When you’re using social media marketing to promote your business, you would want to know if you’re getting a proper return on your investment. That’s exactly what social media marketing metrics are for.
These metrics are imperative to improve the social media presence of the company or brand. The social media metrics will give you an idea about the impact of your social media marketing activities on your business using various data.
No matter what your brand’s goal or ambition is, the social media metric will help you achieve it. It is essential to have a successful social media strategy that evolves as new platforms come into play. There are plenty of social media metrics to choose from as each platform has its own set of metrics.
Why Do Social Media Metrics, Matter?
Why do brands use social media metrics? Does it work? With social media’s rising significance in the everyday lives of so many people, you can successfully reach your target market across several platforms. However, if you aren’t measuring the correct social media analytics, you won’t know if your resources are being used effectively.
Analyzing your social media marketing performance can assist you in improving your business marketing strategy so that you may get more followers, enhance engagement and brand image, track ROI, and increase sales. It also tells you what your audience particularly wants and how to improve the user experience. Besides, these metrics are a great way to get an inside view of how your company is doing online and how your target audience perceives you.
Important Social Media Marketing Metrics To Track
To make sure you don’t miss out on any important number, we have compiled a list of the most important social media marketing metrics that would be beneficial for your business.
1. Brand Awareness: Impressions And Reach
How much reach does your brand get? Is it well-known or do you have a niche-based audience? Brand awareness will give you all these data to work with. These social media marketing metrics are here to serve the business goals.
And if your goal is brand awareness and perception, then impression and reach are vital components to determine. Impressions and reach are two social media metrics that will help you to understand your target audience and how well they’re engaging with your company.
Impressions refer to the number of times a post pops up in a user’s timeline. And the number of unique visitors a post might have is referred to as its reach. If you want to get a complete picture of how your social media material is performing, you should use these social media metrics in conjunction with other data.
Although impressions can tell you a lot about your content’s potential for social visibility on their own, it’s also vital to look at other metrics that optimize performance. If you want to increase awareness while also engaging with your audience, you’ll probably want to seek a combination of impressions and engagement.
For instance, if your post has high impressions count but a low engagement rate, then it means your post didn’t cause the user to take any action after seeing it in their feed.
2. Engagement Metrics: Likes, Comments, And Shares
Engagement metrics are one of the biggest and most crucial metrics to measure and understand social media performance for your business. This metric is frequently used to evaluate the engagement rate of the audience with your content and how effective your brand campaigns are.
There are different kinds of engagement metrics, and they show the number of people interacting with your post. However, do remember that not all of your content needs engagement. Like with most other metrics, implementing only engagement metrics won’t give you the desired marketing outcome you want.
The engagement rate refers to the number of interactions with your content measured by the total number of impressions or reach. High engagement rates indicate how receptive your audience is and how many active and involved followers you have.
Likes, Shares, Comments, And Clicks
These individual engagement metrics provide you with the total number of engagements for your post or content.
3. Social Media Conversion Rate
Conversion rate is a great way to measure the effectiveness of your campaign engagement and how relevant it is to the audience. It refers to the number of visitors who execute the desired action for your website. The action could be clicking on the website link, downloading an eBook, looking at a visual presentation, subscribing to your newsletter, and many more.
Your conversion rate is so crucial that social media sites, and analytics tools, prefer to prioritize it in your stats. If your site is getting a lot of engagement, but the conversion rate is still low, that is not a good sign. You may need to change your strategy as per this data. Referrals, conversions, and click-through rates are all part of conversion metrics.
Engagement turns into conversion when someone purchases anything from your website or performs an activity that you have asked for.
Referrals let you know how a user ended up on your website. You’ll see them divided down into sources in web analytics. You can watch the “social” source to find referral data for your desired social media.
CTR is the ratio of the number of times a user clicks on your content to the number of impressions you receive. A high CTR leads to an effective and successful campaign.
4. Customer Response Rate
Getting your customer’s feedback and knowing what they think about your campaign is really important, and that’s what customer social media metrics tell you.
Make sure your customer care staff answers all the questions and concerns of the customer and responds to as many social media mentions as possible. Just like the performance of your post and content, you need to be careful about the customer experience as well.
The customer response rate will give you a clear idea of how you’re performing. Testimonials, customer satisfaction (CSat), and net promoter score (NPS) fall under these metrics.
When a customer shares any review, rating, or form of endorsement for your brand, it is considered a testimonial. Testimonials assure your potential clients that your present customers are pleased with your products and services. This not only enhances the credibility of your brand but also builds trust among your customers.
Customer satisfaction (CSat) lets you know the customer’s fulfillment level or how happy they are with your services. The Brand asks the customer if they are pleased with the service to measure customer satisfaction (CSat). And the customer can give their feedback quantitatively or sentimentally.
Net Promoter Score
It’s similar to CSat, but customers are asked a different question. The question is, how likely are you to refer our company or service to a friend? Customers can answer this on a 0–10 scale.
5. Social Share Of Voice
If your company has a lot of competitors, then the share of voice metric would be beneficial for you. Social share of voice gives you an insight into how much market your company is capturing compared to your competitor. It is the best way to track volume and sentiment.
Volume tells you how many times your name is tagged, how many times you are referenced in a social media post without being tagged, and also how many times your brand is used in a hashtag.
Companies always aim for positive sentiment. Unlike volume, sentiment doesn’t tell you “how many”. Rather, it measures the customer’s attitude and opinions toward the brand. It lets you know if the message you’re conveying to the audience is being received in a good way or not. That way, you would be able to identify and rectify negative sentiment before it spreads.
6. Consumer Demographic
Advertising your brand while resonating with your target demographic is another important factor that leads to effective social media marketing. The consumer demographic data tells you who are the people that are engaging with your content. You can also use consumer demographic data to create marketing profiles for potential audiences and compare the demographics of website visitors with social media viewers.
There are other social media metrics, but we have tried to gather the most important ones. With so many metrics available, it’s pretty easy to get overwhelmed. So, don’t try to track all the social media metrics at once.
Start with some basic metrics, then with time add new goals and see how effective your strategy is. Social media metrics are important because they tell if your campaign or strategy is successful over time while giving you a 360º view of your social media performance.