How to measure your social media marketing performance

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Are you advertising on social media? Great! Do you know what you should be tracking? Is it even important for your business? In this guide, we’ll take you through the most basic metrics in social media advertising that every company should be paying attention to based on your goals.

If you want to know what’s working or not in your advertising, it is essential to measure the results of your paid campaigns. Because it opens up for great business development, through the insights that advertising provides. If you have valuable data, you can make your investment more cost-effective, and thus make it all the more profitable along the way, in order to maximize the return on your media budget in the long run. Understanding whether and how your campaign is performing in line with your goals also allows you to gain insight into how you should optimize your ads – to achieve even more successful results.

Below we will go through what you should keep in mind when measuring your advertising.

Objectives according to the purpose.

Before you start your advertising, you need to decide the objective for your campaign. You need to have a clear purpose for the campaign to know where to start. Is the purpose that you want to strengthen your brand awareness? Or maybe it’s getting people to buy your product? When you have a purpose with the advertising, the objective of the campaign becomes more clear- and then it’s also much easier to assess how the campaign is performing. This makes it easier for you to optimize results while the campaign is live, and to know which key figures (KPIs) you should be aware of.

Here are some examples of KPIs you can focus on when measuring your advertising – broken down by goal:

Brand Awareness

Reach – How many unique people has your campaign been shown to?

Frequency – How many times has the same person seen your ad on average?

Engagement

Video engagement rate – How does the target audience interact with your video ads?

Traffic – How much traffic to the website / app generates your campaigns?

Sales

Conversions and conversion rate – Valuable events on the website or app, such as purchases or registrations. How many conversions do we generate?

CPA – Acquisition cost, what do we pay for a new customer or registered user?

ROAS – How much money do you get back for every krona you spend?

Follow the behavior of the target group.

Track the behavior of your target audience, after they have interacted with your ad, you can install a pixel for the platform or platforms you choose to advertise on. Then you can choose the events that you want to follow for example: The number of users that come to the website, or how many users read a valuable blog post, or how many conversions the advertisement generates. 

During the campaign.

When your campaign is live, you should keep track of the KPIs you have chosen to focus on. This is to make sure that your budget is spent as efficiently as possible, and so that you do not spend too much of your budget unnecessarily. Reviewing includes – How many impressions do your ads have? If you see that you paid a high amount, but do not reach your target group, then you should consider reviewing your target groups and segmenting them all the more specifically. If you see that your ads do not have high engagement with your target audience, it may mean that the target audience is not relevant enough for the communication you want to share.

When the campaign is completed.

Once you have completed your campaign, you have gained lots of data and insights that you can benefit from for future periods. Compile what worked well and what can be optimized for the next campaign period.

Qualitative data to review:

Data from your target groups – What target groups do you reach through your ads?

CRM data – How does lead generation work?

Existing customer data – How do your ads perform against existing customers?

Ad Data – How has the user interacted with your ad?

Summary.

There are no exact guidelines on how to proceed in your advertising in order to achieve successful results, you have to try things out. It is important to dare to trust the statistics you have received after your campaign and to see how your ads have performed according to the data you have received, so that your ads can perform even better during the next campaign period.

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