Tag: kpi

“Proof of Work” when Hiring a Digital Marketing Firm

The term “proof of work” originally came from decentralized consensus mechanism that requires members of a network to expend effort solving an arbitrary mathematical puzzle to prevent anybody from gaming the system. More recently, Proof of work is used widely in cryptocurrency mining, for validating transactions and mining new tokens..

However, you can also apply this “proof of work” example when hiring a digital marketing agency. For example, when evaluating a digital marketing agency firm (bid) for your business, request the following:

  1. Industry experience. Agency experience in your particular field (niche). Ask for client (roster) names list and testimonials. Review agency clients website layouts, content (blog), social media accounts, etc. Drill down on Agency clients and look for website rankings, social media follower counts, blog content quality.
  2. What results are they promising (vision and strategy)? Ask Agency what their KPI’s (metrics) are with clients and did they meet them (KPIs)? If Agency guarantees  SEO rankings on first page, that’s a red flag. SEO top rankings takes years to achieve and its a “long game” strategy.
  3. What tools are they using (website & blog building, Slack, Social Media, Google apps, email, CRM, etc) with clients? Id the tools aren’t industry leading, and you never heard of them that’s a red flag.
  4. Size of agency? How many heads (resources) will they allocate for your marketing effort? How do they communicate (daily, weekly, monthly)?
  5. Agency website. I needs to be elite. An Agency website needs to look clean, flow well, images top rate, mobile optimized, call to actions (CTA), and downright pleasing to look at. Anything short of that, don’t bother hiring them.
  6. Communications. Do they speak well on the phone and in person (trust is crucial)? Make sure there is chemistry between you and the Agency’s team. If you feel a conflict in the first meetings (chemistry-wise), move on and don’t bother hiring them. Ask them for an initial audit (free of charge) of all your digital resources (website, blog, social media, etc). Most digital marketing agency’s will send you a quick audit and feedback/strategy when vying for your marketing dollars!

An outsourced Digital Marketing Agency should show you “proof of work” and a strategy on how to best achieve your business success in the digital world.

 

How to Measure (ROI) Social Media Campaigns in 2022

Before starting any Social Media effort you must DEFINE your goals and targets (KPIs). A lot of these KPIs you can track from a CRM like HootSuite, HubSpot, Salesforce, or Sprout Social.

Basic Social Media Campaign KPI’s (Tangible) measurements:

  1. Product sales or qualified leads. New customers acquired. Not included: “converted leads” which are the responsibility of the sales organization or account manager.
  2. Increased revenue, and/or market share.
  3. Content Post CTR (Click-through rate) through Social Media platform.
  4. Site traffic (clicks back to website from a Social platform) or “sessions” by Social Media source

These are just a few basic metrics that you can use to measure your Social Media campaigns. So how do you measure the ever important “non-tangible” Social Media ROI?

  1. The quality of “buzz” or change in sentiment. Think Twitter buzz or the quality/quantity of blog feedback/comments. Develop an in-house engagement metric.
  2. Amount of relevant people handling digital content.
  3. Amount of “followers” or new members after a social media campaign. Not everyone’s social media goals is to sell product. Could be a branding goal or a service type goal.
  4. ReTweets
  5. Impressions
  6. Likes
  7. Connections

In the end, Social Media campaign goals must lead to increased revenue, SEO rankings (Google, and Bing are using “social signals” to help them rank), leads, branding/loyalty, or better service. It’s easy to present the tangible information to your boss or client. Make sure the non-tangible information is measured as well.

How to Measure (ROI) Non-Tangible Social Media Campaigns

Before starting any Social Media effort you must DEFINE your goals and targets.

Basic Social Media Campaign KPI’s (Tangible) measurements:

1. Product sales or qualified leads. New customers acquired. Not included: “converted leads” which are the responsibility of the sales organization or account manager.
2. Increased SERP ranking.
3. Increased revenue, and/or market share.
4. CTR (Click-through rate), etc.

These are just a few basic metrics that you can use to measure your Social Media campaigns. So how do you measure the ever important “non-tangible” Social Media ROI?

1. The quality of “buzz” or change in sentiment. Think Twitter buzz or the quality/quantity of blog feedback/comments. Develop an in-house engagement metric.
2. Amount of relevant people handling digital content.
3. Amount of “followers” or new members after a social media campaign. Not everyone’s social media goals is to sell product. Could be a branding goal or a service type goal.

In the end, Social Media campaign goals must lead to increased revenue, SERP rankings, leads, branding/loyalty, or better service. It’s easy to present the tangible information to your boss or client. Make sure the non-tangible information is measured as well.