Every organization has its own set of key performance indicators (KPI) to measure the success of its campaigns. According to Google, 63% of the leading marketers use them to develop a single integrated view of the customer. Yet most of these marketing KPIs are often the source of much debate and interpretation.
The problem with using KPIs to measure success is that they don’t usually tell the whole story. Let’s say you’re running a campaign to increase brand awareness. A typical vanity metric is the number of followers, views, or likes your campaign generates. But what if those are primarily bots or inactive users?
In this case, the KPIs don’t give you an accurate representation of your campaign’s success. Continue reading to learn about the dangers of using outdated KPIs and how to ditch them for good.
The Dangers of Using Outdated Marketing KPIs
1. Give you a false sense of progress
If you’re only looking at KPIs that don’t give you the whole picture, you might think your campaign is performing well when it’s not. It can lead to complacency and a lack of motivation to improve your results.
2. Outdated marketing KPIs can lead to poor decision-making
Basing your decisions on inaccurate KPIs might cause you to make sub-optimal choices that can hurt your campaign in the long run. For example, you might invest more resources in a social media platform that doesn’t give you a good return on investment because your KPIs told you it was performing well.
3. Waste your time and resources
Outdated KPIs can cause you to invest time and resources in activities that don’t help you achieve your goals. You might spin your wheels and go nowhere if you’re not careful.
How to Drive More of “The Right” Followers, Views, & Likes for Your Brand
1. Set realistic goals
If you want to increase brand awareness, don’t just focus on increasing the number of followers, views, or likes. Instead, think about ways to reach your target audience and what kind of engagement you want to generate.
2. Use suitable marketing KPIs
You can use many KPIs to measure success, depending on your goals. Some relevant KPIs for social media campaigns include:
- Reach
- Impressions
- Engagements
- Click-through rate
- Conversion rate
3. Track your progress over time
Tracking your progress lets you see if you’re meeting your goals. Checking in periodically also allows you to make necessary adjustments to improve your results.
4. Compare your results to industry benchmarks
Setting your results and industry benchmarks side by side can give you a good idea of how well you’re performing. If you’re unsure where to start, several resources can help you, such as Socialbakers and Rival IQ.
Conclusion
Vanity metrics may have been the key to success in years past, but times have changed. At Instantly Relevant, we can help you develop a social media strategy focusing on quality rather than quantity.
Let’s chat at https://calendly.com/instantlyrelevant so you can start seeing accurate results from your social media campaigns.