Are you tracking social media metrics? If not, you should be.
We know what it takes to craft the perfect posts for your business. And we know the struggle in each attempt. You pour over every pixel until your images are irresistible. You massage every sentence to evoke an authentic brand voice. You set up a quasi-social media calendar to unleash content consistently.
Afterward, you press that “Post” button. So, what happens? Are you counting impressions? Are clicks leading to conversions (sales, purchases, memberships, or subscriptions)? To effectively market your brand, how you track your posts matters as much as the posts themselves.
That’s where social media metrics can make or break your bottom line. And, let’s face it, ranking at the bottom of anything isn’t fun. With our friend, Google, the same adage applies.
What Are Social Media Metrics?
These measurements gauge the impact of your online activity. Social media platforms automatically collect data about your posts—such as views, reactions, comments, and clicks.
Use social media metrics as:
- A thermometer to assess what your audience does (and doesn’t) like about your posts
- A crystal ball to predict the success of future posts based on what’s previously worked
- A spotlight to illuminate where (and why) your social media marketing is critical to your longevity
Depending on who you ask, there are between 20 and 60 possible metrics to track. Regarding your marketing funnel, we recommend leveraging at least six easy touchpoints. You can calculate the data via a back-end dashboard like Facebook Insights, Instagram Insights, or LinkedIn Page Analytics. We note below where Google Analytics comes in handy, too.
- Reach Rate = How Many People See What You Post
Not all followers will see your social media content (gasp!). However, well-performing posts are shown to more people; the reach rate directly correlates to your posts’ reception. For instance, posts with hashtags and images tend to boast a higher reach. This is because hashtags make them more discoverable, and pictures make content more eye-catching.
If your content is “discovered” by non-followers (a.k.a. new and untapped audiences), your subject matter is gaining popularity and authority. What does this mean? Reach, as a data point, helps legitimize future planning. You can double or triple followership based on these nuances, from numeric spikes to repeated patterns.
- Engagement Rate = How Much People Interact With Your Post
The engagement rate targets those who react to, comment on, and/or share your posts. Engagement tallies the total number of such interactions divided by your number of followers or post views. Expect tiny fractions here: average engagement on Facebook is 0.07 percent, and 0.54 percent on Instagram business accounts.
Put simply, engagement rate is a more fine-tuned look at your audience’s reactions. What content is emotionally resonating? Where are folks pausing mid-scroll? And what promotions are being passed up altogether? Crawl inside the mind of the masses, and you’ll understand your value proposition—the sweet spot where profits are plenty.
- Click-Through Rate = How Many People Click On Your Post
A low click-through rate could mean your targeting the wrong audience or it’s not engaging enough for readers to tap a link, read an article, or land on a sales page. Instead, like a fish, they didn’t take the bait and proceeded to swim (er, scroll) on by.
Similar to engagement, CTR is calculated as a fraction. Divide the total number of times people clicked a link to access more info (blog posts, web pages, online store) by the total number of followers or post views you’ve received. These mile markers tell you where conversions are weak. The key is experimentation—change up your content, check out your competitors, conduct a poll, or take another look at your customer personas The answers will come.
- Web Traffic = What Platforms Drive People to Your Site
When people browse your website, they’re one step closer to becoming customers. Knowing how they surfaced on the home page, or downloaded your offer, is key. Did they visit via a Facebook Ad? Did they click over from your LinkedIn business page?
At One Part Social, we call this process heat mapping, and it works like a charm. But, of course, when you know what social platforms (and content) drive the most web traffic, you’ll prioritize these. And you’ll figure out how to boost engagement on underperforming channels.
An easy way to track the origins of your web traffic is through Google Analytics. This tutorial will put you in the driver’s seat. Now, rev up those search engines!
- Lead Generation = Who Expresses Interest
Leads are those who express interest in a product or service. Lead generation is the act of cultivating these potential customers into paying ones. If your average reach, engagement, and CTR are strong, folks will likely buy from you.
Knowing your average acquisition helps to quantify and justify the efficacy of your social media marketing and lets you know where to make adjustments in the metrics above. Leads equate to liquidity in the digital world, so never gloss over this goldmine. The middle to bottom of the sales funnel reflects your merit and monetary standing.
- Conversion Rate = Who Becomes a Customer
Conversion rate addresses the narrowest part of the marketing funnel. Virtually, it’s how many people become customers as a direct result of social media campaigning. “Conversion” could look like purchasing a product or service—or even something smaller—like subscribing to a newsletter.
This metric, too, is evidence that your social marketing strategy works. Or it’s further validation to step up your game in reaching, engaging, and driving people to action. Again, Google Analytics is your catchall!
There you have it—six social media metrics that are easy to access and tabulate. Talk about huge dividends and a boon for your bankroll! Ready to do the math? If not, hire the crew in blue (that’s us!) to do it for you.
We have over a decade of experience in surfing digital algorithms. Reach out today for a 30-minute “social call” and start making waves in your industry.