Posted by Brittany on March 26, 2021
At BTI, we like to provide our client partners more than just data. That's why every report we pen, comes with strategic insights from our team on what's worth analyzing. Looking beyond the "vanity" metrics - like "likes," and focusing on select numbers that tell the story of a campaign trajectory and the impact it has made on the bottom line, is the true measure of success.
Understanding the right data also allows marketers to continue to make smarter, data-driven decisions which can lead to more successful, long-term campaigns that just get better with time.
Hootsuite, a social media scheduling and insights platform, outlines the four key customer journey stages which are important when it comes to accessing your campaign:
Awareness: these metrics illuminate your current and potential audience.
Engagement: these metrics show how audiences are interacting with your content.
Conversion: these metrics demonstrate the effectiveness of your social engagement.
Consumer: these metrics reflect how active customers think and feel about you and that's a big idea.
With these stages in mind - how do we identify the most important metrics for the story we are trying to tell? Here are some of our favourites.
Conversion Rate is the number of visitors who take action on your content. A conversion can refer to any desired action that you want your user to take (for example, subscribe to your newsletter, download content, register for a webinar). Your ads conversion rate is important because it tells you how much you are "getting" for what you are spending, and spending more doesn't always mean better results.
Click-Through Rate, or CTR, is how often people click on the call-to-action link in your post. This is a useful measurement because it is telling the story of what your audience is looking for.
Brand Awareness is the attention your brand gets, across all social media, during a reporting period, or a specific span of time that yields statistically relevant data. It may seem vague and it kind of is because it is a metric that can not be perfectly determined. It boils down to whether or not people trust your brand, and that's a big deal.
Audience Growth Rate measures the wins and losses in your brand’s following on social media. Tracking the audience growth rate will tell you what your audience is doing over time.
Post Reach tells us how many people have seen your content. Reach is unique, while impressions could be repeated as users see ads more than one time.
While the list goes on - these are a selection of some of the terms we refer to again and again. Whether a campaign is just getting ramped up or built on many months of optimized data, consistent analysis is key to long-term insights and understanding about your audience. Want to learn more? Let's talk.