There’s no need for us to go into detail about the importance of social media in today’s corporate world. Global social media usage is increasing, with approximately 50% of the world’s population using Instagram and Facebook. If you’re reading this article about social media KPIs, you already know how important it is to be active on social media.
However, in order to properly comprehend the business value and demonstrate the outcomes to your team, you must actively measure key KPIs that illustrate the true value.
When it comes to campaigns launched on social media networks, social media KPIs (key performance indicators) are what your company measures. It clarifies what data you’re looking at and what indicators you’re collecting. This indicates how your social media efforts are helping you achieve your business objectives.
Your social media strategy should never be dictated by inspiration. Your social media KPIs are the only ones who can do that job.
Benefits of tracking social media marketing KPIs
Social media KPIs, at their core, indicate the return on investment (ROI) to your clients. They are definitely much more than just tracking the number of your average likes and followers. In a nutshell, you become a better marketer by regularly monitoring your social media activities. You can even both in the short and long term:
- Identify the best-performing techniques that lead to a high conversion rate.
- When it comes to purchasing new social media management software, demonstrate the importance of digital marketing. The expenditure will be justified thanks to your battle-tested results.
- Meet your business objectives, and you’ll be one step closer to generating an incredible bottom line.
Important social media KPIs
The KPIs listed below are organised by category. You’ll need a business account on each site to access the majority of these stats. The analytics section will provide you with the information you require.
Social Media KPIs for Engagement
The energy at the heart of every department in an organisation is driving true brand engagement. KPIs for engagement rate indicates how well your material is received by your target audience. The more people engage with your posts or page, the more likely you are to win their confidence, loyalty, and sales in the future.
Likes: When someone likes your post, it’s a good sign that the content appeals to them. As you receive more “likes” on your postings, more people will be drawn to them, and the content will appear higher in people’s personal feeds.
Comments and Replies: Comments are a better measure of quality than “likes,” because typing something out ends up taking more effort. Start conversations and reply to comments to get your content noticed and develop relationships with your audience.
Mentions: As a marketer, one of the most rewarding experiences is hearing your brand and content mentioned positively by audiences and customers. Online word-of-mouth marketing is huge, and this demonstrates you’re establishing some brand awareness.
Reshares: While Twitter feeds move quickly, LinkedIn users are more deliberate in their resharing of content to their networks. Getting reshares on your material can indicate that it is fascinating and instructive enough for people to want to share it.
Profile visits: When someone is learning about your firm for the first time, they will go to your website, sign up for your email marketing tools, and look at your profile page. This is a nice reminder to maintain your profile up to date with your most essential link destinations.
Clicks: Keeping track of this will provide you insight into how your audience responds to your content. The more high-quality traffic your social media posts generate, the more potential conversions and revenues you can generate.
Social Media KPIs for Reach
Reach KPIs show you how your brand influences your target audience. Including how many people viewed your social media post in their newsfeed.
Follower count: The most straightforward measure to examine is your total social follower count across all of your channels.
Impressions: It is the number of times your posts have shown in someone’s newsfeed or timeline.
Web traffic from social media: Website traffic is how you turn social followers and people who see your content into leads and customers. If your website traffic is low, it’s likely that your content or call to action isn’t engaging enough.
Share of voice: Share of Voice is a metric that measures how much attention your brand receives in comparison to your competitors’ brands. Monitoring brand conversations, seeing more mentions of your organisation, and industry experts referencing your products or services more frequently can all help.
Post reach: It is a more specialised statistic than the overall category of reach KPIs. It represents the number of unique accounts that saw your post on social media. Divide the number of impressions by the number of followers to get a fair estimate of your reach. This feature is also readily available on a number of platforms.
Social Media KPIs for Conversions
Converting interactions into clients is the next step in the marketing funnel. In social media, vanity metrics such as the number of likes and comments have a role. The most important KPIs from social media is how they affect conversions.
Conversion Rate: The number of users who have converted (e.g., purchased a product) vs the number of clicks on a specific post. The percentage of users who converted to leads, or Lead Conversion Rate, is a related KPI. This aids in figuring out whether you’re getting leads that meet your target demographics and if you need to adjust your social material.
Revenue from sales: When you sell products and promote them through your social media presence, you want to know if your efforts are paying off. Examine your Google Analytics or website builder to determine your sales revenue.
CTR (Click-Through-Rate): The percentage of users who click on the call-to-action (CTA) button in your content.
Social media is the future of customer service and business growth. As a result, tracking social media KPIs is a critical component of any social media marketing strategy. Not all metrics, however, are supposed to be equal. Some social KPIs are more valuable than others or are more significant to your business in particular. Tracking all of the aforementioned indicators at once is a time-consuming task, thus concentrate on the KPIs that are most important to ALL companies.
You may have more things to consider, and some of the KPIs listed above may not be appealing to you, but you should always verify that your social media presence positively influences your business goals.
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