What are social media KPIs?

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:

  1. Identify the best-performing techniques that lead to a high conversion rate.
  2. 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.
  3. 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

5 Ways to Boost Organic Social Media EngagementThe 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

New Ways to Gain Social Media Reach, Interactions & FollowersReach 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

9 Ways to Boost Your Social Media Conversion Rate | Sprout SocialConverting 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.

Conclusion

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.

Contact us at Shaktiki today to book a free consultation call.

How to measure your Key Performance Indicators?

How would you know if your marketing efforts are effective or not if you aren’t tracking them? That’s when KPIs, or Key Performance Indicators, come in handy! KPIs allow you to track the indicators that are most important to your company so that you may continue to grow.

A key performance indicator (KPI) is a metric or a quantitative measure that you may use to assess the performance of your company. Digital marketing KPIs are measures that are directly linked to your digital marketing plan. Whether it’s brand awareness, lead generation, sales growth, or SEO. They contain data like your online sales revenue, website traffic, SERP, conversion rates, page conversion, marketing qualified leads (MQL), engagement rate, total revenue. Basically, anything quantifiable and actionable is a part of your digital marketing plans.

Your Key Performance Indicators can originate from social media platforms like Linkedin, Facebook, and Instagram, as well as pay-per-click (PPC) solutions like Google Ads or Bing Ads. Any lead conversion tool, marketing activity, or your sales personnel are all possibilities.

Why Do You Need to Track Your Key Performance Indicators?

KPIs and Metrics: How to Measure Digital Marketing Success | SEO

To have a clear view of what’s working and what isn’t, you’ll need to track your KPIs. You’ll never know where to invest if you make a profit at the end of the day but have no understanding of where it came from. Or what component of your marketing plan was responsible. For example, a single source of website traffic may be responsible for nearly all of your qualifying leads and sales. While you might be wasting money on marketing channels that aren’t generating any.

 

Thanks to multiple systems such as Google Analytics and Google Ads, almost anything can now be tracked. It’s simple to observe where your consumers come from, your cost per lead, how much it costs to acquire a customer, which digital marketing strategies worked best, and so on. With this knowledge, you may eliminate the components of your plan that aren’t profitable and concentrate on improving the ones that are.

What KPIs should you track?

It’s not a “one-size-fits-all” decision when it comes to digital marketing KPIs. The greatest KPIs to track for one organisation aren’t always the same for another.

To determine the ideal KPIs for your company, start with your objectives and move backwards. There’s no need to track email marketing KPIs if your lead follow-up is solely done over the phone or in person.

It is of utmost importance that your KPIs meet basic criteria, commonly abbreviated as SMART, of being-

  • Specific
  • Measurable
  • Acceptable
  • Realistic
  • Time-bound

How to Create Smart Goals and KPIs | By All KPIs | All KPIs

To put it another way, the KPI must deliver a particular result that digital marketers can assess. One that can be identified when achieved. One that is related to your goals and that can be assigned a date or timeframe.

Some of the important Digital Marketing KPIs

The exact combination of Key Performance Indicators you track depends depend on your organisation and the channels you’re targeting with your digital marketing campaigns. Most businesses will also benefit from having some broad marketing measurements and KPIs. Some of general marketing KPIs include –

Rate of Conversion

What percentage of visitors convert to leads and leads to customers is known as the conversion rate. If you want to measure each channel independently, this is a generic marketing KPI that can also apply to any of the other categories. You might also keep track of how many leads or conversions you’ve received.

Cost per lead

Everything your team does to generate new leads is an investment. Advertising, web design, and social media management all consume a significant portion of your company’s money. To understand how much it costs to attract a potential consumer, add the cost per lead KPI to your dashboard.

A lower cost per lead could indicate a better customer experience or greater brand awareness. The contrary result shows that you should review your marketing plan and concentrate on channels that are more profitable.

The cost-per-lead is also an important sales KPI because it lets you measure the performance of your sales force.

Customer Lifetime Value (CLV)

A customer’s lifetime value is the amount of money an average consumer earns over time. Depending on your average retention rate and back-end product or service offerings, this could take days, weeks, months, or years.

Customer Acquisition Cost

The acquisition cost is the amount of money required to acquire a consumer. Advertising, sales calls or visits, and anything else that goes into your prospecting and conversion process are all examples of this.

Return on Investment (ROI)

The ROI is a result of the last two KPIs. When you compare your client acquisition cost to revenue earned, it informs you how much profit you make.

Retention Rate

This marketing KPI depicts the number of customers that use your product for an extended period of time and purchase it again. You can see how engaged your consumers are by keeping track of their retention rate.

Here’s a basic formula to remember: ((CE-CN)/CS) x 100 = Retention Rate

CE stands for the total number of customers at the end of a term
CN stands for the number of new customers acquired over a given time period
CS stands for the number of customers at the beginning of a term

What KPIs to not track?

The ease with which digital marketing KPIs such as website traffic, e-commerce analytics, churn, and organic search can be tracked can be a double-edged sword. It makes it simple to measure key metrics, but it also makes it simple to track things that aren’t important, wasting time and attention.

Consider whether the data will provide you with any relevant insights on ways to improve your bottom line when determining which KPIs to track. It’s probably a vanity measure if the metric isn’t something you can act on or influence, hence it’s not worth tracking.

For example, you might be tempted to track vanity metrics like Facebook likes or Twitter followers, but why measure them if you’re not currently running a social media campaign to increase likes or followers? It’s not a useful metric.

Conclusion

Tracking KPIs is extremely important. This is beneficial if you already have particular objectives in mind, but it might be extremely daunting if you don’t know which data sets to examine. Therefore, it is critical is to choose your marketing KPIs properly. You can determine the success of your plans and continue to improve by focusing on only the most important indicators in terms of your business.

Contact us at Shaktiki today to book a free consultation call.

How can Google Ads revolutionise your marketing strategy?

Looking to invest in online ads? The right and the best place to do would be Google Ads. Google has over 259 million unique visitors and 4.8 billion daily interactions. Now, imagine optimising your advertising game on Google Ads. Tempting, right? Google Ads is fairly easy to navigate to drive home huge sales goals once mastered. It offers a great return on your investment as well.

The reputation of online advertising especially Pay Per Click Advertising precedes itself. Google Ads is a paid ad platform that falls within the Pay Per Click marketing channel, in which the advertiser pays per click or per impression on an ad. With Google Ads, you can improve the number of visitors to your website, phone calls, and in-store visits.

Google is the most popular search engine, with over 5 billion daily searches. Not to mention that the Google Ads platform has been operational for nearly two decades, giving them a leg up on the competition in the paid advertising space.

Google Ads allows you to develop and share well-timed ads with your target audience, both on mobiles and desktops. This means your company will appear on the search engine results page (SERP) when your ideal customers use Google Search or Google Maps to browse for items and services similar to yours.

Benefits of Google Ads

  1. Ads posted on the platform tour across other sister channels including YouTube, Blogger, and Google Display Network.
  2. As time proceeds, the platform will assist you in analysing and improving your ads in order to reach more people.
  3. You can also customise your ads to fit your budget and utilise the Google Ads tool to stay under your monthly budget.
  4. You can even halt or terminate your ad expenditure at any moment.
  5. Statistically speaking, the click-through rate for Google Ads is over 8%. Customers who watch an ad on YouTube are 45% more likely to buy it.
  6. According to Google, advertisers make 8 times their investment in Google Ads.

How does Google Ads work?

Cómo crear campañas óptimas en Google Ads? | ContenttuYour ad is shown to potential leads or customers who are interested in your product or service through Google Ads. This is achieved via matching keywords between the ones looked up by the user and the ones bid on by you. Advertisers make bids on search phrases or keywords, and the winning bids appear at the top of search results pages, on YouTube videos, or on relevant websites, depending on the sort of ad campaign chosen.

Sounds easy? It is, but you need to look out for certain factors to make the process pan out smoothly for you. The factors listed below have a significant impact on your ability to generate successful and high-performing Google Ads.

1. AdRank and Quality Score

AdRank defines where your advertising appears, and Quality Score is one of two elements that decide your AdRank and the other being bid amount. Although, even before you increase your bid price, you should concentrate most of your attention on your QS when you first start up your Google Ad campaign. Your acquisition expenses will be lower and your placement will be better if your QS is greater.

Remember that your Quality Score is determined by the quality and relevancy of your ad, which Google determines by the number of people that click on your ad when it is displayed — your click-through rate (CTR). Your CTR is determined by how well your ad fits searcher intent, which may be determined in three ways:

  • The utility of your keywords
  • If your ad copy and CTA deliver exactly what the searcher is looking for, you’ve succeeded
  • Your landing page’s user experience

2. Keywords

Good keyword research for paid ads is just as vital as it is for organic search. Your keywords should as closely as possible match the objective of the searcher. This is because Google will match your ad to search queries depending on the keywords you choose.

Each ad group you establish in your campaign will focus on a small number of keywords – one to five is ideal.

Negative keywords are a list of terms for which you don’t want to rank. You will be warned against bidding on these keywords by Google.

3. Location

When you first create a Google Ad, you’ll have to choose a geographic area in which your ad will appear. If you have a physical location, this should be within a fair radius of it. Your location should be set in the regions where you ship if you have an e-commerce business. The sky is the limit if you provide a service or products that are available internationally.

Types of Google Ads Campaigns

Google offers five kinds of ads, mentioned as follows-

  1. On a Google results page, search ads are text ads that appear among the search results.
  2. The Google Display Network’s display ads are primarily image-based and appear on websites.
  3.  YouTube video ads last between six and fifteen seconds.
  4. Shopping ad campaigns include extensive product information such as price and image. You can build a Shopping campaign using Google Merchant Center.Google rolls out Shopping Ads in Singapore | Digital | Campaign Asia
  5. Google app ad campaigns advertise your mobile app on Google Search Network, Google Play, Google Display Network etc. You don’t design an App ad campaign as you do with the aforementioned kinds of ads. Instead, supply Google with information about your app and its target demographic, and put a bid.

Amy X. Zhang - UW CSE

Best Practices

Your Google Ads could be underperforming for a variety of reasons. Let’s take a look at some of the most prevalent best practices to adhere to.

  1. Improving your Quality Score
  2. Optimising your ad landing page as your user should have a smooth transition from the landing page to the conversion
  3. Avoid running redundant ads by maintaining a comprehensive schedule and tracking insights using the tracking tools offered by Google
  4. Avoiding negative and broad keywords
  5. Tailoring your bidding strategies to echo your budget and expected goals

Wrapping Up

The Google Ads network caters to businesses of all sizes, with varying budgets and advertising objectives. Different target audiences, the majority of whom have used Google to solve an issue at least once in their lives. So why wouldn’t you throw a bucket into a sea of seemingly unending searches approximating 2+ trillion each year to see how much money you could generate?

Contact us at Shaktiki today to book a free consultation call.

Why is SEO essential for every modern business?

The new commercial space with attractive opportunities is undoubtedly the digital sphere. How?

What is your response when you face a challenge, want to make a choice, or want to learn something?

You google it. Everyone does. This doesn’t mean that one should have an online presence to get noticed. It rather means that one should have an online presence to exist in the modern world. This specifically applies to businesses. Hence, every business must build an online presence which can be done through a strategy called Search Engine Optimization (SEO).

What is SEO?

SEO refers to search engine optimization. In simple words, it is the process of taking steps to help content or a website rank higher on Google. However, it is important to note that SEO varies from SEM or paid advertising.

The key difference between the two is that SEO improves organic ranking which means one doesn’t have to pay to be in the space. This process of search engine optimization can be simplified as the process that takes some online content. Then it optimizes it so that search engines like Google can show it on the top when someone searches for something related to it.

Why is SEO important for every modern business?

The way businesses are done has changed significantly. With the growing importance of digital means to operate and expand businesses, SEO has become a staple. The marketing tactic has proved effective and is thus considered essential.

Some of the key reasons you should include it in your marketing strategy are listed below:

Improving Visibility and Rankings

The major function of SEO is improving the visibility of your content or website. This can be simply explained as a way of making it easier for people to search for something you can offer to them. Hence, visibility is completed linked to ranking.

The concept of ‘ranking’ is extremely important for everyone on the web. This is because the higher you rank on a SERP or search engine result page, the more visitors will check your site. Considering that a significant amount of users don’t click beyond the first SERP, it’s important to get a higher ranking and obtain better visibility. This can be achieved through sincere efforts to improve your SEO.

Web Traffic

Another important aim of SEO is to increase web traffic. This is automatically achieved when one increases visibility and ranking.

Recall how you used Google the last time. Which pages did you check?

There’s a great chance that you checked the first search results or maximum the top five. This is true for almost everyone searching for anything on the net. Keeping this behaviour in mind, the way to increase your website traffic is to employ SEO practices that will rank you among top positions.

Ensures a good visitor experience

One more reason that makes SEO essential in modern times is how firstly it demands efforts to create great content. Secondly, optimizing your website with SEO enhances the functionality of the site. Consequently, it ensures a positive experience and establishes you as a customer-friendly brand.

For instance, increasing your page load speed will decrease your bounce rate. This will encourage visitors to access your website freely and for a longer time. It is believed that almost 50% of customers expect a page to load in two seconds. The longer time it takes to load, the higher will be the bounce rate and the lower will be your conversions.

Another example can be when you work to make your site responsive. This will make it friendly for mobile users as well as people who access it from a desktop or a laptop.

Moreover, SEO practices help in creating an excellent visitor experience that will leave a great impression on your customers.

Authority

The idea of authority is becoming critical to search engines. This is because of the increasing importance given to authority by web users. The term ‘authority’ simply means that a website is trustworthy, accurate, relevant, and of high quality.

This implies a website enjoying higher authority will be ranked higher. Consequently, more people will trust your brand and your business.

Brings discipline

A marketing technique like SEO demands systematic and consistent efforts to improve visibility, ranking, and achieve other goals. However, this also builds a discipline that helps you position your brand better throughout the buying journey.

Additionally, it can ensure that your marketing strategies align with the new and emerging buying behaviour.

Fostering growth

To conclude, the broad reason to include SEO in your marketing strategy is that it can help you achieve multiple business goals. The benefits span from major goals like improving the customer visitor experience and building meaningful relationships with your audience. Additionally, it can bring more people to your site, increase your authority, put you ahead of your competitors.

All these benefits mean more sales, a loyal customer base which eventually leads to the growth of your business.

Important SEO Tips

  1. It is important that you define your SEO goals in the beginning. After this, you should get software in order to track what’s working and what’s not. Web Analytics like Google Search Console, Google Analytics; etc can help you track this.
  2. Link to other websites that offer relevant content and tremendous value. This can help you to build more trust in your niche.
  3. Page speed is an integral part of SEO. Slow pages are irritating. They also discourage people from buying your products or services. So, the good option here is to remove anything that slows down your website.
  4. Meta Description is that one SEO element that is often ignored. However, it’s important to write unique and relevant meta descriptions to attract more people.

Summing Up

Search Engine Optimization is a complex marketing technique with multiple components. So even if you find this marketing essential difficult to understand, it doesn’t mean you can’t employ this for your business. We at Shaktiki have experts that can help you foster growth through SEO and other marketing practices.

To build your successful business, contact Shaktiki today.