Connect with us

Online Marketing

Social Media Metrics That Should Matter To You

Are the metrics you’re using helping you make decisions?

Paul Roberts

Published

on

Digital-marketing-

Brain freeze, also known as an ice-cream headache or a cold-stimulus headache, a kind of short-term headache typically linked to the rapid consumption of ice cream. While the idea of consuming your favourite ice-cream which results in a brain freeze might sound appealing, it’s very much the same feeling I sometimes get while trying to understand social media metrics, the end result, BRAIN FREEZE, delightful.

Related: 5 Ways to Get Unstuck in the Face of Creative Burnout

I know enough about social media metrics to hold my own or at the very least give a top line overview when in conversation. In an effort to understand those that I do, I thought it would be worth looking into the many different metrics one might track and more importantly which ones are worth focusing on.

As a social media marketer, your focus and goal regarding research should be to acquire data that helps with the decision-making process of your business. It is therefore vital that you know what you’re tracking and why.

If you have ever been in a situation where you see a metric and have no idea what to do with it, I know I have, then you’re probably looking at what is called the vanity metric. A vanity metric is data collected about a company or it’s users that do not help entrepreneurs make decisions and many claim that these metrics serve no purpose other than to make the entrepreneur feel good.

If there is going to be one key takeaway it’s this: Are the metrics you’re using helping you make decisions? You need to be able to answer this question because there is a difference between knowing what the stats mean and knowing which stats are meaningful.

Definitions of popular social media metrics

Social Media over the last 5+ years has brought a whole new range of metrics to the table for marketers to consume and dissect to their hearts content.

Metrics in general fall into *4 categories, namely:

  1. Consumption metrics: How many people viewed, downloaded, or listened to this content? Page views, Video views and downloads
  2. Sharing metrics: How resonant is this content, and how often is it shared with others? Likes, Shares, Tweets, +1, Pins & Inbound Links
  3. Lead generation metrics: How often does content consumption result in a lead? Webinars, Competitions, Downloads, Email Subscription, Blog Comments  “Conversion Rate”
  4. Sales metrics: Did we actually make any money from this content and customer engagement?  Social NPS, Influence, Response time

*Source – Content Strategy Consultant @Jay Baer

Related: 2015: The Year of Brand Experience

Which social media metrics should matter to you?

social media for business

Of the many metrics we have to consider I believe there are 3, which for me stand out more than most. Fan Growth, Interaction and Response Time, it’s these which impact the decision making process and here’s why.

1. Fan Growth %

Fan growth or otherwise know as audience growth rate is a refinement of New Followers or similar stats, expressed in % change over time, the growth rate of your audience depicts your social media momentum.

Why it’s important is because it allows you to evaluate marketing efforts over time, without getting distracted by irrelevant information like total followers’ numbers.

2. Interactions 

It’s important not to confuse engagement with interactions and understand why interactions is now the preferred metric for measurement as demonstrated by Social Bakers.

Engagement rate measures how well your fans interact with your content. The Facebook Post ER formula takes into account Likes, Comments and Shares of the post to the total number of fans at the time is has been posted. You then multiply that by 100 to get the final percentage, which expresses how well your brand is doing in engaging your fans.

Interactions, on the other hand, serve a better purpose. Because we do not know if a competitor page has promoted a post and increased their overall engagement rate performance, hopefully someday we will have that insight, the level of interactions is non-dependent on page size and therefore is a fairer metric to measure.

The recommendation is that brands follow overall Interactions (Engagement, not Engagement Rate), check the structure of the interactions (i.e. types of interactions – likes, comments, shares), and support their interaction levels with comparisons to benchmarks at location and industry level, as well as with competitors.

By understanding how your interaction levels are comparing to your industry you can benchmark performance, and by understanding the structure of your interactions you can judge value, as naturally a share holds more weight than a simple like, this is why interactions is critical to the decision making process.

3. Response Time

Now you have your fans and they are interacting with your brand, job done? Nowhere near.

In order to be truly successful in social you should be having 2 way interactions with your fan base. This is highlighted by the rise of Social Customer Service but any conversation means your customers are taking the time to interact and it’s an opportunity to make them happy.

Seeing that most social media users are on their mobile phones, the importance of these conversations happening in as close to real time as possible becomes more apparent.

Related: Why Everyone Love’s Samsung’s Viral Advert

If you have an issue, you want it dealt with NOW and brands need to match the expectations of their customers. The customer owns the social media space and you owe it to your customers to own your channels. Reports state that more than 10% of customer queries are now resolved over social, so operations now need to be streamlined and one effective way of doing this is by using a dedicated social customer service CRM.

Consistency and preparation are essential to effective social media measurement. Pick your favourite metrics and start tracking them now.

Paul is the co-founder of WhySatisfy. A business that is dedicated to providing brands with the technology, training and support to take control of their digital interactions with customers, helping ensure they deliver amazing customer service and experiences. Twitter Twitter - LinkedIn -

Advertisement
Click to comment

You must be logged in to post a comment Login

Leave a Reply

Online Marketing

The Top Ten Marketing Trends To Look Out For In 2019

With 2018 behind us, there is no better time to start looking to the future.

Jandre de Beer

Published

on

chatbots

Most people start making their new year’s resolutions this time of the year, goals to make things better for themselves in the coming year. This is something that businesses need to look at doing too.

Running a digital marketing agency means one needs to keep ones finger on the pulse.

The world is continually changing and developing, and if businesses want to survive and thrive, then they need to grow and develop too.

As with everything else, marketing is also continuing to change over time, so it is important for businesses to be on top of the newest trends. Even if 2018 was a successful year for you and your marketing team, don’t get left behind by ignoring the latest trends. Make the necessary adjustments to ensure that 2019 is just as successful.

Maintain an advantage over your competitors by preparing yourself and adjusting your marketing strategy before they do. Whether your current marketing strategy is working for you or not, this article will help you by identifying the top ten marketing trends that businesses should look out for in 2019.

The first few trends look at technology that you have likely already heard of, but with constant advancements in technology, it is still worth taking a look at.

1. Chatbots and live chat

Although this is not a new technology, chatbots and live chat is becoming very popular with businesses all over the world. People are interacting with more and more chatbots on a daily basis. This technology has become so popular because of the benefits it offers businesses in terms of customer interaction and better customer service.

In a very conversational way, chatbots message back and forth with customers for a number of tasks, such as suggesting products to customers and ordering the items. Chatbots enable businesses to provide a 24-hour service to customers by providing customers with an instant response to questions, providing an easy form of communication, resolving complaints quickly and providing a good customer experience. It is a lot easier for customers to communicate with chatbots online than it is for the customer to phone or send an email to a company representative.

According to research, live chat makes it three times more likely that customers will complete the purchase process. With so many benefits to businesses, it is very likely that the use of chatbots and live chat will continue to grow in 2019 and beyond.

If you want to experience chatbots, feel free to visit this link and click on the chat button that appears on the screen.

2. Enhanced personalised recommendations

This technology has already stared becoming the way of the future. Personalising the customer experience is a trend that most businesses are already starting to implement, whether it is recommending movies or series when watching Netflix or recommending other products that the customer might be interested in based on previous buying behaviour, this technology can help businesses enhance the customer experience by giving the customers more of what they want.

This artificial intelligence algorithm is constantly being bettered and is making more accurate recommendations as time goes on. This is a trend that should not be ignored in the coming year.

Related: The Complete Guide To Writing A Marketing Plan

3. Facebook and Instagram adverts

The trends around paid social media ads are constantly changing. With these changes it is becoming obvious that businesses prefer to focus their attention on Facebook and Instagram ads over other social media platforms.

Social Media Examiner published the following data to show how ads on social media sites like Snapchat and Pinterest are becoming less popular with businesses, while Facebook and Instagram are growing in popularity.

social-media-marketers-paid-social-usage-trends-graph

As we know, Instagram is owned by Facebook, so it is not a surprise to see these two social media sites growing in popularity together. Businesses are able to manage ads on both these social sites in the same place. The format of these sites make it much easier for businesses to create ads that target the right audience, based on its needs.

Although it is a good idea to advertise on as many social media sites as possible to ensure that you are reaching the largest audience possible, it would be wise to focus most of your attention on these two top trending sites. If you are only looking at making use of paid social media ads in the coming year, then these two sites are the ones to start with.

4. Voice search

Voice recognition software has been around for a while, but the technology is evolving at a steady pace. Google Home now has a 95% word accuracy which shows how the technology is gradually getting better and more accurate. Voice search makes it easier and faster to search apps, to conduct web searches and even conduct image searches. Very soon, voice searches may represent the majority of total searches.

With voice search technology, people are searching for information, making purchases and even interacting with websites using only their voice. In time businesses will need to rethink how information is presented to audiences and may even be forced to come up with entirely new structures to keep up with this change.

In was reported that as of January 2018, voice searches were conducted 1 billion times a month, and in 2019 this figure is expected to grow. As a business, this should be flagged as technology of interest.

5. Mobile payments

Marketing your products and reaching potential customers is only half the battle won, the other half is completing the sale. Being able to offer customers a variety of payment options is something all businesses need to look at. A growing trend in this regard is mobile payments, so this is another option that businesses need to look at offering customers.

One portion of mobile payments allows customers to pay for goods and services directly from a mobile app, another portion of mobile pay comes from alternative payment options.

In 2018 an estimated 440 million users across the globe used contactless pay options, and this number is expected to increase in 2019.

The following graph shows exactly how this trend has been growing.

mobile-pay-is-expanding

Your business should be prepared to accept these types of payments because consumers are getting used to it. If you don’t have their preferred payment option, they may take their business elsewhere.

Related: Free Sample Marketing Plan Template

6. Interactive video content

Video marketing is a trend that has been on the rise for many years. More and more videos are being uploaded to social media and websites as part of marketing strategies. Video blogs (vlogs) have also been taking off in this regard. In 2019 we will start seeing changes to the way video is consumed with an increase in interactive videos.

An example of an interactive video is a 360-degree video that allows users to view the whole area being discussed in the video by clicking the navigation button in the top left-hand corner of the screen while the video is playing.

interactive-video-youtube

This 360-degree video was uploaded to YouTube by Washington Post.

Offering interactivity with videos means that more people can engage with your content. Interactivity also makes your videos more exciting for your viewers to watch than traditional videos. Research has shown that 360-degree videos have a greater click-through rate than traditional video formats, offering a higher return on your investment.

This is a trend that will continue to grow due to its popularity, so it definitely worth looking into now.

7. IGTV

Instagram has decided to re-envision mobile video with the introduction of IGTV. This new standalone platform has been developed specifically for mobile phones. Instagram has caught onto the fact that people these days are watching less TV and more videos. They have decided to develop this trend and cater to the growing wants and needs of the masses.

Instagram is definitely evolving with the times and its popularity has continued to grow because of this since its launch in 2010. Instagram currently has over 1 billion active users on its site, so even if a small percentage of these users download IGTV, it is still a large audience for marketers to target.

instagram-marketing-numbers

It will be highly beneficial to have an active presence on both Instagram and IGTV in order to use the large number of current users to your advantage. With the IGTV platform being so new, try to get a step ahead of competitors by getting to know the platform and producing content for it.

Related: Beginners Guide To Digital Marketing In South Africa

8. Beacon technology

In a mobile era where mobile apps are becoming more and more popular, businesses need to get onboard with the latest technology if they want to stay current. Beacon technology is a great way for businesses to improve the profitability of their mobile app. This new technology works in a similar way to GPS, just not quite as complex.

Firstly, with this technology retailers need to encourage their customers to download their mobile apps. Once the customer has downloaded the app on their mobile phone, the app will be able to track their location. Retailers can then strategically place beacons around the shop so when the app users walk past a beacon, the business will know exactly where the customer is and what the customer is shopping for. With this information businesses can then send the customer a promotion via push notifications.

This technology can even be used by businesses that only have an ecommerce platform. Beacons can be placed in public areas relevant to what the business offers. Promotional push notifications can then be sent to the user when they are in the vicinity of the beacon.

Below is a visual representation of how the beacon technology works.

beacon-technology-diagram

2019 Will see a rise in popularity with this technology because of the rise in popularity with mobile apps.

9. Predictive analytics

Predictive analytics is very much related to personal recommendations in the sense that it uses a variety of statistical techniques that analyse current and historical facts to make predictions about the future. Businesses can use predictive analytics to gain a competitive advantage by uncovering new opportunities. Predictive analytics are used to determine customer responses or purchases and help businesses to attract and grow their customer base.

Technology like this can be so beneficial to a business, and that is why more businesses are making use of it. Its popularity is growing and will definitely continue to grow throughout the coming year and many years to come.

10. Artificial Intelligence and machine learning

Artificial intelligence (AI) and machine learning is by no means new technology, in fact, many of the trends discussed in this article make use of AI and machine learning. It is so important for businesses to learn the marketing skills needed to survive in this age of AI as it is the fastest growing technology and no business can afford to ignore it. Ignoring developments in technology could mean that businesses will not be able to keep up with competitors.

Related: The Curious Case Of AI And Legal Liability

Conclusion

It is so important for all businesses to recognise the newest trends and to keep developing their marketing strategies along with new technology in order to be able to compete in such a competitive, ever-changing market.

2019 Is sure to be a very big year for marketers so I hope that by following these trends, your business will find success in the coming year.

Continue Reading

Company Posts

Now’s The Time To Go Digital

The digital age has completely transformed the way businesses market their products and services to their customers. As a result, the playing field of industries both big and small has forced companies to relook their strategies.

Digital School of Marketing

Published

on

lisa-schneider

Vital Stats

Digital marketing is a broad term covering digital channels that people use to market their products. But what makes digital marketing different and unique compared to traditional marketing channels?

It gives the marketer or advertiser the opportunity to hone in on specific audiences that are more likely to purchase or see value in their offer, says Lisa Schneider, Managing Director at the Digital School of Marketing.

“Because digital marketing is computerised, it allows the marketer to get accurate analytical data about their campaigns, both in the research phase and when their campaign has finished. This makes digital marketing an easy way to gauge ROI of marketing and advertising efforts.”

Do you know how to market your businesses online?

Regardless of the size of your business, to remain successful, you need to have a good understanding and grasp of what digital marketing is and train your organisation on the skills it involves. According to Lisa, digital marketing skills encompass aspects that include:

  • Analytical skills
  • Social media skills
  • Search marketing skills
  • Copywriting skills.

“Without a doubt the most important element is understanding who your customers are and what makes them tick. One of the biggest advantages by far in digital marketing is the ability to market to an audience, assuring that your message will be seen, heard and appreciated,” says Lisa.

“The technology that is made available to market products in the digital realm is sophisticated software that allows the marketer’s message to be seen as widely or as granularly as they would want. A solid understanding of your target market is absolutely one of the most fundamental and important elements of digital marketing.”

Related: Beginners Guide To Digital Marketing In South Africa

Advance digitally without breaking the bank

Marketing is an expensive exercise no matter how you look at it, says Lisa. “Digital marketing requires a solid understanding of many different areas that are quite broad, and how to manage and understand a multitude of platforms and analytical data is imperative. This will allow the marketer to extract the most value without burning a hole in their pocket.”

As a business owner, you must look at what is out there in terms of online education providers. It’s important to do your homework about the company and what accreditation and endorsements the company holds.

Lisa suggests contacting the accreditation body to find out the legitimacy of the educational provider. The Internet provides a wealth of information regarding different institutions and how their courses can benefit the company.

What defines a reputable online marketing education provider?

Authentic online education providers have a third-party accreditation or endorsement. In a nutshell, accreditation means that a third party, that is usually government regulated, has looked through the institution’s educational material and internal business procedures to see that it has met their standards of approval.

What this means is that the education provider is not self-governed but is regulated by higher government authorities. This makes your course more credible, recognised and respected compared to a non-accredited provider.

For best results, choose the experts

“The Digital School of Marketing stays on top of trends through solid research,” Lisa explains.

“Google is constantly updating algorithms and adjusting their online marketing platform capabilities. Social networks also come and go and adjust their marketing and advertising platforms.”

Related: Free Sample Marketing Plan Template

DSM prides itself on the ability and appetite to constantly research trends by reading industry journals, attending workshops and seminars, but only publishing what is relevant and has longevity. “We also benchmark the changes that are made on online learning platforms, so we can offer our students an experience that is unique and truly fulfilling on their educational journey,” says Lisa.

Continue Reading

Online Marketing

I Built A Social Media Following Of 1 Million In 30 Days. Here’s How You Can, Too

By applying these social strategies you can build a huge following with high levels of engagement.

Brendan Kane

Published

on

social-media

Many people want to share messages with the masses to gain exposure for their brand, product or service on social media. But, with over 60 billion messages shared each day on mobile platforms alone, most content gets lost in the noise. For the last 10 years I’ve worked on improving online strategies for people like Taylor Swift, Rihanna and Disney. I’ve learned how to optimise analytics, data and paid media to help companies achieve massive growth.

When I set out to gain my own One Million Followers, I was aware that the people I work with had the advantage of fame and influence. But, I wanted to see if I could use what I’d learned to build an audience for someone unknown – someone building a following from scratch. That way I could gain validation and credibility for anyone that wanted to achieve their dreams. So, in June of 2017 I put into practice all my tools and by July of 2017 I had a million Facebook followers.

The experience changed my life and now hopefully it can impact yours. If, as an unknown digital strategist, I can create this type of social following so can you. By applying the social strategies below you can build a huge following with high levels of engagement. For the purposes of this article, I’ll focus on strategies for Facebook, but many of the tactics can be applied to the other social channels as well.

Related: 4 Key Social Media Mistakes You Might Be Making – And How To Avoid Them

1. Hypothesise and test

Aim to create shareable content with your audience. Do research about what gets people to share and come up with a hypothesis about the type of content to create. Identify a format or theme that will engage your audience around a specific message. Then create a low-cost proof and test it.

When I built my following, I used a lot of picture quotes. They are fast and easy to create and are highly shareable. However, if you have the means to create short videos, between 30 seconds and four minutes, they usually perform the best.

2. Learn from your tests and pivot when necessary

My ability to learn from the tests I conducted was essential in reaching a million followers. Take the time to understand why certain content works and why other content doesn’t. Be very specific with your tests – I tested thousands of variations of content and segmented out as the variables to truly learn what was optimising performance. I also didn’t waste time; as soon as I saw that something wasn’t getting the engagement I desired I pivoted. For example, I posted viral videos of dogs and kittens performing cute and funny actions as well as prank videos. Although they all performed really well, I decided to pivot because they didn’t align with my brand’s theme of thought leadership.

Analyse the results from your tests and allow them to drive both your short and long-term content strategy. Test until you find a format or theme that truly works.

Related: Social Media Marketing For Start-ups: Essential Tips

3. Find a hooking headline

Imagine walking by a newsstand in the supermarket. What is it that makes you stop and stare at an article in a magazine? Usually it’s a headline that communicates the story’s hook-point in a succinct and exciting way. It’s a short sentence or phrase that stands out, grabs attention and leaves your audience wanting more. A good headline helps communicate what makes your brand, message or content different and valuable to your customers.

When creating the headline be specific and find relevancy to your audience’s lives. Linking content to celebrities or current events is a great way to grab people’s attention.

4. Target the right audience

You can have great content, but without reaching the right audience you won’t develop a following or find the people who will champion your message for you. As Nike‘s CEO Mark Parker explains, “It’s our obsession with serving the consumer that sharpens our focus and drives our growth.”

One of the benefits of using the Facebook ad platform is the level of niche targeting it provides to find your ideal consumer. When creating ads, segment out your targeting by: Gender, age, location, interests, lifestyle (married, single, occupation, yearly income and products or brands they like) and target some of your competitors’ fans.

Related: Why You Should Sort Your Social Media Policy (Like NOW!)

5. Invest the time and money necessary to reach your goals

Reaching a million followers has gotten me opportunities to speak at conferences, but getting to a million isn’t necessary for everyone. Gaining a following requires an investment of time and money. Where you put your energy depends on how quickly you want to grow.

To determine how much you need to invest, analyse the benefits you want to receive from building a large following – the return on investment (ROI). Imagine your end goal and work backward. Sometimes the ROI isn’t a dollar amount – instead, it’s more validation or credibility that gets you into a meeting with a casting director, modelling agency a music producer or an investor. Ask yourself how many followers you truly need and invest what’s necessary to reach those goals.

We live in a digital world and social following numbers matter. Hope to see your content on Facebook soon.

This article was originally posted here on Entrepreneur.com.

Continue Reading
Advertisement

SPOTLIGHT

Advertisement

Recent Posts

Follow Us

Entrepreneur-Newsletters
*
We respect your privacy. 
* indicates required.
Advertisement

Trending