Understanding the benefits associated with establishing a strong social media strategy for your business is a little more complex then simply looking at “likes and comments.” As the importance of social media in our lives has changed from a want to a “must have,” the most successful companies are the ones who are using this massive traffic increase to help benefit their business. How companies use social media to engage their customers, product users and community in this day and age can be make or break. So how do business’s know how the masses are using their social media?
This is where social media metrics comes in.
Established alongside her fiancé Eric Lockhart, Gretty Rose the Label offers looks for all occasions with playsuits, shorts, and dresses in feminine boho styles available for purchase from their online store. The Gold Coast mum and close friend of fitness queen Ashy Bines, has built an impressive Instagram following with 274K followers between her personal profile and label. “I decided to launch my label after realizing I had established some great connections and followings from the fans of Ashy’s Raw series,” said Gretty. “Its definitely scary being in business but its amazing and exciting. I’m living my dream and my passion.” It wasn’t long before Eric resigned from a 15-year career in the air-conditioning trade to assist full time in the business. “We’re so overwhelmed and excited about the growth that we have had over the past 12 months, We feel very lucky and blessed to be where we are in such a short space of time.” said Gretty.
Building an empire in the fashion sector of a very fashion forward city, in an incredibly competitive market, is no easy feat. Gretty and Eric have been able to create a lifestyle brand that is taking not only Australia, but the world by storm. Eric just returned from an extensive “social media fueled” trip to North America where he attended seminars held by leaders in the social media industry, such as Facebook CEO, Mark Zuckerberg.
When asked how social media metrics has helped in their “global takeover?” You could see instantly how this business has become one of the leading lifestyle brands in Australia with the knowledge they both possess on this subject, Eric Replied “After listening to the greats like Mark Zuckerberg, it’s all about understanding your audience is key. It brought new light to the way we are using metrics in our businesses” (Eric also starting his own fashion brand Erosh Apparel.) “Through the use of metrics for Gretty rose the label, it is all about connection and also understanding the demographic we target. Facebook helps us with dynamic targeting and retargeting. We know what style, size, right down to the colour our audience is looking for on a daily basis. With that in mind we really know what to showcase on all our marketing platforms for success.”
Its hard to believe that up until 2 years ago Eric didn’t know what social media metrics were and now he is an integral part of one of Australias fastest growing fashion companies. It is a testament not only to how hard he has worked, but also how much he has committed himself to the company. “I was lucky enough to be able to attend the Traffic & Conversion Summit in San Diego, California last month. That was an eye opener and a huge benefit to the way we will be using Social media metrics in the future” says Eric in regards to the Summit which is the largest conversion conference in North America. Every year, thousands of the world’s smartest marketers descend on San Diego, California to learn what’s new, what’s hot, and what’s actually working right now in digital marketing and social media.
The Label focuses on 4 main Social Media Metrics:-
ENGAGEMENT- Engagement is the catalyst for improvement in all of the social media KPIs (key performance indicators) they focus on. Simply put, engagement measures the amount of likes, shares, and comments that their social updates receive. Having a large reach with low engagement is a bad sign, because it shows that you don’t have a marketing message or content that resonates. Reaching millions of people means nothing if they aren’t interested in what you offer. As long as your audience is engaged, no matter how small that audience is, it will grow organically and generate more leads. Plus, on platforms like Facebook and Twitter, engagement plays a major role in how many people actually even ever see your update. Facebook and Twitter see engagement as a sign of quality and popularity. The more interactions your content receives, the more newsfeeds Facebook will filter it out to. Similarly, the more retweets or likes a tweet gets, the larger it will appear (in font size) on your Twitter profile.
REACH- Reach is an old-school marketing metric that still remains important today. It indicates how far your message is actually traveling — how many eyes it’s getting in front of. Measuring reach on social media can be misleading at times as it only shows how many people potentially saw your post or that it was made available. Unlike engagement, which has definitive answers such as x amount of likes, reach is really just an estimate. A good way to measure reach is the total number of people following your brand on social media to indicate your reach without any engagement. Traffic Data is a huge one. What percentage of the traffic to your website is coming from social media? If you’re investing a good amount of time and effort into your social media content, you’ll want to make sure that this number reflects that.
LEADS- it’s easy to get caught up in how many likes and shares you’re getting. If you aren’t generating leads, you’re either on the wrong platform or your content isn’t engaging to your buyers persona. The sooner you identify the problem, the better — but you have to start tracking to find out. You can also gain valuable insight by looking into the demographics of the people who are seeing and responding to your content.
CONVERSIONS- This is the ultimate measurement of your success in social media marketing. If you’ve truly found the right people and kept them engaged, they’ll be interested in buying your product or service (if they haven’t already). You shouldn’t expect to have high new customer rates from social media because a lot of your followers will be current customers and another significant portion are only interested in the content.
Lessons for Others
For Gretty Rose The Label social media metrics provide significant value in improving business performance. Every audience is different, by focusing on the social media metrics that are most relevant to the platforms their brand is active on, Gretty and Eric are able to provide the best service and product to their wide array of consumers from all over the world.
Gretty Rose The Label
Industry: Fashion online retail
Name of Organization Contact: Eric Lockhart
Authored by: Nick Shailes
If you have concerns as to the accuracy of anything posted on this site, please send your concerns to Peter Carr, Program Director, Social Media for Business Performance.
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