In the world of digital marketing, it’s important to track your progress and ROI. That’s why marketers often rely on key performance indicators (KPIs) to gauge their success. And yet, that’s simply more data to deal with in addition to the usual website analytics, social media metrics, ad performance…the list goes on and on.
Not all KPIs are created equal. Some KPIs, or vanity metrics, can give you a false sense of progress and ultimately lead you astray. With so much information at your fingertips, it can be tough to know which metrics are worth paying attention to, and which ones you can safely ignore.
In this blog post, we’ll explore what vanity metrics are, how they leech off your marketing efforts, and just which KPI is most likely to be a vanity metric that you should pay less attention to in your next marketing proposal.
What is a Vanity Metric?
A vanity metric is a performance indicator that doesn’t provide any actionable insights. In other words, it’s a metric that makes you feel good but doesn’t help you improve your business.
For example, the number of likes on a social media post is a vanity metric. It might make you feel good to see that your post received 100 likes, but it doesn’t tell you anything about whether or not people actually read or enjoy your content.
The number of page views on a website is another common vanity metric. Say you’ve got about thousands of page views in a short while. While it’s good to know that people are visiting your site, it doesn’t tell you anything about whether or not they’re actually finding the content useful.
Options like Reach, Engagement return on ROI, Loyalty, and Retention are other metrics that people usually wonder are vanity metrics or not. And the correct answer for this query would be, except Reach, the other options are all actionable metrics.
Understandably, vanity metrics can give you a false sense of progress and can actually lead you away from taking actions that would improve your business.
What is the General Verdict on the Use of a Vanity Metric in Marketing?
When it comes to analytics, there are two types of metrics: vanity metrics and actionable metrics. Vanity metrics are numbers that make you feel good but don’t provide any insight into the performance of your business. For example, the number of likes on a Facebook post is a vanity metric. Here’s a bit about actionable metrics in brief.
Actionable Metrics
There are a lot of metrics that marketing teams can track, but not all of them are actionable. Actionable metrics are those that can be used to inform and improve marketing strategy. For example, click-through rate is an actionable metric because it tells you how effective your call-to-action is.
If your click-through rate is low, you can try a different call-to-action or change the placement of your ad. Similarly, cost per lead is an actionable metric because it helps you determine whether your marketing efforts are generating leads at a reasonable cost. If your cost per lead is too high, you may need to reconsider your target audience or adjust your lead generation tactics.
The key to actionable metrics is that you can directly influence them through the work that you do. By understanding which metrics are actionable, you can focus your efforts on the activities that will have the biggest impact on your business goals.
So, should you completely ignore vanity metrics in analysis?
Not necessarily. While you shouldn’t put too much stock in them, vanity metrics can still give you some valuable insights. For example, if you see a sudden spike in the number of views on your videos, that could be an indication that something you’re doing is resonating with people.
Or if you see a sharp drop-off in the number of visitors to your website, that could be an indication that something needs to be changed. So, while vanity metrics should never be the sole focus of your analysis, they can still provide some valuable insights when used alongside other data.
Which KPI is Most Likely to be a Vanity Metric?
A content strategy is a mix of numerous tracked metrics, including vanity metrics. Before we tell you which KPI is most likely to be a vanity metric, let’s discuss what vanity metrics exist.
As a marketer, it’s important to know which metrics are vanity metrics and which ones will give you the insights you need to improve your campaigns. Over-reliance on vanity metrics can lead to bad decision-making and missed opportunities.
So, what are the various vanity metrics in marketing?
Social media followers are touted to be the first big vanity metric to avoid. Following the craze of wanting to know just how many followers are in your league, the other metrics are page views, number of visitors, sudden or huge spike in web traffic, time spent on the website, share of voice, and more.
Let’s understand just how vanity metrics can be fluff for your marketing efforts.
1. Social Media Followers
As a marketer, one of the metrics you’re always keeping an eye on is your social media following. After all, more followers generally mean more potential customers, right?
However, it’s important to remember that social media followers are not always a reliable indicator of success. In fact, some experts have even called them a “vanity metric.” Here’s what you need to know about social media followers and why they shouldn’t be your only focus.
First of all, it’s important to remember that not all social media followers are equal. Just because someone follows your brand on Twitter doesn’t mean they’re interested in what you have to say. In fact, many people follow brands on social media just to get access to exclusive deals and discounts.
Secondly, social media followers can be easily purchased. There are now dozens of services that allow you to buy fake followers for your brand’s account. These fake followers will inflate your numbers, but they won’t do anything to boost your bottom line.
Finally, even real social media followers don’t necessarily equate to real customers. Just because someone follows you on social media doesn’t mean they’ll ever make a purchase from your brand.
So, if you’re only focused on acquiring more social media followers, you could be missing out on valuable opportunities to engage with potential customers who are already interested in what you have to offer.
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2. Pageviews
Pageviews have been traditionally used as a key metric to measure the success of digital marketing campaigns. However, pageviews are not always an accurate reflection of engagement, and they should not be used as the sole marker of success.
There are a number of factors that can affect page views, such as the length of the page, the font size, and the design. In addition, a high number of pageviews does not necessarily mean that people are reading the content; it could simply mean that they are clicking through to find something else.
For these reasons, marketers should focus on other metrics, such as time on page, bounce rate, and conversion rate, in order to get a more accurate picture of how their campaigns are performing and how many users are actually falling into your sales funnel.
3. Page Visits
You might think that the more visitors you have, the better off you are. But, in reality, the number of visitors means nothing if they’re not taking any action on your site. What’s more important is engagement.
Are people staying on your site? Are they reading your content? Are they clicking through to your sales page?
If not, then you’re not driving results with your marketing efforts. So, don’t get caught up in vanity metrics. Focus on measures that actually matter.
4. Huge Spike in Web Traffic
As a marketer, you’re always looking for ways to increase web traffic. It’s one of the most important metrics to track, after all. But what if you knew that there’s such a thing as too much web traffic? That’s right – a huge spike in web traffic can actually be a bad thing. Here’s why.
First of all, it can be difficult to sustain. If you suddenly get a ton of new visitors, chances are they won’t all stick around. You’ll need to work hard to keep them engaged. Second, a big surge in traffic can overwhelm your website and cause it to crash. Not only is this frustrating for your visitors, but it also reflects poorly on your brand.
Finally, a sudden spike in web traffic is often due to marketing ploys like clickbait or viral content. While these tactics may attract attention in the short term, they usually don’t lead to lasting results.
So, next time you’re tempted to chase after a huge spike in web traffic, remember that it might not be worth the effort.
5. Newsletter Subscribers
A lot of businesses put a lot of stock in their newsletter subscriber numbers. More often than not, they’re seen as a vanity metric – a number that looks good on paper but doesn’t really mean much in terms of actual engagement or conversions. And, to be fair, there’s some truth to that.
A subscriber list is only as valuable as the people on it and the relationships you have with them. Just because someone subscribed to your newsletter doesn’t mean they’re actually interested in what you have to say.
That being said, a newsletter subscriber list can be a valuable asset if you know how to use it properly. It’s a way to build relationships with potential and new customers and keep them updated on your product or service.
Used correctly, it can be a powerful tool in your marketing arsenal. However, it’s important to remember that it’s just one piece of the puzzle – don’t obsess over numbers and lose sight of the bigger picture.
6. Likes & Shares
Likes and shares are two of the most common vanity metrics. We see a post with a lot of likes and we think ‘this must be popular,’ but we don’t really know why people are liking it. Shares are even more problematic.
Just because someone shares a post doesn’t mean they’ve actually read it or found it valuable. In fact, most people share without even looking at the content. So, while likes and shares might make you feel good, they’re not actually good indicators of success or worth consideration as a marketing or sales-qualified lead.
Make sure to avoid the vanity metrics and focus more on important KPIs!
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7. Time Spent on the Web Page
One of the most common metrics is time spent on the website, or how long a user spends browsing the site before leaving. While this metric can be helpful in some cases, it’s important to remember that it’s not always an accurate measure of success.
There are a few reasons for this. First, time spent on the site doesn’t necessarily mean that the user is engaged with the content. They could be scrolling through aimlessly or even just waiting for a page to load.
Second, even if a user is engaged with the content, that doesn’t mean they’ll take any action as a result. For example, they might read an article but never click through to buy a product or sign up for a newsletter.
Finally, time spent on the site can be easily manipulated. For instance, businesses can make changes that result in users spending more time on the site without actually increasing engagement or conversion rates.
8. Keyword Volume
Many marketing professionals fixate on vanity metrics such as the volume of keywords their campaigns generate. However, this focus on quantity over quality is misguided, and it can actually lead to less effective campaigns.
The truth is that a few well-chosen keywords are worth more than a hundred poorly targeted keywords. When selecting keywords, it’s important to consider factors such as search intent and competition.
Also, just because a lot of people are searching for a particular keyword doesn’t mean that it’s a good keyword to target, you don’t know the whole story behind their search intent. In fact, in many cases, the most searched keywords are also the most competitive.
This means that you’re likely to spend a lot of time and money trying to rank for them, without ever seeing any real results.
So, while it’s important to keep an eye on keyword volume, don’t let it be the only thing you focus on. Instead, use it as one piece of data among many when making decisions about which keywords to target.
Final Thoughts on Which KPI is Most Likely to be a Vanity Metric
It’s important to be aware of vanity metrics when you’re setting goals for your business. While it’s great to have a lot of traffic to your website or a large social media following, these numbers don’t mean anything if they’re not translating into customers or sales.
It’s important to focus on metrics that will help you assess whether you’re achieving your goals and growing your business. If you’re not sure which metrics to track, talk to a business consultant or coach who can help you set the right goals for your business. That’s where Growth Hackers comes to the rescue.
We specialize in helping businesses of all sizes set their growth goals and identify the right KPIs to track for sustainable success. Whether you’re looking to increase sales, market share, or customer satisfaction, we can help you develop a plan to achieve your desired results.
And because we’re a full-service digital marketing agency, we can also provide the tools and expertise you need to successfully implement your plan and reach your goals. Contact Growth Hackers today to learn more about how we can help you grow your business sustainably.
