Nearly all businesses these days will have some form of social media presence; this can be crucial to building a following and growing your client's loyalty by connecting with them regularly. Whether you have a marketing calendar, a strategy, or just post whenever you remember, there are a few things to look out for that can help to improve the success of your future posts.
These days we’re lucky with how easy different social media platforms make it for us to access our accounts ‘insights’ or Analytics; Facebook, Twitter and LinkedIn are especially good for this. But how useful is it really if you don’t understand what it all means? You may be looking at your insights dashboard and thinking to yourself “what is the difference between ‘reach’ and ‘engagement’?” well for that question, and many more, we have created a little cheat sheet for you so that you can understand the social media insights for your business. There are also a few more abbreviations that are used in the marketing industry that we think would be helpful for you to know.
Reach/Impressions – Just to make things confusing we have two words that basically mean the same thing; They refer to the total number of people who have seen your content.
Bounce rate – The number of people who land on your website page but leave without clicking through to any other pages or links. You want to aim to keep this under 40%; keeping the bounce rate low shows your content is intuitive to your viewer’s needs. Bounce rate is also a term used for email marketing, in this instance, referring to an email address that the email was unable to send to – due to the email address not being active or the mailbox being full.
Engagement Rate/Reactions – A measurement of how much interaction your content has received e.g., likes, shares, comments etc. Engagement rate is measured as a percentage whereas Reactions will be listed as a number. An average engagement rate of 5% is what you should be aiming for.
Lead – An individual or company that has shown interest in your content but is not yet a customer.
CTA – Call to action. This usually comes in the form of a button, or a hyperlink that encourages the audience to click the link provided.
CTR – Click-through-rate. This lets you know how many people are clicking and following your links compared to the amount of people who are viewing the post/email. The average CTR across all industries is 1.91%.
PPC – Pay-Per-Click. This is a metric that will show you the average cost of any paid marketing/promotion that you have activated. It will give you an idea of how much it is costing you when someone clicks on your ad.
ROI – Return on investment. This measures the profitability of the investment you make in your marketing.
Conversion Rate – This is the percentage of visitors/viewers that ‘do what you want them to’ (e.g., follow a link, make a purchase, subscribe to emails.) Generally, a ‘good’ conversion rate is between 2% to 5%.
We have recently created some Marketing Tool Kit packages to assist with other businesses’ digital marketing. These packages offer a range of creative assets that we would create for you. All you would need to do is post it. This is guaranteed to save you time, no more hours wasted online looking for the right image to use that is copyright free! No one ever wants to settle for the wrong picture, especially when what you have got to say and share with the world is so important.
You can view our marketing ‘toolkits’ on our marketing page, show me!
Now that you have come to the end of this blog post we hope that you are feeling a little more versed in marketing lingo. We have shared with you a simplified description of these key marketing elements, if you need any more information then don’t hesitate to contact our digital team. We have more content from our Your Business in Your Hands series that cover more areas of digital business management.