You’ve established a presence for your business on social media and are executing a strategy to help you meet your business goals, but how do you measure success? With a wealth of tools and a variety of ways to measure performance, the challenge is in identifying which metrics are the most meaningful. Let’s review the most important metrics across social media.
Audience Growth: Are you building a relevant audience?
The total number of followers across your networks reflects a group of users that have shown interest in your business and your content. When your social community is constantly growing, it shows that your content is bringing value. Building a following across social platforms is important but building a relevant and engaged audiences is even more so. Both Facebook Insights and Twitter Analytics offer data on your audience, where you can analyze if your audience represents your target market. Review follower growth and audience demographics monthly, consider which tactics could have contributed to those changes, and test different ways to grow your audience.
Engagement: Is your content inspiring action?
As a platform for creating and building relationships, engagement is the top metric to analyze when looking at performance on social media. Engagement speaks to the actions that users are taking on your content; specific engagement metrics vary on each platform and include likes, comments, shares, and clicks. Post data can be found in Facebook Insights, Twitter Analytics, and Instagram Insights on mobile. Monitor the type of content that results in high engagement, the quality of comments, and overall shares to adjust your content strategy.
Mentions: Are people talking about your business?
Do you know what customers and potential customers are saying about your business on social? Ensuring that you are driving positive conversations is key and this data also provides additional insight into customer perception and sentiment. Monitor these conversations by compiling the total number of times that your business is mentioned or tagged directly or your brand hashtag is used across social media.
Competitive Benchmarking: How do you stack up against your competition?
Different industries and regions see different results across social media, which is why compiling a competitive set to measure your success against is important. Think of your top 5 or 6 competitors and research to see if they have active social media accounts. If so, tracking the audience growth and engagement from those channels allows you to see how well their content is resonating with fans and could give inspiration and insight into things that work.
Ad ROI: Are you effectively guiding users to conversion?
While conversion is the end goal in all things marketing, paid social is the key tactic in driving conversions. Depending on your strategy, a conversion could be a website click, contact information, RSVP, or purchase. Ad results and data on each platform allow you to optimize and better connect with your target market.
Tracking the metrics above allow you to paint the full picture and make constant improvements to your social media strategy.
- In News