google, 53% of mobile website visitors will leave if a webpage doesn’t load within three seconds. That's more than half! In less than three seconds!
The page load speed can be included in UX (user experience). Wiki says, user experience (UX) is a person's emotions and attitudes about using a particular product, system or service. In other words, how the person feels when scrolling your website. Is the website optimised for mobile? Is it easy to understand? Can the user find all the relevant information he or she needs? If not, you have a problem- a problem that will ultimately affect your campaigns.
⚡Note: You can check how fast your website loads here.
If you're interested in checking out inspiration on how to create a great converting website or landing page, check this article by Hubspot. There are already plenty of studies and examples that show you how to get started – without having to reinvent the wheel. Besides that, go and check out your competitors. You may find tons of valuable examples (both positive and negative) there.
Sure, your conversion may not only happen on your website. In that case, you can use other sources like native lead generation forms directly within Facebook or LinkedIn and you won't suffer from this issue at all – lucky you!
Online marketing is a lot about trial and error. Sometimes you simply have to test to see what works the best. Luckily, you can get this data pretty quickly and for only a few dollars. To test the best performing picture, headline, subheadline, target audience's age or interests, best-converting landing page or anything else, run AB tests! Always, always, always test! Once you can get a significant amount of data (example: more than 1,000 people reached – which can cost you less than 20 dollars), you will realize that AB tests are a must.
All advertising platforms allow you to create more than one version of the campaign EXACTLY so that you can find out which version is the best. Leverage this feature for your benefit. Come up with relevant hypotheses and test them against each other!
There can be a case where you run a Facebook campaign, you make sure that everything is right (on your side) and still find out that the desired results don't show up! Frustrating, I know. There is another reason (or a group of reasons) your ad is not performing well. That is due to a non-existing market, a market that is not ready for your product or service yet.
Say you sell rockets that allow individuals to fly to space on their own. Human beings may soon be discovering space like they never did before. The future is coming, but we may not be there today. If Tesla had sold their cars fifteen years back, they wouldn't have found any demand.
The same may apply to your product or service. Make sure to do thorough research on how your market behaves. Check to see if people are already aware of the problem you solve and if they search for the solution you offer. This fact, even though it may not seem so, directly affects your marketing campaigns.
It's possible that you may create (and sell) something no one wants. And that they will never want to buy. You are trying to create a market that simply does not exist. That can be very tricky as you can easily find yourself in so-called innovator’s bias. In that case, your ads won't work too – obviously as there is no one who would want to buy.
“Innovation bias is the belief that an innovation should be adopted by the whole society without the need of its alteration. The innovation's "champion" has such a strong bias in favor of the innovation, that he or she may not see its limitations or weaknesses and continues to promote it nonetheless.” WIkipedia
What to do with your non-performing ads? That's, of course, the question you probably have in your mind.
We recommend you watch your campaign thoroughly, evaluate its results on a regular basis and learn to specify WHERE the problem lies. We've given you a plethora of tools to check your website speed, Facebook pixel set up and we will leave you with few more.
If you're wondering how to write a text that converts, check this article. Besides that, you may be interested in learning about easy-to-use tools to create an engaging image, video or carousel, right? We have that covered for you too: check this great article on 40+ tools for creating visual content on social media.
Lastly, we recommend you try to run your campaign on our tool that gives you personalised recommendations on how to continually improve your campaign.
Are you using Instagram to attract qualified real estate leads? Or are you merely relying on Facebook?
Things changed in the last years and social media platforms as well. Instagram is one of the platforms that has grown dramatically in the last decade. In the beginning of 2012 it started with “just” 15 million users. After 8 years the user base grew to over 1 billion in 2020. Not just these numbers is a reason to consider using Instagram in your business.
In most of 2019, almost forty percent of adults were on Instagram. This number will grow rapidly in the next few years, so it makes IG a great place to reach your potential clients.
Instagram is based on connecting people. It is therefore, very easy to communicate directly with your followers or even potential customers, whether publicly in comments or in private messages. In addition, the Instagram application is very well optimised, so it is comfortable and easy for the person on the other side of your communication.
Instagram is based on visual content. People like it and spend a lot of their time looking at a variety of photos, pictures and videos. Embrace it when you have something to show. Photos of houses are very popular on Instagram and this is a huge opportunity for you! Show the properties you are currently offering.
Instagram is an engagement powerhouse. Brands see 10x higher engagement here than they do on Facebook. It's because the interaction with the content on instagram is much more natural and convenient for users.
When you offer your services on Zillow, Realtor, or Trulia, you compete with almost all real estate agents. On the other hand, according to FitSmallBusiness.com, only 14% of agents are on Instagram. It gives you a big advantage. Up to 83% of buyers want to see pictures of properties online.
Instagram is a part of Facebook. It brings great advantages. Via Facebook Business Manager, you can publish ads on Instagram with very precise targeting. This allows you to reach potential customers using a number of parameters, such as where they live or even whether they are considering buying property. If you are not sure about the Business Manager, try our groost app, that simplifies the whole process to just 7 steps.
Essentially, hashtags are an SEO on Instagram. It is a tag in the description of your post and it allows users who are not following you, to find your content and, hopefully, follow you. Basically, you have two types of hashtags, global and local. Local hashtags are best if you are running a business account or have a physical location and want to promote locally.
From the very beginning, Instagram was designed to publish visual content. With the official mobile app, it's very easy and fast. You have a variety of tools to edit your photos and videos on the go.
Live streams are becoming more and more popular. It turns out, according to this study, that up to 82% percent of people prefer live videos compared to social media posts. And 80% of users would rather watch live videos from a brand than read a blog. Because it is honest and authentic. Take this opportunity to present the property you are currently selling.
On Instagram, you have basically 2 types of profiles. Personal and Business. The business one offers you more features that are essential for your business. One of the features is called Insights. You can see several charts and numbers here and use this to analyse your audience to find out what is and isn't working.
In the end, Instagram is a free platform. Anyone can use its features for free and that is the reason why Instagram has over 111 million active users in the U.S. alone.
What to say at the end? Instagram is apparently a platform that you shouldn't ignore in 2020. It has many benefits for your business and its influence will grow.
Most people have been through the struggle and know how you feel or have felt when writing a piece of content for Facebook, “What text am I supposed to put here?”, “Is this gonna work?”, “Is this too informal?” Writing an engaging post on Facebook – for your business page, as this is what I will be talking about here (not your personal page where you know perfectly who you represent and what tone of voice to use) – can be challenging. You are trying to get the customer's attention, arouse a reaction and avoid ignorance...
How do you write posts that simply can't be ignored? This is what we will explore in the following 5 tips. Keep in mind, that before you write or produce ANY PIECE OF CONTENT, have your targeted audience in mind. What will be appealing to them? What tone of voice should you use? These are some of the questions that you need to answer.
So, let's dive into 5 tips, so that you know how to become your own best-in-class copywriter. Oh, or not yet… I probably did not stress enough how important it is to catch one's attention! So let's take one step back…
The 21st century offers almost unlimited ways to reach out to your desired audience, your potential or current customers. And that's the problem. There are many ways, many advertisers, businesses (like yours) targeting an audience that has its limits. Especially when it comes to attention span. The more stories we tell and the more frequently we are trying to tell them, the less time we have to draw our audience's attention.
8 seconds per one piece of content is on average the time span of a person spending time on social media (by the research conducted by Microsoft). In 2000, it was 12 seconds which only shows how rapidly the span decreases. For some of the placements, like Instastories, it is even less – around 3 seconds. That being said, you truly have to catch the eye or remain ignored…
Luckily, I am about to share some tips for you. If you follow them, your chances will increase!
The user's desire. That is your Holy Grail around which your activities should be tied. When you create a copy, make sure to address it. No one is interested in “just another product”. Need or desires to be addressed first, product/ offer comes afterwards…
Don't speak about yourself. With all due respect, no one is interested (unless you own a big and known brand). Bring your audience into your text, speak about them, use words like “you”, use questions to draw the attention, have a dialogue rather than a monologue...
Everyone has them. Values, beliefs and roles we play or want to play in our lives- we rarely speak about them, but have them in mind every time we make a choice when picking your best suit for a date or arriving at a business meeting in your luxury car. Apple is great at attracting our values and beliefs. Is it a piece of hardware, a PC or mobile phone, or rather something else that increases your status in other people's eyes? The answer is clear, I believe… Be Apple. Leverage on these values and beliefs when describing your offer or when designing a catchy headline.
Note: I do not encourage you to be manipulative. If you cannot help your customers with your product, if you truly cannot satisfy their needs and make their desires come true, stop reading this article, please. But if you and your product can help customers, feel free to show it…
When creating a FB post, there are certain platforms for which you create the copy. Mostly, it is the text above the picture or video, or a headline that occupies the largest place accompanied by a description. There are few models (continue reading) that – if used well – can help you draw the user's attention more effectively. Follow them and…
I know. This has been said thousands of times. But how many of you run AB testing every time you create an ad? Do you think thoroughly before creating the second version that is the copy or do you follow the kind of approach: “Oh, I should do a second version… Let me change one word here… and that's it! I will run the AB test now!”
Testing is the only right tactic to find out what resonates most within your audience. Who does not test, pretends to predict the future or relies on her thoughts…
I promised to present you some models, structures you can follow to create outstanding Facebook posts. Here you go…
But let us first showcase what a Facebook post usually looks like:
Ask a question in the text section, answer it (by offering your product, service), use call to action in the headline and add a proof that your solution works (testimonials, number of users, …) in the description section. This model works best if your audience already faces the issue you aim to fix or a desire you aim to satisfy.
Make the reader feel like you are reading her thoughts when reading the text. Make her feel completely identified with what you write there. Use a combination of short stories and metaphors. After she feels like she just read her life's story, make her complete the action in the headline – offer a way out, a way to improve, a way to get what she desires. In the description, use a sense of urgency. There is something called FOMO (Fear of Missing Out) that drives people crazy (make sure to read the article after completing this one).
Try to invent your method of approaching your audience in a way that simply cannot be ignored! There are many approaches that can be followed. Go out with your copy, test it and let me know on my LinkedIn profile what worked for you!
Note: The structure text, headline and description applies for posts that contain a link. If you share a picture, text is the only editable section. Similar rules apply in that case.
Here are some of the posts that were created in a really smart way:
After your post has been published, make sure to check the results! This may seem like a no-brainer, but not everyone is checking how well the content performs. Do not be one of them. Measure and build on what works. Facebook allows you to see the engagement rate (percentage of people who interacted with your posts divided by the number of people reached) in the Insights tab. The higher the engagement rate, the better your post has resonated within your fan base.
You have been given very concrete instructions on how to write an outstanding Facebook post. Keep in mind this is a lot about testing and finding what works for your business. There are, nonetheless, some rules that haven't been mentioned yet:
You, as an SMB owner, have a bunch of daily sales and marketing tasks you are probably facing every day, right? With these tips we will help you save some time.
AI, Chatbots, Blockchain, self-driving cars, cloud-computing... You have probably heard of all of those, right? Do these terms represent trend or a hype? What is the actual difference between those two words? And are they important for you, as an entrepreneur who's just getting started? These are probably the questions that jump to your mind when hearing these buzzwords.
There is a HUGE difference between what stays and what doesn't. In other words, not everything will stick and change our behaviour. This is how we can define our keyword, trend: as a change in the behaviour, habits or ways in which things work. It is a constant change. Let me explain trend in a graph, as I am a visual learner and a numbers freak…
On the contrary, hype is something that simply occurs and fades away… without any lasting impact. If I spoke in graphs, hype would look like this:
When the terms are clarified, let us look at the history and point out some of the trends and hypes we, as humans on this earth, have been through…
Presented by Diner's Club, the very first universal credit card came to use and was accepted by some establishments. Had it been just a hype, no one would be using credit cards today… Non-cash payment instruments play a huge role in our lives today – this trend changed our behaviour for good.
Now, imagine a bank not issuing a credit or debit card after opening an account – a business that did not catch the trend. This bank would for sure not survive in today's world…
… and changed the way we travel, transport ourselves and purchase goods. Startups like AirBnB or Uber have shown us there is a new way of ordering a taxi or renting a flat for a few nights. Have classic taxi companies had to react to this change? You bet they have!
You can probably guess where this is heading. There are a plethora of examples of trends that have changed our lives. These are real changes that – if businesses ignored them – could be very harmful...
Here we go. 2019 and podcasts, home voice assistants, voice search, voice order and – you nailed it – everything that has something to do with voice is slowly changing the way we behave. Is this something you should keep an eye on? I believe so. Is this something that is about to change / threaten / boost your business? That truly depends on your business industry and approach.
On the contrary, hype can calmly be ignored (or shortly leveraged). Do you remember the Bitcoin bubble in late 2017?
If not, let me briefly explain. Bitcoin is a cryptocurrency that was invented in January 2009 by Satoshi Nakamoto. Its price has been slowly rising since then, and in 2017, one Bitcoin was worth around 20,000 USD. With no real value behind it! In other words, so much money was invested in this currency that the price rose rapidly. An easy economic rule: when the demand rises (while the offer is limited), the price goes up. But what is crucial, is the value behind it. There was no value at all. And in January 2018...BOOM!
Identifying hype and trend can be crucial for the survival of your business. But no one really tells you how to get started. Well… saying that there is a manual would mean there is a way to predict the future.
But there are some ways to prepare yourself. As Gartner puts it: “Three key factors will ultimately enable you to identify the potential impact of a particular technology trend on people, business, IT and the technology market:
Yes, you have to know your business and industry perfectly in order to answer those questions. If you decide to simply ignore everything that goes around you, you may get kicked out of business soon… But if you learn, build on your knowledge and keep an eye on the current trends & hypes (as you may not recognize them at the beginning), your chances will rise.
Build on your knowledge. Do not pay attention to what does not affect your business, but be aware of something that does…
We at groost.com are leveraging online advertising for small businesses, which has shown to be a strong trend that is here to change many industries. In 2018, for the very first time, 50 % of the world's population was online. Never before has the percentage of people with access to the internet been so high. And guess what… The number is rising. Is this a trend or a hype? You are now able to answer the question for yourself.
Are you up to date with what's on trend for 2019? Check the Gartner's research here: https://www.gartner.com/smarterwithgartner/5-trends-appear-on-the-gartner-hype-cycle-for-emerging-technologies-2019
Instagram, one of the most famous social media platforms based mainly on visuals, is currently used by more than one billion users and the number is only growing. That, needless to say, represents a great opportunity to reach the audience you haven't reached yet. One of your marketing goals might be to generate quality leads and Instagram may be the channel you want to use. Now the key question is how to effectively leverage this platform so that you generate valuable leads at a reasonable cost. There are ways.
First of all, you need to consider if Instagram is a channel for you and your type of business. If you can't think of a way to showcase your products or services, show your personal story or share something from “behind the scenes” in a VISUAL way, Instagram may not be a good fit for you. Similarly, if your audience is not present on Instagram, consider other channels for your communication mix. Try to look deeper into LinkedIn or Facebook which represent opportunities to generate leads too.
On the other hand, if you figure out a way to leverage its visual style, Instagram is a great fit for connecting your potential customers with your brand. 62% of people say they have become more interested in a brand or product after seeing it in Stories. That's just one placement. If you effectively leverage all of what Instagram offers, people will love you (and your brand).
Let's finally jump straight into ways to effectively generate more quality leads through Instagram!
There are hundreds of metrics you can measure today. That's the biggest advantage, as well as, disadvantage of digital marketing.
The truth is you can measure almost anything. You can build a detailed report with real time data, refresh and make those business decisions based on precise data, visualize insights in all those bar charts, funnels, pie charts, cohorts, heat maps, numbers, percentages, etc. That's what the theory is about.
And I partially agree with that, but the reality may be a bit different. Yes, this is important for large companies that, thanks to comprehensive measurements and reports, can optimize their processes and save a significant amount of money.
However, at the SMB level, the situation is quite different. You probably don't have an IT department full of specialists and data analysts who are able to invest hundreds of hours to set up your data platform, connect dozens of data sources, transform the given data and from that, build strong reports. Also, you probably don't deal with a billion dollars in revenue, so sophisticated analytics can be counterproductive because you don't have enough quality and precise data to optimize individual processes and earn a significant savings.
I'm not trying to say that you should completely ignore data analytics. Rather, it is about finding the right balance between not getting overwhelmed with data and gaining valuable insights that can help your business.
In this article, I’ll cover the most important metrics that actually give you valuable insights into your business and online marketing efforts. At the same time, I will highlight the metrics that are less effective and easy to misinterpret.
Klipfolio, an analytics tool, says: Marketing Metrics are measurable values used by marketing teams to demonstrate the effectiveness of campaigns across all marketing channels.
Sounds a bit complicated, but in other words, marketing metrics are numbers that tell you how effective your marketing efforts are. You set a goal, and your metrics tell you, whether you have achieved it or not. Based on this you can make a change and try a different approach.
Example: My goal is to get 100 website visits per 50 USD invested in Facebook ads. My metric in this case is Clicks. Two scenarios could take place:
Metrics can tell you, how effective your efforts are and help you to make changes before you spend hundreds of dollars.
Digital marketing is unpredictable, and a strategy that worked well the last couple of months could eventually become less effective or stop working entirely. Metrics tell you immediately if your efforts are paying off.
Setting the wrong goals and misinterpreting engagement metrics is pretty rife. Let's check out some common scenarios. Maybe you will even spot some of your own mistakes.
You probably wouldn't speak English in Portugal. The same principle applies when it comes to social media. Every platform works in a slightly different way, has a different user base, and people behave differently. Your message shouldn't be the same for all platforms. We wrote an article about demographics and the specifics of individual social media networks, so make sure you read it to understand how all those platforms work and what makes each one different.
Tip: You don't have to be a marketing PRO to master campaigns across multiple channels. Try tools like groost that simplify this process.
I'm not saying that likes are not important. But in and of itself, they mean nothing. Nowadays, it is possible to buy likes for posts or a page for a few dollars, but it doesn't help your business at all. It usually does the opposite. It is necessary to look at the number of likes in context of the given situation.
You can measure almost anything you can think of and probably much more. I understand the allure of this idea, because in the beginning it sounds amazing…the theory about having precise real time data on a beautiful dashboard... but reality is usually different. In most cases, you can end up with an over-complex dashboard where you could easily get lost. It takes a great deal of time and energy to make this work.
The extreme opposite of measuring everything is measuring nothing. With the vast amount of information around us, it's understandable that one would just want to ignore everything. But with this approach, you are probably losing your money and throwing its potential out of the window. You can't tell if your spending on social media advertising is effective or if you are losing money, if you're not analyzing what is working vs. what is not. You don't need a complex dashboard with many metrics to keep proper tabs on this.
You know it already, there are hundreds of metrics out there. But you should focus on those that are most important for you and your business. From our perspective, these are the ones which you should be keeping track of:
Reach tells you, how many people were able to see your content. It doesn't mean real views, rather it refers to potential views. If someone with 1,000 followers retweets your tweet, your reach increases by those 1,000 different people, but not every single one of those people may see it.
A higher reach is better, but if you don't get enough leads or engagement, something could be wrong.
This metric tells you, how many direct contacts you got. A lead is a person or even a company that is ready for a follow-up. This person has usually reached a stage where they are ready to become your customer.
Engagement measures the amount of likes, shares and comments your content or ad received. This metric tells you, how much your content is resonating with your followers. It's an important metric to check when optimizing your content strategy.
The engagement rate is influenced by many factors like platform, number of followers, industry, time of posting, etc.
Tip: See our article on What to Expect from Social Media.
This metric is an exact number of how many people targeted, eventually became paying customers. Remember, that this isn't just about this exact number. It has to be compared with the Conversion Rate, which is a percentage metric that shows you a ratio between visitors and converted customers.
Conversion rate may vary across industries and required action.
Tip: See our article on What to Expect from Social Media.
This is a monetary metric telling you, how much revenue your ad has generated. At the end of the day, this is what counts.
ROI demonstrates how your marketing time, energy and money spent are contributing to your company growth. You always have to know how much money you spent on advertising and how much money it has brought. It tells you, if and how effective your advertising efforts are.
ROI (%) = (income/spend)*100
Your ROI should always be higher than 100%, otherwise a given strategy was ultimately, a waste of money.
Well, now you should understand the basics of Social Media Metrics. But the most important thing to understand is how to implement metrics in real-life scenarios. These are 4 steps to successfully start your measurements.
In the beginning, find some time to write down your goals. All social media platforms could be used in many ways. What do you want to accomplish? The more specific you can be, the better.
Here is a list of examples to help you brainstorm:
Tip: We made an article about defining goals, where you can read all about the process behind it.
The next step is to understand which metrics to use, to see if you are achieving your goals or not. This process is quite easy. Basically you are trying to find those numbers, so you can recognize how effective your efforts are. Your goal should fit into the following categories:
Awareness – Use metrics like volume, reach, exposure, and amplification. How far is your message spreading?
Engagement – Look for metrics around retweets, comments, replies, and participants. How many people are participating, how often are they participating, and in what forms are they participating?
Traffic – Track URL shares, clicks and conversions. Are people moving through social media to your external site and what do they do once they’re on your site?
Advocates and fans – Track contributors and influencers. Who is participating and what kind of impact do they have?
Share of voice – Track your volume relative to your closest competitors. How much of the overall conversation around your industry or product category is about your brand?
Social media platforms usually do provide some basic analytics. For most cases it's enough, so if you're new to analytics, start small. In our case, we built groost. analytics right inside the app.
Tip: If you want to see groost in action, sign up here for free.
Keep in mind that social media interactions happen in real time. Look for a tool that allows you to access data immediately, without delay. You can't afford to wait weeks or even days for a report. Having real time data allows you to react and make quick changes, in order to stay effective.
To make all previous steps valuable, take a data-based action. Don't forget to see data in a wider context and compare it with industry benchmarks.
These questions will help you optimize your social media analytics process.