Scrolling through endless social media feeds is fun, but for businesses, it’s about more than checking the likes and comments of their social media account. Sure, those can be a confidence booster.
But if you’re using social media to reach new customers or promote your brand, you need to know if your strategy is actually working. That’s where you need to utilize social media KPIs (key performance indicators).
These are the social media metrics that tell you what’s resonating with your audience and what’s falling flat. By tracking the right KPIs, you can tweak your approach, create content that gets people engaged, and ultimately achieve your social media goals.
So, ditch the guesswork and read on to the essential social media marketing KPIs you should be tracking!
Engagement Rate
Engagement is the lifeblood and currency of any successful social media advertising. It measures how well your content resonates with your audience and encourages them to interact with it. Here’s how to calculate engagement metrics:
Engagement Rate = (Likes + Comments + Shares) / Reach x 100
Why it matters:
A high content engagement rate indicates that your content is interesting and relevant to your target audience. It shows they’re stopping to read, watch, or listen, and they’re feeling compelled to react in some way.
Social media algorithms prioritize content that sparks conversations and interactions, so a high engagement rate can also help you improve your organic reach.
Here are some engagement strategies to boost your engagement rate:
Post consistently
People need to see your content regularly to stay engaged. Aim for a consistent posting schedule that aligns with your audience’s habits. You can use a content calendar and experiment with different times and days to see what gets the most engagement levels or becomes viral content.
Run contests and giveaways
Who doesn’t love a good giveaway? Contests are a fantastic way to generate excitement and positive impressions and attract new followers. Just be sure that your contests are relevant to your target audience and comply with the social media platform’s rules.
Respond to comments and messages
Show your audience you care by replying to their comments and messages. This fosters a sense of community and increases your post-engagement rate.
Overall, engagement rate is all about having real conversations and making genuine connections with your audience. So don’t just chase those likes and shares for vanity’s sake. Focus on creating content that sparks discussion, promotes positive impressions, and keeps your followers coming back for more.
Reach
Reach refers to the number of unique people who see your content. It’s a good indicator of how far your content is spreading and how many people you’re potentially reaching with your social posts.
Why it matters:
Increased reach means more exposure, higher web traffic, or better online presence for your brand or message.
Organic reach, however, can be tough to come by these days. So, if you’re looking to significantly expand your reach and enhance your online presence, you might need to consider paid social media advertising.
Here are some tips to increase your reach:
Use relevant hashtags
Hashtags help people discover your content. Research popular hashtags in your niche and incorporate them into your posts strategically, but just please don’t overdo it.
Run social media ads
Paid advertising can be a powerful tool for expanding your reach and targeting specific demographics. With social media ads, a team of professional social media marketers, and a dedicated social media manager, you can target your ideal audience based on factors like interests, demographics, and behavior.
Collaborate with influencers
Partnering with influencers (influencer marketing) in your industry can tap into their established audience and give your social media accounts a wider reach. So, look for influencers who align with your brand and target audience.
Reach is all about getting your message out there and in front of as many eyeballs as possible. Thus, you’ve got to be strategic about it. After all, what’s the point of creating killer content if no one’s actually seeing it?
Website Click-Through Rate (CTR)
CTR, or click-through rate, measures the percentage of people who see your social media post and click on a link directing them to your website or landing page.
Why it matters:
A high CTR indicates that your social media efforts are effectively driving traffic to your website. This is crucial if you’re using social media to generate leads or sales. Let’s say you’re running a social media campaign to promote a new product on your website.
You want people to see your social media posts and click on the link to learn more about the product. A high CTR would mean that your social media content is successful in driving website traffic.
Here are some tips to improve your CTR:
Craft compelling calls to action (CTAs)
Tell people what you want them to do after seeing your post. Don’t just say “click here” or “learn more.” Use strong verbs and clear language that entices people to click. For example, you could say “Shop our new collection now” or “Download your free guide today.”
Include high-quality visuals
Eye-catching images and videos can grab attention and entice people to click through to learn more.
Ensure your landing page is relevant
When someone clicks on your link, they should land on a page that’s relevant to the social media post. Don’t bait-and-switch your audience! Make sure your landing page is well-designed and easy to navigate, and that it clearly communicates the value proposition of your offer.
Follower Growth
Follower growth or audience growth is a vanity metric that measures the number of new followers you gain over time. While it’s not the most important metric to focus on solely, it can still be a good indicator of brand awareness, response rate, and social media engagement.
Why it matters:
A steady increase in followers suggests that people are interested in your content and want to stay up-to-date with your social channels or social media platforms. This can be encouraging, but it’s important to remember that not all followers are created equal.
Ideally, it’s better to have a smaller, engaged audience than a large audience of inactive followers. Engaged followers are more likely to see your content, like and comment on your posts, increase your video views, boost your follower count, and ultimately convert into customers.
Most social media platforms provide built-in analytics that allow you to track your follower growth over time. You can also use social media management tools that offer more detailed and valuable insights, such as follower demographics and interests.
Brand Mentions and Sentiment Analysis
Brand mentions referring to instances where your brand is mentioned on social media, even if it’s not directly on your accounts. This can include mentions in posts, comments, and replies. Sentiment analysis goes a step further by analyzing the tone of these mentions, gauging whether they’re positive, negative, or neutral.
Why it matters:
Tracking brand mentions allows you to see what people are saying about your brand online. This can be incredibly valuable for identifying areas where you’re excelling and areas where you can improve. Positive mentions can help build brand loyalty and trust, while negative mentions can indicate areas where you need to address customer concerns.
Here’s how you can leverage brand mentions and sentiment analysis:
Identify brand advocates
Look for positive mentions and find the people who are talking favorably about your brand. Engage with these brand advocates, thank them for their support, and consider collaborating with them in the future.
Address customer concerns
If you see negative mentions, don’t shy away from them. Respond promptly and professionally to address any customer concerns or issues. This shows your audience that you care about their feedback and are committed to providing excellent customer service.
Track sentiment over time
Monitor how sentiment towards your brand changes over time. This can help you assess the effectiveness of your social media strategy and identify any potential areas for improvement.
Takeaway
These mentioned social media performance indicators aren’t just numbers on screen: they’re your secret sauce to crafting a solid social media strategy that really converts. So don’t just post and ghost.
Maximize these KPIs and watch your social media success reach new heights, dominate the social sphere, and ultimately achieve your social media goals.
