There are numerous ways to measure results. There are just as many ways to compare ourselves and our businesses to others. Modern day marketing has generated new yardsticks, both for measuring results and for comparing. We are obsessed with big number. Big numbers are sexy.
The only problem is, only so many of these these metrics are significant. They don’t always equate to results. They’re also easy to fake. In fact, some of the most visible metrics are the most misleading.
This just may be the most overvalued metric and is possibly the most visible metric in social media. Keep in mind however that many of these followers are inactive or “bots”. People can purchase followers in bulk, so just because someone has a legion of followers, it doesn’t mean they have major influence.
Just like Twitter likes, Facebook likes can also be purchased as well. And due to Facebook’s ranking algorithm, a lot of likes doesn’t necessarily mean that your content will appear in people’s streams.
So what metrics really matter?
Some metrics truly do matter and lead generation is at the top of the list. And of course revenue matters to e-commerce businesses and the almighty dollar will always matter, correct?
Then there are the business metrics. Revenue, profit, growth, and headcount are the primary ways to measure the size of a company, so of course they matter. But aren’t these classified as ego metrics, as well?
Occasionally, yes. When they are purposefully mentioned to make the speaker feel good about themselves or there is little relevance to the context it’s the ego speaking.
Just like those marketing stats, these metrics are sometimes misleading or inaccurate. Some profitable companies are deep in debt. Sometimes headcount includes part-timers and interns.
Capital raised is the favorite yardstick in the startup world. Some entrepreneurs are obsessed with venture capital. But ask your local VC, and you’ll find that funding rarely equals success.
Social Proof vs. Ego Metrics
There’s a difference between boasting and showing credibility. It’s advisable to use numbers to provide evidence that we are legitimate. It’s called social proof, and the key is context.
Sure, when we pitch to the press or apply to job those “ego metrics” can come in handy. They establish credibility quickly. But social proof is posted, not spoken.
For businesses,such as petmarketing.net, you can show off those marketing metrics with social media widgets. Visitors can see the size of your following at a glance, but they shouldn’t distract from the content. Badges and icons from awards can show off business metrics but they appear conspicuous, in the footer.
When we meet people, we naturally want to put our best foot forward, so we’re prone to showing off. We’re also easily overawed by an e-famous person or big brand.
Let’s refrain from boasting about our big numbers. It usually ends up working against us. Instead, let’s listen more more and check those ego-metrics at the door.