Social media marketing, no doubt, can be a herculean task for many of you. Today, the tendency is social media works best for digital marketing so I should also apply this in our marketing. This is what you all think, right. But using social media marketing and not knowing its metrics, do you think it will work for you? In a very simple word NO. Guys, social media metrics are crucial in measuring the success of your campaign. It tells you about the performance of your social media strategy and its impact on your entire business.
What did you understand by this? It simply says that every social media marketer or professional should consider social media metrics to track their work and its performance impacting your business. Wondering how social media metrics help you? The metrics help you know the ROI you getting from the campaign, your work performance, help you make clever decisions, and data-driven decision for the long run.
Now the question here is what social media metrics matter the most? So in this article, I am going to enlist the 4 important social media metrics. Let’s learn about them below.
The 4 significant social media metrics matter the most for you
The first social media metrics you have is awareness. Though it is just a single word, it has many other components in it. So let’s talk about them one by one.
– Brand awareness
This is one of the most important aspects of any business. Awareness of the brand is as crucial as anything of business. How do you actually get brand awareness? Through mentions, likes, shares, impressions, etc.
– Post reach
Another significant factor of awareness is post reach. It tells you how many people actually viewed your post. This is an actionable metric depending on timing (online audience) and content (its value).
– Audience growth rate
Next shows the followers you get on social media platforms. You track this metric by measuring your net followers across all the social media platforms. To check audience growth percentage apply this formula – (Net new followers / Your overall audience of each of your social media platforms) * 100
– Potential reach
This metric tells you the exact number of people who saw your post during an exact reporting period. For example, one of your followers shared your post on their social network, about 2-5% of your followers would factor to your post potential reach.
The second metric talks about how consumers think and feel about your brand. Below are the consumer metrics you have to look over.
– Customer testimonial
This metric is all about customer testimonials, comments, reviews, or endorsements related to your brand. Positive reviews bring glory to your business. Encourage customers to leave a review, provide the link, and execute a social media campaign.
– Customer satisfaction (C Sat) score
Yes, the metric tells you how much your customers are happy with your products and services. You can actually ask the customer how much they are satisfied with your products. The metric formula here is CSAT = (Total Posts Shares/Total Followers) * 100
– Net Promoter Score (NPS)
When you want to measure customer loyalty use this metric. NPS is good to examine future customer engagement. Ask customers whether they would like to recommend your products to others, ask them to reply on a scale of 0 to 10.
3. Engagement Rate
The third important social media metric is engagement rate. It actually tells you how your customers interact with your content. Use the given metrics to get the engagement rate.
– Average engagement rate
This metric shows the number of engagement rates such as likes, shares, comments, that a post receives. To track this metric – add the post total number of likes, comments, and shares. For average engagement post = (Total numbers of likes, comments, and shares/Total followers) * 100.
– Applause rate
This metric denotes the number of approval actions. So when your followers like your post, it actually gets approval because they find it valuable. To get the percentage = (Total approval actions / Total Followers) * 100
– Virality rate
Yes, this metric means how much viral your post is. It shows how many people shared your post and the number of unique views it has received. To track this metric do measure the impressions on the post, measure the share on the post, and get the percentage by = (Number of shares / Number of impressions) * 100
Conversion shows how effective your engagement is. Read below to know the metrics of conversion.
– Conversion rate
This metric shows how many visitors clicked on the mentioned link in your post and take action on the page. For instance, subscribing to a newsletter, download a file, etc. To track this metric creates a call-to-action link. Get conversion rate percentage = (Conversions/Total click)*100
– Click-through rate (CTR)
The frequency of the clicks is actually shown by this metric. To track the metric just measure the total number of clicks that your post’s link has. CTR% = (Total clicks/Total impressions)*100
– Cost per click (CPC)
How much you pay for one-click this metric shows you. To get the metrics to go to your platform’s Ad manager, and follow CPC – (Total ad spend/ Total measured Clicks) * 1000
– Bounce rate
This shows you how many people visit your site but did not take any action. This actually enables you to measure social media traffic and helps you target the right audience. Track this metric by enabling Google Analytics and the bounce rate button.
The bottom line
Social media marketing is a great way to build the reputation of brand and company. But more important is its metrics, yes, because without metrics you will not be able to know how your social media campaigns are performing and how much your ROI is paying off to you. Not only social media metrics help you enhance your business in the market but also enhances your online presence worldwide majorly. I hope this article was helpful for you to get to know the metrics matter the most for your marketing. So follow the metrics and implement their formulas to track the performance of your social media marketing.
For more interesting articles subscribe our website, till then keep reading and keep sharing.