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.
If you are reading this then you have probably heard of Instagram. It is one of the most popular social media platforms in the world. With over 1 billion monthly active users and more than 500 million daily users.Nowadays more and more businesses are using Instagram as a key marketing tool when it comes to online marketing.
But it is important to do your research and learn the ins and outs about marketing on Instagram. So you can enjoy all the benefits it has to offer and create the best possible marketing strategy to ensure great results.
Your main objective is to find your target audience and engage with them in the best way possible. This is achievable by using a number of key tactics and data which are all available to you via Instagram. Studying this information will help you come up with the best marketing strategy for your business. Which will help you reach your targeted audience to ensure you are offering your product or services to the right people.
Sound interesting. Here are the key methods to finding and engaging with your targeted audience on Instagram.
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!
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
Facebook Groups are one of the basic components of Facebook. You are probably even a member of some of them.
It's a place where people with the same interests can connect online. The basic principle is that it is an online place for people to discuss, share experiences and express their opinions and attitudes. It also allows people to organize events, share photos, videos, or broadcast live videos.
Any Facebook user can create a group and its operation is completely free. Each user can be a member of up to 6,000 groups at the same time.
Unlike FB Pages, groups can be closed, and while the Page serves primarily for brand presentation, groups are focused on users and their activity in the community.
Public groups are the ones anyone can find and join. On the other hand, Closed Groups can be found, but their content is hidden and the membership must be approved by its moderator or administrator. This is a great tool to control who wants to join the community and thus control the membership. The highest level of privacy is offered by the Secret group. You cannot view or search those on Facebook. Members of these groups are directly invited by administrators or other members.
Having a local business essentially means that there is a hyper-focus in your marketing activities. You can use greater precision to find your customers. When it comes to marketing, the key is to get the most out of any channel that gathers your customers. Today, we'll speak about Google search ads. And not only that. We'll introduce easy tactics to dominate a search engine for just as little as 6 bucks.
Yes, that's correct. Even a small marketing budget can be used for business growth. Online is not only for the big fish. Especially when it comes to search listings.
Say you have a local business, such as a yoga studio, barber shop, restaurant or a coffee shop. The odds are that people probably already search for businesses like yours. Let's look at what shows up when people search terms related to “yoga in New Orleans.”
If you have a yoga studio in New Orleans, guess what... You want your website or social media to pop up when people search for a term like this. Google search ads help display your website or social media page at the top of the search – with the “Ad” label.
Before we jump into concrete details of what you can achieve for such a small budget, let's summarise what has to be done first:
Say you run a bakery shop in London. After you check the data in the Google Keyword Planner, you'll find out that the term “bakery near me” is searched more than 12,000 times per month. That's pretty huge, right? Moreover, the competition is low, which positively influences the unit cost – cost per click – of your ad. Look at the results we got when we ran such a campaign.
In other words, we showed the ad to people who searched for “bakery near me” and were in London at that exact time.
What you see above is the Google Ads interface. The campaign spent less than $6 and ran throughout the whole month.
Here are some of the main metrics we got:
Interested in seeing another example of such an ad? Here you go.
In January 2020, we ran a campaign to promote a yoga studio that lies in the heart of Prague. The campaign ran for a whole month and got our client some astonishing results. Again, the investment was 910 CZK which is equal to around $36.
To sum it up, here is what our client got:
Your case might be slightly different according to your budget options, but one thing remains clear. You can easily promote your local business on Google without having to spend thousands of dollars on marketing.
💡 Such campaigns that promote your brand should run continuously, not only for a limited period of time. You can, of course, adjust them based on your timely limited offers.
The key is, of course, to inspire website or social media visitors to take a desired action: your store visit. That's closely related to what your website or social media profile looks like and is, therefore, a completely different story. But the fact that you showed your business name and outlined your unique selling propositions – things that make you better than others – to more than 1,000 people counts too and will, eventually, transfer into dollars in your pocket.
We introduced one of our Google campaigns that worked well for a local business. We found out that people already search for what our client offers and easily leveraged that fact through a Google ad. You can do the same. With as little as a few dollars a day and, thanks to our tool. And you can do this all with very little marketing knowledge. So what stops you from getting started now?
I know, I have been there too… You are about to create a piece of content — a nicely done cappuccino in your café or a beautifully pictured house that you want to sell. But how the heck do you begin? With no professional equipment or experience — you want to produce the best content for your social media profiles, business website or email campaign, right?
Well, how do you go about it? The key is you don’t have to be perfect, in fact, that’s part of the magic of this medium! Be natural, be spontaneous, and be active. Your new audience will expect funny, educational, engaging and UNPROFESSIONAL content. In a world where marketing aims for the ideal, your audience wants someone or something that they can relate to. A picturesque cappuccino is nice to look at, but what about a customer savouring their morning drink, only to burst out laughing because they have foam on their upper lip? Capture it and share it! Sometimes less is more. And something is always better than nothing…
In this article, I will show you how you to use a (relatively new) medium that not only allows you to share your unprofessional and spontaneous content, but REQUIRES IT! This medium is called Instagram Stories aka Instastories. As the name says, it can be used on your Instagram profile (both personal and professional). Below see an example of what an Instastory looks like:
Let us first clarify what Instastories are. They are vertically shared pictures, videos, animations that were originally used by Snapchat. After some period of time, Instagram and Facebook implemented them and extended their platforms. Instastories disappear after 24 hours which makes them an instant, spontaneous and engaging piece of content.
But why should you actually care about them? How are they relevant to your business? As we regularly discuss in other articles, webinars and private Facebook groups, ask yourself a question before you get started: Can I reach my audience on this channel? Instagram is used daily by one billion users and Instastories by more than 500 million people. That truly means 500.000.000 people. Every. Single. Day.
Going back to where we began. You are probably asking yourself: “Do I need professional equipment, a best-of-breed creative studio with the best of the best?” Not at all. Be natural, be spontaneous, and certainly, go ahead, and be unprofessional! This platform requires it. Your audience expects you to be natural. They expect to see what’s going on behind the scenes and what your daily updates are — share with them the best moments that can describe you or your business. Tell STORIES! Because that is what this platform is about.
Let’s break the stereotype: You do NOT need to be a professional to create great, engaging content for Instastories.
Let’s get practical. How do you really begin?
You know how to get started. Get inspired before you jump into the content creation. See a series that shows some examples of really nice — BUT STILL UNPROFESSIONAL — Instastories which you can do within a few seconds.
There are plenty of cool features that you can use to make your content visually more appealing. Amongst them, there are live streams (even shared streams with other coworkers, partners, and followers), galleries of Gifs, options such as slow motion or boomerang effects, coloured backgrounds, many text fonts, polls, quizzes and questionnaires (ways to engage with your audience), chat windows and tons of emojis. Again, choose what correlates with your business image (branding). I may be repeating myself, but less is sometimes more…