There’s no doubt – social media platforms are necessary channels that help grow our brands today!
Consumers nowadays are going digital with their daily lives, and as a business, we have to be where they are. Plus, using social media for our business is free or at least, has lesser cost versus other marketing mediums! Therefore, it’s crucial to have a social media plan included in our overall digital marketing strategy because of their potentially massive contribution to growing our businesses.
But, we don’t use social media uncritically just because they’re free. If we use these platforms more strategically, they’ll be more beneficial.
There are a lot of social media metrics to watch out. While it may help to know all of them, it’s best to focus on those that are valuable and will help you reach your brand’s specific goals for using social media.
We also need to keep in mind and monitor specific social media metrics that will help us analyse the performance of the social media channels we are using. It’s also good to check how these social media metrics are helping and can potentially help us make better business decisions.
The social media metrics you need to keep track of will largely depend on your social media goals – what are you using social media for?
Is it to boost brand awareness? Increase revenue? Drive website traffic? Get consumer feedback and insights? Or build a loyal following for your business? Regardless of the goals you have, here are some of the basic social media metrics you should know, that will help you make the right business decisions.
The total number of interactions a user can make on your post – likes, clicks, saves, shares, and comments. This metric shows how interested users are with your posts as they talk about your brand or share your posts, and will help influence who is going to see your posts affecting your Reach.
Social media’s algorithm targets to create a great user experience – that’s why it keeps track of users who have engaged with your posts to decide who else gets to see your posts. The higher the engagement, the higher probability of exposure your posts have to more users.
This refers to the size of the audience or the number of unique accounts who have seen your posts or social media updates at least once.
Reach and engagement is dependent on each other. To build your engagement, you need reach. To maintain high engagement, you need to keep increasing your reach. So, focus on making high-quality content that will encourage engagement from users and create effective ways to draw new users to see your posts and increase your reach.
This metric measures the number of times your posts and social updates have been seen by users.
Impressions is an excellent way to check the performance of your ads and whether you’re flooding your users with a lot of ads or you are putting out less. This will help you gauge the ad frequency that is effective for your users. If your goal is to build your brand slowly, smaller impressions count might be the way. If your goal is otherwise or if you need to promote as soon as possible, higher impressions count is a better target.
Visits or Page Views
This counts the total number of times users visit your page or view your social media profile, without considering if they have visited your page before or have not. Also, this includes people who are both logged in and who are not. There’s also what we call “Unique Visits” which only counts the visit of each user once.
While this may seem trivial at times, it’s essential to keep an eye on this metric as it will help you see the size of the interested audience that actually looks at your page and check on your content there.
Audience or Followers
Audience or Followers shows you the number of users who are interested to know more about your page and who would like to connect with your business. This will give you an idea on the number of people that you can potentially reach through your posts or updates. This will also show evidence of your brand’s social media popularity and sometimes use it as a “vanity” metric that will tell you that your brand awareness in social media is increasing.
It also pays to check your audience or followers growth rate as this will allow you to compare the growth of the number of audience or followers you have for your page or profile within a specific period.
You can use Clicks to measure directly the website traffic that you’ve gained from your social media channels or to measure the level of interest your users have on your posts or content.
This is one statistic that you can maximise on as when someone “clicks”, you will know that your ads are effective, letting you know that you might have created an awesome headline or copy or made an amazing ad material. Plus, users are now headed to your website when they “click” – possibly checking and reading your website content or subscribing to your mailing list.
It’s also one way to know if your social media traffic converts to leads, subscribers or actual sales.
These are just some of the basic metrics that we should be tracking. Some of these are critical, while some will simply help you know more about your customers – their behaviours and preferences.
There are also specific metrics that each social media channel has (like Retweets or Mentions for Twitter or Website Clicks for LinkedIn). You can take note of these, mainly when you are focusing on using a specific channel for your digital marketing strategy.
If you also want to evaluate your ROI for social media and measure your immediate returns, monitoring your business conversions is the way to go, which includes statistics such as website traffic, generated leads and sign-ups, and revenue growth.
The most important thing to do is to keep an eye on the most useful statistics based on your goals and always analyse what it means or can do for your business.
Social media, if done right, can help you create best practices for your businesses and achieve growth for your brand.