We discussed Vanity Metrics last time…but now it’s time to dive into Actionable Metrics!
If you need a quick refresh on Vanity Metrics, read up on them here.
Okay, so what are Actionable Metrics?
Actionable Metrics are metrics that give you insight into performance and allow you to make strategic decisions. They often highlight what is working and what isn’t.
Actionable metrics are tied to the goals of your brand/business. If you are in social media marketing, actionable metrics are important for your social strategy. They should be metrics that are not only actionable but scalable.
Think of things like revenue, CTR, engagement rates, lead generation, etc.
Now we get it, actionable metrics are usually not the most “fun”, which is why Vanity Metrics tends to get all the hype and glory. But, if you can understand how to use Actionable Metrics for your brand/business, you are guaranteed to see improvements in your overall strategy.
Are all Actionable Metrics important?
Yes and no. While all Actionable Metrics bring some sort of value, it’s actually dependent on your specific goals/needs. What is an Actionable Metric for your brand/business might not be an Actionable Metric for another.
How do I determine what Actionable Metrics to focus on?
Remember, Actionable Metrics are tied to your overall business goals. So the first step in figuring out the above question is to define your goals.
What do you want to achieve?
What steps can you take to get there?
After you have determined your goals, now is when you can go back to those Actionable Metrics.
Taking your goals, think about what metrics are going to help you achieve them.
Maybe you want more traffic to your website, then a CTR (click-through rate) may be something to pay attention to. If you’re looking for more sign-ups for your service, then lead generation is more than likely a metric you’ll gravitate toward.
There should be at least one actionable metric attached to each of your goals.
How can I use Vanity and Actionable Metrics together?
The answer to this is you really should be using both. Both types of metrics can bring different insights. While Actionable Metrics will help you scale and show you results that you can replicate, Vanity Metrics can also help you see what your audience is resonating with.
For example, maybe you posted something that was more of a fun post, but you received good Engagement on it. You can take aspects of the post and try to create different campaigns around a similar topic that you can measure.
Example (fitness studio):
What type of workout class are you? (fun post) -> good engagement such as comments and interactions -> take the most popular workout class result and offer a deal -> generate more revenue
This is just one example but both types of metrics can work hand-in-hand to elevate your social media and in turn - your business or brand.
Well…
Now that you know what Actionable Metrics are, our best advice is to sit down and get started. Learning how to use Actionable Metrics to improve your strategy takes trial and error and time.
But don’t worry, it will come!
Leave any questions below or if you’re interested in a social media strategy, contact us today!
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