If you use social media for business, you need a plan in place to assess and evaluate your social media KPIs. Having a digital content strategy is great, but tracking key performance indicators (KPIs) allows your social media team to understand if the content connects with the audience and helps achieve business goals.
What Are Social Media KPIs?
KPI means key performance indicators.
Businesses use KPIs to assess and evaluate a company’s performance over time. This assessment helps marketers understand which goals are met and the strategies that need to be tweaked to improve business performance.
In a similar vein, social media KPIs measure the effectiveness of a social strategy or campaign on different social media platforms such as Facebook, Twitter, LinkedIn, or Instagram, where you share the brand’s content.
There are several key performance indicators when it comes to social media marketing. The goal is to choose the metrics that align with your marketing campaigns and outcomes.
In this post, we list down crucial social media metrics that you can track and measure to improve engagement:
Important Social Media Metrics To Track For Your Business In 2022
Reach is the number of unique visitors who saw your post when it went live. When trying to increase the reach of your posts, it’s crucial to target the right audience
interested in your products and services. Once you have determined your target audience and the posts they like, you can create content that is engaging and meaningful to them.
What To Measure
Impressions are the number of times your post appeared on someone’s timeline or newsfeed. This doesn’t mean the person has engaged with the post. It’s possible they scrolled past it, but it counts as an impression.
This KPI measures the number of followers on your social media channel at a specific point in time. When tracking the follower count, looking at the engagement rate is crucial.
Suppose you have 1000 followers on Instagram, but only one or two people engage with the post through likes, comments, or shares. This can either mean the account has bots/fake followers or the content doesn’t connect with the intended audience. Either way, you need to take a hard look at your content strategy and understand what needs to be fixed.
This is one of the most important KPIs that tell you how much website traffic your social media posts generate. It’s how you move the users down the funnel and convert them into paying customers.
Social media engagement is the quality of interactions with your followers. This measures how the target audience responds and reacts to your content and how effective your brand campaigns are.
What To Measure
This KPI measures the number of times your social followers interacted with the brand by liking a post on social media. Though many see this as a vanity metric, it can boost engagement as more people are likely to interact with a post when they see others like it.
Social shares tell you how popular your content is with the target audience and help drive visibility to your brand. This is a great metric to understand the content formats that work for your brand and how you can double down on those to improve engagement.
This social media metric keeps you up-to-date with what people say about the brand on different social media channels. It’s a great way to tap into users’ thoughts about the brand, content, and products/services. You can use this data to know more about their preferences and create content best suited to their interests.
Comments are not only a great engagement metric but also tell you how a user perceives your product or post. All comments may not always be positive, but even the negative ones can help improve your product or marketing strategy. A high number of comments indicate users like your content and are willing to engage with the brand.
This is the most effective metric to measure the success of your social media strategy. Most businesses use social media to divert traffic to an external website to facilitate the sale of a product or service. If a user clicks on the website link, they are interested in the product/service and want to know more about it. This means your content marketing strategy is effective in bringing qualified leads, which is ultimately the goal of social media marketing.
This KPI measures how many social interactions with the followers or visitors convert into product/service sales, newsletter sign-ups, product demo sign-ups, etc. The conversion could be monetary or non-monetary, depending on the brand’s goals, but it can establish the effectiveness of a social media strategy in leading users to take the final step.
What To Measure
Generating leads is crucial for business. Not every lead will convert, but it’s worth considering how many people are visiting the website through social media channels, downloading e-books, and signing up for newsletters and product demos to refine the social media strategy that suits the interests of the target audience.
Social Media Conversion Rates
You are posting on social media, and people are liking or commenting on the post, but how many users convert into customers? A straightforward way to determine this is by dividing the total social traffic from the number of social media conversions. You can also track these numbers using Google Analytics, HubSpot, or Salesforce.
This refers to the revenue generated from social media conversions. Once you know the number of people who visit your site through social media and the total revenue generated, you can assign a number or value to a prospect. This allows you to set a budget for social media campaigns and anticipate ROI from the efforts.
Measure Social Media KPIs To Drive Business Performance
Tracking social media metrics isn’t easy, but it’s worth the time and money. It helps to improve marketing strategy, calculate ROI from social media efforts, and improve long-term customer standing. Not all businesses need to track all KPIs. Depending on the campaign goals, social media managers can choose to follow some metrics and ignore others. Measuring the correct KPIs can help you understand the best way to communicate with your target audience and the strategies to help you achieve business growth in 2022.