For B2B marketers the social KPIs are paramount to measuring the successes of their social media advertising campaigns. In the previous part of the blog post, we scrutinized approaches towards defining & measuring Facebook KPIs, in particular. Let’s now delve deeper into the quantification of social advertising strategies for the microblogging social network – Twitter.
According to Hootsuite, 75% of the B2B businesses market on Twitter.
Ever since its inception on March 21st, 2006, Twitter has been constantly influencing our cultural consciousness & over time has become an integral part of it.
Twitter is one of the most vibrant channels for marketers to run their ad campaigns & for promoting their brands. Rather than trying to explain every data point, just a handful of Twitter KPIs can give the marketers all the information required to seize the new opportunities & improve their marketing endeavors for a better Return on Investment (ROI).
Also, while defining their Twitter KPIs, the marketers should keep in mind that their KPIs align their business objectives as follows:
- For an e-commerce company conversion, KPIs are of vital importance
- For a company trying to drive brand awareness as a brick & mortar retailer, Retweets might be vital KPIs
58% of the brands on Twitter have more than 10,000 followers (Source: adweek.com).
77% of the Twitter users stated that they feel more positive about a brand once their Tweets are replied to & 54% of the total users surveyed by Twitter stated that they had taken action after seeing a brand on Twitter (Source: blog.twitter.com).
Thus, Twitter is an important social media platform for generating leads, nurturing them, generating conversions & also helps in building excellent relationships with the existing customers by providing excellent after-sales services through tweets & re-tweets.
Some of the most influential people from every sphere of art, science & business are on Twitter.
83% of the world leaders (Source: prnewswire.com) & 65.8% of the US companies use Twitter (Source: emarketer.com).
Engagement on Twitter is simpler & instantaneous & is just a share, re-tweet or mention away. Thus, Twitter is an indispensable part of making or breaking a successful social media campaign.
Twitter helps in generating targeted leads, indulging relevant & targeted audiences with the ad campaigns or an important piece of information in no time, nurturing leads by providing tailored answers to the questions of prospective customers in no time & often by the industry experts & in generating instant conversions.
Furthermore, Twitter also plays a great role in building & maintaining brand equity & in providing aftersales services to generate positive word-of-mouth interactions for potential customers to bank upon, like testimonials.
The following are some of the most important Twitter KPIs:
1. The average performance of the Tweets:
When starting on with measuring the endeavors of Tweeter ad & promotion campaigns, the law of averages helps a lot. Before a Twitter campaign is designed, benchmarking the competition & analyzing what works best for the prospects on Twitter is helpful. Post launching an ad campaign or promotion on Twitter, the marketers should measure the average engagement rate, the average number of shares & re-tweets using a Twitter dashboard to divulge the effectiveness of their marketing campaigns.
2. Segmenting Audience Type:
The more information the marketers on Twitter have about their audiences, the simpler it becomes for the marketers to target them based on their preferred form of content. Important demographic, technographic, firmographic, psychographic & “fit-data” about the potential buyers, as follows, can help in segmenting the audiences:
- Where the followers on your Twitter page coming from & what are is their primary gender?
- What is the lifestyle of the people following your website?
- What are the interests or hobbies of the potential clients on the website & which types of technologies do they use?
- Which industries primarily employ the “buyer-persona” & what are the job profiles they primarily work for?
3. Engagement Rate:
Engagement Rate is one of the most important Social KPIs for all social media platforms including Twitter.
There are several ways to build & measure engagement on Twitter. The channel will assess engagement every time:
- Somebody uses the same branded hashtag as yours
- Clicks on a link
- Follows or Favorites the brand page
- Links back to the brand page
- Replies to any post
- Re-tweets a post
To discover the Twitter engagement, on needs to delve into the Twitter analytics & then click on “Engagement Rate”
4. Tracking the type of Engagement:
Not only tracking the engagement rate is important but simultaneously the marketers also need to measure in what ways the audiences on the website are engaged with the ads or the content.
To turn the brand followers into customers & further into brand advocates, the marketers need to analyze the type of engagement of the audiences on Twitter. The total engagement of the audiences on Twitter can be broken into link clicks, re-tweets, likes, detail expands, media engagements & profile clicks.
One can access the breakdown of engagement from the Twitter dashboard by going to the “Twitter Analytics” clicking on the “Tweets” tab in the navigation bar & then “View Tweet activity”.
The marketers should always analyze how their content is performing on social media. Tracking metrics such as the ratio of total impressions to that of engagement can give the marketers valuable insights into whether a piece of content is compelling for the audiences to take the right action at the right time after engaging with the piece of content, whether it is reaching the right set of audiences & whether it’s helping the bottom-line goal of conversion rate optimization for the marketers.
Analyzing the impressions to engagement ratio also gives the marketers insights about which types of content are generating maximum impressions for the brand.
6. Total number of Followers:
Tracking the total number of brand followers is important for marketers. The higher the number of followers a brand has, the better is the chance of sales conversion. However, quality & quantity go hand-in-hand when it comes to building a follower-base. Using Twitter Analytics, marketers can analyze the rise or dip in their total number of followers.
If the brand has had a healthy number of followers for quite some while, which suddenly starts to drop, the marketers need to do some reputation management.
Often the sudden decline in the total number of brand followers is attributed to some negative sentiment regarding the brand, which can be any negative news about the stakeholders or even the simpler things such as the drop in the market share prices or a tweet evoking negative emotions amongst the followers. If the number of followers declines suddenly, the marketers should analyze all probabilities evoking negative sentiments amongst the audiences & should employ some team members to do reputation management tasks proactively on all the referral sources bringing traffic on the homepage of the website as well as on the third-party websites.
While impressions as standalone metrics imply the total number of audiences who view a post each day or the number of times an advertisement or piece of content is served to the audiences. Deriving marketing insights from impressions alone can be a bit difficult; hence, impressions are always evaluated along with some related metrics such as engagement to add more meaning to the context of engagement analytics.
The fact that impressions are being served to the timeline of the audiences doesn’t guarantee that the audiences have seen the content. Furthermore, even the ratio of impressions to engagement can imply a lot of things. While a higher ratio of impressions to engagement implies that the audiences on Twitter are engaging with content & find it useful to address their pain-points, a lower ratio of impressions to engagement may also imply that the content is only being served to a lower proportion of niche audiences, generating less engagement & the advertising needs to be more targeted.
The videos are arguably the most engaging types of content on social media platforms including Twitter. 82% of Twitter users watch video content (Source: insivia.com).
The “Video Views” matrix on the Twitter analytics page will display how many people have seen a piece of content. “Completion Rate“, on the other hand, represents the total number of audiences who have completed watching a video.
The closer the ratio of the total number of video views to completion rate is to the fraction 1, the healthier the engagement of the audiences with the video content is.
9. Tracking hashtag performance:
The hashtag is one of the most unique discoveries by Twitter. Nowadays, it’s virtually impossible to run any social media campaign without hashtags.
The marketers need to experiment with some specific set of hashtags to examine which ones work the best for them & even resonate with the core idea of the brand. A/B testing the hashtags is a good idea until it is established which ones are generating higher conversions.
Once the marketers have an idea of what’s working for them, they can display their most impactful hashtags with pieces of content meant for marketing & sales to boost conversions by enticing the audiences to perform a specific set of functions.
10. Return On Investment:
Marketers don’t mind investing in an ad or a lead generation campaigns only as long as they get enough leads, potential customers or the desired conversions on the website to justify the currency invested in those campaigns.
The desired result of any campaign should ultimately resonate with the bottom-line goal of an optimized ROI for the organization.
If somehow the promotional or the ad campaigns on Twitter are below the expected ROI, the campaigns need to be reviewed by the marketers.
The marketers should remember that there is no hard and fast rule when it comes to measuring the endeavors of their Twitter campaigns; nonetheless, it’s essential that they have some insights about some of the main KPIs to track the insights about their online campaigns.
Twitter is an incredibly powerful social media platform that allows modern marketers to quickly share updates and content, as well as engage with the current & potential customers. Twitter consolidates brand equity & serves as a platform to positively impact customers.
Defining & quantifying relevant KPIs & visualizing them with the help of dashboards helps the marketers to optimize their advertising strategies. The marketers after a while have a fair idea of what KPIs align with their business objectives. Nonetheless, they should also ask the other departments in the business about how they choose whether specific KPIs are relevant. These departments can include Sales, Finance, IT, Operations. This might help marketers in aligning KPIs to their core business objectives in new ways that they might have been oblivious about.
Valasys Media is sponsoring the CMO & Future of Marketing Summit, to be held at Grosvenor House, Dubai between 23/9/2019 to 25/9/2019.
Stalwarts from diverse areas will share their insights on topics such as omnichannel marketing, marketing automation & cloud, account-based marketing & agile marketing.
Measuring the efforts of social media marketing & social media marketing endeavors, in general, will be a hot topic of discussion for the marketers as well as the industry-experts participating in the event. The following discussions in the conference are dedicated to social media:
a. MARKETING LEADERS EXCHANGE
Evolve: Revaluating your ROI strategy – Are you doing it right? (On Day 1)
b. Getting the most out of social media and how to measure its success
(Session reserved for Talkwalker on Day 2)
c.The customer – The real MVP: From instinct to insights (On Day 1)
d. TECH TALK
Multimedia content is no more a luxury but a necessity (On Day 2)
e. TECH TALK
LinkedIn and social media ABM for improving relationships and enhancing engagement and revenues
f. PANEL DISCUSSION
Stories, Live, TV, Quizzes, Augmented Reality and what not? How has social media evolved and what does it mean for your content? (On Day Two)
g. SOCIAL MEDIA
How Social media is impacting user behavior (On Day Two)
The businesspeople can refer to the link below to register their presence at the event:
One can also call IQPC on +971 4 360 2800 or drop them an email at email@example.com if one has any queries about the event.
Valasys Media is a well-known name in the field of B2B marketing services & we provide a wide array of services such as lead generation, account-based marketing, lead nurturing, event promotion services, list building services & content syndication services to name a few.
Our services are custom made to help our clients with their core bottom-line endeavors such as sales revenue optimization, elevating the indexes of their customers’ experiences (CX-Index) & improving their returns on marketing investment (ROMI).
For refurbishing your B2B marketing endeavors towards an optimized Return on Investment (ROI) and for the furtherance of perennially healthy sales pipelines, feel free to get in touch with our team of experts.