Written by the Marketing Team September 19, 2022
How custom metrics can fuel your social media reporting.
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Step-by-step guide on how to level up your cross-channel reporting with custom metrics.
For every business and agency, online marketing strategies are different. One-size-fits-all approaches do not work. Social media analytics can greatly benefit performance evaluation and reporting. Performance marketers are always trying to find a balance between data and business. Thanks to social platforms, now brands and agencies can have access to an endless pool of data that seems to enable them to make smarter decisions on the next moves. However, with multiple networks involved and massive data volume, how do you make sure to convert raw data into actual insights that help to drive business growth?
Paragone gives you complete control over your efforts with custom metrics. In this guide, we will show you how to create your first custom metric.
What are custom metrics and why are they important?
Metrics are data that is gathered from the API of a given social network. They can be presented either as tables or in a visualized form like line charts. Besides displaying any KPI, such as the reach on Facebook or the number of own tweets on Twitter, metrics can also calculate interactions, such as an interaction rate.
There are two ways to customize metrics in Paragone. You can choose a pre-made metric from the tool and modify it as necessary, or you can create a completely new metric from scratch.
When you need to present a lot of different metrics and there is no single measure that could satisfy all your needs, custom metrics will help you achieve the best results. This will let you adjust the performance evaluation of any social media strategy and bring you much closer to presenting the numbers your superiors want to see. In case you work for an agency, you will be able to give your clients exactly what they ask for by using customized metrics. Now you know the idea behind custom metrics, so let’s see some examples.
Step by step to create your own social metrics.
Under Customization > Custom Columns, you’ll find our newly designed Custom Metric feature.
Inside, you’ll find three main areas:
- → Metric naming
- → Metric type (Numeric, Currency or Percentage)
- → Formula
3 steps to build your formula.
Step 1.
Selecting metrics
When building your formula, you can use any summable metric that is available within Paragone (Non-summable metrics such as reach and frequency aren’t supported).
You can always edit your selected metric from within the formula itself.
Step 2.
Selecting operators
You can select any of the following 6 operators.
Keep in mind, we use the standard mathematical ordering of operators in case no brackets are defined.
Step 3.
Inputting a number
You can input any number to the formula (including negatives).
Once completed, your formula will look something like this →
Then, when clicking “Save”, it’ll appear in the created formulas table:
Afterwards, you can go to your reporting and under “Custom Columns” you’ll find the newly created metric.
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