The 3 most important indicators of your Social Media campaign
SOCIAL MEDIA CAMPAIGNS ARE KEY STEPS TO ACHIEVING SUCCESS, REGARDLESS OF THE FIELD OF THE COMPANY.
We all know, nowadays, social networks are more than ever an inexhaustible source of interaction between companies and potential customers.
Now, you may have developed an excellent campaign, but how can you measure it? Easy, using indicators or KPIs. You will be able to have a better understanding of your campaign, this way you will know which strategies are working and which ones need to be revised, thus saving you time and effort.
If you want to know more about how to monitor Social Media campaigns in a bold way, keep reading this article, you will find everything you need.
How important are KPIs (Key Performance Indicators) for your Social Media campaigns?
If you are a specialist in digital marketing, you should already know that establishing the right indicators or KPIs is crucial to measure the performance accurately of your campaign. These indicators will let you know if your Marketing Plan is giving the results you expect or if you should make some improvements. Let’s start with the basics, what are KPIs in Social Media?
Key Performance Indicators or also known by their acronym in English as “KPIs” are metrics or, as we have said before, indicators that help to carry out a web analysis on a specific Social Media campaign. It is ideal to establish at least 3 main KPIs based on the main objective of each company. Therefore, it is normal that these may vary according to the needs of each case.
The first thing to keep in mind, before choosing the indicators for your Social Media campaign, is that they are measurable and realistic. Only in this way, the analysis will yield a more precise summary with much more objective information about the performance of the campaign.
Seek that your KPIs always meet the SMART objectives, that is, your indicators must be:
- Specific
- Measurable
- Achievable
- Realistic
- Temporary
In this way, you make sure that your main KPIs allow you to understand what is working and what is not working in your Social Media campaign. Now that you know how important they are in the Social Media world, it’s time for you to learn which ones can be the most beneficial for you.
These 3 indicators will help you to know the performance of your Social Media campaign.
Remember, the first thing is to know where you want to go with the Social Media campaign. Once you have it clear, define the KPIs that are most consistent with that objective. In other words, your indicators should check or verify if you managed to convince your audience to do what you wanted. If so, how many did and how many didn’t? Was it worth the investment? Is it profitable to do it again?
When we talk about Social Network campaigns, the indicators that are usually prioritized are:
- CPA (Cost per acquisition)
This valuable indicator will tell us the cost of each sale achieved through the Social Media campaign in circulation. It is calculated by dividing the investment made by the number of acquisitions. This KPI is ideal for Conversion goals.
For example: If the client has invested 500 euros in the Social Media campaign and has managed to make only 5 sales. So, the CPA of that campaign is 100 euros, which would obviously indicate that the strategy has not worked well, and the campaign must be improved.
- CPL (cost per lead)
This KPI or indicator calculates how much money has been invested to obtain the acquisition of a potential client after a specific campaign. It is calculated by dividing the amount spent on advertising by the number of actual leads acquired.
For example: If on this occasion, the amount of 2,000 euros was spent on the Social Media campaign and only 100 clients become leads. The CPL is 20 euros. Not very profitable for the advertiser, so the campaign must improve.
- ROI (return on investment)
This KPI is crucial to know how much the company earned through the Social Media campaign. The results are much more tangible and consistent with the main objective since it allows knowing if the company won or lost with the advertising action.
For example: Suppose that the Social Media campaign had an investment of 1000 euros and from that amount, 3000 euros in sales were obtained. According to the formula, the ROI is 2 euros, representing the return on investment.
Thanks to these types of indicators or KPIs, advertisers can know the level of profitability of their campaigns according to each objective. As well as these, we have KPIs for reach, bounce rate, number of visits, and many more.
Hire a marketing agency or do it on your own?
If you have reached this point in the article, surely you already understand why it is better to leave this type of analysis to Marketing and Web Analytics specialists. Social Media campaigns can be very difficult depending on the business model and ad intent.
Now, the million-dollar question, try to manage my Campaigns and KPIs without the knowledge or pay for a professional service? Well, I think you already know the answer.
Apart from the fact that it can become somewhat tedious for those who have basic knowledge in the area. You should know that this is not the main reason to leave everything in the hands of a marketing agency.
The most important reason lies in two essential factors for success: Profitability and Efficiency of your Social Media Campaigns. Nothing like having the peace of mind that your business or company will yield the results that you have waited for so long.
If you need help managing your company’s Social Media Campaigns, contact us.
You can check our YouTube channel, where we also talk about several topics that will be very helpful in case you need more information.
