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Your Metrics System: How to Track Results

092618 Your Metrics System_ How to Track Results
26Sep

You’ve done it! You created and survived your holiday marketing campaign!  While it would be nice to revel in the feeling of accomplishment, you’re not done yet.  

“But the campaign was a success!” You say, “we earned so much money! What’s left to do?”

Nothing much . . . only determining if your campaign was actually worth the time, money, and energy you spent on it.

I hear this sentiment all the time from business owners. After they’ve dipped their toes in the marketing world for the holiday season, they decide to leave the pool until the next fall. 

“Why would I ever need to know all those marketing stats?” They ask. 

This attitude will doom your chances of long-term success. These metrics affect your business, your brand, and your bottom line.

Those “marketing stats” will help you in a myriad of ways. They 

  • are necessary for calculating your return on investment (ROI);
  • give you valuable demographic information;
  • help you determine your upcoming budget; and
  • give you insight into and ideas for your future marketing initiatives.

Here are a few metrics you should consider measuring at the end of your holiday marketing campaign.

Impressions are the number of times an individual person sees a piece of content (ads, tweets, updates, blogs, etc.). This is an awareness metric. Although impressions are important, it can be a vanity metric. Focus on the quality or the effect of the impressions. How many times did a person see your ad before taking an action? 

Reach refers to the number of people who saw your ad. I’ve already discussed how important it is to target the right audience, and this metric lets you see if you hit your target! Did the social media network, website, and/or publication you chose for ads live up to your hopes? Did you get the customers you expected, or did you see a boost in traffic from an unexpected demographic? For instance, video games are marketed to teenagers, but parents are usually the people who actually buy them.

Engagement is, essentially, interaction. It shows that your audience actively participated in your content. Likes, clicks, shares, comments–all of these are ways your audience engages with your brand. Think of engagement as the active result of reach and impressions!

Click Through Rate (also known as CTR) is found by dividing the number of individuals who clicked a link or ad on your webpage by the total number of users who viewed the page. If your page was viewed by 380 people, and 7 of those people clicked the link to your storefront, then the click through rate would be 1.84 percent. That CTR isn’t horribly low, by the way. According to Hubspot, search ads average a CTR of 1.91 percent and display ads have around .35 percent.

Conversions are actions taken by visitors. These actions can include completing a purchase, filling out a survey, or subscribing to an email newsletter. Tracking conversions enables you to retarget consumers. In retargeting, you present ads to consumers who visited your page but did not complete an action (e.g., added items to the digital shopping cart, but never paid).

All of these metrics will vary according to your goals. Too many novice marketers make the mistake of only analyzing these metrics after the holidays or another big campaign, but that is asking for trouble. You need to do this throughout the year! Take stock of where you are so that you can get to where you want to go!

Voilà! I’ve told you everything you need to know about running your holiday marketing campaign! If you have additional tips (or cautionary tales), share with us in the comments below. Don’t hesitate to reach out to me if you have any questions about digital marketing, seasonal campaigns, or one of my many Christmas cookie recipes!

Do you need more help with your holiday marketing campaign? Don’t wait for a Festivus miracle! Contact The Go! Agency today for your free consultation! 

 

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The 5 Basic Metrics New Social Media Marketers Need To Study

THE 5 BASIC METRICS NEW SOCIAL MEDIA MARKETERS NEED TO STUDY
12Mar

Are you just getting started with social media marketing? The first thing you need to know right away is that this industry thrives on data. Our work consists of a healthy mix of creativity and number crunching, which helps us deliver fantastic results. Our previous blog explored the three main metrics that you should be following:

Conversation Rate

– Audience Demographics

– Conversion Rate

But if you’re just getting started, you’re probably still trying to get the basics down. Here are the five basic metrics you need to closely watch.

1. Followers. Consider this the equivalent to a friend request. These people like your brand, and as a result, they want to follow your brand so they get your content delivered to their news feeds whenever you post.

2. Shares. A share is essentially the act of someone sending your content off to their own circle of friends on social media. This is fantastic, as it increases your online visibility to all the friends of those who shared your content.

3. Likes. A simple sign of approval. It seems like it might just be something fun, but in reality, it adjusts users’ individual algorithms so they see more and more of your content, further solidifying the customer-brand relationship.

4. Mentions. If someone mentions your brand in their own content, they’re bringing more light to your business’s online presence. It also gives you a great opportunity to respond in a professional, friendly matter.

5. Clicks. A very important metric- clicks are social proof that users are liking your content. They’re choosing to delve further into your brand’s story by clicking your content and learning more.

It’s your job as a social media marketer to have a close watch on all 5 of these metrics. As your business grows, these should all grow as well. If you see slumps in your growth — which is totally normal– you need to go back to your strategy and see how you can do things differently, whether the solution lies in content, advertising, or outreach.

Our team at The Go! Agency loves to help our clients soar in all five of these areas. It’s your time to shine online! Contact us today to learn more: https://gosalesandmarketing.com/

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The Top 3 Social Media Metrics You Should Pay Attention To

THE TOP 3 SOCIAL MEDIA METRICS YOU SHOULD PAY ATTENTION TO
12Mar

Let’s think about a billboard for a moment. The marketers behind that message carefully crafted their advertisement both on a copywriting and visual level. But while there are plenty of statistics available about the location in terms of both vehicular and pedestrian traffic, you will hardly have any solid metrics or analytics proving how effective the billboard is.

With social media, however, you don’t have this problem at all. Social media marketers have the opportunity to study a seemingly endless sea of metrics that analyze every aspect of their content. But with so many different aspects to study, it’s important to know which metrics you should be studying.

Refining your metric strategy is an important step in improving your social media marketing as a whole. It’s helpful to do this around this time of year as the holiday rush is over and now you can take the time to really analyze your approach.

Want to learn more about how your social media marketing is doing? Then focus on these metrics:

1. Conversation rate. This is a popular term in the social media marketing industry. But what does it mean? Your conversation rate compares your number of followers to the number of those commenting on your content in a specific period of time. You could have 20,000 followers, but if you are not receiving any comments, then all those numbers don’t amount to much. If your conversation rate is high, however, that means those followers actually care about your brand enough to interact with it, which means the likelihood of them purchasing a product or service is much higher as well.

2. Audience Demographics. When you start to grow a decent following on Facebook, Twitter, Instagram, or another platform, you will need to start analyzing your demographics. For example, you may be surprised that more women than men like your brand, or that you have an especially high number of followers in Seattle. Some of these may not be surprising at all, which is a good thing. This means you’ve accurately predicted your audience and are reaching the right people. If you aren’t, it’s time to re-evaluate and determine how you can reach those people.

3. Conversion rate. Last but not least, conversions, (no, we’re not repeating number one, read that word closer!) This is one of the most important facets of social media marketing and it is only getting more vital to every marketer’s mission. One way to study conversions is click rates, which allows you to see very clearly who clicked what. This will help you see more insights into the ever-changing mindset of your customers. But that’s not the only way to study conversion rates. You can also install a pixel code into your website that will monitor where traffic is coming from. You will be able to accurately see how your social media advertising is benefiting your bottom line.

Metrics are no doubt one of the most vital parts of a social media marketer’s job. Without metrics, we might as well be publishing the equivalent of a digital billboard- sure it’s in an area with heavy traffic, but we have no idea who is looking at it! 

Did you know our team at The Go! Agency closely watches each of our clients’ analytics and metrics? That’s right, we love data! Contact us to see how we can help you! https://gosalesandmarketing.com/

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