There’s a lot of talk about social media ROI and Key Performance Indicators (KPIs) in light of Instagram removing likes from the platform. Some marketers are all for this change, while others worry brands will have a harder time justifying the ROI of their social media marketing. Our view is that if you understand and track the correct metrics for your goals, the demise of vanity metrics isn’t as terrifying as it sounds.

Yes, likes are a big part of social media, but they are far from the gold standard for engagement. For a while now, Facebook’s algorithm has given more weight to shares and comments over reactions (aka likes). This is because the platform knows the barrier to engagement is much lower for clicking an emoji than taking the time to write out a comment or sharing content on your own page.

Reevaluating KPIs based on Social Media ROI

So if we’re going to reevaluate the KPIs we track based on ROI, where should we get started? If your brand is trying to increase awareness on social media, it may make sense for you to track likes and other “vanity metrics.” But if your brand is focused on lead generation it makes sense to identify KPIs that are related to leads.

What does this mean? A recent study by LinkedIn suggests that the widely reported Cost Per Click (CPC) metric is not necessarily equal to Cost Per Lead (CPL). If brands are looking for qualified leads, perhaps marketers should be focused on CPL as a KPI. To read a synopsis of the study, check out this article by Social Media Today.

So what’s a brand to do?

Ali Grant, the founder of digital communications agency Be Social, wrote a great article published by Fast Company. She makes a case we wholeheartedly agree with: If brands focus on creating great content, and influencers focus on authentic posts, everyone will win.

Like Ms. Grant, we see the demise of vanity metrics as a chance to educate brands and decision makers about what really matters – high quality content that engages target audiences.

“As a personal user of Instagram and a business owner, I welcome the removal of visible likes. Not only is it a step toward lessening the personal pressure many feel; it’s also an opportunity for influencer marketing to continue evolving and open the door for more authentic, in-real-time content.”

Ali Grant

In Conclusion

Perhaps most importantly, this may be a path forward to minimizing the negative effects of social media on self-image. This is especially important as more platforms target younger audiences and monetize their users.

To see if your needs align with our skills; tell us a little about your brand.