Benchmarks—it’s how we measure the performance of an ad on social media channels and lets us know if our ads are performing good, bad, or ugly. While some vendors have implemented tools like the Forecasted Results Window on LinkedIn to help clients “predict” the performance of social advertising campaigns, many agencies are turning to their historical data to help answer questions like, “How many clicks, impressions, applications, or hires can I expect to get from this social advertising campaign?”
With so many options available when building out a social media campaign, predicting a standard benchmark for every possible outcome is difficult. Differences in KPIs, goals, objectives, and candidate experiences can change the dynamics of each campaign and make it difficult to predict ROI. Therefore, each campaign is usually measured differently based on specific targeting, objectives, and ad types that influence cost and performance. Social channels don’t generally provide performance or ROI predictions outside of potential reach forecasts (by the end of the blog, you’ll know why!).
The following factors (and some that are not listed) affect ROI, performance, and conversions on social channels and make predicting benchmarks difficult: