I was on the phone with a potential client recently when the topic of KPIs came up. One of my favorite questions to ask when I’m on a call is what KPIs are being tracked. It usually gives me a good idea of what’s being watched, and what is perhaps a little misunderstood.<\/p>\n
So we were chatting and they mentioned they felt impressions was a stupid thing to track. They were genuinely frustrated that Facebook would charge them for an ad that simply had “impressions” as the goal.<\/p>\n
And I totally get it. When you’re shooting in the dark with a Facebook ad, you grasp for any indication that you’re doing the right thing. Any number that looks like it’s going up gives a slight sense of relief. But when you don’t know what those numbers actually mean… Well, it’s hard.<\/p>\n
Because advertising is scary.<\/strong><\/p>\n The more I work with clients (and even for myself) I learn that marketing is scary only if you don’t understand what things mean. It feels a bit like trying to play ping pong outside with a parka and ski gloves at midnight…. impossible and confusing and frustrating. Why would you even waste your time?<\/p>\n When you DO understand what’s happening, though, marketing becomes a game. A fun one. In the summertime with sunshine. The kind of game where you find a flow and feel amazing about what’s happening.<\/p>\n That’s the goal, right? Flow.<\/p>\n So let’s talk about some of the building blocks of KPIs so you can discover that flow with your social media.<\/p>\n KPIs are Key Performance Indicators. They’re a way of measuring growth. KPIs include things like impressions, reach, and engagement. Even followers can be a KPI.<\/p>\n KPIs are little snippets of information, captured at various times, to give you – as a business owner – a good indication of your growth. KPIs give business owners a better understanding of conversations happening around their business.<\/p>\n KPIs are the little numbers you track, helping you identify growth when there doesn’t seem to be a direct revenue correlation. And proper analysis of these KPIs can help you refine the way you do business.<\/p>\n For example, maybe one of your company goals is to connect with a younger audience. A KPI you could track might be your audience demographic over time. If you start seeing more engagement with a younger audience, you’ll know your message shift is working. If you see the same level of engagement (or even less) with that younger audience, it’s a great indication that something isn’t right, and you may need to revisit your messaging.<\/p>\n One big mistake I see companies make all the time is tracking the WRONG KPIs. It’s so easy to get caught up in how many Instagram followers you have, or how many impressions a particular Facebook ad got.<\/p>\n But if that’s not your goal, those numbers don’t matter.<\/p>\n If you’re running a big campaign to increase brand awareness, impressions would be a great KPI to track. Here’s the thing: social media ISN’T sales. It’s a doorway to establishing trust. Social media is a place to listen and have conversations. It’s a place to educate and entertain. It’s a place to grow relationships. I have a relationship with ESPN because I follow them on Instagram. They keep me up-to-date with my sports news. And that engagement matters, because I’m more likely to invest in their line of products. A certain level of trust has been established. I trust them to give me accurate, fast information. And because of that, I’ve grown rather fond of the brand. It’s one I trust.<\/p>\n Your brand can be the same way. You have a great opportunity to establish trust. And social media is a phenomenal place to do that. If this is your goal, track the right type of KPIs (like engagement and audience growth).<\/p>\n KPIs don’t have to be scary. Just take a few minutes and think about your goals and what would help measure those goals.<\/p>\nWhat are KPIs?<\/h2>\n
Why do KPIs matter?<\/h2>\n
Are you tracking the right KPIs?<\/h2>\n
\nBut if you’re more interested in getting someone to come in for a consultation, engagement would be a better KPI to track. Why? Because engaged customers are more likely to visit a brick and mortar location.<\/p>\n