Are you wondering which are the top social media KPIs you should track to measure your business success? If yes, then this is the post to read.
You might have already carried out in-depth research, evaluated, and identified the social media accounts to use to access your potential audience. With this, it means you have the right strategy and ready to launch your campaign.
But before launching that campaign, you should take note of the critical parameters to track. So, which are these parameters?
To help you answer this question, we’ll cover the top social media key performance indicators you should track to measure your success easily. Let’s get started!
Impressions refer to how many times the post appears on a person’s social media timeline or feed. Social media impressions do not focus on whether your follower clicked that social media post or not.
The impression stands counted if the individual scrolls through that post on their social media timeline or feed. Besides this, your social media impressions always stand higher than your followers.
The reason behind this is that one user can have several impressions for one piece of content. Expect your impression level to increase if a follower shares your post with their followers or on their timelines.
This reason also explains why you have several Twitter impressions compared to the followers. To track social media impressions easily, compare them with those of the previous days to observe the trend. If you have several social media impressions, then it means you’re heading in the right direction.
Social Media Influencers
Not all brands need social media influencers, but working with one is a pivotal step to take.
Here, a social media influencer refers to an individual with a substantial audience and personal brand. They can use their strong network to keep your potential audience updated about a specific topic or the services/products you offer.
The social media influencers you have and who can promote your business also help in measuring your success. But you should note that a social media influencer cannot partner with any individual.
In most cases, social media influencers represent only trustworthy and high-quality brands, products, or services. Therefore, consider yourself to be on the right side if specific social media influencers promote and spread the word about your brand comfortably.
Don’t get worried if you can’t get social media influencers with many followers. Here, you can consider social media influencers having close-knit followers because some brands show that these influencers can convert more potential audiences easily.
The social media micro-influencers make this possible because they spend much of their time with followers, generating higher conversion rates.
However, this strategy needs you to go for many micro-influencers so that you can get optimal results.
Share of Voice
With social media, it becomes easy to get a buzz around the service/product you offer.
Consider yourself following the right path if you can manage to get a buzz around the brand you offer.
However, to achieve this, you must grow your brand awareness and ensure you recognize more relevant individuals.
Share of voice remains a simple social media KPI that explains how a conversation runs around the brand you offer. Besides this, this social media KPI makes it easy to compare the buzz around the products/services you provide with that of your competitors.
With the share of voice social media KPI, you understand how people view and what they say about your services/products. Besides this, this KPI shows the direction followed by the real conversation relating to your company.
In general, the share of voice KPI is a critical factor to focus on because running the correct conversation contributes more towards creating more awareness.
Consider analyzing your competitors if you can’t manage to locate the buzz encircling your company/product. Through this, you’ll see your competitors’ directions and how to adjust your campaign so that things can run correctly.
To measure your success, you need to know what feeling your potential audience gets from your products/services or what message they give out concerning your products/services.
Sentiment analysis is another critical social media KPI that most business owners overlook. With this analysis, it becomes easy to assess your potential audience’s feelings.
By using sentiment analysis, you can analyze the emotional characteristics related to specific words. This process categorizes these words into three groups. These include neutral sentiment, negative sentiment, and positive sentiment.
Always focus on generating positive sentiments because this is the only way you can achieve your business goals. With satisfied and happy customers, it means you’ll run your business smoothly and with less hassle.
Never ignore negative mentions because it’s from them you can get the goldmine knowledge you need to run your business. Always analyze your customers’ issues and come up with long-term solutions.
Prepare for a social media crisis if you get several negative sentiments. Address all these mentions quickly so that you can prevent the social media crisis and even grow your business from them.
It’s critical to track the people who visit your web page from social media channels if that’s the location you’re directing your folks to. Here, you can use Google Analytics to track the social media platforms that perform better quickly.
If you have created goals in Google Analytics, it will become easy to track it to the call-to-action location or a sale. With Google Analytics, it becomes easy to get visitors that a specific social media platform has broken out.
Website traffic allows you to measure conversions, engagement, and reach. Besides this, website traffic statistics make it easy to tell if the social media strategy you used managed to capture your potential audiences’ attention and directed them to the right landing page.
It’s a critical social media key performance indicator to monitor because it allows you to know how each social media campaign affects your overall site traffic. This KPI makes it easy to monitor the primary marketing funnel elements, such as your landing pages, call-to-actions, and social media content.
For effective results, ensure you fill out your social media pages with details, such as your website address. Here, you can include a prominent and visually striking picture and the primary URL leading to your site.
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Besides this, remember to post similar content on various social media platforms. Here, you maximize social marketing channels, such as Sprout Social or Hootsuite, to post quality content on different social media channels from time to time. Moreover, SEO practices help boost your assets’ visibility and create an effective marketing funnel from these assets to your website.
Ensure you create content that one can easily share. You can turn your little traffic into more by embedding share buttons in your blog post. Through this, you will empower your potential audience to post the content on their various social media channels.
Reach refers to the individuals who checked your content. Reach is a vanity metric for some marketers but never make a mistake to overlook this social media KPI.
However, reach plays a critical role when weighed with other metrics. You can’t get enough information if you concentrate only on your potential audience.
Social media platforms like Instagram, Twitter, and Facebook display audience reach (on each of your posts). However, you can save much of your time by using a brand monitoring tool. With this tool, you can track and hit your reach objectives with less hassle.
But before posting content on any social media channel, it’s vital to note the time when that platform has active users. You must know the time when your followers sit around their phones the most. With this information, it will become easy to put your reach into optimal use. Moreover, you can utilize social media reach by analyzing it against engagement.
Social media engagement rate means the individuals who came across your post, liked it, commented on it, clicked it, shared it, or interacted with it in any other way.
Remember to answer various questions for an effective engagement rate. Here, you should know the current trends relating to the content. You must know if your potential audience likes more videos or pictures.
Check if you have a detailed and effective social media marketing program. Confirm if you have the resources required to implement your social media marketing program.
Creating a compelling social media profile is a crucial step to take, but building consistent engagement rates also contribute to your business success.
To increase the social media engagement rate, focus on creating quality content and not quantity. Also, remember to repost top posts to generate more engagement and reach.
Moreover, you can increase the social media engagement rate by asking for opinions and encouraging conversations.
The generated leads or sales also have an impact on social media success.
You’ll find it hard to grow your company/brand if no new businesses come in.
Understanding your conversion metrics makes it easy to tell your business’s position compared to your competitors.
You cannot achieve this only with comments or likes. It’s critical to observe how the social media efforts you put contribute to your business’s overall success.
Mainly, your followers will check what you offer and purchase your products/services from time to time.
Therefore, you need to track direct sales, indirect sales, and leads to measure your success.
Tracking social media KPIs helps you to understand your campaign’s performance. With these indicators, you can quickly adapt your campaign to match your company objectives.
Therefore, with social media KPIs, you can quickly identify improvement areas and increase the effort you put on various social media platforms.
Rithesh Raghavan is the Director at Acodez, a Digital Agency in India, and the co-founder of Acowebs, an online store for eCommerce plugins. Having a rich experience of 15+ years in Digital Marketing, Rithesh loves to write up his thoughts on the latest trends and developments in the world of IT and software development.