When asked what types of metrics they use to measure success, the majority of marketers responded with the good old clickthrough. Now, I’m all for “if it ain’t broke, don’t fix it,” but we’re starting to see that, especially with social media, counting clicks isn’t the best way to gauge success.
So what is? eMarketer has seven answers in their new book, “Digital Impact: The Two Secrets to Online Marketing Success.” Written by eMarketer CEO and co-founder Geoff Ramsey and Vipin Mayar, EVP of McCann Worldgroup, the book states that there are seven types of metrics, that if mastered, will give you a clear picture of how you’re doing.
Let’s take a closer look at a couple of them.
Qualified Reach, or Qualified Visits
With this metric, you don’t just count heads, you count heads that performed a specific action. This is for all those people who think they’re king of the hill because they have 10,000 Facebook fans or 50,000 Twitter followers. If half of those followers are spammers trying to sell you, they’re not worth counting. Same for all the dead accounts or the folks who followed you on Facebook for a coupon then promptly hid your feed. By counting only those folks who followed a link, or shared a piece of content, you’re getting a much truer picture of the effectiveness of your campaign.
Like qualified reach, engagement isn’t about showing up, it’s about what you do when you get there. The easiest way to measure engagement is to look at the time spent on site and bounce rates. If the majority of people who hit your site leave a few seconds later, your content needs to be tweaked. If you post videos, are people watching them through to the end? Are they using the mobile app that they downloaded from your company? Getting consumers to come to you is one thing, but keeping them is another. Engagement score is how you measure that kind of success.
Also included on eMarketer’s list is brand perception lift, efficiency metrics, end action rate and the ever popular ROI. All of these are excellent tools for not only measuring success, but for helping you plan future campaigns. For those with less manpower, money or just getting started, concentrate on qualified reach. Choose your qualifying action, then focus your efforts on getting that number to rise. Do a good job there and the rest will follow.