Key Metrics to Determine Succcess

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Transcript

Welcome back. Now that you all have thought about the goals and ROI of your campaign, it's really important to think about what to actually measure. There's a lot of data out there and it can get overwhelming. But there are a number of metrics that can be really helpful as long as you understand what they're trying to tell you. One common metric found on social media is frequency. This means the number of times that a person sees your ad on average.

Ultimately, you want that number to be between three and five. In most cases, think about your own social media use, do you really want to see a Facebook ad 20 times it gets a little overwhelming. Facebook, for example, will calculate this by the number of impressions of the ad divided by the reach. And an impression is the number of times your ad was actually viewed. This can include a person seeing your ad more than once, so keep that in mind as you see that number. Just because a ad earned 100,000 in prizes doesn't necessarily mean that 100,000 people saw that advertisement.

And that's where reach comes in. Reach is the number of individual people who actually saw the advertisement. It doesn't matter how many times they saw it, though, which is why we look at things like frequency to understand how many times they saw the ad. More often than not, this number is going to be less than or equal to the number of impressions. If it's more than a murmur, impressions, something's getting reported wrong, and you should look back into it. Then there's engagement rate.

Engagement rate is always given as a percentage, and it represents the amount of engagement in AD receives. Depending on your platform. This can mean different things. On Facebook, for example, it can be a like a click a share a comment on Twitter, this is a retweet or quote, We are like, you get the idea, pretty much anytime somebody interacts with your advertisement. This is calculated by taking the number of engagements and dividing it by the number of people reached And ultimately as a percentage multiplying times 100. There's other percentages that are very helpful to look at as well, especially depending on your goals.

Click through rate is often symbolized as Ctr. And this is a means of measuring the number of clicks, that a link got on your ad. Always again displayed as a percentage. And this formula here you can see it's pretty straightforward and how its measured. Then their CPC, there's a lot of acronyms in marketing, that's cost per click. This is the amount that you've actually paid per click on your link.

This is actually very helpful for measuring ROI, especially if one of your goals is for people to click through to your website. And you take the number of clicks divided by the total amount you spent, and that will give you the amount you paid per click. Platforms allow you to set your budget, either based on the number of impressions that your ad receives or the number of clicks that you receive. And that's how you pay for the actual ad. So you can think about this in terms of your goals, and in terms of what your budget is, and then look at the cost per click at the end of the campaign to see if it was worth it. Then there's CPM Did I not say that there's a lot of acronyms in marketing.

CPM is actually the cost per 1000 impressions. So every 1000 impressions, you can either get billed, or you can determine a different way of getting billed in most campaigns. A lot of these metrics will often have the word unique in front of them. This means that it refers to an individual person. So for example, a unique click versus a click. You could see on an ad, maybe it has 200 clicks and 100 unique clicks.

Therefore, it had 100 clicks. A lot of these metrics will have the word unique attached to them. And that just means they're talking about an individual person. So often you'll see it as clicks and unique clicks. clicks means total clicks. Unique clicks means how many people were actually doing it.

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