- Steph Stonecipher
- February 13, 2019
- 0 Comment
In one of my recent two-minute drills, I discussed the top 10 metrics you need to know about when analyzing your ads. If you missed that, you can check it out here.
Today, in this two-part series, I want to dive a little deeper and show you how to track these metrics.
There are a couple of reasons these metrics are important to both you and your business. First and foremost, they’re a good way to see if your ads are successful. Are there any sales yet? What’s your conversion rate looking like? Second, it can save you a great deal of money in the long run if you’re paying attention. Have you missed the mark with your targeting or content? You don’t want to let ads that aren’t working run for too long. Also, you want to create an analysis schedule to ensure you’re being consistent with your efforts. After all, you can’t measure what you don’t track!
Wondering what the metrics are and why they’re important? Let’s get started!
This one should be pretty straight forward. This is your brand and how well your customer base or people in general recognize it. Think of your logo, your brand colors, or even your moto. Some examples of strong branding would be Coca-Cola, Nike, or Amazon. Nike is known for a lot with their brand, but two big items come to my mind first: their logo and slogan.
Awareness can show itself in different ways through your analytics, including:
The easiest way to track these (or any) metrics is to:
1. Decide what metrics you will track
2. Create a spreadsheet to input your data
3. Create your analysis schedule (weekly, monthly, etc.)
4. Schedule time in your calendar to go through your posts and input the data into your spreadsheet
Audience Growth Rate
As you may have already guessed, audience growth rate and brand awareness go hand in hand. There are a couple of metrics that are my favorites and this is one of them. Aside from the obvious business benefits of increasing your audience growth rate, watching your brand gain new followers is an incredible feeling!
The equation goes like this:
Start with tracking last month’s numbers to gauge your total number of net followers and to obtain your percentage. Then, you can monitor that percentage month to month, to ensure that your growth rate is increasing and you’re seeing stable growth in your community.
The post reach is just that — how many people saw your post. This one of the easiest metrics to find, but it can be tricky to gauge because it is greatly affected by your post timing and type of content. But, because the number is given to you, post reach is very easy to track and analyze.
If you’d like to know more than just your reach, you can calculate your post reach percentage by taking your reach, dividing it by the total number of followers, and then multiplying by 100.
I hope that helped you understand and track 3 of the major metrics when analyzing your ads. Stayed tuned for Part 2 and you’ll be all set to show off your new analytical skills!