We spend so much time curating our photos and crafting the perfect caption—for what? Sure, there’s the intangible value of an aesthetically-pleasing on-brand feed. But, how do we connect the analytics to the creative and offer data-driven storytelling?
Understanding Metrics: The Basics
Impressions
Impressions measure the number of times your post was seen. This can accumulate when a post is viewed multiple times by the same user. Impressions are a great way to determine the virality of a post. For instance, if a user views your content and their friend shares the same post and they see it again, this can lead to what we know as viral content.
Reach
Reach refers to the number of users who have seen your post. In contrast to impressions, when the same user views the same post multiple times, the reach value will not increase. Reach is important because it shows you how relevant your content is to your audience. The higher your organic reach, the more useful your audience found your content, and vice versa.
Engagement
Engagement counts the number of individual interactions made on your post, including clicks, likes, comments and shares. Engagement represents a deeper level of interaction with your content. This makes it an important metric in determining the relevancy of your content. Higher engagement signals to Facebook that more people would be interested in this type of post, thus increasing impressions and reach.
Conversion and Bounce Rates
Within Facebook Ads Manager, you can select “Performance and Clicks” to determine the number of clicks your ad generated, the Click Through Rate (CTR) and Cost Per Click (CPC). According to Wordstream, the average CTR across all industries for Facebook ads is 0.90%, and 1.16% for beauty, specifically. The average CPC for all industries is reported as $1.72, and $1.81 for beauty. These provide good basic benchmarks to assess the success of your campaign.
From Google Analytics, you can see a more thorough picture. It breaks down the social media source (e.g. Facebook, Instagram, Instagram Stories etc.) and how these users engaged with your site. From assessing bounce rate, average session duration, transactions and e-commerce conversion rate, you can make more informed decisions when it comes to your ads.
Bounce Rate
Bounce rate is the rate at which users left your site without interacting with anything on the landing page. Generally speaking, 26-40% is an ideal bounce rate. 41-55% is average, 56-70% is higher than average and 70% up may be cause for concern. That said, each industry is different and it also depends on the objective of your landing page.
A helpful trick is to take advantage of Google Analytics’ benchmark feature (Audience> Benchmarking> Channels). You can add your industry vertical and assess your performance against other Google Analytics accounts or properties in your industry.
You can find impressions, reach and engagement via Facebook Insights, and social traffic conversion and bounce rates through Google Analytics. But, this can become a cumbersome and time-consuming task to cross-reference platforms to make sense of it. Our new Advanced Analytics reports can consolidate all the data into an easy-to-digest format, which makes it easy to build a comprehensive digital marketing strategy.
Followers and Page Likes
Our proprietary Earned Media Value (EMV) algorithm will log day-to-day follower count changes. We use this to calculate an estimate of how many users viewed and engaged with your Instagram posts. Based on your advertising CPM (Cost per 1,000 impressions) or industry CPM, our algorithm will assign a dollar value to each of your organic Instagram posts. This can be especially helpful in building both your content and advertising strategies.
Reporting and insights can take up so much valuable time and end up detracting from the marketing strategy itself. Our team is here to help. Get in touch to learn more about our Advanced Analytics reports and streamlining your data tracking.
Comments are closed.