Perfecting your ad strategy takes time. You need to find the content, format, and platform that resonates with your audience and helps them spot your brand in a vast sea of competition.
Clicks, likes, comments and shares are great indicators that you’re connecting with your audience, but you can’t rely on them alone. You need numbers-based data to show you when you’re on track and indicate when it’s time to course correct.
Luckily, each social media platform comes with its own analytics dashboard to help you track your campaign’s reach and relevance. While your specific goals might play a role in determining which metrics you track, there are several that apply to every add campaign.
If you really want to know if your ads are working, you should track:
This is where those likes, comments and shares really matter. When your audience is responding favorably to your product, their engagement will increase. If you’ve seen a substantial increase in engagement rate, you know you’re doing something right, but if your numbers drop off suddenly, you’ll need to pinpoint why.
- Impressions and Reach
Reach lets you know how many people are seeing your ad. Most platforms tally the number of impressions, or views your ad receives. You’ll also be able to calculate the number of unique views your ad receives as well. Each major platform calculates impressions differently, but they all give you a clear picture of how often your ad is being seen.
Retention is an important metric for video ads. It lets you know exactly how long your viewers are watching. If they stick with you until the end, you’ve nailed your video strategy. If they bounce after the first 5 seconds, you’ve still got some work to do.
It’s good to keep an eye on your follower numbers. If your marketing strategy is on track, you should see those numbers growing steadily. Conversely, if you see a ongoing or sudden loss of followers, it’s a warning sign that you need to make some changes.
- Share of Voice
This lets you know who’s talking about your brand versus your competition. It determines what percentage of the overall conversation about your industry is focused on your brand. It helps you measure your impact and outshine your competition.
This is the big one- you’re spending money on your marketing, and everyone wants the most bang for their buck! This metric varies by platform, but most will help you track your cost per click, click through rate, referrals, and conversions. These numbers ensure that you’re making the most of your advertising budget.
If you’d like to learn more about navigating your analytics dashboard, or boosting your marketing efforts, we’d love to help. Reach out at https://resonetrics.com/contact and let’s talk about how we can do more with your marketing money!