Best Social Media Metrics To Focus On In Your Campaigns.

Best Social Media Metrics to Focus On in Your Meta Campaigns

Meta marketing is tough and it can get extremely frustrating too but the key to remember is that the more you give to it, the more it gives back. When running a campaign on meta, you analyze the performance by using certain metrics as your yardstick. But before getting into the nitty-gritty of social media metrics, it’s important to stress that the metrics would depend on the aim/objective that you want to achieve. Every business has different aims and objectives, hence there’s no universal measure. The first step that comes before analysis is setting your objective for analysis. Keeping the metrics aside, you have to understand their funnel and ask:

-??????What is the overall goal/ objective of the business?

-??????How are you going to measure that business goal?

-??????How does your campaign serve that business goal?

-??????How are you measuring, if your campaign is serving that business goal?

ROAS

Social media marketing is an important impetus for growth that keeps a business afloat in the cutthroat market competition. And ROAS is one of the most essential and useful metrics for social media. A common misconception among marketers is that the metrics can be standardized and applied across every client and type of business. This isn’t exactly the case.

This is the reason that ROAS is an important metric because it’s used like CPC or CTR, or any other metric. It is used as a tool to analyze performance, profitability, variation, etc. Simply put, ROAS is one of many factors that goes into a marketer’s analysis of performance. It consists of multiple variables such as CPA, AOV, CPM, CR, the offer, etc. On Meta sites (Facebook and Instagram,) ROAS is an output of CPA & AOV. Hence if you want to optimize for ROAS, it's better to focus on CPA & AOV.

CTR

CTR or Click through rate is an indicator of the number of clicks you receive on ads, with respect to the impressions that your ad receives. It is calculated as the number of clicks divided by impressions. CTR is an important metric for various reasons. First, it helps you gauge your ads and compare their relative attractiveness with other offers. Second, if you have a higher CTR, your CPC and CPAs would automatically be lowered.

Last but not the least, you can use CPR to analyze the relevance of various search queries, add negative keywords, etc. You can improve your CTR by optimizing broad match modifiers, expanding negative keywords, moving around your geographic target setting, and adding ad extensions.

Bounce Rate

Generally, a bounce rate is when a user visits your page. But a bounce has to start somewhere. And that’s when a user clicks on your site. It doesn’t matter where a user comes from. It could be googling search, social, or even a direct link from an email. There are two types of bounce rates: high bounce rate and low bound rate and depending on your site, you’d want either of the two. For conversion optimization, understanding the bounce rate is extremely important.

Hook Rate

Hook rate is the percentage of people that viewed at least 3 seconds of your content/ad. Hook rate helps you make a better decision with respect to your creatives. A high stop rate means high interest, whereas a low hook rate means low interest. You can often turn a loser into a winner just by tweaking the hook. It is hands down the most important part of your ads. The combination of hook rate and stop rate can give you a very clear perspective on where you can improve your ads.

Engagement

Social media would only show people what they actually want to see and engage with. There are many factors that contribute to whether or not someone will engage with your content on meta platforms. It's important to consider the audience, where they are in the funnel, what type of content (promotional, valuable, evoking), you are putting forth, and the timing of your post. You measure engagement by taking the number of engagements and dividing it by the number of impressions.

The engagement rate is one of the most useful metrics for measuring the effectiveness of meta-campaigns. There are a variety of different types of engagements that can be measured, including clicks, likes, shares, comments, and saved. However, what makes engagement a helpful metric is it reflects how many people saw your post.???????

Conversion Rate

Conversation rates help to analyze your campaign performance, channel performance and to spot obstacles in the marketing funnel. It helps you monitor your campaign. The rate itself depends on what the conversion rate means for your business. There are hundreds or thousands of decisions made in your customer's journey, all with varying success rates. Some can be measured, and some can't (yet). You need to determine which ones are important for your business.

Age and Gender Metrics

Age and gender metrics are standard marketing segmentation tools that are extremely valuable for running a successful meta-campaign. It's extremely important to define and understand your target market to build a better picture of your ideal customers. And for that, you would really need to come up with some creative ways to find your target audience. Some important metrics for segmentation marketing are:

-??????Demographic metrics – Age, Gender, Race, Ethnicity, Income, Education, Occupation, Family Size, Religion, Social class, etc.

-??????Psychographic metrics – Personality Attributes, Motives, Lifestyles, etc.

-??????Geographic metrics – Region, Urban, Rural, City Size, County Size, State Size, Market Density, climate

Conclusion

As the saying goes, what cannot be measured, cannot be improved. Hence, with meta campaigns, you need data and testing. You need to test all the important metrics in order to see what works best for your campaign to build some ground practices. The cookie-cutter and formulaic approach that marketers have been honing over the past years has boiled down and evolved into a set of metrics for running effective campaigns. So take your business goals and audience funnels and decide how the metrics you pick fit into your user path.