Socialveinsis in the MarketingTech Industry

Socialveins

With every marketer wanting to get into the nitty-gritty of TikTok and understand how the magic happens within the platform (in other words, how a video can become viral overnight) or uncover what the future trends will be, keeping an eye on the data is crucial. Luckily, when it comes to numbers, there’s one trusted source covering the shifts of the social media landscape year after year - which is . Socialinsider’s social media industry benchmarks study Let’s briefly take a look at what 2023 seems to have in store for TikTok, as well as the other major social networks. A. TikTok Engagement Data TikTok experienced notable success in the last few years, becoming one of the most widely used social media platforms globally. The popularity of the app was likely due to its innovative algorithm, which allowed users to instantly discover content targeted to their interests. Besides, the platform's short-form videos and viral challenges gained traction as a source of entertainment and self-expression, particularly among younger users. Several people and businesses took advantage of TikTok's popularity, resulting in significant growth for creators, companies, and marketers on the platform. With brands like Ryanair and Duolingo dominating the "For You" page and getting millions of views with their funny videos, it's no surprise that the average social media engagement is higher compared to other platforms. And speaking of TikTok’s engagement and how some industries seem to have found their way into the user’s hearts - did you know the beverages sector has shown exceptional skills in TikTok marketing and has achieved an engagement rate almost double the platform's average score, making it the most engaging industry on TikTok? Here’s a thought! Could this be associated with the launch of Prime Energy, which was promoted on social media by nemeses Logan Paul and KSI? One can never know. Upon its release, TikTok was flooded with videos depicting the frenzy produced by the rapidity with which the energy drinks were sold out in supermarkets. This clearly shows that influencer marketing still has a significant impact on purchasing decisions, especially for young people. However, despite the fact that TikTok is undoubtedly the coolest kid on the block, with 2023 kicking in, the platform registered signs of an engagement decrease. Actually, according to the data, TikTok has experienced a decline in the average engagement rate of 28% compared to last year. That leaves us wondering if TikTok will trace the history of Vine and Musical.ly and ultimately fade away over the years. But ultimately, only time can tell. B. Instagram Benchmarks Probably seen as TikTok’s most fierce competitor, nowadays, Instagram struggles to keep its user base and adoption rate, making Reels a feature that will shine through the years. In trying to align with the youngsters’ video preferences, the platform has made a significant change in its video integrations lately and shifted all videos under 15 minutes into Reels, which is the platform's own version of short-form videos. With Reels, users can add music, special effects, filters, and text to their videos, making them fun, engaging, and a way to showcase creativity for regular users and companies. The platform's algorithm also facilitates Reels' viewership through multiple means due to its double placement in both the regular and exclusively Reels video feeds. To see how Reels stack up against TikTok, as well as the other Instagram content formats, from a performance perspective, we’ll take a look at the almighty social media metric called engagement rate. As the previously mentioned study has revealed, in comparison to the values of the other post formats, Instagram Reels record an average engagement rate of up to 0.93%, which is nearly twice as high. However, truth be told, it does not come any near to TikTok’s levels. Instagram is a platform that prioritizes aesthetics and visual appeal. Because of its emphasis on these characteristics, brands in the beauty and fashion industries are drawn to this network. But when talking about performance, the food industry is the leading engaging sector within the platform. Who would have guessed that mouth-watering images and videos of appetizing dishes would be so successful in catching people’s interest? Although, if we were to be honest, we’ve probably all tried to act like chefs for a day and practiced our culinary abilities using recipes found on Instagram. Right? As for other social media industry benchmarks, you might want to know that business lines, such as airlines, arts & crafts, travel, beverages, and alcohol, also have scored above-average Instagram engagement rates. C.  Social Media Benchmarks for Other Platforms Truth be told, while TikTok and Instagram are the catchier social platforms of today, let’s not forget there’s an interdependent connection between all the social platforms out there. Naturally, changes within one have - to a heavier or lesser extent - influences over the others. Therefore, to gain a deeper understanding of the landscape and understanding of the trends, it’s important to look at the whole picture as well. So, let’s head over to Facebook and Twitter for just a bit and explore the most engaging industries on these networks as well. In Facebook’s case, the industry that scored the highest engagement rate was the food and beverage sector. With the platform’s main users being men and women between the ages of 35 and 44, it’s safe to say that brands within these industries that target that specific segment should have a good chance of reaching their goals by leveraging this network. As for Twitter, that platform’s average engagement rate has remained flat for quite a while now, with arts & crafts, jewelry, and food being the best-performing line businesses. An important takeaway would equally be that although Instagram and TikTok are the main driving forces behind the popularity of video content on social media, older platforms have gradually started to incorporate more and more features for video content consumption. Take Facebook Rooms and Reels as an example, two of the platform’s most recent additions. Final Thoughts Social media started as a pioneering tool for building connections and building communities but has since evolved into a captivating stage for entertainment and content creation, especially for brands. One cannot help but reminisce about the days of MySpace, Hi5, and Facebook when social media first came around. Despite the success of some industries on social media, there has been a noticeable decline in engagement rates. In order to thrive in this ever-changing landscape, brands need to benchmark social media engagement rates across all key platforms, along with data relevant to their industry. Predicting what the future holds for social platforms is not easy due to their dynamic nature. Only time will unravel the answers.

TikTok's Engagement Rate Is Dropping in 2023: What This Means for the Future of the Platform

What does the data behind a thriving TikTok marketing strategy look like? While everyone praises TikTok and the pressure of joining this new network knocks on every major brand’s door, one of the questions that are on every marketer’s lips is to what extent a business can benefit from launching a TikTok account. Since data is the most powerful driver of every business decision, the team from Socialinsider teamed up with Wave.video and analyzed over 600k TikTok videos to dig up some performance benchmarks that could help social media managers better establish their brand’s TikTok marketing objectives when deciding to join the platform. Here’s what they found. The engagement on TikTok is skyrocketing - reaching the highest value across all social networks - 6.72%. As opposed to other social media networks, like Facebook or Instagram, when displaying the engagement metric, TikTok uses a different formula - calculating it by the number of views instead of followers. That’s because, in the case of an exclusive video platform, such as TikTok, video views are more relevant than the number of followers, especially considering TikTok’s algorithm that shows content based on topics of interest and not on accounts followed. However, regardless of the way social media managers may choose to look at this KPI, one thing is certain - that TikTok is unquestionably the most engaging network of today, as proved by the chart below. Having set the record straight to where TikTok stands in the social media scene from an engagement point of view, the Socialinsider team wanted to dig further and uncover what’s the average posting frequency in 2022 and how this metric evolved over the last year. As you can see in the graphic above, TikTok is clearly expanding not only from a user base perspective but also in terms of content published within the platform. With an average posting frequency of 20 videos published monthly per account, that’s visibly on an ascending path, the platform’s positive ROI is highly evident. In addition to this, the Socialinsider team also found that an account’s viewership is likely to increase when including a mention. While the most successful accounts indicate that short captions are the way to go on TikTok, and data confirmed that including a mention leads to higher viewership results, for increased chances of hitting the jackpot with this social platform, it’s equally recommended to have an SEO-oriented copywriting strategy. With TikTok being a network where the waters are not that clear yet, making data-backed decisions and optimizing on multiple plans are two of the smartest ways to approach TikTok marketing. To discover the rest of the study’s additional elements and considerations, check out the full report . here

Performance Benchmarks for TikTok in 2022

I think we all started the decentralized/blockchain project thinking we could change the world. We intended that it would be free, egalitarian and full of leisure. No more centralized governments or corporate overlords, we would all have a say and all the access to resources and of course, all the money. It has been over 13 years since Bitcoin and about 7 since Ethereum (that’s not long really) started and we have become the new CDOs (Derivatives) for Wallstreet to gamble on. We have lost our way In 2017, all that time ago, the original guides to Solidity on Ethereum’s site were for Basic Income, Crowdsourcing (that became ICOs), and DAOs - direct democracy. ICOs took off but where are the UBI and global democracy since then? Just like .com the ICO become the dominant use for crypto because it resembled the previous order. The order we were trying to disrup... Revolutionize. We still have the tools so we can still make the new world we imagined. Here’s a plan We create an Integrated decentralized Guaranteed Income (GI) of 30k (K30,000), with a fully-scaled “ice” (solid liquidity) stable coin, face recognition based verification of unique identity  + Arbitration based objection to weed out fake accounts. Demurrage and flow siphon (transaction tax) to control inflation/deflation. Automated self-lending (DeFi) service, coin/token/fiat exchange, And social money for civic organizations (true global democracy). Decentralized Any decentralized engine can be used provided it does not use Proof-of-Work (PoW) because that is a waste of energy and it kills the environment, or Proof-of-Stake as it leverages wealth onto power and responsibility and relies too much on game theory to be trusted. It would be preferable to create a decentralized system from scratch or use a Virtual Machine for an existing system. It is important that the system protocols are set in place at the start, you know it and can rely upon it. No politician or corporate raider can change the rules or grab your data for their own purposes. The code for all that on top of the Decentralised engine will be open source so if you find this system wanting you can copy and paste the code and then tweak it for a new system. Universal Income This will be tiered based on the period (time) of no objection to unique personhood. First-year is 3,000 (Newbie), the second 10,000, third is the full payment of  30,000 per person per year paid daily (Citizen). Once you get through the first 3 years you will be a citizen. It would be nice to give all access to everyone at the start but that is not our world, a world of Twitter bots and fake news, and Facebook, and Chinese internet armies. Stale Account Citizens must: All citizens will need to select what will happen to their money/debts/assets at death and or the cessation of their account, and how this will be determined (cessation may be determined by failing identification test/s). This is essentially writing a will when you become a citizen. Another citizen will need to be selected to receive the account balance, debts, assets, etc. The Citizen will need to accept the responsibility of a ceased account. If you cannot find someone to accept your ceased account, your borrowing from the Credit system (see below) will be limited to tier 2 and any debt annulled on cessation; and post-cessation the ability to open a new account other than newbie will be voided. A citizen must appoint a citizen or a decentralized Oracle that is not in the “will” to determine death or permanent abandonment. If the Oracle disappears before the user does it will be referred to arbitration. Simply, citizens must choose an Oracle/Citizen to determine their circumstances. And, other citizens to receive their money, debts, and assets. Akin to appointing an executor, and beneficiaries. Stable Coin An automatically adjusted coin based upon an index of fiat currencies compared to gold. A quorum  (the greater of 3 or 10% of active Oracles – an Oracle may switch on or off activity) will need to enter the exchange rate values they see daily using whatever external means they see fit and the median value will be taken for the daily adjustment. If a quorum cannot be reached the value remains as it was. This adjustment will occur when a new day begins at the international dateline. At some point in the future, the coin will be traded for gold as much as the fiat currencies in the index. 12 months after this point the scaling can be abandoned. Simple Scaling  - Ice (stable liquidity) The Base coin is fully scaled in comparison to a weighted index of fiat currencies (USD, GBP, Euro, Yen, AUD) in reference to  Gold. Coin  = to Base Coin x scale_factor (ratio) Transaction: If you receive a payment today a Base would be derived by dividing the Coin by the scale factor at the time of the transaction. This new Base is added to previous Base amounts and your balance is the Base x the new scale_factor. The scale_factor is published daily and accounts are adjusted accordingly. Scale_factor = (1/price of the base coin in relation to an index) Index = Weighted USD, EU, GBP, Yen, AUD against gold Essentially if the price is low you get more money, if the price is high you get less. The assumption is people will trade at  1 to 1 for ease of use as it doesn’t matter what price you buy and sell as the purchasing power remains the same. Example: Say the coin is worth 0.5 Fiat Your account has 2 base Coin, therefore, your account balance is 2 x (1/0.5) = 4 So you can buy exactly two fiat currencies. Someone holding a fiat currency (there will be arbitrage between the fiats) can buy 2 Coins for 1. 1 Coin worth 2 Fiat Your account has 50 base Coin, therefore, your account balance is 50 x (1/2) = 25 So you can buy exactly 50 fiat currencies. Someone holding a fiat can buy 2 Kratia for their 1 This is a novel and incredibly simple way of doing stable cryptocurrency which never changes supply but equalizes purchasing power. If the currency is close to worthless (say 0.01) you have a  lot more, if it’s worth a lot (say 10,000) you have less. There is no point in buying or selling the currency at any price point other than 1 to 1. *The Brazilians did something similar with a virtual currency to control inflation in the 1990s. It became their current currency. Essentially they had a currency pegged to USD virtual currency so that all wages and prices were quoted. The Govt released the ratio. People quickly stopped upping prices in advance. Inflation Control We are creating much money from nothing so to control the money supply the base is adjusted with demurrage (2.5%), and a small  (1.5%) transaction tax to control velocity. This will stabilize the amount of money in the system. If Coins sit idle in your account they will decrease on a daily basis by the equivalent of 2.5%pa. Every time you transfer a Coin 1.5% will be destroyed. In a perfect system, the demurrage will occur by the second, or millisecond but we will do it as close to this as possible. The flow siphon or transaction tax will make 1.5% of all transactions disappear. So if your seller expects 100 Coins, you should transfer 101.50. If you advertise a sale for 99.00 expect to receive 97.515. This will discourage idle money and non-productive and lengthy supply chains (ie: producer – aggregator –  exporter – importer – wholesaler – distributor – major retailer – micro retailer – consumer), while controlling inflation. The transaction tax will not control High-Frequency Trading (HFT) as most of this is done in separate centralized markets. And as such will not have the transaction tax applied per transaction but only on deposit and withdrawal. This is actually a good thing as currently there isn’t a decentralized ledger system that could handle the number of transactions done via HFT. Verification of a Unique Person To open an account you will just need a simple face recognition test. Anyone can object to another's volition, but only 1 fails per 6 months. If you object, it goes to arbitration and if your objection fails you cannot object again for 6 months. Otherwise, there is no limit to the limits of reason. The arbitration objection Anyone can object to someone's unique personhood, this is then sent to arbitration where randomly (this is different from Kleros where they use staking) selected arbiters decide if the “person” is unique. Any citizen can be nominated as an arbiter and get a small fee. Kleros is currently using something similar and I think there are flaws with the staking. The idea that we trust people to do the right thing first and weed out bad actors afterward has promise on so many levels. Most of all it smooths access. SocialCoin:  extra money for social services You will also get free social Coin that can be redirected to organizations that you support. You will receive 10,000 SocialCoins per year paid weekly. There must be indisputable and embeddable (placed into an algorithm on the ledger) criteria for an organization to receive this extra social money. The account/wallet must not belong to an individual. It must be a collection of unique identities creating a new wallet for which they are responsible. There must be at least 3 wallets attached to the new wallet, and the registry of members must be transparent. It must have a democratic (DAO or liquid democracy) system of governance. One that is embedded in the decentralized system, where all contributors can vote. This must be completely transparent and viewable by all. The wallet (It) cannot send funds to its members. The purpose of the social Coin is to provide Civic Organizations with money and replace current governmental civics. Liquid (Direct) Democracy Liquid democracy should be used to write laws, but not procedures of trade, quality control, and conflict resolution, rather for the rare changes to the Civic Associations management and overriding principles, practices, and policies. Implementation of decisions made should be entrusted to those creators, builders, maintainers, and organizers elected and hired to do so. Also, your allocation of Social Coins is your greatest vote. If the Civic Association is not doing what you want, use your monetary votes (Monetary Democracy) to support another. How it works Choice 1: Monetary Democracy – moving your Social Coin to those Civic Organisations supporting you. Choice 2: A proxy, direct voting, and proposal system. Proxy The purpose of proxying is to speed up the voting process by concentrating power, but also to ensure everyone has had some say in each vote while freeing many people from the effort of analyzing many proposals. If a person does not want to vote on a proposal they must proxy their vote to someone else. Only one vote is proxied (the cost of 1 token). The proxy is secret so the receiver of the vote is not aware whether they are voting for themselves or another and therefore must act on their own conscience. If the proxy also decides to proxy their vote the one (or many) that they have received will also be proxied forward. If a person proxies to someone who has already proxied their vote to them creating a loop an error will appear and they will need to choose another proxy or vote themselves. The proxy availability will end before each vote allowing people to change their proxy if loops occur. The loops may be long. The system is run through a smart contract which will allow the proxy to be canceled at any time, to run unmonitored for any period of time, and allow different proxies for different topics. Proposals Each proposal is broadcast for debate and improvement. Only the proposer can amend the proposal. Once it has been accepted by at least 2 sponsors who must forfeit their own vote (with any proxied votes) and  100 Coins – to prevent many unvetted proposals from being put to the vote. It must then be packaged with an Implementation and Compliance protocol which will be broadcast before voting starts. Implementation and Compliance Decisions are useless if they are not complied with. As part of each proposal, a system of checks and penalties will need to be packaged with them. Most should be embedded in new smart contracts and attached to the payments for building/implementing/maintaining each rule/law. Final Thoughts It is a beginning. Not an end. A simple system that does not rely upon centralized people and engrained hierarchies to provide the things we are used to. It is Democracy – true people power. Also published here.

Cryptosociety 2.0

Despite being a fairly new profession, social media management has become a vital aspect of any business that wants to increase brand awareness and drive conversions. If some time ago, the social media manager role might not have even existed, it is now a reputable career that yields more and more opportunities for those who choose to pursue this professional path. However, the field is constantly changing, so a digital marketer’s attributes can still be a little blurry, both for those who want to hire professionals in this industry and for people who wish to pursue a career in social media. social media management A social media manager’s role is often confused with a community manager or a social media strategist. It’s often undervalued or underestimated by people who don’t precisely understand the duties of a marketing specialist. The job has become much more complex than it used to be and, in some circumstances, even vital for a company’s growth and success. A put together by Socialinsider unravels what it means to be a social media manager in today’s marketing world, from a temporal perspective. complex report 1. Childhood and education According to the research, there are no deciding characteristics for working in marketing. As children, social media administrators exhibited personality traits such as inventiveness, imagination, and a passion for studying and reading books. Not all social media managers surveyed or interviewed have a degree in marketing (or any degree), but most of them studied humanitarian courses. Statistically, 50% of them have a Bachelor's Degree. Although social media managers don't necessarily attend certified courses, they believe it is mandatory to be inquisitive and self-taught. 2. The career of social media managers A social media manager’s main task is to manage several social channels on a daily basis, but they also have to create the content for those platforms, put together social media strategies, report on the channels’ performance, act as a community manager, and even as a customer success manager sometimes. Because social media management is a new field that is regularly growing and developing, social media managers’ workdays are dynamic. Which is exactly why they have to master a bunch of abilities to juggle with all sorts of assignments and responsibilities. Social media managers have a dualistic nature: they must possess strong analytical skills while also being imaginative, as well as have copywriting, communication, visual design, and research skills. However, even with all of their abilities, social media specialists face multiple challenges. Their main job struggles are to create engaging content and compelling content, increase the traffic, and reach and grow the target audience. But at the end of the day, regardless of the challenges that may come along the way, working in social media marketing is enjoyable and can bring great satisfaction. Social media specialists' main satisfactions are to come up with an excellent content idea, seeing their clients honestly happy, growing a community, and meeting with industry experts. Another crucial aspect of every social media manager's job is learning how to manage client relationships. Building a successful agency entails numerous factors. It's critical to build and maintain strong, valued, and good client connections in addition to doing excellent work. The three main steps to every successful relationship between a social media management agency and their clients are: Performing a social media content audit (aka the discovery stage). Building a long-term strategy. Perform constant monitoring. 3. Future prospects of the social media industry The social media industry has a bright future ahead of it. Many people have established their jobs via social media, from chatting and connecting with one another to trading ideas and sharing knowledge. Below are social media managers’ thoughts on future social media trends: Video will be the most popular sort of material. Because our attention spans are shortening, short video formats will win out. Influencer marketing will become more dependable. Authentic and relatable content that communicates directly to customers is becoming more popular.

The Life of a Social Media Manager, According to Experts

In 2022 all of the internet is talking about TikTok. Whether it's about the platform's new features, how much revenue it produces, or its high engagement rates, TikTok is on every marketer's mind and lips these days. Gen Z and Millenials' social network - TikTok - raises so many challenges for brands and creators alike as it requires a level of creativity and authenticity matched by no other social media platform. Having the fastest growth known so far, this video-exclusive social media network quickly became the top-leading one in terms of engagement. TikTok’s average engagement rate in 2022: 5.96% As has revealed, at the moment, TikTok's engagement rate is located at an average of 5.96%. Socialinsider's 2022 social media industry benchmarks study TikTok's engagement values are far superior compared to the engagement rates of the other social channels, which are facing significant fall downs. The overall drops in engagement - especially in Instagram's and Facebook's case may have the two most impactful causes. With more and more people turning their eyes towards TikTok, either it's just for testing and exploring the platform, there's less attention that can be offered to the other two. Also, even though data has proven video content is the most engaging one across all social platforms, Instagram is still seen and used as an image-first channel. Not to mention Facebook, which is primarily used for driving traffic to the brands' websites. TikTok engagement benchmarks TikTok's engagement is still highly fluctuating in 2022 - as the number of brands joining the network is slowly but surely increasing. Therefore, as a result, different industries are more or less successful in getting the attention they desire. Truth be told, some industries are simply luckier to have broader audiences than others. This, in the end, makes it natural for some businesses - thanks to their line of operation - to have an easier time communicating with their audiences and keeping them more engaged and responsive. In 2022, the FMCG sector is the most engaging one on TikTok, having an average engagement rate of 15.82%, doubling its values compared to last year. Still, this is not the only industry that seemed to have found its voice and audience on TikTok, succeeding in doubling its engagement over 2021. The Beverages, Automotive, Travel, and Home-Living industries as well are some of the ones that seemed to have improved their TikTok marketing strategy, being rewarded with double engagement values. Although their average TikTok engagement rates are still pretty behind the FMCG's sector value, who knows what the future may bring. Right? To prove TikTok's great marketing potential and how much weight it can have in increasing brand awareness, or even sales, it's worth mentioning that in 2022, TikTok's average engagement rate has grown by 14.26%.

TikTok's Engagement Rate is an Average of 5.96% in 2022

Like audiobooks, podcasts are episodic audio series that can be streamed, downloaded, and replayed. Even though everyone can start a podcast nowadays, creating an effective one requires time and effort. While businesses integrate podcasts into their overall social strategy for different reasons, they all want the same thing - to have success (aka generate great ROI). By , you’ll learn, iterate, and improve from season to season and why not, even episode to episode. measuring your podcast performance So, how do you measure podcast ? ROI Well, this depends on your end goals, which can be to increase brand awareness, boost engagement, or generate leads for your business. This article provides a list of seven methods to consider when analyzing your podcast’s success. 1. Number of listeners This is probably one of the podcast metrics that first comes to mind when measuring podcast ROI. If your marketing goal is to increase brand awareness, then your number of listeners is a key metric to consider. It’s not only easy to access and track, but it’s also pretty intuitive to note insights: usually, a significant number of listeners means you’re on the good path, and you managed to gather a consistent audience that wants to regularly listen to your podcast episodes. Your number of listeners can also influence the revenue that your podcast receives from a streaming platform or any ads placed in the episodes. However, the number of listeners doesn’t necessarily guarantee success. If you have a niche podcast, you’ll inevitably have a smaller audience. Keep in mind that while overall numbers are important, they mean nothing if they’re not placed in the proper context. 2. Number of downloads per episode While pretty similar to the number of listeners, the number of downloads per episode is a metric that most closely resembles your actual audience size. Downloads help you measure how many people you’ve reached, including people who want to listen to your episode later or multiple times. Because both the number of listeners and number of downloads per episode are vanity metrics, marketers usually hang up on those. But it’s important not to obsess over them, especially if you just started your . podcast journey While it’s crucial to know how many ears you’ve reached, these numbers represent only one piece of the puzzle, and they depend on your business goals. 3. Website traffic Increased brand awareness is usually directly related to increased site traffic and conversions. After getting an overview of how many listeners you’ve reached, you should ask yourself how your site analytics is doing concerning your podcast? One of the ways you can learn more about how your audience size has changed over time is by measuring your website traffic from the start of your podcast to the most recent episode. Additionally, you can perform the same analysis on your social media channels and see if your following number has changed in any way. There are a variety of metrics to consider when , so here’s a list to begin with: analyzing how your podcast is influencing website traffic Traffic to your podcast website Website traffic before launching the podcast vs. after launching Engagement on social media channels Followers’ growth on social media channels 4. Engagement There are several ways to promote your podcast, but the most common ones are through social media or email campaigns. But just promoting your podcast isn’t enough, and like every other marketing plan, you should have specific goals in mind and track your results over time. Are you getting more likes, comments, and followers as you release more episodes? What are the open rates and click-throughs on the newsletters that promote your new podcast episodes? These are the kind of questions you should keep thinking of when promoting your podcast, as it will help you plan other promotional content that best fits your audience. Another thing that you should do that can increase your engagement rates is to take the time to respond to comments on your posts. You should also pay attention to what people are talking about on social media because these conversations can give valuable insights into what people want to see. 5. Podcast reviews Podcast reviews are potent forms of social proof that contribute to building the authority and trustworthiness of your business. It’s essential to look at what people say publicly about your podcast because they can provide helpful suggestions on where to improve your podcast or confirm your strongest suits. The overall public opinion of your podcast can influence what you determine to be podcast ROI - the more positive comments, the bigger the success. Additionally, you can use your positive reviews for marketing your podcast and attracting new listeners or even potential customers when making decisions in the business space. This is one podcast metric that you can correlate with one of the overview metrics mentioned earlier to determine the success of your podcast. For example, you may not have many downloads or listeners, but you have excellent reviews, which means that your niche audience enjoys what you do. And this is also a form of success, right? 6. Repurposing content Regularly posting podcast episodes is the perfect pathway to repurposing content. And believe me, there are many ways to recycle your podcast content. You can transform your podcast episodes into videos, tweets, other social media posts, blog articles, and more. For example, the team at Socialinsider has a weekly podcast called , where they talk to social media managers from different well-known brands. They use the social media managers’ insights and turn them into brand analyses, looking at their overall social media strategy, campaigns, and content strategy. Insider Insights This series helps them not run out of content ideas and assures them continuity. It also helps with promotion, as they can mention the social media managers or the brands to gain people’s attention. 7. Sponsors and advertisers Probably one of the most straightforward ways to measure your podcast ROI is through sponsorships and ad revenues. This traditional ROI works by subtracting the money you spent on producing your podcast series from the amount you receive from ad revenue. If the number you get at the end is positive, then you’ll know you made a great ROI. The formula to work out ROI if you want to include this in your podcast strategy will look like this: Ad Revenue – Expenses = ROI However, while advertising and sponsorships are great for gauging ROI, it also comes with a cost you should consider: most people don’t like to be bombarded with ads in the middle of their listening. Conclusion There are many ways to determine if your podcast is worth producing and even more methods of tracking its success. In a nutshell, measuring your podcast ROI is dependent on your end goals. If you want to generate revenue, you should focus on sponsorships and advertising, but if your business goal is to increase brand awareness, you should take a more holistic approach. This list is by no means exhaustive, but it should give you a starting point if you’re planning to start to determine your podcast ROI.

How to Measure the ROI of Your Podcast: 7 Metrics Indicate Success

With so many brands turning to paid social media advertising to increase their sales and improve their ROI, you have to make sure you juggle paid marketing budgets as well as you can. So, before starting an ad campaign, ask yourself a couple of questions that may save a great deal of your money and also generate incredible results, like: which platform has the lowest CPC? where to place the ads - stories, feed, or video? which platform gives the highest CTR? Recently, the team from in which they showed which ad placement is more suited for different campaign objectives, along with other interesting findings of CPC and CPM on Facebook compared with Instagram. Socialinsider has come up with a study regarding the performance of Facebook and Instagram ads , In a nutshell, it seems that Facebook feed is the perfect ad type for generating traffic and conversions, while Instagram stories are an excellent ad placement to increase brand awareness. The full report covers a range of elements, but here are the major actionable insights from the larger data set. 1. Increase your brand awareness through Instagram stories ads Social media advertising implies a bunch of goals you can set for your ad campaigns. However, the two most common objectives businesses set for their paid posts are brand awareness and conversions. This means paid ads on social media may have a crucial impact on those customers at the beginning of the buyer journey and those located towards the end of the marketing funnel. First things first, before having gained the consumers’ trust and convincing them to make a purchase, any brand has to start by making itself known to a targeted audience. And for being the king of engagement across all the social media networks, Instagram is the perfect platform to set your brand awareness ad campaigns. The reason Instagram is such a success and why Instagram ads started to be on a greater focus for brands that are doing online advertising is simply because this platform targets a younger audience, those digital natives that brands dream of having in their corners. This makes for a good reason why, at least by mid of 2021, brands started investing more in Instagram ads, as the ad spend increase is greater for Instagram compared to Facebook. Despite allocating double budgets for Facebook advertising, this year brands seem to invest 7.16% more money on Facebook and 8.69% more money on Instagram. Therefore, this is the moment you have to start analyzing your ads strategy because it might be the time for you as well to put more money on the table for Instagram ads. Look at your competitors! Are they doing it? Do your research! It may save you a great amount of time and money in the future. Although most brands choose the Instagram feed as their primary Instagram ad placement, here’s a sweet tip for you: go for Instagram stories instead. The Instagram story ad placement does not only have a lower price compared to the feed, but also a higher click-through rate. With just a glimpse over the numbers, it’s no wonder why more and more brands are using Instagram stories as an advertising technique. Not to mention the fact that it is one of the most appreciated types of content on the platform. 2. Get more traffic by placing ads mostly in the Facebook feed Once you have started creating brand awareness, you’ll want to get those potential customers as deep as possible into the marketing funnel. When it comes down to conversions achieved through social media advertising, which is something brands monitor carefully, there ain’t nothing remotely similar to the power of Facebook ads. For having an average click-through rate of 3.05%, compared to 0.67% which is Instagram’s, Facebook is certainly the go-to platform if you want to increase your traffic and your sales generation process. The most converting ad type on Facebook is by far the one in the Facebook feed. For an average CPC of $0.26, which must be mentioned - it’s the second cheapest cost you may get an average click-through rate of 4.69%. Just how great is this? When you’re going through your numbers, making and optimizing your ads budget, you should also take into consideration that Facebook video feeds is the second most converting ad type, having the lowest CPC, of $0.13 on average. This surely emphasizes the popularity that video content has gained on Facebook and not only. And here’s one more thing you need to know. If you saw the story ad type works great on Instagram and thought about replicating it on Facebook, you shouldn’t bother. Indeed, the story ad type is killing it on Instagram, but for Facebook, the situation couldn’t be more opposite. For being the most expensive ad placement, with an average cost per click of $0.55 and having the lowest click-through rate, of about 0.09% it is certainly the last Facebook ad placement you should consider if you want to optimize your costs and have great results.

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