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Kyle C
03/28/2018

Vanity Metrics: The Wrong Side Of The Coin

Every actionable step you take during a marketing campaign comes with data, and you’re presented with hundreds of tools to measure that information. The problem is, some metrics just aren’t that important.

The reality is, it’s these metrics that pop up immediately when you read your analytics, and they can lead you into a false sense of reality. These are called vanity metrics, low hanging fruit that you need to be wary of.

Vanity Metrics?

Data such as page followers, views, subscribers, and other flashy analytics that look good on paper but don’t actually add that much value. They provide positive reporting, however, offer no context for future marketing endeavours — something actionable metrics can do.

Here are five vanity metrics that need less attention, and actionable metrics that you should be following instead.

Email Open Rates

Work out your open rate like this:

Open rate = emails opened/ emails sent — bounces.

Open rate is indeed a reasonable metric to follow in order to ascertain the effectiveness of your email’s subject line and timing. However, there are technical limitations to consider. Many clients or prospects have to load images for it to count as an open, and many people have images switched off by default. Track it, but don’t obsess over it.

Actual Metric To Measure: CTR (Click Through Rate)

Focus on one CTA within your email that brings users to your landing page, and measure those click-throughs. A high CTR for an email that entices users to download something on your website, for example, tells you the email campaign has high lead-generating power.

Vanity Metrics

Blog Post Views

People are reading your blog which means you’ve created great content which is a good first step in any inbound marketing plan. The truth is, however, page views don’t tell you where those views are originating from, whether or now your blog answered any questions, or how long a user even spent on the page.

Actual Metric To Measure: Bounce Rate, Social Shares

Bounce rate is the percentage of people who visit one page on your site and leave without clicking any further. A high bounce rate is a big problem. Maintain attention with a good call-to-action, as well as links to other content and areas of your site. A bounce rate in decline is a great metric to report because it suggests your blog is growing in its interest to your visitors.

You need to consider social shares as well, as search is social!

Search engines like Google and Bing now take Tweets and Facebook shares into account within their algorithms. How many individual page viewers are also sharing your content on their social networks is now a more viable signal of extended SEO benefits from a popular blog post.

Total Number Of Subscribers/Users

It’s easy enough to measure how many people have converted into a trial user or agreed to receive your newsletter. But are people actually consuming your content? Quite often, this product demo or email goes unseen or unused.

Actual Metric To Measure: Path to Conversion, Active Users

What you need to track is how many people return to use your product every day. These are termed ‘active users’. Within Google Analytics, metrics like visitor loyalty and recency are helpful depending on your product. As for an e-commerce based business, take note of repeat customers and retention.

In addition, measure which content drew in leads that converted to qualified contracts or even customers – as well as what actions said leads took within your website before the conversion happened. You can track this by adding tracking links to your CTAs so you can view where a user came from as they moved through the conversion path!

Vanity Metrics

Facebook Fans

The more that companies post content on Facebook, the more newsfeeds need to share their space, and the less users see and therefore consume content from any one company.

Regardless of how many people have clicked ‘like’ once they’re on your page, the vast majority never return and never see or simply scroll past your content in their newsfeeds.

Actual Metric To Measure: Engagement Rate

Instead, make use of Facebook Insights to monitor which posts generate the best engagement (including comments and shares of specific posts).

The higher the engagement level, the higher the EdgeRank score (EdgeRanks is sort of like SEO for Facebook)

Think about the content and conversations that produce the highest engagement and impressions, and produce a plan for how you can best replicate this going forward.

Twitter Followers

On Twitter, it really shouldn’t be about your follower count. People typically follow a myriad of accounts for reasons unrelated to their actual interest in them. Many users, for instance, follow you in hopes a follow back. And if they don’t get it you lose that follow shortly after.

Actual Metric To Measure: Competitor Followers

With FollowerWonk, you can compare your followers to those of your rivals. If there are people following them and not following you, those are potentially missed prospects!

Examine what type of content is most engaged with on a competitor’s page. Then, compare it to your own to see where you’re going wrong. It may even be worth reaching out to those not following you and demonstrate the value of following you, too.

Of course, you shouldn’t disregard any of the aforementioned vanity metrics! Before you can add or erase certain data from your analytics reports, ensure you and your team have defined your goals and the data points you’ll use to measure whether or not you’re achieving them!

Vanity Metrics

At GMT we’re experts who take pride in providing our clients with the full spectrum of data behind their campaigns. Not just the flashy stuff! Call us today on 1300 332 256!

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31/05/2022

The Ultimate EOFY Checklist For Your Small Business

Unless you’ve been living under a rock, you know the end of the financial year is approaching. That means it’s probably time to get your social media marketing in order. But if you really want the end the financial year on a high note, there are some things you’re going to want to do. Below is our ultimate EOFY checklist for small businesses, guaranteed to help you end the financial year with a bang!

Get More Traffic’s Top 10 EOFY Tips

At GMT, we’re helping you get ready for the EOFY. That said, here is a checklist to help make the preparation just that much simpler. 

Review And Coordinate Your Accounts

Do you have any outstanding debts or vice versa? Say you’ve paid for Google Ads in Australia but your account is overdue or maybe you’ve provided a service to someone else who now owes you. Use this period to get on top of what you’ve paid to others and what they’ve paid you. You’ll want to make sure you pay vendors any money owed as well. Sorting all this out means you won’t have to worry about it being taxed next year. 

Keep Records And Back Up Your Data

You’ve heard the term, ‘I’ve got receipts’, and well there’s no hard evidence like proof of purchase. Additionally, we recommend backing up any crucial files or data onto a hard drive independent of your computer. You know, for safe measure. Trust us, if systems fail you’re going to thank yourself for being so proactive. 

Review Your Insurance

While you’re at it, you might as well review your insurance policies for any updates. Doing so will allow you to determine if you’re still on a package that’s right for you and your business. It’s also a great opportunity to update your insurer on any change in circumstance. 

Conduct An Audit

Count and recount your inventory so you know exactly what you have and what you need. Doing so will allow you to match what’s on paper with what’s on hand. 

Use Your Calendar

Planning is key so make a note of all your upcoming due dates, including by when you need to lodge your tax returns. 

Lodge Your Taxes

In Australia, the ATO expects you to lodge your taxes on or before October 31st so we recommend getting ready early. Organise your expenses and other tax deductions so you can have your return ready for submission sooner rather than later.

Rectify Bookkeeping Errors

With the financial year ending, you’ll want a fresh start going into the new year. We recommend going through your bookkeeping and identifying any transaction errors on your bank accounts and credit card statements.

Implement And Update Management Software

Management software makes keeping track of your inventory, finances, and other business assets easy. While we also encourage you to check all of these things manually during this time, implementing and updating your management software will save you time and resources in the long run. 

Prepare Financial Reports

Running financial reports helps point out where your business rests financially. Additionally, they’re fantastic for helping businesses outline and plan their budgeting. There are three financial reports you’re going to want to run this financial year and every subsequent year after. They are:

Balance sheet
Cash flow sheet 
Profit-and-Loss (P&L) statement

Prepare For The New Year

If you’re reading this checklist, you likely want to get on top of everything before the new financial year rolls around. By doing so, you’ll be able to figure out how your company performed over the past year and make an action plan for the future. Take a look at what worked and what didn’t and look for areas in which you can improve. Set goals and establish timelines to help you stay on track. 

Make The Most Out Of Your Social Media Marketing With The Specialists At Get More Traffic

Is your website a highway at peak hour? Because boy, you’ll be getting a lot of traffic with the help of our digital marketing experts. One of the leading digital marketing agencies in Brisbane, we’re passionate about helping businesses all over Australia harness the power of social media marketing to take their bookings to the next level. So, if you’re ready to give traffic to your website the green light and learn more about marketing, contact the team at Get More Traffic today!

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25/05/2022

How to Start Planning Your Best Financial Year Ever!

The end of the financial year is fast approaching and many businesses are scrambling to create some last-minute campaigns to increase their revenue.

However, just as important as the end of the financial year, is the beginning of a new one. While it’s always good to finish strong, it’s also important to ‌get a good head start against the competition. This means having a plan already set in place to help you jumpstart and launch your way towards success.

For that reason, we’ve put together a couple of tips on how you can get started planning the new financial year with your team and organisation.

1. Review Your Existing Business and Marketing Plan

The start of a new financial year is always a good time to review your current business and marketing plans in order for you to create a sound strategy moving forward.

As you review your business plan, make sure that it includes the following:

  • Your mission and vision statements
  • What products, packages, and services you’re currently offering
  • Your company structure, including the key staff and leaders
  • An overview of how you plan to make sales
  • A map of your basic customer journey

This quick review of your company’s basics and foundations should help remind and refresh you of the general overview of who you’re serving and what problems your business solves. 

This quick refresher should also help you reexamine and reevaluate your current goals, plans, and offerings and whether you’ve met and accomplished them, and what you’re plans might be moving forward.

 

2. Review the Past Year and Your Current Status

Before you can set a path for where you want to go, you first have to look back and see how far you’ve come.

Do a review and an executive summary of the past financial year. What goals were established? Which goals were achieved? Are there any areas in your business that you could improve on? This would be the perfect time to get feedback and suggestions from leaders and managers.

Take a day or two to meet with your staff and stakeholders to discuss the following points:

  • A SWOT analysis (strengths, weaknesses, opportunities, and threats)
  • Does your current organisational structure need to change to better suit the organisation’s needs?
  • Are you setting the right KPIs for your workforce?
  • How have sales performed in the past year? What milestones were achieved?
  • Competitor analysis–what areas are they succeeding in and how can you match their growth?
  • Are there any plans set in place for unforeseeable challenges?

It will take some time to gather all this data and information, and much more to discuss them amongst your leaders. But achieving a good and thorough understanding of how your business has performed over the past 12 months will help you ‌move forward with setting the right goals for growth.

 

3. Decide on Your Future Goals and Targets

Now that you know where you’re coming from, it’s time to set your sights on the path ahead. 

Think about what projects, campaigns, and goals you want to accomplish in the next 12 months. Do you want to further increase revenue or sales? Is your goal to pay off any business debt? Are you looking to expand, launch new products or projects, or pivot in a different direction?

Take ample enough time to flesh out your goals for your business. Be specific. Set deadlines and timeframes so that things continue to move forward, and clearly communicate these goals throughout your organisation.

 

4. Create a Plan to Bridge that Gap Between Your Current State and Your Future Goals

Now comes the part where you have to work at bridging the gap between hope and reality. After all, every journey begins with a single step.

To achieve that, you need to do the following:

  • Breakdown each of your goals into several milestones.
  • Set deadlines for each milestone
  • Assign a leader or manager to oversee the accomplishment of each goal
  • Lay out the tasks that need to be accomplished in order for those goals to be achieved.
  • Set KPIs for each of the teams involved

When working on a strategic plan, always involve the key stakeholders to help provide proper feedback and guidance on the best path that you can take. The better you’re able to break down the steps necessary to accomplish your goals, the better. Start with the end in mind, and work backwards to determine how you can get from A to B.

In implementing that plan, however, sometimes you need an excellent partner to help you execute and achieve your goals.

Don’t worry! Because with the help of our digital marketing experts here at Get More Traffic, we can help you achieve many of your business goals for the new financial year through proven expert digital marketing strategies.

We’re passionate about helping businesses all over Australia harness the power of digital marketing to take their sales to the next level. If you’re ready to give traffic to your website the green light and learn how to increase sales and engagement through an always-on marketing strategy, contact the team at Get More Traffic today!

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