The Most Important Metrics To Track On Social Media

From counting followers to post engagement percentages, the universe of social media metrics can be tricky to master. Additionally, a significant new metric seems to be created every week.

What should you follow? Is it really important for your business? In this guide, we’ll walk you through the main basic metrics that all businesses should pay attention to based on their goals. They are widespread across all social networks. The names of key metrics may vary from channel to channel, but we’ll cover the key metrics you need to track for your KPIs, setting your goals, and tracking your campaigns.

In this guide, we’ll explain what social media metrics are, why they’re important, how to find them, and which ones to monitor. The traits you track vary by industry, activity, and campaign. Think of them as the basic metrics to build your approach to social media analytics. TOP 15 Marketing Tips on Google

What are social media metrics and why should you monitor them?

Your social media goals determine which metrics you care about. For each goal, you need a related metric, which will help you determine whether your social media strategy is measuring up or not.

For example, your company’s goal may be to increase conversions. Therefore, your social media goal becomes to increase conversions from people who visit your site through posts that are part of your strategy. Now that you have a goal in mind, you can clearly identify which social media metrics to assess and over what interval. For example, increase social media conversions by 25% in three months. To achieve this goal, you decide to run a campaign that will include ads, product tags, and influencers. To measure this, you determine that you will study social media traffic metrics and post-conversion rate in your website analytics.

Social media metrics are important because they prove you can measure the success of a campaign, and the performance of your social media strategy, and ultimately determine whether you will have an impact on your business overall. Not only do these metrics give you the opportunity to demonstrate the impact of your work to your leaders, but providing regular social media metrics reports can lead to major changes for your social media team, including increased budget and increased access to resources. Last but not least, metrics keep you informed about your overall social profile and brand health. 5 email marketing metrics for you to analyze

Evaluate the appropriate measures on social networks

Each social network offers its own native analytics. On Facebook, you’ll find them in the Stats tab. On Twitter, you will need to go to Twitter Stats. On Instagram and Pinterest, you’ll need business accounts to view your data.

If you’re just getting started and have a small budget, visiting these native analytics sources individually can be a good place to start.

To reduce the time spent pulling metrics from all of these sources, find a social media analytics tool that fits your budget and needs. The time you save compared to manually creating reports and aggregating data from different networks will be well worth the money you invest in these tools.

On Social media management, all formulas come with presentation-ready social media reports that can be filtered by platform and date. This means that custom graphs and comparisons to a previous interval are easily accessible and easy to find for team leaders and managers.

Whichever option you choose, it’s essential to monitor and chart your metrics somewhere regularly and track your progress towards your goals.

Now that you know your goals and know how to get your data, narrowing down the metrics from a myriad of options can be difficult. Social media data is so vast. We took the example of conversions. However, are there lighter measures? How should we use them? The answer is to link metrics to your goals. If you’re looking to build awareness through publishing, how many impressions are you generating? If you’re looking to build a community, how many people do your posts engage on average? All metrics have meaning, the challenge is to interpret what the metrics are telling you and translate them to your business goals. What is Google Analytics, What Does It Do?

Engagement: Likes, comments, shares, and clicks

Engagement is an important general category to track. It basically boils down to how many follower accounts interact with your account and how often. Each network offers some sort of engagement metric which is the sum total of the smaller engagement metrics such as likes, comments, and shares and many will have multiple types of metrics, or different naming conventions, like retweets vs. shares.

High engagement rates will indicate audience health (how responsive your audience is and how many of the followers are “real”), interesting types of content, and your brand awareness.

At a granular level, you’ll look at the different metrics of engagement:

  • Likes, comments, retweets, etc.: Individual engagement metrics such as shares and retweets add up. In a Twitter report, you’ll see the total number of engagements per post or profile.
  • Post Engagement Rate: The number of engagements divided by impressions or reach. A high rate means people who see your post find it interesting.
  • Account mentions: Organic mentions like @mentions that aren’t part of a reply, or tagging a brand in an Instagram story without prompting, indicate good brand awareness.

As with most metrics, looking at a single engagement metric might not give you all the context you need to make comprehensive decisions for your strategy. Looking at a combination of metrics is a great way to learn more about the levers you can pull to achieve your specific goals. For example, a post that receives many likes but no comments or shares is not so bad. Perhaps the intention of the post was to feature a nice image and a caption that is not meant to be a call to action. On the other hand, if there was a call to action encouraging comments and shares, and these are insufficient, it could be a sign of an underperforming caption. Interview Question: “Tell Me About Yourself?”: How To Answer?

Looking at the big picture is a great way to build your strategy, but keeping a close eye on one metric in particular can really help you be more agile and adapt your strategy quickly. Social media management’s Sent Message Performance report breaks down the metrics for each post and provides an average or total at the top of each column. By sorting them, you will discover which posts receive the most impressions and which have the most engaged users on average. If engagement is your goal, sorting by posts with the most engagement will help you find similarities between those posts, so you can determine which elements of those posts people are most interested in and optimize your future content.

Notoriety: impressions and reach

Commonly used but often confused, impressions and reach are both important metrics to track, especially if your social media goals are focused on brand perception and awareness.

If you’re using these metrics as a benchmark for your brand, it’s important to understand the difference between reach and impressions.

At the publication level:

  • Impressions are the number of times a post appears on a user’s wall.
  • Reach is the potential number of unique viewers a post could reach (usually the number of followers plus the number of accounts that shared the follower’s post).

While impressions can tell you a lot about your content’s potential for social media visibility on its own, it’s still important to look at other metrics to get a better look at performance. If you have multiple goals of both raising awareness and educating your audience, you’ll probably want a combination of impressions and engagement. For a post that has a high number of impressions but a low number of engagements (and therefore a low engagement rate), it probably means that your post was not interesting enough for the public to act upon seeing it. in his thread. For a post with a large reach and high engagement rate.

In this example, this tweet has achieved a very high reach because it has over 50,000 retweets. To calculate reach, we should add all the accounts that retweeted it and their number of followers. The engagement rate is also high: it collected thousands of replies, retweets, likes, etc. Analytics elements that are not visible would include clicks to expand the tweet, quoted retweets, and profile visits. However, even with what we can see publicly, this tweet was hugely successful. What is Site Speed? Why is Site Speed ​​Important in E-Commerce?

Share of voice: volume and feeling

Share of voice is a metric often used in public relations or as part of competitive analysis or paid advertising campaigns. This indicates how much of the digital sphere your brand participates in. For example, if you are a florist in Toronto, this would be the number of people talking about your brand online compared to your competitors.

Social media management’s listening features help you understand the chat volume for certain keywords. Combining this with the Trends report, you will be able to see what is most often associated with your brand and where you can improve or capture more attention.

Improving the share of voice will likely be an ongoing goal, which you measure by comparing it over time. Campaigns are fleeting but your brand is there forever. Unless your company is alone in its field, you will still be able to retain the largest share of voice but you can track how it changes over time and consider the factors for those changes.

ROI: referrals and conversions

This is the simplest example of an important social media metric and our first example in this article. Best suited to businesses with e-commerce websites or platforms, referral traffic and conversions are tied to both marketing and sales goals and ultimately major business goals. To track them, you’ll need to have a publishing strategy that incorporates UTM tracking and a website traffic analysis program like Google Analytics or an integrated platform if you’re on an e-commerce platform like Shopify.

On Social media management, you can link your Google Analytics account to show traffic sources and any Twitter mentions that relate to your site.

Referrals are how a user arrives at your website. In web analytics, you’ll see them split across various sources. “Social” is usually the source/medium you will follow, which is further broken down by network.

Conversion is when someone buys something from your site. A social conversion means that they visited the site from a social network and then bought something during the same visit.

Along with referrals and conversions is the click-through rate (CTR) in advertisements and posts. A high CTR is a sign of effective advertising. Note that CTRs vary widely by industry, network, and content type. It’s best to research industry benchmarks beforehand, then track your ads and tailor them accordingly.

Customer service: turnaround time and response rate

We’ve largely focused on the performance of social media posts and accounts, but what about the customer experience with your brand? Also, what about your own performance? Who monitors the social media manager to ensure they are doing their job and that customers are heard in a timely manner?

This is where metrics like response rate and response time come in. They track how quickly your team responds to important messages and how many of them have a response. For multi-user accounts, you should also track how each person is doing.

In Social media management’s Engagement report, you’ll see a variety of metrics that include response rate and response time, then broken down by day of the week. If your social media strategy’s goal is to respond to everything within six hours and the report says that’s not the case, then you’ll know what you need to work on.

Social media management’s Team report shows the metrics listed below but sorted by team members. With these metrics, you’ll be able to see who’s exceeded the time limit to respond and who created the ads that received the most responses.

Conclusion

Of the dozens of social media metrics that can be tracked, we’ve listed the most essential ones that are important for most businesses and most purposes. In short, metrics are important because they tell you if a campaign or strategy is successful over time. You can find metrics in your channel’s native analytics section or through an all-in-one program like Social media management.

The most common and often important metrics to monitor are engagement, impressions and reach, the share of voice, referrals, and response rate and time. These combined metrics will give you a 360º view of your social media performance. Over time and with new goals, you’ll add new metrics that are more nuanced and relevant to your business.

What social media metrics do you consider essential for your strategy? How have you followed them throughout your campaigns? Share your opinion in the comments!

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