Updated January 2023: Are you patting yourself on the back because you just landed 500 new social media followers? Are you pleased about thousands of pageviews? What about 100 new subscribers in a week?
As a B2B SaaS marketer, it’s crucial that you understand which KPI is most likely to be a vanity metric and which KPI is the real deal so you can use meaningful content marketing metrics to grow your business.
In this video, we’ll walk through 3 examples of KPI vanity metrics to ditch, and we’ll cover which KPIs to use instead.
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Which KPI Is Most Likely to Be a Vanity Metric? (Transcript)
Hi SaaS marketers! Emily Amos here from Uplift Content.
It’s no secret that brands face stiff competition nowadays, and it may be tempting to tout how many followers your company has on social media—but that doesn’t necessarily help your business. In this video, we’ll talk about which KPI is most likely to be a vanity metric, and which KPIs you should be measuring instead.
What is a KPI, anyway?
KPIs, or key performance indicators, measure successes and areas for improvement. KPIs enable companies to set their content strategy, allocate budget, analyze competition and demonstrate accountability. As a B2B SaaS marketer, it’s crucial that you understand which KPI is most likely to be a vanity metric and which KPI is the real deal so you can use helpful data to grow your business.
Find out which KPI is most likely to be a vanity metric
Vanity metrics may make your company look good, but they don’t move you closer to your goals. Relying on these stats can call your credibility into question and distract from strategic priorities that truly benefit your bottom line. Here are 3 examples that demonstrate which KPI is most likely to be a vanity metric.
Vanity Metric Example #1: Social media followers
You may have an impressive number of followers, but does it mean they’re engaging with your content?
In addition to lack of engagement from your followers, HubSpot says there are over 95 million bots on Instagram, which account for nearly 10% of Instagram’s total user base. This means that a significant number of your followers may never convert into sales.
So instead of using social media followers to measure success, track how many people are clicking, commenting on and sharing your content—that’s where the real value lies.
Vanity Metric Example #2: Blog post pageviews
It may make your boss happy to hear that your blog is getting tons of visitors, but measuring pageviews on its own—with no context—is a vanity metric that just makes you feel popular.
Much more useful would be to focus on who is visiting your site and whether they’re converting into sales. You can also look at where your website visitors are coming from, what devices they’re using, how long they’re staying on the site and how many pages they’re visiting.
These metrics will give you actionable insights and allow you to make strategic decisions. You’ll also want to up your SEO game, so check out these SaaS SEO tips.
Vanity Metric Example #3: Newsletter subscribers
A classic vanity metric is the number of total subscribers on your mailing list. The number will go up over time but it doesn’t provide any meaningful information on how engaged your subscribers are or whether they’re driving any revenue.
Instead, think about measuring KPIs like click-through rate (percentage of people who clicked on a link in the newsletter that took them to your website) and conversion rate (percentage of people who took the action you wanted them to take).
You can also measure monthly opt-ins (how many people sign up for the newsletter each month) and opt-in rates (percentage of people that land on your website and opt-in to your newsletter).
Focus on actionable metrics
Now that you know which KPI is most likely to be a vanity metric, you can focus your time and effort on useful benchmarks that drive results.
What does this mean? It means you need to take action on the metrics you’ve collected by optimizing and improving your content.
Thanks for joining me SaaS marketers. Until next time!