Clients on Demand S1E027: Views, Clicks, Likes: How Vanity Metrics are Killing Your Business
Dec 15, 2017
40:58
Does it seem like you're getting plenty of action on your Facebook ads and posts… but it isn't translating into paying clients? Do your likes, views and clicks imply that you should have a booming business… and yet, somewhere there's a breakdown in your metrics because you're not seeing the income? Many entrepreneurs cling to these numbers and watch them intently as a way to measure the health of their business. In this episode, Adrienne and I will reveal the TRUTH behind these "vanity metrics," and why they are almost always looked at the WRONG WAY… which can do your business a lot more harm than good.
In this episode we talk about:
- How to know what ad metrics to pay attention to, and which ones aren't worth investing time and money.
- Cost-per-click is what you are paying every time someone engages with your ad. On the surface it seems super important, but the numbers can be inflated due to just people "liking" but not actually clicking the ad. What really counts is how much you are spending to get people to take the next action step.
- Mobile vs. desktop cost per click and what really matters in terms of successful conversion in the ad itself.
- The CPC varies within the industries, so it's not efficient to compare metrics within different areas.
- In our testing of static image vs. video ads, we found the cost of video ads higher to get a conversion. The metrics of video views may be seductive, but it's important to make decisions based on getting closer to your actual goals.
- Why the belief of "the money is in the list," as a magical way to profit, is a myth. If you have a good sales process, you should be turning a profit with the list immediately.
- Instead of getting lost in the vanity metric of sales, think about how much you make and how much you ultimately keep.
- The trap of the celebrity vanity metric. You don't need to be friends with Oprah or a New York Times Bestselling author to charge a premium price and make an impact in the world.
Mentioned in This Episode: