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.
Have you already come across social media posts tagged with “Sponsored”? Do you wonder what they mean and on which principle they work? Good question! An even better one would be, how can these posts help you reach way more people than you do with your organic posts – the ones that you publish on your social media timeline? In today's post, we will uncover not just that, but also concrete steps to get started!
Truth be told, you can use these types of posts to reach many more people than you do today…
But before we jump into what a sponsored post means, let's look at what it doesn't. Say that you run an Instagram profile and add posts to your profile. So do we. This is what it looks like:
These posts are the ones that appear on your social media profile and most importantly, on the feed of your followers and friends. The ratio between the number of people you reached with your posts and the total number of followers is your ORGANIC REACH. The more people who follow your profile, the more people you can reach with every one of your social media posts. Therefore, it is important to build your audience.
But what if you want to reach more people? What if you want to expand your reach to someone who hasn't liked your page yet? Both answers will be clarified, go ahead and continue reading...
In regards to the organic reach, we have to tell you the cruel truth. The organic reach is constantly decreasing. What that means for you, is that you no longer reach the same number of people as you did before.
We have covered this topic more thoroughly in this article, but to point out the importance of this decrease, see the graph below:
From 2012 to 2016, the organic reach on Facebook has sunk to almost zero…
Let's do some math to understand it perfectly. Say your page or profile has 10,000 followers. Due to the organic reach decline, your organic posts may reach between 300 and 800 people based on its performance – making your organic reach between 3% to 8%. Now the chance that some of these 300 to 800 people interact with your content is way lower than if you reached 3,000 to 8,000 people (call me captain obvious). It may sound logical and totally clear, but ignoring this fact and relying solely on your organic reach may cost you your share of voice or market share. In other words, you may lose your followers, fans and customers if you don't act.
Now that we've come through what organic posts mean, let's finally clarify what these “sponsored” posts are that serve you targeted content on your social media feed…
Refresh your Facebook or Instagram feed and scroll for a few seconds… Stop, there it is! A post that looks like any other one with one small difference. It is tagged with “Sponsored” in the upper part. Can you see it?
You will find plenty of these on your feed. And most of them will be perfectly targeted at you – based on your interests and preferences. Now the key is to leverage this feature for you and your business, isn't it?
Let's dive into how this sponsored content works. Facebook, Instagram, LinkedIn, Twitter, Tik Tok and other social media platforms allow you to run ads through their advertising interfaces. You sign up, learn how the platforms work and jump straight into promoting your content. These interfaces – let's call them the Campaign Manager Accounts for now – remain unknown to “ordinary” users. It's all the magic that “happens in the background”.
Let's take Facebook as an example. Say I want to promote our post that has been (organically) published on our timeline:
Organically we didn't reach as many people as we'd like to. Let's promote the post then…
Either in Facebook Business Manager or tools like our own app, you can follow a few steps and create your campaign – sponsor a post. By defining your goal, marketing persona, budget and message, you can expand your reach and speak to people that have never heard of your business before or show your content to followers you'd not have been able to reach organically.
Going back to our example, let's say that we want to target small business owners in California. According to data from Facebook, we could reach 290,000 people, respectively 277 to 800 people a day for less than $10 a day.
Yes, promoted posts are about investing something into expanding your reach. But as you see, you don't have to sit on millions of dollars in marketing budget to speak to more potential customers than you probably do today. You don't even have to sit on hundreds of dollars to achieve your goal of reaching more people…
Not to say that when they purchase from you, your investment is back – with interests (or margin:)
This is what the set up would look like...
With only a few clicks – in case you use tools that simplify this process – you are able to start your campaign (sponsored post).
The best thing is, that you target your posts solely at people who are relevant to your business. In other words, you tailor your content to people that can become your customers, followers or fans.
Say you run an eshop with accessories. You sell watches, necklaces, small pieces of clothes, rings and other goods. You have two types of products: those made for men and those made for women.
You manage your Instagram profile and post content about your customers’ satisfaction (reviews), newest pieces of clothes and inspiration as to how they fit with other outfits. This content can be interesting for both men and women. But what if you want to run a campaign targeted solely at men with the goal of selling all the men's watches that have been sitting in stock for a long time? That's when the sponsored post comes into play…
The process has already been described: you define your goal (sell more watches), marketing persona (men in California between 25 and 45 years old, interested in fashion), choose which channel you want this post to appear on (Instagram), set your budget and campaign length ($5 a day for 7 days) and finally, create your great content – the ad that your potential customer sees on his feed. Say your post looks something like this:
Thanks to this campaign (while using the setting in the brackets), you are able to reach more than 7,000 people. And you've invested $35 in total. Awesome, isn't it?
Is this the only option to increase your organic reach, you may ask? It's definitely not. Marketing is all about synergy. You may want to combine more tactics to achieve the best results.
Let's go through some tips & tricks that can work perfectly with (or without) promoting your posts.
Again, this may sound obvious, but is not always completely understood. Creating super engaging content comes first, along with understanding your audience! If you don't know who you're talking to, your speech can never really resonate, right?
It's like in life. Imagine you go on a date with a pretty and intelligent woman who is into fashion and yoga. You spend the whole time speaking about the Super Bowl! How would that date end? You probably know the answer...
The same applies to your social media profiles and any content that you publish. If you create something that no one's interested in, you decrease not just your reach, but also engagement.
Start with defining your marketing persona and create content that they find interesting, educating, funny or shocking – anything that goes with your brand.
If you do so, your followers will like, comment, share and recommend your content and products. Thus, you can leverage the real power of social media: the snowball effect that happens once people share your content.
Let me share one secret with you. Your followers are not only on Facebook or Instagram. They also use other platforms like Youtube, Pinterest, LInkedIn or Tik Tok. In fact, an average American Internet user has more than 7 social media accounts. That being said, you should definitely leverage the potential to reach your audience where they are (and where your competitors probably aren't… yet).
Platforms like LinkedIn or Tik Tok have a much higher organic reach now. They are where Facebook was a few years ago. That may change as they grow and decide to monetize their audience, but till then, you can build your follower base and successfully grow your business! Go for it...
Are you also suffering from a continuous decrease in organic reach? Do you reach less people than you'd like to? Try some of these tactics and let us know how it has helped :)
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…
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.
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.
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.
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!
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!
You are probably on a path to choose the best marketing automation software for your business. In our latest post, we've covered all you need to know about marketing automation when you are a small business owner. Automation is a trend. And every small business can embrace this – it's not just a game for the big players. In order to choose the right tool, there are some things to keep in mind. There is not just one category of automation tools. Some help enterprises with their robust database and multi-channel campaign orchestration, others help small businesses get rid of the daily marketing routine. Let's dig into the 5 features you'd expect to find in your perfect marketing automation software solution.
If you're wondering where you can get your articles published, so that it reaches a broader audience, we have great news for you: LinkedIn allows you to create and publish articles natively on their platform. Not only can you leverage the wide user base that LinkedIn has, but you can also use their analytics to see how your posts perform.
Like Facebook did with Instant articles, LinkedIn has switched from being a solely networking-based platform, focused on professionals, to a content-based platform that allows its user to educate themselves while spending time on their platform. That's also what both LinkedIn and Facebook (amongst other platforms) desire – to keep you, me and other users on their platform for as long as they can.
Does this feature represent the potential for you to share your knowledge among other people? You bet it does - if “done well”. Let's jump right into how you can publish articles natively on LinkedIn like a pro.
To get started, click the “Write an article” button. Can’t find it? It's right there, have a look:
Isn't this one of the features that has been in front of your eyes the whole time, but remained undiscovered?
Once you hit the button, magic happens. You are redirected to an interface where you can create your native LinkedIn article. Having said that, you can now configure the content: add a headline, background image, write the article, add engaging or educating infographics or other visuals and finally, publish!
We won't leave you without any tips and tricks to get started (just keep reading), but we recommend you play around with this feature to get a better idea of what all you can do.
Let’s be honest — some online ads simply don’t work. At least we think that they don’t. Or better put, we judge them before knowing the real reason they don’t… Now, there are almost unlimited ways to reach your target audience on the internet: targeting people who search on Google with your search ad, capturing people’s attention with your promoted social media post, direct messaging on LinkedIn or creating a short video on Youtube. There are many channels and many types of ads that can use to target your potential customers.
But why the heck don’t they work for you? Many businesses have rapidly grown thanks to online advertising and yours hasn’t. What is it that makes your campaign inefficient?
First of all, be clear on the problem you are facing. What metrics say that your campaign is not working? Is it the ROI (return on investment — easily put, how many dollars are you making out of 1 dollar you invest in the ad), cost per lead (in case of lead generation campaigns) or number of people your campaign reached? When reporting on your marketing efforts, make sure to be as precise on the desired metrics as possible. “Thoughts” are the worst reporting tool.
Secondly, who is running your ads? Is it you who has access to all the important metrics and reporting or do you outsource ad management to someone else? If so, are they fully transparent on the process of a campaign setting? Do they let you “watch the chef while cooking”?
Let us be clear: this point is crucial. Online advertising is not a black box. It truly works and increases the ROI if done well. But if not, there is no positive ROI, just money thrown out of the window… What I am trying to say is, that there will be plenty of companies charging you for the ad management who are not truly willing to help you. As a result, your campaign ends up being inefficient.
Let’s say you are running the ads on your own and still suffering from lack of efficiency. We won’t let you down. We’ve prepared a few points which — when done well — will increase your ad efficiency.