Very often in this digital age, people are most concerned with “Likes” or clicks but I would posit that those are not the most critical KPIs.
When I worked at Avon Products, managing their toy business, we were constantly monitoring our KPIs.
We monitored “Product Revenue on Introduction,” “Revenue per Page” and “Profit per Page,” amongst other things.
These metrics indicated how well we were selecting the products we were offering, whether we were maximizing our brochure page inventory and if we were pricing the products appropriately.
In today’s environment of digital marketing, brands are constantly looking at Facebook “Likes” and click-through rate (CTR), but these measurements don’t really capture true engagement.
I would suggest that time spent on a brand page or website, comments and questions answered are much more meaningful indicators of a consumer’s investment in your brand than simply the number of followers your brand has garnered.
What does this mean for you as marketers?
It means that you have work to do!
When brands state that Facebook marketing (or advertising) isn’t working for them, it’s usually because they aren’t focused on interacting WITH their consumers as opposed to talking AT them (as is done via traditional media).
It’s no longer enough to post something and then just let it sit there.
Now, when your consumers respond to your posts, you need to respond. You need to let them know that you care what they have to say.
You need to build a relationship. Because that’s how you generate sales.
And isn’t THAT really the end-goal?
Tell us what you think (and what you measure to determine a successful program) in the Comments below.