How Important Are Vanity Metrics in 2021?
When I was starting my business, I would often hear that an increase in your vanity metrics does not always equal an in your bank account. That’s why most gurus teach you NOT to focus on vanity metrics. Although I don’t necessarily disagree with them, for argument’s sake, let’s take a look at why vanity metrics are GOOD for your business.
Why did I choose such a topic this week? Because:
A: Well, I want to! #AlwaysChallengeTheNorm
B: In order for you to make the best decision for your business, you should hear different perspectives so here I am with some of that “provocateurship” for you yet again 🙂
C: No one else seem to address the elephant in the room that all the gurus that tell you *not* to focus on vanity metrics already have a big following, which is a bit ironic, oxymoronic, & hypocritical if you ask me
(I have less than 500 followers on my platforms at the time of this writing, so if you enjoy this, please consider subscribing/following & passing it along to your friends)
Let’s dive right in…..
More Followers = Enhanced Business Tools & Deeper Analytics
My experience has been similar on all platforms, as you get more followers, you “level up”. Meaning, more functionalities are made available to you.
For example, when I reached 100 Instagram followers, I had the ability to view my followers’ demographics & geography (men vs women, age group, where they live in the world).
Another example is the ability to create a paid Facebook event is limited to some Facebook pages at this time. My assumption is the age of the page, how many followers, etc. I was one of the lucky ones that is able to create a paid event early in the development of this new feature.
Higher Vanity Metric Count = More Business Partnership Offers & Collab Opportunities
As you get more followers, brands and fellow entrepreneurs take notice. They want to get on your bandwagon and leverage your audience to gain followers of their own so they start offering you some opportunities for partnership. Sounds awesome, right? Well here’s a couple considerations about brand partnerships:
A: They don’t necessarily pay you for your time & effort. There’s even some shady ones that ask you for money. Unless it’s part of your strategy and fits your business vision, don’t do it. It’s OK to say NO. Sometimes an unfit business partnership can cause more harm than good.
This is part of what I teach my clients inside my ThriveMBA coaching program – Finding partners that fit your strategy is very important to creating a sustainable business.
B: If you don’t have your funnel defined by leveraging the new partnership & converting your newly found leads to sales, it can also cause more harm than good. Again, it’s OK to say NO. At least, not yet. Always keep an abundance mindset & know there’s plenty of opportunities out there.
This is also part of what I teach my clients inside my ThriveMBA coaching program – creating a funnel that fits your strategy is very important as well to creating a sustainable business.
Business Competition & Lead Conversion
Speaking of lead conversion, brand names tend to win over store brands, don’t you agree? It’s that social proof that tends to win in the market every single time! So let’s translate that to our business…..
>> The higher your vanity metrics #’s are, the more people know you in your industry.
>> The more people know you in your industry, the greater you stand out from your competition.
>> The greater you stand out from your competition, the more you become THE brand name.
>> The more you become THE brand name, the more leads you convert in your industry.
And after a while, your vanity metrics take on a life of its own & your followers grow “organically” more people refer you over your competitors & you keep gaining more followers…… and some will end up buying from you.
That is the goal, isn’t it? An “organic” ecosystem of warm leads in our orbit who are ready to buy from us. To make a sustainable business, you need to learn how to leverage the power of vanity metrics and create the proper funnel in order to convert your newly found leads into long-term clients and business partners.
Do you need some help increasing your sales this year with the power of your vanity metrics? DM me the word “THRIVE” on IG @PassionBreakthrough, I might have something for you.
Quick Bio about the Author: Dianne Shelton is a former Fortune 500 management consultant turned business strategist and certified Coach. Her mission is to help you get the clarity & structure you need to get unstuck from Idea Land to your Ideal Life so that you can share your gifts with the world.
She has helped hundreds of women through her direct, on-point coaching style that provides more clarity and just the right amount of structure. Her work has been featured on Female Entrepreneur Association, Brainz Magazine, Empowered Woman Spotlight, Thrive Global, and Medium.
She spends her free time traveling in search of good friend chicken and hanging out with her 3 younger siblings when she’s introverting at home.
Connect with her on Instagram and Facebook @PassionBreakthrough