Great news, You want to start running effective social media ads!
The following question which will usually follow, seems to be something like…
“So how many leads do you expect me to get?”
Whilst generating leads is a top priority, it’s important to note that social media advertising won’t necessarily produce miracles (although we can definitely try). You will need to set realistic goals and expectations from the off, with a well-thought-out strategy.
The specific metrics you should focus on in your reporting will depend on the unique strategy and goals of your campaign. While the CEO will naturally be interested in the return on investment (ROI), other managers within the organisation might be curious about the intricate steps you took to achieve that ROI.
Striking the right balance involves setting achievable expectations and sharing relevant KPIs that benefit both the client and the overall business, validating their investment in advertising.
It’s worth noting that there’s no one-size-fits-all solution for every client or campaign. What drives results for one client might have different outcomes for another. This is where tailoring your approach and understanding the data you receive comes into play.
Think of the initial stage of social media marketing as making introductions. When we start advertising, we’re reaching out to people who might not know about our company yet – they’re what we call a “cold audience.” Asking them to buy right away is like expecting instant friendship after a quick hello.
This is especially true if our company serves a niche market, where only a specific group might be interested in the future.
The exciting part is, that even though results might not be instant, we’re planting seeds. These might not turn into customers immediately, but they’re potential buyers down the line. For CEOs, it’s like casting a wide net into the sea of possibilities. We might not see immediate results, but these initial efforts set the stage for future growth.
KPIs for Brand Awareness include:
Reach, Impressions, and Clicks to the website.
As we progress to the second stage of the marketing funnel, our audiences have warmed up a bit, making it an opportune time to encourage relatively light engagements.
If your product or service appeals to a wide range of people – think sustainably produced chocolate bars – utilising a conversion tool with a direct “Buy Now” call-to-action makes sense.
However, if you’re a niche-oriented logistics company offering specialised services, your strategy will need a deeper dive into the data to shape your next move.
Take LinkedIn, for example. A great starting point is examining who’s engaging with your awareness ads – delve into job titles, industries, and more, particularly focusing on the highest CTR.
With this insight, you can then craft ads that specifically target job titles and industries, prompting them with lower-commitment actions like downloading a white paper, visiting your website for more details, or initiating a conversation with a team member.
KPIs for Website Traffic/ Conversions
Reach, Impressions, Clicks to the website, Cost per click, Leads, Cost per Lead and Click Through Rate.
Step three of the marketing funnel can also be used alongside step two. At this point, the audience not only knows your name but also what you do!
They’ve likely strolled through your website, and maybe even popped a thing or two into their virtual cart. Some are your cherished repeat customers, while others have casually scrolled through your social media pages.
Now, you’ve got their attention. Some might have abandoned their cart temporarily, lost in the hustle of life. Others are itching to make a new purchase. It’s now the perfect time to send an ad their way. It’s a friendly reminder of the treasures they left behind or making a purchase they’d be kicking themselves for if they missed out.
Don’t forget to sprinkle in a dash of temptation with an offer… 10% off, a time-limited deal, or a gentle nudge to get in touch pronto. Whether they’re up for a chat, booking a slot, or making a purchase, it’s time to seal the deal. This stage of the funnel is all about driving sales with a hard-selling CTA and generating those important leads!
KPI’s for Retargeting:
Clicks to the website, Cost per click, Leads, Cost per Lead and Click Through Rate and ROI.
You can also use Google Analytics in all stages of the social media marketing funnel to help support the activity of your social media ad campaigns.
Experiment with comparing the timeframe when your ads went live to a corresponding period prior. Check whether:
To conclude, when setting up social media ads you will need to ensure that your metrics are tailor-made for your performance goals. The key performance indicators (KPIs) you establish when you kick off a project or campaign should represent how you or your team are doing.
These KPIs should offer insights that can be put into action, shedding light on what strategies are clicking and which ones need a tweak. In short, they should be your compass for figuring out the most effective path forward.
Feeling overwhelmed? No need to worry. We’re here to simplify the process and craft customised solutions for you and your company. With our experience spanning various industries, we specialise in developing advertising strategies that precisely align with your goals.
It all begins with a consultation where we take the time to familiarise ourselves with your company and objectives. This understanding allows us to create optimised advertisements tailored to your specific target audiences. We then construct this audience, refine ad copy, and establish campaign structures. This process is typically completed within a day.
For ongoing campaign management, we dedicate around half a day to carefully analyse campaign data. This enables us to provide informed recommendations and strategies that enhance the effectiveness of your advertisements.
We partnered with an Automotive company, that where utterly new to social media advertising. In this collaboration, we devised an awareness campaign utilising a carousel ad set. This allowed us to identify which products were the most captivating to the intended audience.
Not only did this generate a sale worth £2,500, but we built upon insights using our KPIs to curate bespoke ads – leveraging data such as company industries and job titles.
The outcome? Ads are designed with heightened relevance and intent, prompting the audience to engage and inquire, or even make purchases.
There’s a lot more to it than meets the eye! If you need help with your social media strategy, speak with our social media specialists today!