In 2021 we witnessed immense growth. We had a crazy bull run in the stock markets and startup space.
2022, on the other hand, was and continues to be a bloodbath. Every day the stock market seems to plummet to new lows.
All of this, paired with inflation, and war, has negatively affected startups. Funding that VCs gave out to everyone the previous year has dried out. Well-known companies such as Coinbase are rescinding offers from freshers.
Does this mean startups are dead?
Do online businesses have a chance to come out of this catastrophe? The answer is still yes!
The only thing that has changed is that startups need be profitable businesses. And that’s a good thing.
Startups still have the most significant advantage — they don’t have to go through hundreds of people, managers, and processes.
They can execute fast without hindrance. This hasn’t changed and will never change, funding or not.
But for a startup to come out on top, it must use the best tools available in the market. While startups thrive on chaos, organized chaos is an entirely different monster. Organized chaos is what makes five people Startup into a Unicorn.
If you are a founder or a part of a startup, use these tools to beat the competition in these perilous times.
A Tool To Understand Your User’s Behavior
Understanding how your users interact with your product is essential. It is important to know where your users spend most of their time and how they navigate across your app.
This information helps your designers and developers make better products.
To get this information, you need an analytics tool. And what better tool than Google Analytics.
It has been in the market for years and has been tried and tested by the best companies.
Google Analytics lets you analyze many things, such as website traffic and page traffic. You get an idea of how your user has landed on your page and their demographic.
The best part is the ease of integration. You just have to add the GA SDK to your app, and you’re done. It’s that simple. You can modify everything to your needs.
You can also determine how users interact with different components. You can get information on what buttons and links your user clicks.
In general, you get four types of data with Google Analytics.
You get user data that pertains to demographic, age, etc.
Session data keeps track of a user’s visits and time spent.
You get information on the pages a user visits.
Finally, you get event-level data. This lets you track buttons, videos, links, etc.
A Tool To Keep Your Customers Happy
Customer satisfaction and retention make or break your product. If your customers aren’t happy, they won’t use your product. It’s that simple.
You can only keep your customers happy by taking feedback, responding, and implementing.
Telegram and Discord channels arenot the best way to proceed. If you’ve played Chinese whisper, you know how details are missed as they pass different people.
The same applies here. The issue will get hazy by the time it reaches the developer. The customer might have a problem with updating his profile. The developer will hear something else from the customer relations team.
This is why you need a CRM for your developers to stay in touch with your customers. You need a DevCRM. You need to use DevRev.
Photo from DevRev
When you useDevRev, your developers become like stakeholders. They own a piece of their code and are responsible for it.
Customers can raise complaints through chat. Developers can respond to it and raise tickets or issues directly on the DevRev platform.
This allows for speedy feedback and fixes.
With the customer at the center, you provide a big push to your startup.
A Tool for All Things Design
Design is integral for good products. Users want to come back when you create a satisfying user experience.
Figma is the best tool out there for design. Anyone can start designing with their Web app. It’s great to collaborate on designs with team members.
You can also use Figma to design all of your social media banners and logos. You can create the right ones for each page.
Handing designs over to developers is easy. Developers can make use of the inspect and design buttons on the right to get every detail. They can export assets in PNG and SVG with a click of a button.
You also get many extensions with Figma. For example, one extension lets you export your Figma design directly into HTML and CSS.
Figma has also partnered with Slack. Now you get alerts about your Figma files, teams, and projects in your desired Slack channel.
You can change your Slack channels according to your specifications. Different channels can receive updates for various Figma projects.
Design is one of the pillars of a great product. Figma is a tool that lets you create beautiful designs!
A Tool To Keep Things Organized
While startups are incredibly flexible, they still need a little direction. That’s why most startups create deadlines for features.
Trello is a tool that helps teams create deadlines, organize workflows, and more. It makes use of visual boards to manage everything.
These boards are then broken down into lists and cards. It is very easy to consume information and quite fun too.
Trello makes tedious tasks such as research, sales, and training exciting.
Trello also offers multiple integrations such as Github, Slack, Google Drive, Salesforce, etc.
You can use Trello with your other tools for optimum productivity.
Trello is a great, easy, and affordable tool that can help your startup stay organized.
Final Thoughts
Bear markets do not affect great startups. Great startups make use of the best tools in the market.
Use the above tools to fast-track your startup’s progress to beat the competition.
Servant leadership is a style of management that has been growing in popularity in recent years. It is a concept that has been around for centuries, but it has only recently gained traction in the business world. There are many pros to this type of leadership, but there are also some potential drawbacks that should be considered. In this article, we will discuss both the pros and cons of servant leadership. So, if you’re a business owner, read on to learn more about this concept and what influence it can have on your business.
What is Servant Leadership?
Servant leadership is a style of management in which the leader puts the needs of their team above their own. This type of leader focuses on developing their team and helping them to reach their full potential. As you can see in this new guide here, servant leadership management is founded on the premise that leaders put the greater good first. Leaders with this management model prioritize their team and organization instead of their own goals. In addition, they are often very supportive and compassionate. They create an environment in which employees feel valued and appreciated. This leadership style is diametrically opposed to the conventional leadership model. The more you invest in serving as a “scaffold” for your team, the more efficient your team becomes, according to this leadership theory.
Pros of Servant Leadership
As you can see, servant leadership has many potential benefits. Some of the most notable advantages include:
1) Positive Work Environment
One of the first and most obvious benefits of servant leadership is the positive work environment it creates. When employees feel valued and appreciated, they are more likely to be engaged in their work. They are also more likely to be loyal to their company and less likely to leave for another job. In addition, a positive work environment boosts morale and motivation.
One study found that employees who feel appreciated are more likely to stay with their company and be engaged in their work. The study also found that employees who don’t feel appreciated are more likely to leave their job within the next year. It’s clear that a positive work environment is beneficial for both employees and employers. If you’re a business owner, implementing a servant leadership style could help to create a positive work environment in your company.
2) Better Collaboration
In addition to a positive work environment, servant leadership also fosters better collaboration. When employees feel valued and appreciated, they are more likely to trust and respect their leader. This trust and respect facilitate open communication and collaboration.
This is mainly because servant leaders are more interested in the collective success of their team rather than their own personal success. As a result, they are more likely to encourage and facilitate collaboration. In addition, servant leadership is associated with increased trust, satisfaction, and commitment among employees. It can also be helpful in reducing conflict within teams. All of these factors can lead to better collaboration and a more positive work environment.
3) Improved Trust and Loyalty
Servant leadership is also associated with improved trust and loyalty. When employees feel valued and appreciated, they are more likely to trust and respect their leader. This trust can lead to increased loyalty among employees. In addition, servant leaders are more likely to be seen as credible and trustworthy by their team. As a result, employees are less likely to leave their company for another job. All of this can have a positive impact on how your customers will perceive you and your company.
It’s clear that servant leadership has many potential benefits. If you’re a business owner, implementing a servant leadership style could help to improve trust and loyalty among your employees.
4) Transparent Communication
They say that communication is key to any successful relationship. This statement holds true for the relationship between a leader and their team. Servant leaders are known for their transparent communication style. This means that they are open and honest with their team about what is happening in the company. They also make sure to keep their team updated on changes or decisions that will affect them. This, in turn, leads to a more trusting and loyal relationship between the leader and their team.
In addition, transparent communication can help to reduce conflict within teams. If team members feel like they are in the loop, they are less likely to feel left out or misunderstood. This can lead to a more positive work environment and improved collaboration.
5) Boosts Motivation
Is there anything worse than feeling unappreciated or unmotivated at work? Luckily, servant leadership can help to boost motivation. When employees feel valued and appreciated, they are more likely to be engaged in their work. They are also more likely to be loyal to their company and less likely to leave for another job. In addition, a positive work environment boosts morale and motivation.
One study found that employees who had servant leaders were more likely to report higher job satisfaction and organizational commitment. They were also more likely to say they would recommend their organization to others. This is mostly because servant leaders create a positive work environment where employees feel appreciated.
6) Increased Employee Satisfaction
From the previous few points, it’s clear that servant leadership can lead to increased employee satisfaction. When employees feel valued and appreciated, motivated and engaged, they are more likely to be satisfied with their job. In addition, a positive work environment can lead to increased satisfaction.
This is important because employees who are satisfied with their job are less likely to leave for another company. They are also more likely to be productive and engaged in their work. This can have a positive impact on your company’s bottom line.
7) Increased Customer Satisfaction
And when your employees are satisfied, your customers will be too. That’s because happy employees lead to happy customers. When employees feel appreciated, they are more likely to go the extra mile for their customers. They are also more likely to be friendly and helpful, which can lead to increased customer satisfaction.
In addition, a positive work environment can lead to improved customer service. This is because employees are more likely to be engaged and motivated in their work. As a result, they are more likely to provide excellent customer service.
8) Better Company Performance
To sum it up, servant leadership can lead to better company performance. When employees are satisfied and motivated, they are more likely to be productive. They are also less likely to leave for another job, which can save your company money in the long run. In addition, a positive work environment can lead to improved customer service and satisfaction. All of this can have a positive impact on how your customers perceive your company. And if customers are happy, they are more likely to do business with you again.
So, if you’re looking to improve your company’s performance, consider implementing a servant leadership style. It just might be the key to success.
Cons of Servant Leadership
Although servant leadership has many potential benefits for you and your company, it also comes with a few potential drawbacks. It takes time to get to know people, their motivations, and areas for development. It takes time to translate a vision into specific goals and objectives. It also takes time to adequately explain this idea to the team. The outcomes do not appear overnight. Let’s take a look at the cons of servant leadership
1) It Can Be Time Consuming
As mentioned previously, servant leadership takes time. It can be difficult to get to know every team member and understand their motivations. It’s also important to develop a clear vision for the company and explain it to everyone on the team. This can take months or even years to accomplish.
In addition, servant leaders need to be available to their team members. They need to be able to provide guidance and support when needed. This can be time-consuming, especially if you have a large team. If you’re not careful, servant leadership can take up a lot of your time. And if you’re not able to balance it with other responsibilities, it can have a negative impact on your company.
2) It Can Be Difficult To Attain
Another potential drawback of servant leadership is that it can be difficult to attain. Not everyone is cut out to be a servant leader. It takes a special person with the right skills and personality to be successful in this role.
In addition, it’s not always easy to change your leadership style. If you’ve been leading your team in a traditional way, it can be difficult to switch to a servant leadership style. You might need to take some time to learn about this type of leadership and how to implement it effectively. And even if you’re able to learn about servant leadership and change your style, there’s no guarantee that your team will follow suit. It takes a lot of effort to get everyone on board with this type of leadership.
3) It Can Cause Confusion
Imagine if your team is used to a traditional leadership style and you suddenly start implementing a servant leadership style. This can cause confusion among your team members. They might not know what to expect from you or how to behave around you. As a result, they might not be as productive as they could be.
In addition, if you’re not careful, servant leadership can cause conflict within your team. For example, if you start making decisions without involving your team members, they might feel like you’re not valuing their input. This can lead to tension and even resentment. So, it’s important to be aware of the potential pitfalls of servant leadership and take steps to avoid them.
4) The Leader Can Be Perceived as Weak
Unlike the traditional management model, in servant leadership the leader is not the boss but a facilitator. This means that the leader does not have the final say in decision-making. While this can be seen as a strength, it can also be perceived as a weakness, especially by those who are used to a more hierarchical structure.
Some people might see the servant leader as being indecisive or weak. They might think that the leader is not capable of making tough decisions. As a result, they might lose respect for the leader. This can have a negative impact on the team’s morale and productivity.
5) Possible Misunderstandings Among Teams
Servant leadership requires a lot of communication. The leader needs to be able to explain the vision to the team and get everyone on board. In addition, the leader needs to be available to answer any questions or concerns that team members might have.
However, there is always the possibility of miscommunication. The leader might not be able to effectively explain the vision. Or team members might not understand what is expected of them. This can lead to confusion and frustration. Although you might say that this can happen with any leadership style, it’s more likely to happen with servant leadership because of the level of communication required.
6) It Can Be Emotionally and Physically Demanding
Servant leadership can be emotionally and physically demanding. The leader needs to be able to empathize with team members and understand their concerns. In addition, the leader needs to be available to provide support when needed.
This can take a toll on the leader, both emotionally and physically. The leader might feel like they’re always on call. They might not have time for themselves or their own families. As a result, they can become burned out easily.
So, there you have it – the pros and cons of servant leadership. It’s up to you to decide if this type of leadership is right for you and your business. If you do decide to go ahead with it, just be aware of the potential challenges and pitfalls. With the right attitude and approach, you can overcome them and reap the benefits of this transformational leadership style. Hopefully, this article has given you some food for thought.
Every firm no matter what it does needs to develop a certain marketing strategy, and more importantly, continuously work on enhancing it, because that’s the only way you’ll be able to grow your business.
The same rule applies to law firms. If you want to take it to the next level, you first must implement some methods that will help you attract new clients. So how can you accomplish that?
First and foremost, you must concentrate on having a first-class marketing strategy because that’s something that will help you achieve all your business-related goals. So what are the most effective strategies? Below, you’ll get the answer.
Top Law Marketing Firm Tactics To Grow Your Law Firm
Start By Identifying Your SMART Goals
You’ve read that right. We are not talking about just any goals, but the SMART ones. What does this abbreviation mean? It represents specific, measurable, achievable, relevant, and time-bound goals that can aid in expanding your law firm.
This for sure must be your first step on this journey. It’s of huge importance to identify your (achievable) goals in advance so that you know exactly what’s working and what isn’t. In these types of situations, you have to be very precise and crystal clear with your goals.
For example, you should start by saying that you want to boost the number of leads generated each month from your newsletter from ten to twenty per month. This is something that can be accomplished in several months. Now, when creating a particular goal, you must think about these things:
How many brand-new leads (clients) do you want to attract each month?
What quantity (in a few months) would you consider to be a success?
How many leads would you consider to be a failure?
These are the questions that must be asked if you want to be sure you are crystal clear with yourself in terms of achieving your goals.
Contact A Law Firm SEO Agency
Keep in mind, that SEO is key for business growth and the same goes for any ambitious law firm. Now, even though you may seem to know the basics when it comes to SEO, the truth is, it would be so much better if you hired someone who is way more familiar with it.
Additionally, SEO is a process that’s definitely worth outsourcing to the expertise of SEO agencies. Namely, these professionals will work on creating effective Legal SEO strategies that will help your firm in many ways. Bear in mind, that these experts have spent years and years honing their craft so they can offer high-quality SEO services to law firms like yours.
More Beneficial Advice Coming Your Way
Properly Develop Your Law Firm Brand
Of course, everyone knows that you have a law firm, but the question is, do people know what is your practice? What is your brand and what type of brand experience do you want your future clients to have?
When it comes to lawyers and their law firms, their brand must convey some things, such as trust, value, and effort that you make to enhance the lives of your clients. Besides these elements, you also have to think about the style, image, and voice you wish to convey.
The whole point of branding is immediate recognition and positive sensation when it is noticed. So ensure your brand reflects you, your personality, goals, aspirations, and of course, your practice area.
Your Website Should Be Mobile-Friendly
You have probably figured out by now that a vast majority of people are addicted to smartphones, meaning that in most cases, they rely on these devices whenever they are browsing the web.
This just goes to show that it’s of huge importance for every firm to have a website that is mobile-friendly, otherwise, your company will be perceived as unprofessional and unwilling to offer their users a high-quality mobile experience.
So if you want to avoid this, then be sure your website is optimized for a mobile experience. Besides, if you want your law firm to be competitive and have excellent page rankings, then you should definitely focus on this aspect of your site.
Now, if you want to ensure your website is fast and efficient on every device, then it would be wise to install a tool called Google PageSpeed Insights and it will help you monitor and enhance its speed of it.
Create Engaging Blog Posts
Whether you believe it or not, there are still people out there who are interested in reading read blogs. But of course, in order to encourage someone to read them, you must create something that’s interesting and engaging. Now, what are the main benefits of blogs?
They establish expertise and authority
Receive a lot of (positive) attention from Google. How come? Well, it’s all thanks to keywords and brand-new content. Namely, it informs Google that your site is very active and is constantly working on publishing top-notch content.
Now, if you’ve never written any blog before, yet you want to give it a shot, then check out these tips below that will give you some guidelines:
Determine a release schedule and make sure to stick to it. It doesn’t have to be something that you’ll be doing on a daily basis, but once a week would be nice. Even if you decide to do it once a month, just be sure to stay consistent.
It would be advisable for your site to have a built-in blogging platform. Why does it matter so much? Well, don’t forget that each post should abide by the same design standards because design consistency is essential too.
Now, if you do not think that you are capable of being consistent, then you have two options at your disposal: you can either hire an agency that will do these things for you or simply delete the date/time from your posts.
As an attorney, you are probably extremely busy, but it still doesn’t mean that you shouldn’t take some time to focus on developing a solid strategy that will help your company thrive. If you’re willing to do so, then just utilize some of the tips that we added here.
When it comes to our lives, sometimes we need a little help. That’s where life coaches come in! They can offer us objective advice and guidance as we work to achieve our goals. They can help us define our purpose in life, solve problems, improve our self-confidence and self-awareness, and much more. In short, life coaches can help us live happier and more fulfilling lives. If you’re thinking about hiring a life coach, here are some of the main benefits you can expect to enjoy.
They’re Objective
Don’t you hate it when you’re trying to figure something out and everyone you talk to just has their own opinion? It can be frustrating trying to sift through all of the different advice, especially when people don’t even agree! When you hire a life coach, you can rest assured knowing that they will give you objective advice. They aren’t going to try and push their own agenda onto you. Instead, they will help you figure out what’s best for you based on your specific situation and goals. The thing is that certified life coaches must remain neutral and objective at all times. So, you can trust that they have your best interests at heart.
They Will Help You Define Your Purpose
One of the most common questions people ask themselves is “what is my purpose in life?” It can be a tough question to answer, but luckily, life coaches can help. By asking you the right questions, they can help you figure out what you’re passionate about and what you want to achieve. They will also help you set realistic goals that will move you closer to achieving your purpose. For example, if your goal is to become a successful business owner, your life coach will help you create a plan to make that happen. Or, if you want to find a more fulfilling career, they will help you figure out what that is and how to make the transition.
They Will Help You Solve Problems
We all have problems that we need to solve. Whether it’s an issue at work, in our personal lives, or something else entirely, life coaches can help us figure out the best way to handle it. They will help you identify the problem, come up with possible solutions, and choose the best one based on your goals and values. Plus, they will help you implement the solution and make sure that it’s working. If you’re struggling to solve a problem on your own, a life coach can be a huge help.
They Will Help You Improve Your Self-Confidence
If you lack self-confidence, it can hold you back in life. Luckily, life coaches can help you boost your confidence and feel better about yourself. They will help you identify the areas where you need to improve and give you the tools and resources you need to make those changes. They do this by helping you set realistic goals, breaking down those goals into smaller steps, and providing ongoing support and encouragement. With their help, you’ll be able to achieve your goals and feel better about yourself in the process. Imagine being able to walk into a room and feel confident instead of anxious!
They Will Help You Improve Your Self-Awareness
In addition to self-confidence, self-awareness is another important quality that life coaches can help you with. They will help you understand your thoughts, feelings, and behaviors. This includes understanding why you do the things you do and how they affect your life. Once you have a better understanding of yourself, you’ll be able to make better decisions and achieve your goals more easily. self-awareness is key to success in all areas of life.
They Will Offer You A Different Perspective
One of the best things about life coaches is that they offer a different perspective. They aren’t afraid to challenge you and push you outside of your comfort zone. This is because they want you to grow and reach your full potential. By offering you a different perspective, they can help you see things in a new light and find solutions that you never would have thought of on your own. In addition, they can help you see your blind spots and work on them.
They Will Help You Foster Better Relationships
If you’re struggling in your relationships, a life coach can help. Whether you’re having problems with your family, friends, or romantic partner, they will help you figure out what’s going wrong and how to fix it. They will also help you learn how to communicate better and resolve conflict in a healthy way. Plus, they will help you set boundaries and find a balance between your personal and professional life. By working with a life coach, you can improve all of your relationships and make them healthier and more fulfilling.
They Will Help You Find Happiness
Last but not least, life coaches can help you find happiness. This includes helping you figure out what makes you happy and how to incorporate more of those things into your life. For example, if you love spending time outdoors, they will help you find ways to do that more often. Or, if you’re not happy with your career, they will help you figure out what you want to do and how to make a change. No matter what your goals are, a life coach can help you achieve them and find happiness along the way. They will also help you let go of the things that are holding you back and prevent you from being happy.
If you’re looking for a way to improve your life, consider working with a life coach. They can help you in so many ways, including boosting your self-confidence, improving your self-awareness, offering you a different perspective, fostering better relationships, and finding happiness. In addition, they will help you figure out your purpose in life and solve any problems you’re facing. So, what are you waiting for? Find a life coach today and start living your best life! Hopefully, this article has helped you see the benefits of having a life coach.
Instagram like any other social media platform, is becoming competitive by the day. Thousands of ad campaigns exist on Instagram, vying for users’ attention. Amidst all this, how to ensure that your ad campaigns increase or improve the conversion rate?
This following write-up focuses just the same. Read on to know more!
What is ads Campaigns’ Conversion rate?
On Instagram, the conversion rate is calculated by dividing the new followers by the users visiting your profile during a particular time period.
Instagram produces one of the highest engagements and conversions. Instagram ads is an incredible social media platform. Once you get a hang of increasing the conversion rate, you will capture the users’ attention.
Some Stats
Numerically speaking, there are over 500 million users on Instagram. Over 25 million businesses have their ad profile here. Statistics also reveal that over 200 million users visit a minimum of one instagram business profile a day. Plus, over 75% of users visit the concerned website after looking at the brand’s Insta post.
These numbers reveal that users are highly engaged on Instagram. This proves that ad campaigns have a huge opportunity at hand provided they do it right.
13 Ways to Improve Instagram Ads Campaigns Conversion Rate
Instagram has one of the highest users in the world of social media. More users mean more user engagement. How do we use this to our advantage? The following strategies will help you-
1. Appealing ads
Make more appealing ads to the extent that you touch the nerve of the audience. There are tons of products and services similar to yours. So, you appeal in a way that the user is compelled to visit the concerned website. For example, your ad campaign is about installing an energy monitor. Instead of saying, “Install an energy monitor in your house.” You say, “Reduce your energy bill by installing an energy monitor.” Convert by convincing that as a user, they must have these items.
2.Capture the users’ interest
how will you do that? The content of your ad should be such that you identify with the users’ interests. For example, you sell a beauty product and need maximum user conversion. Create a unique ad that showcases your interest same as the audience.
3.Subdivide the audience
depending on the product or service, divide your audience and create different ad campaigns. One bill fits all policy won’t lead to better conversion. For example, if you run a law firm, create separate ads to target different sections of the audience. Do ensure that you touch the nerve of the target audience effectively.
4.Storytelling
this art never gets outdated. Create and tell a story through the ad. Most people connect; emotionally when they see common people going through similar issues. For example, if you have a hair loss product, create a campaign telling the story in a structured manner. Tell the problem, the solution, and success visually. This strategy guarantees higher conversions.
5.Use friendly CTAs
all social media ad campaigns have a CTA button. What makes the difference is how you design this in your ad. A ‘Learn More’ CTA sounds more friendly and appealing to the audience. A curious user will hit the button to learn more about the brand, thereby improving the conversion rate.
6.Visual appeal
anything that the eye sees remains longer in the memory. Use more videos in the ads and add captions too. By adding captions, you not only target the audiences suffering from hearing disabilities but also the ones who wish to keep the volume at a minimum or on mute. The sound option in the ads is by default set on mute. So, the visuals do all the trick in your ad.
7.Share user-generated content
when your followers directly or indirectly post about your brand they are endorsing it for you. In a way, they vouch for you. It is like an ad campaign. You can leverage this to your advantage and improve the conversion rate.
8.Experiment around
there are different ad formats on Instagram. Carousel ads stand out and are best to sell a product because you can incorporate both images and videos. Story ads help build a brand and create brand awareness. Landscape and portrait image formats help create such ads that catch the attention of a user. Experiment a bit and see which format works best for you.
9.Instagram Carousel
why we are discussing this Instagram feature separately is because it has the power to unleash amazing content for you. With this feature, you can share relevant photos without bombarding the feed with promotional content. Plus, you can attach several videos in one post. It’s an awesome way to promote your brand and, in turn, increase the conversion rate.
10.Respond to comments immediately
some users might have a few questions before they hit the CTA button. They may prefer to leave a comment to get more details. You need to respond to their query asap. This is where a social media management company can help you. They can respond on your behalf and satisfy the query of a potential customer.
11.Highlight your customers
a great strategy to improve ad campaign conversion rate is to showcase your healthy relationship with existing customers. Use the potential of your customers to forge new relationships. People feel reassured when they see common people connected with a brand. Don’t forget to highlight this in your ad campaign.
12.Using Hashtags and keywords
make use of correct keywords and hashtags. This will allow you to connect with people who aren’t your followers. Searching through a keyword allows a user to land at your brand post and connect.
13.Measure your success correctly
a basic indicator of measuring the success of ad campaigns is the increase in the number of followers and the likes you get. But this doesn’t divulge the full picture. A clear indicator of success is when you receive genuine comments from interested users on the brand post. Plus, you have new followers willingly showing interest in your brand or service.
Mistakes to avoid
While Instagram is a great platform to showcase your brand, there are certain errors you need to avoid. Firstly, do not create an ad that looks like spam. People tend to stay clear of it. Secondly, show the product being used in your ad. This way, a consumer feels more connected. Lastly, don’t just ask your viewers to buy your product. Ensure you mention why they need your product. This tactic goes a long way in improving the conversion rate.
Concluding words
Don’t feel intimidated by the list above. Instagram is a user-friendly social media platform that allows any business to run a successful ad campaign. By following the strategies mentioned above, one can improve their Instagram ads campaign conversion rate. If, however, you feel that you aren’t able to get around it or lack the required resources it’s best to employ the services of a third-party social media management company.
Editorial note: This article is contributed by Dean Braiden
At Seek Social Dean Braiden is one of our two directors, and the leader of our marketing team. Dean can provide all the digital marketing insight your business will need, and if you choose to take advantage of data science support from Seek Social Dean and his expertise will again have a big role to play.
To measure ad performance, you need to keep track of important metrics relevant to your business. Since data varies among companies, there is no one-size-fits-all tool to monitor ad performances on social media, particularly on Facebook.
For those who are more familiar with using Excel or Spreadsheet in creating reports, it is almost similar to when using Facebook Ads Reporting. But it looks more organized since it has included the essential elements to record and track your business’s Facebook ads data.
If you are working on better monitoring your social media ads, using a Facebook ad reporting template, or creating custom metrics, you should learn more.
Steps to Create Custom Metrics in Facebook Ads Reporting
It is easy to create custom metrics on Facebook for ad reporting since the necessary information you may need for your business is already available there.
Step 1: Open Facebook Ads Manager. You can select it on the navigation menu on your Business Manager.
Step 2: Look for the “Columns Performance” drop-down button on the right side of the page and click it.
Step 3: From the drop-down menu, look for the “Customize Columns” and click it. You will then see a window open.
Step 4: From the new window, click the “Create Custom Metric” located on the right side of the search bar. Then, a new window will prompt.
Step 5: You will now see where you can create custom metrics on your screen. All the essential elements for the metrics are there. Think of a descriptive name for the new metric you want to make.
Step 6: Choose a metrics format depending on the type of metric you want to create. For example, you can choose currency if the average order value is the custom metric you want to add.
Step 7: There is also an optional box there where you can add a description to the custom metric. Feel free to type it down if you want. If you cannot think of a good idea to describe the metric, you can skip it and move forward to the next step.
Step 8: On the next row, there are elements where you can specify how you can calculate the custom metric you want to create. Later on, you will get to know the formula you can use on the specific custom metric.
Step 9: You can also set who can see the custom metrics. You can set it to “Only You” or anyone else you want to share access to in your Facebook Business Manager.
Step 10: After putting all the relevant information when creating a custom metric, check each of them first before clicking the “Create Metric” button. In this way, you can ensure that it provides the correct data.
Step 11: Now that you have created the custom metric in the Facebook ads reporting, it will be available at the top of the window. If you want to add more custom metrics, follow the above steps again and incorporate them with the right formula. You can also edit the one you already created by hovering over to the FB Custom Metric and clicking on the edit button.
Custom Metrics to Create in Facebook Ads Reporting
Now that you have the right tool to use and the steps on how to create custom metrics on Facebook ads reporting, you might still be unsure of the custom metrics you can add to your data. Here are the most common custom metrics and how you can create them on Facebook Ads Reporting.
Average Order Value (AOV)
The AOV is the metric for tracking the average amount of conversion the company gets. Divide the revenue by the number of modifications made to know its value. For a quick note, the formula used is AOV = Purchase value / Purchase.
Knowing the AOV helps you better understand specific factors that drive Return On Ad Spend (ROAS). Creating AOV in your custom metrics lets you see how it changes between funnels you use and their specific prospects. From there, you can provide valuable insights on each of the funnel stages and improve the performance of the Facebook ads campaigns as well as AOV.
Conversion Rate (CR)
CR is also a valuable metric to keep track of in ad reporting. You can easily find the CR by using the formula CR = Purchases / Link clicks. In this way, you can identify which of your funnels, links, and audiences are performing well to increase CR. You will also know which areas you should improve, so they can also deliver you a better CR in the future.
Efficiency Ratio
The efficiency ratio or inverse ROI is also an essential custom metric you can monitor. To compute it, you need to divide the calculated spending amount by the purchase value.
If you encounter a low-efficiency ratio, you are using fewer means to gain more income on the ads you are producing.
Return on Ad Spend (ROAS)
ROAS for lead ads, and other conversions aside from purchases, is an indicating factor to know if the ads run by the company are successful or not. It also determines if the profits gained by the ad campaign are relative to its production cost.
To calculate ROAS, you can divide the lead value by the total amount spent.
Thumb Stop Ratio
Thumb stop ratio, a term invented by many paid media buyers, is a metric to help you better understand how your target customers’ video or GIF ads are performing well. The data it provides gives you more ideas on how to improve creating and optimizing ads.
Conclusion
With the use of Facebook ads reporting templates to create custom metrics, you can customize and perform analyses on the relevant performance indicators of your business. You can also measure and track them easily to know which areas you need to improve.
Aside from that, custom metrics in Facebook ads reporting also provide better productivity and workflow by an easier way to export data from the platform. And lastly, it also offers you flexibility with its automation system.
Editorial note. This content is contributed by Sidhant Mehandru
Siddhant is a data analytics professional and runs a consulting agency name Eaglytics that specializes in providing end-to-end data services under one roof. His firm primarily works with digital marketing agencies and provides marketing analytics and insights services. Before this, he worked at JPMorgan Chase as a business analyst and graduated from the one of the top engineering colleges in India. Outside of work, he’s a hardcore audiophile, loves playing golf and is a licensed scuba diver
