A Beginner’s Glossary to Understand Social Media Marketing (Pt 1/2)
Someone said, “the ROAS is much less than what we expected. We need to look into the Commerce Manager and identify optimization opportunities.”
And your fingers are already twitching to Google what the heck is ROAS and Commerce Manager.
In the social media marketing landscape, so many words are casually tossed around. If you’re new to it, you might not exactly understand all these terms.
In this quick guide, we explain some of the most common social media marketing terms you will often come across.
(If you have any specific questions, feel free to get in touch with a good digital marketing company in India and get help!)
Click-Through Rate (CTR)
Clickthrough rate (CTR) is the percentage of people that see your post who click on it. On social media platforms like Facebook, CTR is equal to (link clicks / post impressions) x 100%. For example, if a post has 20 link clicks and 1,000 impressions, the CTR equals (20 / 1000) x 100% = 1%.
In layman’s terms, if your post gets a lot of impressions, lots of people will see it. If a post has a slow clickthrough rate, not many people are clicking on the links in the post.
Cost Per Mile (CPM)
If you want to get the most visibility for your advertising dollar, Cost per mille (CPM) is the metric to watch. CPM is the price an advertiser pays for 1,000 impressions of an ad or type of content across a network.
If you’re looking to drive huge amounts of exposure, CPM delivers. Attention is the currency that drives impressions, and CPM is a very cost-effective way to get your message in front of users.
Cross-channel social media marketing is a strategy that brings a cross-network approach to your social media marketing efforts. If you’re working across multiple networks like Facebook, Twitter, Google+, and Instagram, brand consistency is key to your success and failure will be a result of not understanding how each network requires its own unique voice and response.
Cross-channel social media marketing is an offshoot of traditional multichannel marketing, where companies combine one or more traditional marketing channels (such as radio, TV, and the Internet) to promote a product or service.
Algorithms are a set of predefined rules that aims at solving defined problems. To increase the speed, accuracy and relevance of social media services, platforms often use an algorithm to determine what content you see in your newsfeed. These algorithms measure a variety of factors such as: how frequently and how recently you’ve interacted with certain posts, how many people have engaged with them (liked or created comments on them), the level of engagement a post receives once it’s been seen by the user (did they take any actions) and other factors.
Commerce Manager makes it easy to add, manage and promote your products on Facebook, Instagram, and Messenger. You can set up your own store, sell directly with checkout, or choose the items you want to promote. Commerce Manager helps you create, manage and deliver a catalogue of any size. It also facilitates managing inventory, orders, payouts and more.
With the Commerce Manager you’ll be able to create your catalogues, generate advertisements that are more relevant to your customers and know what trends are happening in your area. With the data collected from using Commerce Manager, you can focus on growing your business with more visibility into customer interests and buying patterns.
Engagement rate tells you how much of an audience that is engaging with your content. It’s defined as the number of people who interacted with a piece of content / the total number of people who saw that content. The higher percentage you get for engagement rate, the more effective your work is. If a lot of people interact with your content, it means you’re doing something right!
For example, on Facebook, a comment is counted as an engagement and so is a like or a click on a photo in the link. On Twitter, only unique clicks are counted as engagements and clicking on embedded links doesn’t count.
On most social media platforms, the feed is a stream of content that you see when you first sign in. The feed is the most commonly used way to see other people’s posts and interact with them. It can be found on Facebook, Instagram, Vero, Twitter, and more!
Using the location data of your followers or people who have engaged with your page, advertisers can run ad campaigns in specific areas. This is called geotargeting, and it is one of the most effective ways to increase the relevancy and effectiveness of your social media ads.
Geotargeting allows you to aim ads towards certain geographic regions. For example, if you are planning a marketing campaign in San Francisco, geotargeting allows you to target those people with a Facebook ad. When targeting, you can focus on those within a mile of your physical address, an infinite distance from your address (countrywide), or somewhere in between.
When you post on Facebook, Twitter, or Instagram, the people who follow your page, or who follow you on those platforms, will see your post in their feed. The number of times your post was shown to followers is called impressions. So, when you post content on a social network, the more attention it attracts, the more impressions your content gets. We also count these as views if someone on the social network clicked on or watched your video. Impressions are an important metric that measure how much attention your content is getting.
Key Performance Indicators
A social media key performance indicator (KPI) is a specific measure that shows how well your social media marketing efforts are achieving your objectives. Your KPIs help you track, measure and analyze progress toward achieving your objectives of audience growth, brand awareness and sales conversion. KPIs are a universal way to gauge your social media success, so that you can make optimizations to specific campaigns and put an end to aimless social media marketing.
If you’re looking to bolster your KPIs and achieve more, find a good agency that offers the best social media marketing services Kolkata. Get their help and level up your social media game.
Continue Reading: A Beginner’s Glossary to Understand Social Media Marketing (Pt 2/2)
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