With social media metrics, you have insight into your public image. However, this is sometimes difficult because of the many social media metrics that are available.
With what metrics should you track? Is it even important for your company? Here are the most basic metrics that every company should pay attention to, which depend on your goals. Depending on the social media channel, there might be different names for things or irrelevant measurements. But these are the core measurements that you will want to take note of when calculating KPIs, goal setting, and campaign tracking.
What are social media metrics? It all depends on what your goal is. You need to have a metric for every goal, which will show if you are hitting the mark or not.
Your goal may be to increase conversions, then your social media goal would be to increase customers from your posts. Once you have a goal in mind, you can measure the appropriate metrics. For example, a 25% increase in conversions by social media in three months. To meet this goal, measure total website analytics and the metric ‘social traffic and conversion rate’.
Carefully monitoring your social media marketing is critical to success. Focusing on social strategy, metrics show how well you are performing and demonstrate the reach of your brand. It also provides an opportunity to connect with executives, as well as social media budget increases. Metrics are an important factor in understanding your brand’s health and tracking its performance over time.
The 5 metrics for social media every company should be measuring are:
1. Analyzing the number of followers on a social media account
One thing that many marketers could ignore is the number of social media followers. Though this may not be as important as having many engaged followers, it’s still a crucial metric to monitor and manage.
2. The impressions and reach that social media metrics provide
When your reach and impressions are high, it indicates that the content is viral. Reach provides a more detailed impression of how many people saw the content. It shows how your social media engagement is performing.
3. What is engagement and why is it the most important metric?
To avoid a social media follower decline, you need to focus on engagement. This allows you to see how meaningful your marketing efforts are and what the best times to share content are. Keyhole alerts you when it’s time to optimize your account and can tell you the optimal days and times to post content.
4. The volume and sentiment of social media metrics
With information about the volume and sentiment of online conversations, you can see how your company compares to competitors in terms of online business and customer ratings. You should also monitor keyword presence on online pages mentioning your brand outside of your name in order to stay up-to-date on recent trends.
5. Conversions
If you are on social media, it would be good to track how many people visit your website and purchase your product or service during that visit. If you are running an ad on social media, then you need to also track how many people convert into customers from that ad. You should also monitor other important actions such as signing up for your newsletter and downloading an app.
