6 TOP Marketing Metrics Every Brand Needs to Track

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.

What Are Those 'Marketing Metrics'?

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:

  1. I get 100 clicks and it cost 50 USD. Great! I have achieved my goal.
  2. I get 15 clicks and it cost 50 USD.  It is clear that I have not achieved my goal and I need to fix it. The solution could be to change a description or image.

Why are Social Media Metrics So Important?

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.

Common Mistakes

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.

Treating All Social Media Platforms the Same

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.


Focusing on Likes

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.

Measuring Everything

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.

Ignoring Analytics Completely

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.

Metrics to Focus On

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

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.

Leads

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

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.

Conversions

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.

Revenue

This is a monetary metric telling you, how much revenue your ad has generated. At the end of the day, this is what counts.

Return on Investment (ROI)

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.

Where to Start with Your Social Media Metrics

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.

Step 1: Define Your Goals

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:

  • Bring more people to my website
  • Increase views of my social media content
  • Other goals…?

Tip: We made an article about defining goals, where you can read all about the process behind it.

Step 2: Create a Set of Metrics

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?

Step 3: Measure

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.

Step 4: Monitor and Make Changes/Decisions

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. 

Ask yourself…

  • Did I achieve what I was expecting?
  • How are these metrics doing?
  • Am I missing something?

These questions will help you optimize your social media analytics process.

Beginner's guide
to facebook advertising

GET YOUR E-BOOK FOR FREE!
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Beginner's guide
to linkedin advertising

GET YOUR E-BOOK FOR FREE!
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Free revision of your marketing campaigns

request your free revision!
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
free webinar series! Facebook advertising tips & explanations

get exclusive invitation
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Continue reading

7 Key Instagram Stats & Demographics

There are more than 7 billion people on earth. And 1 billion of those people are on Instagram. That means every 7th person uses this visual-based social media network. Launched in 2010, and eventually bought in 2012 by Facebook (with more than 30 million users back then), Instagram offers a huge opportunity to connect with your current and potential customers, as well as, your followers and fans. The growth has been tremendous, which makes Instagram one of the most well-known and most widely-used social media platforms of all.


You already know that you can leverage any platform if you have a clear understanding of the audience you can reach there – and whether or not it aligns with your target audience… To find this out, let's jump into the key stats about Instagram and its users!

Read >>

5 Common Online Marketing Mistakes That Entrepreneurs Make

Do you want to squeeze more out of online marketing? That's always a good idea. Bear in mind these faults so your effort will not come in vain.

Avoid these 5 things that Entrepreneurs Make
Avoid these 5 things
Read >>

Show Others How Much Your Customers Love You (Leverage User Generated Content)

If you run a social media profile, you've probably thought of what to put on your content calendar. You want to create and publish something that truly brings value to your audience and resonates within them, right? User generated content can help you not just fill your content calendar, but truly bring something that gives a new perspective to your business. 


User generated content, as the name suggests, is content that is voluntarily created by your best customers – brand advocates – and shared so that their audience can see it. It is basically the best thing your customers can do for you – refer their friends to you/ share your product(s) or speak about your service(s)!


Imagine you are an owner of a gym that is visited by dozens of customers daily. What if some of them posted a photo to their social profile, exercising in your gym and saying something nice about your place. Wouldn't that be great? Could that bring you new customers? Absolutely.


79% of users say user generated content has a high impact on their purchasing behaviour. That simply underlines what we've stated earlier.


In 2014, Starbucks came up with a White Cup Contest which, guess what, is focused on user generated content… You can read more about the contest here. The only thing we will say is that they collected over 4,000 pieces of content! That just goes to show the true power of brand advocates. Your business can do that too – probably on a smaller scale, but you can. Remember that every one of your best customers can bring you another one. Your brand advocates grow as your business grows…


User-generated content brings in authenticity

If you say your product is the best, some people might believe you straightaway. But isn't that statement much stronger when made by someone who is already a loyal customer and has no other interest in regards to promoting your brand? User generated content brings true authenticity into your content and, thus, gives others another perspective of your business.


Social proof

People love seeing the product they aim to buy has great reviews! It gives them proof that their purchase won't be a mistake. Social proof – proof by someone other than the business itself – is a strong weapon and we encourage you to use it in your content calendar. Look at Amazon. Their products have thousands of reviews, which makes it far more valuable and far more worth it to buy for new customers.

Amazon reviews

Let us look at some other examples of great user generated content shared mainly on Instagram:

Get your audience on board. Talk to your best customers and motivate them to create a good product review, unboxing video or simply a happy picture while using your product or being at your cosy place (café, gym, etc…). Those who love your product will happily help you get it in front of other customers, trust me.


Micro Influencers

The use of influencers is a trend that has been here for some period of time. Brands work with people who gather an audience that fits their plan. Simple as that. They often collaborate with celebrities who are followed and trusted by millions of people, experts in a given industry, or gamers that record their gaming sessions. If you can find someone who has your target audience, team up!


The fact is that you don't have to work with widely known influencers, pop stars or famous athletes. Find so-called micro influencers who help you reach a smaller audience, but with higher precision. The cooperation won't cost you a fortune and results will follow, as well!


Micro influencers, in most cases, generate higher engagement with their audience and are more passionate about increasing their audience. If you start cooperating with them at the beginning of their journey, your business relationship can grow into something that constantly helps you achieve your business goals and to build a wider (and more relevant) audience.


The best collaborations, nonetheless, are the ones that are natural and not “too obvious”. Give some micro influencers in your surroundings your product, let them play with it and tell you whether they like it or not. Those who do are your best fit. They will happily (and naturally) promote your product within their audience.


In this post we've stressed the strength of your customer base and your audience – motivate them to tell the world about your stuff and let them bring you new business. Find new alliances with micro influencers, let them fall in love with your product and enjoy the fruits of your (hard) work!

Read >>

Instagram Content Tips For Real Estate In 2020

Did you sell a house? Tell people. It's not only a success, but also confirmation for others that you're an expert and can sell their properties.

Live stream house tours

You probably organize home tours. With a mobile phone, you can simply make a live stream through Instagram, in which you walk through the house, describe its advantages in your own words and show it to potential or current clients. The live stream, unlike a regular tour, reaches a larger number of people. Don't get me wrong, it is certainly not a substitute for real house tours. But it can help you reach people, who don't come, instead.

Live stream from the neighborhood

You will probably agree that the neighborhood of the house is one of the most important things to consider when buying a house. There is nothing easier than walking around with a phone in hand to show customers where the house is and what is nearby. Livestream that is done well can give them a real sense of the area.

Make quizzes and polls

It is a very simple and engaging thing you can do. Making quizzes and polls in Stories, or even as part of regular posts is a great way to increase engagement with people. 

Chat in Stories

Now you can add the Chat feature to your stories. It means that everyone can join a group and chat with you or other participants. You can use it as a weekly FAQ and for a limited time to answer your followers' questions. It's personal and engaging.

Share existing content

There is plenty of interesting content on Instagram. And this is an advantage for you, because you can easily share the posts you like and show your followers interesting content that they enjoy. Sharing others content and mentioning their accounts alo increases awareness of your account.

Interior tips

Give people tips and ideas for interior design. People like this type of content. Take advantage of existing Instagram content and just share it on your network.


Read >>

10 Facts to Know About Facebook Demographics & Stats

With 400 new users every 60 seconds, Facebook is not only the biggest social media platform, but it is continuously growing. Today, there are more than 2,4 billion users which is roughly 60% of all internet users. Nonetheless, some say its audience is getting older as younger internet users are getting excited about platforms like Instagram, TikTok or Snapchat. In this post, we will dig into the most important Facebook demographics and stats, so that you can get a better idea of who to target while creating your marketing persona and your plan on how to reach him or her.


Having a clear picture of how a channel grows is a key component to starting your marketing plan – promotion and content distribution. If you offer sneakers and target youngsters, relying solely on Facebook may not be the best tactic… Why? This audience is more likely to be found using social media platforms, such as Instagram or Tik Tok. Knowing your audience and stats behind the channels you want to use is crucial.


Let's finally dig into the most important Facebook demographics and stats!

Read >>

40+ Tools for Creating Visual Content on Social Media

It is well-known that visual content is the basis of success on social networks. It’s easier for users to consume pictures and videos, than text. It’s also more visible in a mess of other content. According to some studies, tweets with pictures receive up to 150% more retweets than plain text posts without pictures. So, it is clear that the importance of visual content is steadily increasing and you definitely shouldn't ignore it.


You don't have to worry, you don't need to hire expensive agencies right away. You don't even have to learn to work with complicated and expensive tools, like Photoshop. Fortunately, today there are plenty of free online and mobile apps available to create visual content in just a few clicks.


In this article we will introduce you to 40+ tools that are available on the internet for free. We use these tools on a daily basis, so we can highly recommend them.

Canva

By far the most famous online tool for creating all kinds of visuals, and not just for social media. Canva allows you to create literally everything you can think of — from nice Facebook covers to Instagram Stories to beautiful Infographics. You can choose from dozens of templates and it all works for web browsers or mobile apps.


Vizzlo

Whether you need a simple pie chart or a complex business graphic, Vizzlo's portfolio offers you a broad range of different visualization choices. It works for browsers and it is easy to use. You can enter your data using the simple sidebar, and then choose to import spreadsheets from Excel or Google Sheets. Add the result to your slides and documents or directly share it on all your social media channels.


Graphicriver

An endless collection of various templates, fonts, logos, flyers and much more. Graphicriver is where you can find ready-made graphic designs for almost any digital content. You don't need to hire an expensive agency and create all visuals and graphics from scratch. It is often enough to modify existing templates. This saves you not only a bunch of time, but also money, because the prices of the templates are very low.


Tip: If you are not familiar with editing graphics, try to outsource it via Fivver.


Landscape

Size matters! At least when it comes to social media. Landscape has hundreds of recommended dimensions, sizes and ratios across different platforms and devices. It is easy to get lost in these constantly changing numbers. So try to use Landscape by Sprout, it helps you resize multiple images for your profiles automatically.

Read >>