Social Media Engagement: Are You Tracking What Really Matters?
Inside the world of marketing these days, tracking your social media engagement has become for most entrepreneurs some sort of holy grail. All efforts constantly pushing to create content that drives Likes, Loves, Comments and Shares through the roof.
But does high social media engagement lead to what matters most in your business?
Sometimes we can overlook that all roads in business lead to one goal… profit. ☝💸
So let’s hope this article helps you strike the balance between feel good Facebooking and bottom line boosting marketing methods.
Likes and comments don’t pay the bills
We’ve all done it right? You share that inspiring post about your business, crafting the perfect rapport building copy and attach it to an exquisitely filtered photo.
And then all those thumbs ups, hearts or grateful comments come flooding under your post and you feel absolutely amazing. Your audience is loving your content and is showing their appreciation for it… or are they?
I mean you’d think all that engagement translates to high conversions and stacks of sales too.
But far too often (more than we’d like to admit) we automatically believe that having high engagement rates is a representation of our business success.
But as a mentor of mine shared with me a couple years back…
“Comments don’t pay the bills.”
What does? Sales of your product and service.
And this is why as effective marketers we must do our best to track both our social media engagement as well as our key metrics such as click through rates and conversions.
By leveraging both you’re setting yourself for long term gains and consistent growth.
Even The Facebook Gods Agree
Don’t believe it? Check out this mind blowing snippet from a recent Marketingland.com article.
“Facebook agrees engagement doesn’t prove success. The company admits in its own marketing materials that ‘industry research has repeatedly shown that engagement rates do not correlate with the outcomes ultimately used to judge the success of marketing efforts.’ Facebook’s head of marketing science, Brad Smallwood, calls engagement data ‘irrelevant’ and says it has ‘no more chance of predicting actual business outcomes … than a random guess.’ No wonder Facebook’s case studies nearly always feature business metrics like sales and awareness, and almost never highlight engagement.”
Think about the importance of that previous paragraph for your own business. If the juggernaut Facebook recognizes that social media engagement isn’t the most vital metric to track for your ROI then I’d say we’d all better listen up.
But the question then becomes… what do you track?
It always comes down to your “triple threat” of marketing ROI.
Leads, Sales and Lifetime Value
No matter which medium you’re leveraging within your marketing, the best way to track if you’re succeeding in your business is through this holy trinity 🙂
So even though social media engagement might be all the rage these days, you must balance those stats with the hard science of direct response marketing.
For if your social media engagement metrics aren’t creating an uptick in the amount of leads flowing into your your funnel…
Sales being processed and cash flow surging into your accounts…
Or increasing the lifetime value of your customer base then you could find yourself on a fast track to failure.
At the end of the day, your goal is profit not just popularity. Now granted, if you can combine both then you’re grinning and winning all the way to the bank.
The key is to always…
Find Your Balance
Even though we’ve discussed how vital your core income producing stats are to maintaining the lifeblood of your business, it’s not to say that social media engagement can’t have an impact.
Within the current world, social media platforms rule the airwaves. Especially on the most precious digital real estate available which lies right in our customers hands… their smartphone.
So like everything in life, you want to find your balance.
How can you craft messages that your audience raves about, shares like wildfire and causes your social media engagement to skyrocket…
All while ensuring that those results simultaneously attract more highly qualified leads and create a surge in your sales. Balance is the key.
There have been reports that say the CEO of Under Armour Kevin Plank has a sign in his office to remind employees of their number one goal.
I believe this straightforward sign wraps up perfectly how to prevent social media engagement stats from blinding you to what ultimately builds your success.
The sign says, “Don’t forget to sell shirts and shoes.” 💵💰💳
Jason is a key member of the marketing team here at AWOL. He brings a wide range of skills sets to the table such as copywriting, content and email marketing. When he’s not helping to crank out the latest marketing campaigns, he is addicted to spreading an attitude of gratitude through inspirational speaking, collecting fedoras and anything Bruce Lee… Waka!