It can be difficult to build and alter your brand’s image, or even to shift your brand’s focus. Nowadays, businesses have more opportunities than ever to revitalise and refresh their brands with the help of social media and digital marketing. But it’s not easy to figure out how to use those instruments. Let’s take a look at the key KPIs you should be using in social media and digital marketing to build or alter your brand’s reputation.
The Importance of Establishing Credibility in Creating a Positive Brand Image
Establishing credibility in your brand is essential. Customers will have a more permanent impression of your company if they have faith in it.
What can you expect if your company is acquired or merged with another? It is crucial to know how to use the resources at your disposal to reestablish your brand following a merger or acquisition. One of our clients acquired another business last year, and since then they’ve been working hard to keep customers happy and build brand loyalty. Using their brand and social media, we assisted them in gaining credibility.
A 2021 paper in the International Journal of Information Management analysed new studies and scholarly works to draw conclusions about the evolution of internet and social media use over the preceding decades. One of their main realisations was that customer involvement is directly correlated to trust. Keeping this in mind, let’s examine the metrics that will help you gauge and enhance customer engagement in order to bolster confidence in your brand.
General Key Performance Indicators and Metrics for Digital Marketing
While there are many KPIs and metrics to track throughout the course of a digital marketing campaign, there are four that will give you the most insight into customer engagement and where you can make improvements to your brand’s reputation:
• Fresh leads found: These are people who have expressed interest in hearing more from you and have signed up for your mailing list or other forms of outreach.
What we call “bounce rate” refers to the percentage of visitors who do not stay on your site or interact with its content.
The extent to which your target audience knows who you are is known as your “brand awareness.” Metrics like the number of followers on social media are frequently used to assess this.
Your social engagement is the sum of your shares, likes, comments, and other online activities. We will provide a detailed analysis of this key performance indicator (KPI) below.
Statistics on Interactions on Social Media
Social media has become indispensable in the modern era of brand development. Direct communication with your intended audience is made possible. Despite the fact that social media is fraught with danger (consider how quickly an unplanned or poorly timed post can go viral and cause a PR crisis), businesses that know how to make use of their metrics can assess how they’re doing and determine where they need to make improvements. The following are some examples of such metrics:
Potential viewers, or “reach,” is the total number of people who could see your posts.
One metric that can be used to gauge the success of a piece of content is the number of “impressions” it receives. These two groups of people may be the same.
• The rate of expansion of your audience, as opposed to the total size of that audience, is an important indicator of success.
• Engagement rate: This metric compares your level of engagement with the size of your audience, rather than the number of people who follow you. Keep in mind that the ratio of engaged users to total users is a common metric for many platforms, so you may need to do some extra math to determine the exact number of engaged users. Isn’t it more useful to evaluate success based on the size of the audience rather than the number of people who chose to follow the subject It’s likely that expanding your audience and following is a top priority for you when it comes to social media. Rather than focusing on the number of people who follow you, it can be instructive to calculate your engagement rate as a percentage of the total audience you’ve reached. How quickly people want to interact with your content can be gauged in this way (and thus trust you).
The ratio of your shares to the number of people who follow you is your amplification rate. Basically, it demonstrates how your audience is doing the marketing for you.
• Virality rate — the proportion of people who shared your content who ended up liking it. It tracks how many people, both followers and non-followers, are talking about your posts.An article’s CTR reflects the percentage of readers who actually clicked on one of the article’s links. Think of it in terms of your site’s bounce rates.
• Conversion rate: This metric evaluates the proportion of total clicks on your posts that result in a conversion (subscriptions, downloads, purchases, etc.).
Understand How These KPIs Can Change Your Company’s Reputation
Picture yourself using Twitter. You come across a thread wherein an article that criticises a well-known clothing label is being shared. Do you feel more inclined to read an article if it comes from a well-known media outlet, or one that you have never heard of before? For the most part, people only interact with reliable sources. These trustworthy sources did this in part by increasing exposure for their names and businesses. Keep in mind that while some well-known media outlets have been around for decades, many reputable media websites have emerged or gained prominence in the digital era. Many of the same metrics we’re talking about here were likely used by them to captivate social media audiences, earn consumers’ trust, and expand their brand’s reach.
The level of consumer engagement with your brand can be gauged using the various metrics we’ve covered so far. Keep in mind the article’s main point from IJIM: consumer engagement aids in establishing credibility. You build a brand image that you can promote through your interaction with customers. You manufacture a reputation that your customers then tout on your behalf.