Statistics, and metrics! You can’t avoid these. Do you know that when it comes to monitoring your social media metrics, there are millions that you could be examining to get to your KPIs? KPIs are obviously the principles used by marketing and social media departments to measure the effectiveness of your social media campaigns. (Perhaps not millions of people, but they have quite a few from which to choose.) The real question, though, is, if you know where to find these numbers and will the estimates provide the company real value (a.k.a. ROI)?
Undoubtedly the best way to ensure you get the best outcomes from your ads is by measuring the right social networking indicators— like supporter count and comments, from outside the “vanity metrics.” Practically speaking, you can test a range of different social media indicators but only those that relate to the following issues need to be addressed:
- Do you have the right audience?
- Is your content reaching to the right people?
- How many of your followers are inquiring about the service?
- How many buyers got convert to customers?
That said, in this blog, let’s cover four key social media metrics that will prove ROI.
1. Social Media Engagement
I like to call social networking a long-term relationship— a kind of marriage. Let’s talk about it; the relationship takes time and dedication, and the ability to think about the near future to make sure everyone is satisfied. According to the Webpedia report, “engagement” is the level of involvement, interaction, intimacy, and influence that an individual has over time with a brand.” Simply put, social media engagement measures the number of likes, shares, and comments that your social updates collect.
I think the engagement should be the #1 focus for a number of reasons as a social media marketer. This shows early indicators of development and progress that can be measured and applied to your strategy. If, for instance, your Twitter handle has a wide reach with little commitment, that usually is negative, as it shows that your contents didn’t match your audience well. It means nothing to reach millions if they are not involved in what you deliver. So now is the time for action!
Here are a couple of things you ought to follow:
Clicks.-Clicks. You have posted a blog on your website and now you would like to see how many times viewers have clicked on that link. Connection clicks reflect the consistency of your content— whether it’s your title or picture. Your fans will only click the links they want. Simple and straightforward.
Likes. The more your posts like to be produced, the greater the likelihood that your branding reaches a wider audience. And that’s a great sign! Fans are usually drawn to material that they find interesting or eye-catching.
Shares. And Retweets anyway. It’s always nice to know your supporters share your work. It shows they appreciated your content! Shares, in short, are a reliable measure of the quality that you have put into your content.
Brand Mentions. Since your social handling is listed or branded, it indicates that people are thinking about your brand. This really is a major social media metric as it shows that your brand is driven awareness between many of your audience and generating conversations. (P.S. It is always a good idea to double-check if the comments are positive or negative).
2. Market Reach
How far does your content heading in terms of viewership? This is a question that must be posed by all social media marketers, and’ Reach’ is a crucial criterion to be taken. Reach reveals a variety of things— with how far the posts go to the number of eyes who read them.
Take note too that your target audience and the extent of your transformations are determined by their distance. It can be quite misleading because it doesn’t tell you all. Only figure out how many people your post came across, for example. Thus, the reach is used more as an estimate, unlike the commitment that provides true statistics. But nevertheless, the main metric to obey!
3. The Leads
For social media marketers, identifying how your content generates sales is an important challenge. You might easily get stuck raving how much you like and retweet your content, but at the end of the day, it’s creating new revenues that count the most. So question yourself, how many mutual sponsors do your company buy from? That’s not often mentioned, but social media is perhaps one of the best sales resources to connect leads/perspectives, increase sales and close a deal. Every salesman recognizes that developing a partnership and thinking about your customers is an important stage in the sales process.
Customer conversions are vital to marketer success and without calculating the number of acquired consumers, no plan would be complete. Will there be a greater feeling than asking your clients to take appropriate action based on the quality content you’ve generated on social media?
Use UTM parameters in the connection you are promoting is the best way to track how many leads you convert from social media. By doing so, you will coordinate and see which of your social posts can lead to the highest conversion rates of leads. Just in case you’re not acquainted with UTM definitions, they’re also unique tags that are attached to a URL, and when the connection is clicked, the tags are transmitted back to your metrics platform (e.g. Google Analytics) and eventually followed up.
Well-comprehend the audience. Concentrate on providing content that will draw them and hold them involved. This might possibly be the best guidance you can (maybe) get on social media. But once you get your market involved with your brand, you can start to find out who’s willing to buy your product or service for the most value. Also, keep in mind which social media platforms produce the best gross margins. That will prove you were to focus more time and where to get your best leads from.
Note, the purpose of tracking your KPIs on social media is not only to verify the marketing strategy of your company but to strengthen it. Analyzing the core marketing indicators in social media is important for any company. The aim though is to figure out which metrics are most applicable to the platforms on which your brand is involved. Process your reports on analytics, make changes and enjoy the thrill! Measuring your indicators is a beautiful thing to do and will make sure you step in the right path.
What other main content metrics do you calculate for social media? What ones do you think are most useful? I’d love to hear what you think!