Most companies today would agree that social media is an essential part of any marketing strategy. Facebook, Twitter, LinkedIn, Instagram… you have to be there! But how do you measure your social media presence once a social media strategy is in place? It is not enough just to look at the number of fans, followers or likes. You need to track the right KPIs for social media…
Social media KPIs (Key Performance Indicators) should focus on driving new traffic to your site, increasing potential customer engagement, and expanding your brand.
Why are these KPIs so important?
- They disclose your health on social networks;
- They go hand in hand with ROI;
- They influence the rest of your social media strategy and digital marketing strategy.
Even though social media is only one part of your marketing mix, with the right KPIs, you can drive your brand forward and achieve your goals.
You ready ?
Discover some social media KPIs to use in your social media strategy.
This is the number of standard interactions an account receives.
Likes are when a follower likes your post enough to interact with it. Although some platforms like Instagram and Facebook now hide the number of likes from public view, you can still see these numbers in the stats.
Post and profile shares are a great way to measure engagement. A large number of posts is an indicator of how popular a post will be. This feature has different names depending on the platforms:
- On Facebook, this is still called a post, but there are many options to choose from.
- On Instagram, use the share code for DMs or a story;
- On Pinterest, we talk about repin;
- On Twitter, it’s a retweet.
Like likes, comments are one of the primary interactions that should be tracked and promoted. It can be placed on posts as well as live streams. And like posts, comments are a good indicator of an engaging post. Not only are they meaningful as metrics, but you also need to develop a strategy to effectively manage social media comments to engage with your fans through responses and interactions.
Signals occur when an account flags your business account or mentions your brand. They can be included in a post, comment, or story for example. This metric isn’t always locally tracked, so you’ll need to use a tool to track how and how often your brand is mentioned on social media.
When someone finds out something about your business, they visit your website, sign up for your newsletter, and view your profile page. Profile visits tell you how many times your page has been viewed in a given period of time.
The engagement rate shows the total engagement your account received, which contains all the different forms of interactions. This can also include engagement rate per reach, impression rate, etc.
A post’s reach is defined as the total number of people who have viewed your post since it was posted. factors like timing Significantly limit the reach of your publication. To calculate the reach of your post, divide the number of post views by the number of followers you have. If you have 100 followers and post views is 15, the post reach percentage is (15/100) x 100 = 15% post reach.
Post Reach Percentage = Post Views / Total Followers x 100
It’s important to keep track of impressions, as social networks like Facebook may only show about 10% of your posts in some cases. For example, if you have a large number of followers but few impressions, you might consider promoting your posts. Checking your impressions is essential to understanding if your messages are getting through.
The number of impressions is usually greater than the number of followers you have. A person can have multiple impressions for a single piece of content. If your followers share your post on their profile and their followers see it, your visibility increases. This is why you can notice on Twitter that your impressions are more important than the number of followers you have.
Click-through rate (CTR)
Click-through rate (CTR) indicates the percentage of clicks an ad receives relative to its impressions. A high CTR is a good sign because it indicates that your target audience is finding your ad relevant.
If your CTR is high, but your conversion rate is low, this may indicate a problem with your landing page: your ad is attractive enough to attract clicks, but users are not taking the required action on your website. On the other hand, if the CTR is low, it could indicate a problem with ad copy or creation, or perhaps the audience is poorly targeted.
Share audio on social media (SoV)
This KPI is the advertising activity of a brand on social networks in the product category. It indicates your visibility on the Internet compared to your competitors. This is not readily available in the original analysis. Instead, you will need to select the keywords, hashtags, or categories you want to focus on.
If you want to see your share of audio (SoV) on education-related topics, for example, you should compile a list of hashtags and keywords to check out this topic. Then, you’ll use a tool to gather information about how often your brand is mentioned in these words versus the total number of times key terms are mentioned in general.
Return on advertising spend (ROAS)
If you’re running ads, ROAS is a metric that you absolutely must track. This will help you measure the effectiveness of your ads, and display the total amount generated from your total ad spend.
ROAS is an important KPI for e-commerce businesses in particular, as it helps measure the success of your ad campaign and social media strategy. It also helps identify improvements that need to be made. At the same time, this KPI allows advertisers to make decisions based on relevant analytics and data to choose the right channels in the right way.
This is the number of conversions (product purchases, website signups, etc.) that you received from all link clicks in your content. This helps show how many people are taking action with a call-to-action or call-to-action (CTA).
For example, you can create a social media campaign with giveaways, contests, and promotions to measure your conversion rate. Paid advertising is one of the best and most accurate ways to get an estimate for this KPI.
Your turn now!
Determining the right KPIs for social media is not an easy task. You need to match it with your brand and your social media strategy considering many factors. But I hope you are now able to better understand the role and work of different KPIs on social networks.
Above all, feel free to train yourself to improve your social media strategy. This online marketing training with social media strategy component presents a complete theoretical aspect as well as practical cases to perfect the subject matter.
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