Live + Learn – Maniacal about metrics – but not vanity

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Thanks again to the wonderful Stacey Founder of Brandlective for joining us today for episode 4 – Maniacal about metrics – but not vanity. 

In this episode, Charlotte and Stacey discuss what metrics matter to a brand and why it’s important to set your objectives at the beginning so you don’t get caught up in vanity metrics.

It’s easier said than done, those likes and follows sending endorphins spikes to our brains. We love those little hits, so we understand it’s super easy to get caught up in vanity metrics – How many followers you have? How many likes? How many video replays? etc.

And even though these vanity metrics make us look good, these numbers don’t necessarily contribute to our strategic marketing.

There are few key things, it’s worth identifying before diving into the numbers. 

  1. IDENTIFY YOUR KEY GOAL – if your goal is to raise brand awareness – then your key goal would track those ‘vanity metrics’ you need to track impressions, audience size, likes, videos play. However – if your goal is to generate sales – you need to be looking at link clinks, sales conversions. Forget the vanity metrics. 
  2. IDENTIFY WHO MATTERS TO YOU – It’s better to have 50 followers that are your target audience than 500 followers that aren’t your target audience. High followers do not adequate to sales. These are vanity metrics. 
  3. REFRAME YOUR MINDSET AROUND METRICS – We like to look popular. We want our content to get lots of likes – but if the purpose of the campaign is to generate sales – remember your key goals and what it means to the business. 

It’s important to remember zero moment of truth (ZMOT) and the 7 11 4 rule.

Marketers have used 3 steps in customers buying journey for years. 

  1. Starting with a stimulus – for example, an advert
  2. The first moment of truth – purchasing of the product (POS)
  3. The second moment of truth – the experience of that product

Google added in a new additional step – Zero moment of truth where the customer educates themselves through research, reading reviews, looking for deals and looking at competitors. 

Google’s research has shown that they need 7 hours of interaction, 11 touch points in 4 different locations before they make a purchase. 

Hello, 7 11 4 rule. 7 hours of contact, 11 touch points, 4 different locations. This might seem a huge task for small businesses, so we have broken this rule down into some ways to implement into your marketing. 

7 hours of contact could be through;

  • VIDEO – Demos, interviews and webinars.
  • CONTENT – Blogs, social content, newsletters, white papers or testimonials.
  • AUDIO – Podcasts
  • In real life moments – even though this might be on pause for a while longer.

11 touchpoints

  • RESOURCES CUSTOMERS CAN LEARN MORE ABOUT YOU -such as website, brochures, adverts, email marketing, social content, talks, webinars, podcasts.

4 different locations

  • Website
  • Social media.
  • Office, shop or networking event 
  • 3rd party website (get those backlinks too – refer to our WTF is SEO Live + Learn episode for more of this)
  • Review

The key to this is having a strong content marketing strategy. 

Thanks to everyone who joined us for this episode and if you have any questions about your content marketing strategy email Charlotte@liveconsultancy.co.uk or pop a question over to us on Twitter @LiveConsultancy

UP AND COMING LIVE + LEARN.

Join power couple Charlotte and Elle Thursday 26th November. As the power couple join forces again to dig deeper into your why the importance of finding your sweet spot and value-led brand positioning in Live + Learn episode 5. 

Register here

November 19, 2020