Using vanity metrics to measure the performance of content campaigns on social media is perhaps one of the simplest things to do in marketing, but also one of the most difficult.
It’s simple because vanity metrics are easy to obtain in large numbers – all platforms supply them; it’s difficult because they are often ambiguous when it comes to reporting a return on investment (ROI) or value to a business. It’s this second point that is the thorn in the side of many marketers struggling to discover the true value of a vanity metric to a business.
In this article, “vanity metrics” include impressions, “likes,” shares, comments, followers, open rates, views, traffic, time on site, bounce rate, and many more. Often called “engagement metrics” or “consumption metrics,” they simply are the most-used metrics in social media, content marketing, digital advertising, PR, and inbound campaigns to measure the performance and success of our marketing efforts.
As far as the numbers go, vanity metrics look great on paper. But the sheen on these numbers fades when you try to use them to explain important business outcomes like ROI or customer lifetime value (CLTV); they become hollow digits that contribute little substance to proving your marketing is making money.
The sheen of vanity metrics fades when explaining #ROI or customer lifetime value, says @LogocracyCopy.
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A case in point, the number of “likes” earned from a Facebook post rarely correlates to the number of products sold on a store shelf. Some would argue that there is no correlation at all. Indeed, it is possible to make more sales from a post with only one “like” than from a post with 10,000 “likes.” The number of engagements is usually irrelevant to the number of sales. There is no clear correlation or causation between the …read more
Source:: content marketing