Most businesses today agree that social media is an essential part of any marketing strategy. Facebook, Twitter, LinkedIn, Instagram… you have to be there! But how to measure your presence on social networks once a social media strategy is implemented? Just looking at the number of fans, followers or likes is not enough. You need to track the right social media KPIs…
Your social media KPIs (Key Performance Indicators) should focus on driving new traffic to your site, increasing lead generation, and expanding your brand.
Why are these KPIs so important?
- They reveal your health on social networks;
- They go hand in hand with ROI;
- They influence the rest of your social media strategy and digital marketing strategy.
Although social media is only one part of your marketing mix, with the right KPIs, you can grow your brand and achieve your goals.
Are you ready?
Find some KPIs on social networks to use in your social media strategy.
This is the number of standard engagements received by an account.
Likes indicate that a follower liked your post enough to interact with it. Although some platforms such as Instagram and Facebook now hide the number of likes from public view, you can still see these numbers in statistics.
Posts and profile shares are a great way to measure engagement. A high number of shares is also an indication of how viral a post is. This feature has different names depending on the platform:
- On Facebook, it’s still called Share, but there are several options to choose from.
- On Instagram, use the share icon to DM or Story;
- On Pinterest, we talk about Repin;
- This is a retweet on Twitter.
Like likes, comments are one of those essential interactions to track and promote. They can be put on post as well as live stream. And like shares, comments are a good indicator of an engaging post. Not only are they meaningful as metrics, but you also need to develop a strategy to effectively manage social media comments to engage with your fans through reactions and interactions.
Mention occurs when an account tags your business account or mentions your brand. They can be included in a post, in a comment, or in a story for example. This metric isn’t always tracked natively, so you’ll need to use a tool to track how often and how often your brand is mentioned on social media.
When someone finds out about your business, they visit your website, sign up for your newsletter, and view your profile page. The number of profile visits tells you how many times your page has been viewed in a given period of time.
Your engagement rate reflects the total engagement your account has received, which includes all different types of interactions. This can also include engagement rate per reach, rate per impression, etc.
Post reach is defined as the total number of people who have viewed your post since it went live. factors like Time Significantly determines the reach of your publication. To calculate the reach of your posts, divide the number of post views by the number of followers you have. If you have 100 followers and post views are 15, then your post reach percentage is (15/100) × 100 = 15% post reach.
Post Reach Percentage = Post Views / Total Followers × 100
Tracking impressions is important, as social networks like Facebook may only show about 10% of your posts in some cases. For example, if you have a large number of followers but few impressions, you might consider promoting your posts. To understand whether your messages are reaching or not, it is essential to examine your impressions.
The number of your impressions is usually greater than the number of your followers. A person can have multiple impressions for a single piece of content. If your followers share your post on their profile and their followers see it, then your impression level goes up. This is why you can see on Twitter that your impressions are much more important than the number of followers you have.
Click-Through Rate (CTR)
Click-through rate (CTR) refers to the percentage of clicks an ad receives relative to its impressions. A high click-through rate is a good sign as it indicates that your target audience finds your ad relevant.
If your CTR is high but your conversion rate is low, it may suggest a problem with your landing page: your ad is attractive enough to attract clicks, but users are not taking the desired action on your website. Huh. On the other hand, if your CTR is low, it may indicate that there is a problem with copying or creating an ad, or perhaps a poorly targeted audience.
Awaaz’s Social Media Share (SoV)
This KPI is the advertising activity of a brand on a social network in a product category. It shows your online visibility in comparison to your competitors. It is not readily available in the original analysis. Instead, you have to decide which keywords, hashtags or categories you want to focus on.
For example, if you want to see your voice (SOV) around training-related topics, you should compile a list of hashtags and keywords to investigate related to that topic. Next, you’ll use a tool to collect information about how often your brand is mentioned with those words versus how many times the key words are mentioned overall.
return on advertising spend (ROAS)
If you run ads, return on ad spend is a metric you must track. This will help you gauge the effectiveness of your ads, showing the total amount generated from total advertising spend.
ROAS is an important key performance indicator, especially for e-commerce businesses, as it helps measure the success of your advertising campaign and social media strategy. It also helps in identifying the optimizations that need to be performed. Also, this KPI allows the advertisers to make decisions to choose the right channel in the right way based on analysis and relevant data.
This is the number of conversions (product purchases, website signups, etc.) you get from all link clicks in your content. This helps to show how many people are taking action through your call to action or call to action (CTA).
For example, you can create a social media campaign with gifts, contests, and promotions to measure conversion rates. Paid advertising is one of the best and most accurate ways to estimate this KPI.
It’s your turn !
Choosing the right KPIs for social media is not an easy task. You need to match them to your brand and your social media strategy, considering several factors. But I hope you are now able to better understand the role and functioning of various KPIs on social networks.
Above all, don’t hesitate to train yourself to optimize your social media strategy. This webmarketing training with social media strategy component provides a thorough theoretical aspect as well as practical cases to fully master the subject.