Facebook is currently pushing 3 billion users. Sure, there are other social media platforms, but Facebook is still king when it comes to marketing on social media.
Facebook offers a multitude of avenues for music marketing programs. One of the most tools is the ability to track your metrics.
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With frequent monitoring and effective analyzation, Facebook metrics can make an incredible difference in your music marketing management scheme.
Top 7 Facebook Metrics to Monitor
Engagement rate
Engagement is a big deal and here’s why – if you are getting your message out there to hundreds of users but they aren’t interacting, you’re talking at them, not to them. Your content, be it a music video, meme, or image should be prompting your audience to comment, like, or share. On your Facebook account, you are able to see the stats, so you don’t have to guess how many users interacted. You’ll see an average engagement rate your followers had per post. It is calculated by the total of interactions (shares, likes, and comments) divided by the number of posts. That amount will then be divided by how many followers you have times 100. While the formula may seem complicated, it’s not.
Impressions
Finding out how many times your content or ad was viewed by a user is another valuable tool Facebook offers via Facebook insights. Impressions gives you the amount of times the content was displayed regardless of if it was clicked on or not. This metric helps you decide if your content is being sent to enough viewers. Without it being displayed, users have no access to go any further with it such as to like, share, comment, or purchase. Other analytics then tell you if there was a user experience and if so, what it was. Impressions is also a good foundation to build your analysis on. If there were 100 impressions and 50 users interacted, you’re sitting at 50%. If there were 1000 impressions, however, and 50 users interacted, your score is not near as successful.
Reach
Reach is an imperative metric to know to achieve optimal music marketing. The reach of your content or ad is how many unique users saw it. Reach is like impressions in that lets you know how many times your ad came up, regardless of whose screen it came up on. You’ll see two types – paid and organic. The analytics tool breaks the information down even further when you click “performance” and select the particular campaign you’re interested in. By being able to see firsthand how your audience responded to your ad or content (or failed to respond) through the extension tools of the reach metrics, you can make wise future Facebook music marketing decisions such as what type of posts your audience is most receptive to.
Click Through Rate
Your CTR, in short, is the percentage of users that clicked on a post. It is calculated by the number of clicks on a link during a given time divided by how many impressions you had within that time frame. The difference between impressions and CTR is immense because if users are actually following through to click on, you’re in good standing. Facebook has the highest CTR of all the social media channels for both organic and paid content and ads.
Growth of Followers
You always want your number of followers to be increasing. If that is happening, you’re doing something right. If it’s not, it’s time to switch gears and rethink your strategy. Facebook metrics give you the necessary information so you can make an executive decision regarding your ads and content because you can experiment with ads, videos, posts, memes, and so forth in order to further grow your followers. Choose the most effective campaigns and move forward. Then you can recheck the metrics to make sure your plan is working successfully.
Cost per Conversion
Perhaps the most valuable information of all is how much it costs you on average to get a sale. This metric is yours -thanks to Facebook. You can find out the average of your cost for each campaign divided by the number of clicks and there’s your golden number. The CPC, or Cost per Click, breakdown is also available.
Ideal Time to Post
Your ad can be as creative as they get or your content may be attractive and engaging. But if your users aren’t online at the time they come out, it will be old news by the time they are active. Knowing the best time to post is an incredible advantage. You may be very surprised with peak times are such as 1-4 pm on weekdays. The weekends bring 25% more engagement. Facebook wants you to know this information and wants you to adhere to posting during prime times so you can get the results you’re striving for.
The metrics above are just a few of the many that are available through Facebook. There are 16 in total, making it a cinch to find out how well your music brand is performing. From checking out the specific demographic nature of your audience to discovering the frequency of users’ engagement, there is a plethora of other helpful metric information at your fingertips. No other social media platform even comes close to offering such amazing and useful features for music marketing.
How to Make the Metrics Work for You
Having access to the metrics and putting them to work for you are two entirely different things. All the knowledge in the world won’t boost your music marketing results – but putting the information into action will.
If you don’t have time or aren’t comfortable with analyzing and applying Facebook metrics to your ads and posts, you’d be smart to hire someone who is to do it for you. A music marketing manager who deals with Facebook is well worth the investment.
Looking for a Facebook savvy music manager? If so, be sure to check out Nela Records – musicians marketing musicians – for the best service and most competitive prices in the business.