Social Media Metrics or Social Media KPI’s are basically the key aspects that are most important for the growth of your business. These metrics can be considered as the goals and the guidelines that determine how well the campaigns and the strategies are performing. There are dozen number of KPI’s, among all these here is a list of few of them on which one should focus to ensure the proper branding of your business on the social platforms.
Engagement is the most important aspect of measuring performance on a social media platform. It acts as a catalyst for improvement out of the other social media KPI’s. Engagement measures the number of likes, shares, and comments that your social updates receive. Having a large number of reach with low engagement is a bad sign as it shows that the marketing message or the content does not resonate well with the audience. As long as the audience is engaged, no matter how small that audience is, it will grow organically and increase the leads.
This is the metric that focuses on the audience and potential audience size and the growth rate. It indicates how far your message has traveled. Reach can be measured by the total number of people that follow your brand on social media indicating your reach without engagement. When people engage with your content, their activity is usually shared with their connections, which increases your page’s reach. Using more engaging content into your social strategy will significantly improve the reach of both your posts and the business.
Once your business starts getting recognition on social media platforms it is easy to get caught up on how many likes and comments you get, but an important question to take into consideration among all this is: How many of these engaged people are ready to make a purchase from the company? If your business is not generating enough leads then it is an indication that either you are on a wrong platform or the content is not engaging enough to catch the attention of the buyer. The sooner you tackle this problem, the better. Valuable insights can be obtained by looking into the demographics of the people who are seeing and responding to your content.
The influence here accounts the brand mentions and how your brand has helped others. Based on the past action one can assume how influential someone might be in the future. This type of influence is essential to decide whom to reach when you are designing a campaign.
#5 Customers/ Conversions:
This is the ultimate measurement of your success for the social media platform. Once you have identified the right audience and have managed to keep the audience engaged through your posts and finally transformed the role of this audience from mere followers to buyers, the goal of your social media marketing has been achieved. Some people might feel tracking acquisition and customer conversion rates from social media isn’t necessary, but how else would you measure the ROI of social media? Thus customers are also as useful a measure to track as the others.
Finally, we can say that the goal of measuring the social media KPI’s isn’t to justify your marketing strategy but to improve it.